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TEXAS VOTERS APPROVED Proposition 4, a constitutional amendment reducing property taxes this year. AAHOA and the Texas Hotel & Lodging Association, which collaborated to support the amendment, said Proposition 4 ensures property tax relief for commercial hotel properties. The amendment allocates $12.6 billion in state funds for public education, lessening reliance on local property taxes, according to AAHOA. Moreover, it raises the Texas franchise tax exemption from $1.24 million to $2.47 million, providing businesses with tax relief, and caps appraisal values for commercial properties under $5 million. Proposition 4 was passed with over 83 percent of the vote, emphasizing to legislators the priority of reducing property taxes.

ACCORDING TO THE March 2022 edition of CBRE's Hotel Horizons national forecast report, the total revenue for a typical U.S. hotel is not expected to return to pre-COVID 2019 nominal dollars until 2023. Accordingly, hotel owners and operators continue to seek ways to control expenses, and that can include property taxes. One potential reduction opportunity is property taxes, according to an article from Robert Mandelbaum, director of research information services for CBRE Hotels Research, and Mark Whitney, managing director of CBRE's Property & Transaction Tax Services platform. Based on a sample of 3,400 hotels from CBRE's Trends in the Hotel Industry database, U.S. hotel property tax expenditures declined by 13 percent from 2020 to 2021. This decline put 2021 property taxes 9.9 percent below 2019 levels. Unfortunately, this compares unfavorably to the 41.3 percent decline in revenues and 57.4 percent falloff in profits during the same period. For this analysis, profits are defined as earnings before interest, taxes, depreciation, and amortization, or EBITDA. Relationship to Profits Compared with other forms of real estate, hotel financial performance is relatively volatile. Because of the lack of long-term leases, hotel revenues and profits will react almost instantaneously to changes in the economy. This was evident during 2020 when we observed a sudden 64.3 percent drop in revenues along with a 109.4 percent decline in EBITDA in reaction to the pandemic.

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Passport Alert!! Your passport is in risk, if you are in IRS list of debtors. A new law will allow the US State Department to refuse to issue US passports to individuals with "seriously delinquent" tax bills in excess of $50,000. Even, the State Department is authorized to revoke previously issued passports if the bearer is on the IRS list of debtors! So, if you were not paying your taxes from a while, pay them as soon as possible, in order to be able to fly internationally. In case, you haven't applied for a passport yet, apply with a passport expeditor to get an expedited passport.

Passport Alert!! Your passport is in risk, if you are in IRS list of debtors. A new law will allow the US State Department to refuse to issue US passports to individuals with "seriously delinquent" tax bills in excess of $50,000. Even, the State Department is authorized to revoke previously issued passports if the bearer is on the IRS list of debtors! So, if you were not paying your taxes from a while, pay them as soon as possible, in order to be able to fly internationally. In case, you haven't applied for a passport yet, apply with a passport expeditor to get an expedited passport.

Jessica Brady is now the vice president of federal affairs for tax policy at the American Hotel & Lodging Association. Prior to joining AHLA, Brady served as the senior director of federal government relations at the Distilled Spirits Council of the U.S., focusing on tax, trade, and other key issues. Before DISCUS, Brady led budget and appropriations advocacy as the associate director of global development policy and advocacy at Save the Children, AHLA said. She also handled congressional affairs and engaged in multilateral diplomacy at the State Department as part of the President's Emergency Plan for AIDS Relief program. "Jessica's extensive tax expertise and profound understanding of the federal policymaking process will prove invaluable for our members as we navigate a myriad of crucial tax issues in 2024 and beyond," said Chip Rogers, AHLA president and CEO. "This addition reinforces AHLA's commitment to securing policy victories for hoteliers."

SALEM, OREGON, RECENTLY changed its plan to use transient lodging tax funds for library funding gaps. AAHOA and the Oregon Restaurant & Lodging Association have been closely monitoring the municipality's attempts to divert the protected revenue from its intended purpose, promoting tourism. Instead, the city will use funds from the American Rescue Plan Act. Hotel taxes diverted from tourism could diminish funding for year-round visitor attraction efforts, AAHOA said in a statement. "AAHOA and ORLA were proactive in ensuring appropriate use of the transient lodging tax in the city of Salem," said Taran Patel, AAHOA's Northwest regional director. "This is a great example of the importance of AAHOA members being active in advocacy at the local levels of government."

The Monaco tax system is well known for exempting individuals from income tax but there is a lot more you need to be aware of if you are considering investing in Monaco real estate to live or setting up a business in the Principality.

U.S. HOTELS WILL generate $46.71 billion in state and local tax revenue, more than ever before, according to a survey from the American Hotel & Lodging Association and Oxford Economics. Occupancy is expected to continue its recovery, the report said, but challenges remain. Average U.S. hotel occupancy is projected to reach 63.8 percent in 2023, just under 2019's level of 65.9 percent, according to AHLA. However, the labor shortage is expected to continue this year as hotels seek to fill jobs lost in the pandemic. As of December, national average hotel wages were at historic highs of more than $23 an hour and hotel benefits and flexibility are better than ever. Nearly 100,000 hotel jobs are currently open across the nation, according to job search site Indeed. "Hotels are making significant strides toward recovery, supporting millions of good-paying jobs and generating billions in state and local tax revenue in communities across the nation," said Chip Rogers, AHLA president and CEO. "To continue growing, we need to hire more people. Fortunately, there's never been a better time to be a hotel employee, with wages, benefits, flexibility and upward mobility better than ever before."

UK-based airlines have launched a renewed attack on air passenger duty (APD) with a report that claims the UK economy would be boosted by £16bn a year if the tax was scrapped.

Tax Refunds for Gaming Enthusiasts Visiting Las Vegas from Asia Posted on January 5, 2015 by admin Give your customers what they want and they'll keep coming back. That's what Las Vegas is aiming to do in an effort to attract an international clientele that likes to gamble.

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THE HOTEL INDUSTRY is poised for a fairly strong year in 2023 despite remaining concerns about a downturn, according to a pair of reports. Continuing demand is expected to overcome extra labor costs and economic vagaries to propel performance above pre-pandemic levels, according to the reports from the American Hotel & Lodging Association and STR. The state of the industry AHLA's 2023 State of the Hotel Industry Report projects that demand, nominal room revenue and state and local tax revenue all are well on the way to recovery. Operational challenges, such as staffing shortages and economic factors will replace COVID as hoteliers' top concerns, the report predicts. "Three years after the unprecedented hardships our industry faced due to the pandemic, hotels continue to make significant strides toward recovery," said Chip Rogers, AHLA president and CEO. "2022 saw one of the strongest summer travel seasons ever, and this year we expect hotels to reach new heights in terms of room revenue, room-night demand and state and local tax revenue. But when inflation is taken into account, our industry likely won't see full recovery for several more years. Nevertheless, hotel performance is trending in the right direction - great news for our industry and our employees, who are enjoying better pay, more career opportunities, upward mobility and flexibility than ever before."

AAHOA IS CONTINUING its advocacy efforts with new meetings with members of Congress. On Sept. 27, representatives from the association met with Sen. John Hickenlooper, Democrat from Colorado, in Washington at his Capitol Hill office. Hickenlooper, who sits on both the Small Business Committee and the Senate Commerce Committee, met with AAHOA to discuss Small Business Administration loan limit increases as well as fairness and transparency in the franchise industry, according to AAHOA. In Hickenlooper's home state of Colorado, 39.5 percent of all hotels in the state are owned by AAHOA members, comprising 520 hotels and 55,861 rooms, according to a recent study for AAHOA by Oxford Economics. Those hotels provide $5 billion in wages and other compensation, along with approximately 54,490 direct jobs and 101,000 total impact jobs in the state. They provide $8.5 billion in contribution to the state's GDP, and $2.3 billion in federal, state and local taxes along with $201 million in total lodging taxes.

THE BUSINESS TRAVEL resurgence in the U.S. significantly impacted the economy in 2022, with every $1 spent returning $1.15 to the U.S. GDP, according to the Global Business Travel Association. The industry also contributed $484 billion to the U.S. GDP in the same year and the association forecasts a further increase in business travel spending for 2024. The study, titled "GBTA U.S. Economic Impact Study: Business Travel's Impact on Jobs and the U.S. Economy," revealed that for every 1 percent growth in business travel, the U.S. economy gains nearly 60,000 jobs, $2.9 billion in wages, $1.2 billion in tax revenue and $4.8 billion in new GDP. "The data shows that business travel is a substantial contributor to the health of the U.S. economy, and therefore also a key driver for the global economy," said Suzanne Neufang, GBTA's CEO. "Business travel supports millions of jobs and delivers billions in tax revenue, which is why it is important for policymakers to consider the impact on the industry when devising economic policies - and for sustainable solutions to be prioritized, funded and developed to help us abate travel's hardest-to-abate sectors."

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