What Does the Future Hold for the Hospitality Industry?
The hospitality industry continues to rapidly change as the world emerges from the COVID-19 pandemic. Nationwide reappraisal trends show values predominantly declined between 15% and 30%. The average daily rate (ADR) decreased 21%, and revenue per available room (RevPAR) decreased by nearly 50% in 2020. These trends are expected to continue until there is mass acceptance of approved COVID-19 vaccines and the economy begins to right itself. Although recovery is underway, a full rebound is not expected until 2024.
How Can Ryan Help?
Ryan deploys a multidisciplinary team of experienced tax and hospitality industry experts with longstanding jurisdictional relationships. The local market experts at Ryan are uniquely positioned to help organizations understand the complexities of multiple tax jurisdictions and their different approaches to valuing and assessing hospitality property types.
2019 Portfolio of Hospitality Sites Totaling a Value in Excess of $66.9 Billion
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