In an effort to rebuild the hospitality industry and stabilize the workforce, the state of Georgia has created a Hotel Relief Grant Program for hotel owners who can demonstrate a negative economic impact as a result of COVID-19. Georgia’s hotel industry was heavily impacted by the pandemic, and the funds are designed specifically to get employees back to work and assist with operational expenses.
Eligible Georgia hotels can participate by showing at least 15% RevPAR loss from 2019 to 2020. RevPAR is the revenue generated per room regardless of rooms being occupied and is calculated by dividing total room revenue by total rooms available. Those with multiple properties will need to apply on a property-by-property basis.
The application period begins May 15. The local Ryan team is available to answer questions and assist you with applying to the program.
TECHNICAL INFORMATION CONTACT:
Brad Wallace
Principal
Ryan
404.942.6346
brad.wallace@ryan.com
The material presented in this communication is intended to provide general information only and should solely be seen as broad guidance and not directed to the particular facts or circumstances of any individual who may read this publication. No liability is accepted for acts or omissions taken in reliance upon the content of this piece. Before taking (or not taking) any action, readers should seek professional advice specific to their situation from Ryan, LLC or other tax professionals. For additional information about this topic, please contact us at info@ryan.com.
- Topics
- Brad Wallace
- Property Tax
- Georgia