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Hotel property tax relief varies by geography : Wednesday, 4th October 2023 : 4Hoteliers

Hotel property tax relief varies by geography : Wednesday, 4th October 2023 : 4Hoteliers
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U S Hotel Property Tax Relief Varies By Geography - By Robert Mandelbaum

Article - U.S. Hotel Property Tax Relief Varies By Geography - By Robert Mandelbaum - Based on a sample of more than 3,000 hotels from CBREs Trends in the Hotel Industry database, U.S. hotel property tax expenditures averaged $2,626 per available room (PAR) in 2022. This is 10.8% less than the $2,943 PAR recorded in 2019, before the COVID-19 pandemic. Concurrently, the earnings before interest, taxes, depreciation, and amortization (EBITDA) for these same properties fell by 1.7%.

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Hotel Property Tax Relief Varies By Geography | By Robert Mandelbaum and David P Fuller

Based on a sample of more than 3,000 hotels from CBRE’s Trends® in the Hotel Industry database, U.S. hotel property tax expenditures averaged $2,626 per available room (PAR) in 2022. This is 10.8% less than the $2,943 PAR recorded in 2019, before the COVID-19 pandemic. Concurrently, the earnings before interest, taxes, depreciation, and amortization (EBITDA) for these same properties fell by 1.7%.

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