DWD have been instructed on both the 2010 and 2017 Rate Lists to review the values adopted for Landmark Hotels, which includes Royal Lancaster Hotel in Bayswater London.
The rateable value of the hotel is around £4m, giving rise to an annual occupied liability of around £2m. Central London hotels are valued on a matrix derived from analysed receipts and expenditure information. Based on trading information and the physical circumstances of the property the values applied were renegotiated.
During a refurbishment programme at the hotel, the impact on business rate liability was considered and the most cost effective relief provisions identified in the light of the local authority’s charging policy. A strategy to reflect the works was prepared and successfully implemented. We obtained a rolling pattern of relief reflecting the areas being refurbished at different times, ensuring that the hotel only paid rates on occupied elements.
DWD continue to provide advice for Landmark Hotels for 2017 List business rates issues.
Please contact Andrew Meech for further information.