LODGING LEADERS
028 | 6-Figure Income Tax Savings through Cost Segregation with Todd Strumpfer
LODGING LEADERS
Todd has been a regional director for Cost Segregation Services, Inc. (CSSI) since 2009, and he works with clients nationwide to bring them the tax-saving and cash flow producing benefits of Cost Segregation. CSSI has been in business since 2001 and has completed over 15,000 Cost Segregation Studies in all 50 states.
On a top level, companies like CSSI perform a cost segregation study to identify and reclassify personal property assets. The goal is to shorten the depreciation time for taxation purposes, which reduces the hotel’s current income tax obligations.
The cool thing is, these guys will give you a free cost segregation analysis so you can make an informed decision before you spend a dime.
In This Episode, Todd Talks About:
- Cost segregation, what it is, the history behind it, and how it applies to the hotel industry.
- Who can benefit from it, from new builds, to acquisitions, to renovations.
- The process, how long it takes, and what level of involvement is required by the owner.
- The common concerns and misconceptions that owners have about it.
- Specific examples of the huge, 6-figure income tax savings hotels have received, and the relatively minor cost they incurred to realize this benefit.
Resources & Links
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346 | Repositioning For Recovery: Hotel conversions to outpace new builds
Lodging Econometrics has tracked the hotel industry since 1998. Its global database includes new-hotel pipelines as well as renovations and brand conversions. Hotel franchisers once eager to launch new brands are focused on converting existing hotels because it’s a faster way to recover revenue lost to the COVID-19 pandemic than through new construction. In Episode 346, Lodging Leaders explores the increasing number of conversions in the U.S. hotel industry and what owners and operators need to consider before repositioning an asset.
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345 | ‘Rosy View of Future’: Hotel industry sees unleashing of pent-up investor demand
In the first few months of the COVID-19 pandemic in the U.S., financiers anticipated a swell of distressed hotel businesses. Some raised rescue funds to respond to what they thought was a pending crisis. Though there are financial rescues taking place, the level of such activity is far below what industry advisers and fund managers expected. Commercial real estate investors positioned to act in the early days of the pandemic held off and are now just beginning to unleash their cash hoards totaling billions of dollars. Episode 345 of Lodging Leaders podcast explores the state of capital investment in the hotel industry.