JLL Grabs LodgeTax
- Jul 06, 2015
JLL expands services provided by its Hotels & Hospitality Group with the acquisition of LodgeTax, a hotel real estate tax services and consulting firm based in Tampa.
In a press release, Arthur Adler, Americas CEO of JLL’s Hotels & Hospitality Group, put it simply: “Real estate taxes are a very large single expense item for hotels.” LodgeTax, having served clients across the country since 2000, brings to the table coveted methods of reducing property tax liability. The firm is a respected provider of real estate tax consulting services, including audit support; property tax projections; tangible personal property representation and compliance; hotel/resort representation, review and analysis; buyer and seller side transaction analysis; and expert witness testimony. And the list goes on.
By bringing LodgeTax under its umbrella, JLL will be able to guide their clients through an even broader and more focused scope of real estate-related tax issues. The timing is right; with property values rising, the topic of tax strategies moves even closer to the forefront. While LodgeTax’s expertise centers on the U.S. market, hotel owners around the world are increasingly finding themselves in need of a helping hand with property taxes.
“Certain tax issues must be carefully evaluated as an integral part of a company’s overall investment strategy,” professional services organization Ernst & Young notes in a 2015 report. “This year, several key tax considerations, including the continued growth and sophistication of cross-border hospitality investments, the acceleration of the use of OpCo/PropCo (operating company/property company) structures and spin-offs, escalating tax enforcement initiatives and an increasing number of indirect taxes, will remain top of mind for industry participants looking to invest in the hospitality sector globally.”
LodgeTax’s founders, industry veterans Louis Breeding and David Calverley, will come aboard JLL, both taking the title of executive vice president.