Philly Officials To Mull $75M Tax Break For 2 Hotel Projects

Law360, New York (November 5, 2013, 2:09 PM EST) -- The Philadelphia City Council will consider Thursday whether to give two proposed hotels a combined $75 million in tax breaks, but some area hotel owners say more rooms in the city would hurt the industry as a whole.

Philadelphia projects that the new 700-room Center City hotels — the W and the Element — will net $25.8 million in tax revenue over the next two decades, plus an additional $12.3 million in tax revenue that would go directly to Philadelphia's ailing public schools.

But the city...
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