Tower Hospitality

Collaboration spanning half a century

FHHP looked a lot different in 1974. So did Tower Hospitality. In those early days, Tower founders Samuel and Elizabeth Roth needed a CPA to prepare monthly financials and taxes for their newly-purchased South Jersey motel. FHHP’s Agostino “Gus” Fabietti was the man for the job. 

A growing role in a growing company

As trust between the Roths and Fabietti grew, so did Gus’s role. His involvement expanded to include business development consulting. Gus was instrumental to the Roths’ foray into branded business that quickly became the cornerstone of their enterprise. With FHHP by their side, in the late 1980s and early 1990s Tower Hospitality brought some of the first household-name hotels and restaurants to Cumberland and Atlantic counties. 

Services provided:

• Accounting & auditing
• Tax services
• Valuation
• Consulting

The value of institutional knowledge

FHHP’s firsthand understanding of Tower Hospitality’s past lets us deftly guide its future. Beyond ongoing tax and auditing work, as consultants we’ve reviewed proformas and contracts, analyzed data, helped secure financing, and implemented cost segregation reports and game-changing tax strategies including 1031 exchanges. When COVID struck, we procured a bank qualified to disperse the company’s PPP funding. FHHP’s input continues to contribute to the evolution of Tower’s portfolio. 

A meaningful relationship for both parties 

Today, the Roths’ sons Ed and Henry helm the family enterprise; the unique nature of FHHP’s longstanding involvement is not lost on them. Every September – the month that Tower Hospitality and FHHP kicked off in 1974 – Ed Roth calls FHHP with a hearty “Happy birthday!” FHHP continues to work onsite at Tower Hospitality at least once a month, like we have for almost fifty years, generating monthly financials, consulting on sales, visions, and builds, and all in all functioning as an outsourced, in-pocket CFO.