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Board cuts DoubleTree Crystal City assessment after split vote citing 2025 revenue decline
Summary
Owner argued government-driven revenue losses and a 2025 drop in NOI justify a much lower value for the DoubleTree; after debate the board reduced the assessment to $117,955,400 in a 3–2 vote based on higher expense and FF&E assumptions.
An attorney for the appellant and the property’s representative argued the DoubleTree Crystal City’s 2025 profit-and-loss shows a sustained decline in government-dependent transient and group revenue, producing an approximate $2.7 million government-related revenue shortfall and a 23% NOI decline from 2024 to 2025.
"The budget cuts led to layoffs and limited travel significantly affected transient government business... the government related revenue loss reported in 2025 was 2,700,000 at the subject property alone," the appellant’s representative said, urging the board to value the property on reported 2025 operations rather than a multi‑year projection.
County analysts countered that the hotel had multiyear growth (2022–24) and that a single-year downturn should be tempered by trend analysis and market data; county staff proposed a revised value of $119,717,600. Board members split on how to weight the single-year decline versus multi-year trend; a motion to reduce the assessment using the original assessment base but increasing expenses to 71% and FF&E to 4.8% passed 3–2, lowering the assessment to $117,955,400.
Why it matters: Hotel valuations that depend heavily on government and group bookings can swing materially from year to year; the board’s majority accepted adjustments that favor recent reported operations rather than the county’s modestly revised projection.
