Hoteliers urged to claim thousands in business rates before 31 March
Hotel operators could receive up to £145,000 by claiming back overpaid business rates, according to commercial property specialists Colliers International.
The company considered hotels across each UK region according to their total rateable value (RV), and found that businesses could save between £18,796 and £145,881 if they lodge an appeal on overpaid rates by the 31 March deadline. Colliers claims to be able to reduce its hotel clients' RV by an average of 12.5%.
The company said that London hotels are due the largest rebates, as a result of higher property values, and a greater number of hotels in the capital, while businesses in the West Midlands are also eligible for a significant refund. Hotels in the South East and South West, however, were shown to be entitled for less, thanks to the high number of smaller, independent hotels across tourist hotspots.
Colliers calculated that a rebate of £145,000 for a London hotel could be equal to about 1,000 room nights, or about six months' rent.
John Webber, head of rating at Colliers International, explained that if any new competition opens up near an existing hotel, hoteliers can legitimately appeal their rating assessment for business rates. He also warned hoteliers to lodge an appeal before the imminent deadline.
He said: "This deadline has not been greatly publicised, and even our clients with experience in rating are unaware of this appeals window. As the shutters are coming down at the end of March 2015, we urge hoteliers to take immediate action and find out whether they are eligible to claim thousands if not hundreds of thousands of pounds due to them."
Colliers International has set up a hotline for businesses to call to find out more about this issue (0800 358 3230) and to see if they are entitled to a rebate, with more information also available on the company's website.
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