What's Happening?
Desiree Flanary, serving as the Property Tax Director for the Pacific Northwest at CBRE Hotels, is actively involved in addressing property tax needs for clients within the hospitality sector. Her role encompasses annual reviews, appeals, forecasting, and pre-acquisition/pre-development tax estimates. Flanary's expertise is particularly focused on valuing hotels and lodging properties, supporting CBRE’s Property Tax & Transaction team in reviewing and appealing hospitality-related properties across the United States. Her extensive experience includes fourteen years in appraisals and feasibility studies for over 1,000 hotel and resort properties nationwide, ranging from full-service destination resorts to various hotel sizes and orientations. Flanary holds the designation of Member of the Appraisal Institute (MAI), underscoring her proficiency in the field.
Why It's Important?
The role of Desiree Flanary in CBRE Hotels is crucial for the hospitality industry, particularly in navigating complex property tax issues. Her work ensures that hotel and resort owners can manage their tax liabilities effectively, which is vital for financial planning and operational stability. By providing accurate valuations and forecasts, Flanary helps businesses optimize their tax strategies, potentially leading to significant cost savings. This is especially important in a sector that has faced challenges due to economic fluctuations and changing consumer behaviors. Her expertise contributes to the broader real estate market by ensuring that properties are assessed fairly, which can impact investment decisions and market dynamics.
What's Next?
As the hospitality industry continues to evolve, Desiree Flanary's role may expand to address emerging tax challenges related to new developments and acquisitions. The ongoing need for accurate property valuations and tax strategies will likely increase as the sector adapts to post-pandemic recovery and shifts in consumer preferences. CBRE Hotels may also leverage Flanary's expertise to explore innovative tax solutions that align with sustainable and community-focused developments, reflecting broader industry trends. Stakeholders in the hospitality sector will be closely monitoring these developments to ensure compliance and optimize their financial outcomes.
Beyond the Headlines
The work of Desiree Flanary at CBRE Hotels highlights the intersection of real estate valuation and tax strategy within the hospitality industry. Her role underscores the importance of specialized knowledge in navigating legal and financial complexities, which can have long-term implications for property development and investment. As the industry faces increasing scrutiny over environmental and social impacts, Flanary's expertise may also contribute to shaping policies that balance economic objectives with ethical considerations, promoting sustainable growth in the sector.
