![]() I feel like it needs to pointed out here that the country, rather than the stock market and corporate profits, is not really recovering from the Great Recession, caused in no small part by property speculation. He compares their property tax burden, based on increasing value, to that of homeowners in the region, whose assessed home value has gone down, and thus the amount of property taxes. While it is true that they pay property taxes on the value of the land and their buildings, these aren’t mom-and-pop shops: we’re talking about regional and multi-national real estate and hospitality companies here. One of the first things Kryzanek writes about is the property taxes that hotels pay to the city, replete with big hundreds of thousands of dollar numbers. ![]() They are headquartered in L.A., though with plenty of cool crash pads overseas, and are worth $37.6 billion. They advise on operators for these hotels, manage the debts, derive financial securities from commercial real estate, and deal with legal issues that surround international investment in hospitality. From what I can tell, they make a lot of money brokering the sale and investment in different hotels and chains from around the world. PKF is owned in turn by CBRE Hotels, the world’s largest commercial real estate services company with offices in 60 countries. Kryzanek’s employer, is a subsidiary company specializing in hospitality industry research, management consulting, legal services, asset services and much more. I don’t think we’ve gotten to hear the entire story, so let’s examine some of the claims and narratives Kryzanek lays out from a different perspective. Thus we will learn the “entire story.” He also notes that there will always be complainers, so I guess that’s where I come in. Currently, the Tourism Development Authority receives all of the funds and directs most of the total to marketing, meaning that this ostensibly public body exists to coordinate the hospitality industry’s advertising for them.īriefly, at the outset, I will note the tone of the piece which presents hoteliers as “scape-goated,” critics of his position as “bemoaning,” and invites us on a more “thoughtful and truthful” investigation of the situation. The suggestion that the community in which these companies are raking in profits should be able to direct those funds to real social needs is not unprecedented or all that radical. In it he makes a “common sense” and supposedly apolitical appeal for why hoteliers should not direct any occupancy taxes to our local government. The recent Asheville Citizen-Times column penned by Michael Kryzanek, a former hotel manager and current hotel consultant for PKF Consulting, deserves a closer look. If Ashevillians had any doubt about the impact of the hotel industry, the entitled whining of its representatives over the room tax reveals their oblivious greedĪbove: The Hyatt Place hotel under construction on Haywood Street, one of several going up in downtown. The hotel hustle by Martin Ramsey June 13, 2015
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