HOTEL PROPERTIES.

Taranaki Daily News, 26 September 1917, Page 7

HOTEL PROPERTIES.

SpfilOUS LOSSES IN PROSrECT. At (he meeting between a deputation of hotel licensees and the 'Premier (th.. Dominion reports) an instance was cited of a hotel on the Main Trunk line where a low estimate o? the value was 12.1,000. That included a large sum of money spent rocenWy by direction of the licensing authorities, and to enable it to b. done the owner had to borrow a large sum of money from the bank. With the I'nurs altered from 9 a.m. to fl y n\. as.-ets were converted into liabilities. The 't'ci -ialion would ruin the license-'' financially, With the reduced hours lie eouH not pay his way. That was a fair sample of what tiie effect would be on oven the best of the country hotels. In smaller towns the consequences would be infinitely worse. Another cast of a city hotel was cited. The licensee-owner purchased the property about two vears ago at £24.000. A further sum of .CoOOO was expended to bring the place up-to-date making £30,000. The closing of the bars at (i o'clock would reduce the market value of that hotel by at least £lO,000. To enable the licenfico-nwner to purchase that property and effect improvements he had to borrow £15,000 from the bank. It was further pointed out that in another case the record of takings (as stated before the National Efficiencv Board) showed that. 40 per cmf. wa» taken between the hours of 0 p.m. and 10 p.m. With the reduced hours, the hotel would not be worth the amount of mortgages on it, and the licensee would be ruined financially. The Efficiency Board recordu would also bear out that 45 per cent, of tn*total takings of another city house were received between (i p.m. and 10 p.m. Another case showed that 00 per cent. was taken during the same hours. Further, it was contended that, with the additional throe hours in the morning taken off, the takings would be diminished by another 10 per cent. The deputation submitted that publicans had a. solemn contract with the electors of New Zealand to retail alcoholic liquors in the terms of the license: also that curtailment of hours witnout compensation was equivalent to confiscation of their property: further that no Government had any right to break its contract without the consent of the elector's of the Dominion, who were a partv to it. Lastly, it, w n .s contended that i' the Licensing Hill were put on the Statute Book, a clause should be included to provide for compensation for ownerlicen.ices, on a b;\sis to be assessed by a Compensation Court.