JLL agrees to acquire LodgeTax in the US

JLL has entered into an agreement to acquire LodgeTax, a leader in US hotel real estate tax services and consulting which was co-founded by Louis Breeding and David Calverley.

The acquisition will allow JLL to strategically expand its hospitality platform to provide real estate tax consulting services to its clients across the USA. The acquisition is scheduled to close within the coming weeks, subject to customary closing conditions.

“Real estate taxes are a very large single expense item for hotels. This acquisition will allow JLL to offer our clients a comprehensive and customized approach to managing their real estate property tax needs; bolstering our asset management, buy-side due diligence capabilities; and working with both buyers and sellers of hotels since a transaction often results in potential changes in real estate taxes,” said Arthur Adler, Americas CEO of JLL’s Hotels & Hospitality Group. “LodgeTax’s innovative approach to portfolio management and proven methods to mitigate property tax liability can have an immediate positive impact on our clients’ hotel portfolios nationwide.”

Breeding (pictured) and Calverley, who each have more than 25 years of experience in the property tax industry, will join JLL as Executive Vice Presidents. Since founding LodgeTax as GSI/LodgeTax in 2000, Breeding has overseen the company’s hospitality appeal assignments in the United States while Calverley has focused on the real estate tax administration. The two founders used to work at Deloitte’s property tax practice.

“Joining JLL allows us to provide a broader scope of services to our clients within a platform that is complementary to ours in terms of offerings and culture. Its entrepreneurial approach enables us to continue to customize our services to our clients’ needs,” said Breeding. “JLL already provides services to many of our clients and now their hospitality needs will be met by one team under one roof.”