Post by Logan on Jul 9, 2016 23:40:48 GMT -6
Anaheim considers tax incentives for three luxury hotels near Disneyland
ANAHEIM – The City Council on Tuesday will consider tax incentives reimbursing developers some $560 million over 20 years for building three luxury hotels in Anaheim’s resort district, including one at Disneyland.
City leaders said the hotels would help Anaheim attract higher-end visitors and conventions to stay and play in a city that offers Disneyland, Angel Stadium, Honda Center and the Packing House. Average nightly rates of $300 would mean double the tax revenue collected from lower-end properties, they said, and the new luxury hotels would add 2,000 jobs.
But an industry expert echoes the city’s mayor in questioning whether the market is there for luxury accommodations and whether developers need incentives to realize the business opportunity.
The three hotel projects would be the first ones to take advantage of a policy the council approved in a 3-2 vote last year to encourage the construction of hotels that meet AAA’s four-diamond rating by offering to reimburse developers for 20 years 70 percent of the transient occupancy tax collected from guests. Guests pay a 15 percent bed tax.
Read more: www.ocregister.com/articles/anaheim-721842-city-hotel.html
ANAHEIM – The City Council on Tuesday will consider tax incentives reimbursing developers some $560 million over 20 years for building three luxury hotels in Anaheim’s resort district, including one at Disneyland.
City leaders said the hotels would help Anaheim attract higher-end visitors and conventions to stay and play in a city that offers Disneyland, Angel Stadium, Honda Center and the Packing House. Average nightly rates of $300 would mean double the tax revenue collected from lower-end properties, they said, and the new luxury hotels would add 2,000 jobs.
But an industry expert echoes the city’s mayor in questioning whether the market is there for luxury accommodations and whether developers need incentives to realize the business opportunity.
The three hotel projects would be the first ones to take advantage of a policy the council approved in a 3-2 vote last year to encourage the construction of hotels that meet AAA’s four-diamond rating by offering to reimburse developers for 20 years 70 percent of the transient occupancy tax collected from guests. Guests pay a 15 percent bed tax.
Read more: www.ocregister.com/articles/anaheim-721842-city-hotel.html