Travel

Why Hilton and Other Hotels May Not Like This Joe Biden Tax Proposal

Hennem08  / Wikimedia

The 1031 exchange is a popular real estate investor tool used to defer taxes on the sales of hotels like the Waldorf Astoria (pictured) by trading up for new ones. Hennem08 / Wikimedia

Skift Take: The so-called 1031 exchanges are tax deferrals on profitable real estate that, at face value, seem like a no-brainer to repeal and generate revenue. But the coronavirus pandemic’s negative impact on hotel building values should cause Washington to reconsider eliminating the provision.

— Cameron Sperance

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