The tax collections will continue to rise throughout 2012 in spite of the CC, not because of it…it generates next to nothing. Kevin Molloy, Kevin Fry, and Nevin Cooley should be sending thank you cards to the folks over a Sight-n-Sound daily. Don’t let this change what should be the real focus of the debate.
The hotels were supposed to embrace the tax because that burden would be far outweighed by the benefit provided. Is the CC providing that benefit? NO! Who are they benefitting and who should be the next in line to pay the bills? The only real benefactors here are Penn Square Partners [the Mariott equitable owners].
An uptick in hotel tax revenues may help ongoing operating costs but the swap/credit enhancement day of reckoning remains on the horizon. The PDCVB, just this past week said, “we can’t sell our way out”.
