Live Breaking News & Updates on Des Moines Area Sports Commission

Stay updated with breaking news from Des moines area sports commission. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.

Des Moines-area hotel property values fall 30%


Des Moines-area hotel property values fall 30%
‘When the cash flow goes away, the value goes away,’ says one local banker
Friday, April 9, 2021 6:00 AM
For over a year, more than half of the Des Moines area’s 13,000 hotel and motel rooms have sat empty, a result of the economic shutdown caused by the pandemic. 
The sudden drop of hotel guests caused revenues to plummet and employees to be furloughed or laid off. In March, the Polk County Assessor’s Office released information showing a 30% decline in assessed valuation of the county’s 123 hotel and motel properties, from a total $634.4 million in value in 2020 to $450.7 million in 2021. ....

Drake University , United States , Polk County , Merle Hay Mall , Des Moines International Airport , Des Moines , Mike Whalen , Randy Ripperger , Riley Hogan , Clyde Evans , Craig Walter , Jennifer Cooper , Greg Edwards , David Jones , Greater Des Moines Convention Visitors Bureau , Bankers Trust , City Council , Des Moines Area Sports Commission , National Mountain Dew Tour , Paycheck Protection Program , Iowa Lodging Association , Polk County Assessor Office , Centers For Disease , Surety Hotel , Heart Of America Group , Iowa Department Of Revenue ,