Hotels and COVID: Lower Occupancy, Higher Operational Expenses

Posted by Anne Sheehan on Oct 13, 2020

RPTA Vlog LogoRevPAR, or revenue per available room, hit rock bottom in April of 2020, declining by 83.6%. While the hotel industry is on the road to recovery, business travel is still down, and many large-scale events have been rescheduled to next year. Additionally, many hotels are having a hard time managing expenses due to costly sanitation demands and reduced occupancies.

In this episode of Property Tax 2021, we discuss the major changes COVID-19 has brought to the hotel industry and how hotel owners and operators can prepare their case for lower property tax valuations.

Still have questions that need answers? Get in contact with one of our specialists for more information.

Previously in the series:
The Pandemic's Longterm Impact on our Office Buildings
How Do We Get a Fair Market Value Assessment in 2021?
Have Tall Buildings Become a Liability in the New Normal?

Tags: commercial property, property tax appeal

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