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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. ....

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