Scope for hotel business rates savings
(3 votes, average: 4.67 out of 5)
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The valuation of hotels and pubs are based on turnover valuations so as a guide, the larger the turnover the larger the rating assessment. If operators are struggling to make significant profits it is possible through a close analysis of profit & loss accounts to generate significant savings, for example, the property team have recently saved a hotel client £650,000 over 10 years.
It is possible to do an initial “desktop review” and if there is a real opportunity, the appeal process can be launched at that stage. Generally, 2008/2009 & 2010 profit and loss accounts are required for the hotel in order to do an assessment. The perfect opportunity in this sector would be a hotel that has a high turnover but not necessarily having a high profit.
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