Jones Lang LaSalle Incorporated JLL, which operates under the brand “JLL,” announced that it has inked a deal to acquire LodgeTax, a firm with expertise in hotel real estate tax services and consulting. This acquisition will enhance the Chicago, IL-based real estate service provider’s scope to offer real estate tax consulting services to clients as part of its hospitality program. Though subject to certain customary closing conditions, the acquisition is slated to close within few weeks.
In fact, the hotels and hospitality industry, as a whole, incurs huge expenses in the form of real estate taxes. Given LodgeTax’s solid reputation and innovative methods of reducing tax liability, this acquisition will likely prove beneficial for JLL. With this, the company will be able to help its clients better manage their real estate property-tax needs. Notably, Louis Breeding and David Calverley, the co-founders of LodgeTax, will join JLL as Executive Vice Presidents, thereby aiding the company with their rich experience in the industry.
On the other hand, JLL’s entrepreneurial approach and complementary service offerings will allow LodgeTax to provide customized services according to client requirements.
JLL currently carries a Zacks Rank #2 (Buy).
Investors interested in the real estate operations industry may also consider stocks like Sun Hung Kai Properties Limited SUHJY, CBRE Group, Inc. CBG, Henderson Land Development Co. Ltd. HLDCY. All these stocks hold the same Zacks Rank as JLL.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Be the first to comment