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  • Writer's pictureDaria Gavrilova

Hotel operators: have you considered the impact on business rates which your planned changes entail?

Peter Foley is our resident guru here at CPA, and has been passionately following the shifting world of business rates for many years. With a keen political insight, Peter’s writing reveals how policy change is key to understanding your business rates further, and how this could translate into substantial savings. In his weekly column, Peter also outlines a desired path forward, with changes we’d like to see implemented for a fairer system on the nation's business rates.

The winds of change are sweeping across the UK's hotel sector as new trends shape the landscape. The rise of aparthotels, boutique hotels, and unique remodelling designs is currently transforming the market. Moreover, the most recent budget policy has made it more financially appealing for hoteliers to upgrade and enhance their properties. This policy, which is set to be in force until at least 2028, ensures that ratepayers do not experience an increase in their property rates for a year as a consequence of making improvements to their establishments.

As such, this is an opportune moment to invite the construction and refurbishment teams to upgrade your property. However, have you considered the potential financial benefits that a comprehensive professional survey could bring to your business? This process can uncover numerous areas for potential savings, thus positively impacting your overall expenditure.

Commercial Property Advisors (CPA) stand at the forefront of this service, offering trusted and proven consultancy in the area of non-domestic rates. Our services include a Royal Institution of Chartered Surveyors (RICS) regulated, complimentary survey. This in-depth analysis takes into consideration every possible aspect that could lead to a reduction in your property bills.

CPA will meticulously prepare a compelling, detailed report to submit to the Valuation Office Agency. This thorough representation of your case will allow you to remain focused on navigating the myriad challenges of managing your business. Rest assured, the process is designed to ensure minimal disruption and maximum gain for you, the client.

CPA operates on clear, upfront 'no win, no fee' terms. Our transparent approach ensures that all conditions are agreed upon in advance with the client, thereby ensuring there are no unexpected costs.

Regardless of the size and scope of your hotel operation, whether you are managing a single unit or a nationwide chain, and irrespective of your location, CPA is committed to providing a positive response to your requests for assistance and guidance. Our aim is to deliver expert advice that aligns with your specific needs and supports the successful management of your business.

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