The manufactured terminology and theory of BEA/TAB is a foreign concept to well-informed market participants within the lodging real estate investment arena.
Real property is in a constant state of flux and change, affecting individual assets, neighborhoods and cities. Economic, environmental, government and social forces affect all markets, particularly real estate. Highest and best use often is identified as the key concept supporting real estate use and value decisions.
The case involved a tax appeal of the 2015 assessment of the Disney Yacht & Beach Club Resort in Orlando, FL.