Recent Tax Incentives Encourage Another Look at Sustainability |
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With increased expectations from customers, attention from the media, and regulatory scrutiny, sustainability has made its way to the forefront of the hospitality industry. Sustainability has become a business imperative as lodging companies seek to improve operational efficiencies and respond to conscientious consumers as well as the actions of their competitors.
Many hoteliers are implementing green retrofits to their properties to save money while improving brand image with their customers. The challenge in this economy is paying for the upfront costs of the retrofits and achieving a return on those investments. The answer in many cases can be found in the recent tax provisions from the American Recovery and Reinvestment Act of 2009 (“ARRA 2009”).
This Act contains a number of tax provisions that provide significant value to lodging companies that are focused on reducing energy use through efficiency or producing renewable energy. The magnitude of funding and the emphasis on energy efficiency and alternative energy usage, encourages renewed discussion around “going green” even during these challenging economic times.
Related Content:
Resources: Deloitte Tax: Obama Budget Proposal Resource Center
Dbriefs Webcast: The 2010 Obama Budget: Potential Impact of the New Tax Proposals
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Recent Tax Incentives Encourage Another Look at Sustainability
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