Today’s lodging industry is wrestling with weakened revenues and the growing necessity of cost control. Now more than ever, hotel owners and operators are scrutinizing every possible means to reduce expenses.

Unlike previous recessions of the past quarter century, the current downturn and the virtual absence of credit for hotels have caused hotel property values to suffer disproportionately by inhibiting the buying, selling, and refinancing of hotels. Current tax assessments usually do not reflect this erosion of value.

Unfortunately, property taxes continue to be one of the least understood hotel expenses, and many hotel owners forego what could be significant savings by failing to explore the potential for lowering the real property tax assessment. A hotel’s property tax bill is one expenditure that potentially offers substantial savings.

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