INDUSTRY: Hotels
In the hotel industry, third-party technology brings benefits to legal and fiscal challenges, from adapting government regulations to the emergence of artificial intelligence. Understanding the hired technology and taking preventive measures is essential. Stay to learn how to overcome these difficulties and maximize your success!
Innovating with third-party technology
In the competitive world of the hotel industry, hotels increasingly depend on technology provided by third parties, such as online booking platforms, CRMs, payment processing, online check-in, home automation for guests, and so on.
How does TravelTech work in the hospitality industry?
Even more traditional hotels are no strangers to the novelties of the TravelTech industry. Still, while these platforms provide a few benefits and amenities, they can also pose significant legal and tax challenges.
Hotels may assume responsibilities that do not belong to them simply because they do not understand how these technologies work.
Primary concerns
Continuously evolving and intertwined with technology, the hotel industry confronts obstacles in legal and fiscal areas.
Data Privacy
Hotels must follow strict regulations on the privacy and security of their guest’s data because they collect sensitive and personal information when making reservations and are legislated by each country or community.
Guarantees
In the B2B field, receiving payment guarantees from business partners is expected. However, these contracts must be carefully examined, establishing SLAs (Service Level Agreements) to avoid misunderstandings and actions in case of non-compliance.
Administrative Burden
Hotels are facing significant tax challenges due to the growth in administrative burden from new recurring information supply obligations. This increases the risk of providing contradictory data that leads to tax problems.
Tax inspections and fines
The abundance of tax inspections represents a significant challenge for the industry. This not only implies higher advisory costs but also the constant threat of fines and surcharges that put additional pressure on the financial management of companies.
Limits on the application of tax credits
Limitations on the use of tax credits accumulated from previous periods, such as those generated by losses, hinder the ability of companies to optimize their tax burden over time to pay taxes ahead of schedule.
Keys for the legal challenge
To identify the pain points in the TravelTech hospitality industry, it is vital to stay one step ahead: monitor regulations, standardize contracts, strengthen cybersecurity and privacy, and collaborate with legal experts in key markets.
This proactive strategy ensures efficient operations in an ever-changing global marketplace. It is crucial to have specialized advice on TravelTech legal for hotels.
Proper privacy management
Protection of intellectual property
Compliance with labour and tax laws
Contractual disputes with service providers
Proper privacy management
Protection of intellectual property
Compliance with labour and tax laws
Contractual disputes with service providers
Essential to face fiscal challenges
Today’s tax landscape is complex and changing, putting businesses under pressure to meet their tax obligations. Digitalization has transformed tax management, enabling automation and real-time monitoring of financial transactions, but it also requires adaptation and a reasonable tax policy.
Companies must develop sound strategies to identify, assess and mitigate these risks effectively in this context.
Develop a strategic plan for fiscal risk management.
Digitize the tax function aimed at increasing controls over the information provided.
Optimize the tax burden by taking advantage of available tax benefits.
Improvement of financial flows through the optimization of tax payments.
Develop a strategic plan for fiscal risk management.
Digitize the tax function aimed at increasing controls over the information provided.
Optimize the tax burden by taking advantage of available tax benefits.
Improvement of financial flows through the optimization of tax payments.
Avoid illegalities implementing new technologies!
Before adding new technologies to your hotel, you must understand the conditions well to avoid legal and tax problems. Don’t expose yourself to careless lawsuits.
At Mylegainbox, we make sure this doesn’t happen. With more than a decade advising hotels, we know in detail the legal and tax challenges you may face. Let our specialized team guide you through this legal maze.
Contact us now and secure your business!
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Contact with us
Are you an entrepreneur in the TravelTech field? Or do you run an established company? We are here to provide you with legal and tax support at any stage.
Whatever your situation in the sector, we can offer you the legal and fiscal support you need. If you have any questions or want legal advice, please get in touch with us through the form or our communication channels.
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BARCELONA – MALLORCA
(+34) 91 005 38 55 (WhatsApp o Telephone)