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Post-pandemic hotel property tax burdens

Nine months into the COVID crisis, this once-in-a-century worldwide pandemic has caused a swift, wide and deep economic recession that has decimated key travel and leisure related industries including airlines, car rentals, cruise lines, ridesharing, tour operators and transient lodging facilities. The U.S. hotel industry continues to experience crippling stress as all segments of travel demand experience a sharp and sustained decline which continues to significantly lag pre-pandemic levels.  There is no question that the COVID-19 pandemic has resulted in a reset to hotel property values, however market participants are struggling to determine an applicable discount to 2019 levels. Q3…
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