The prospect of a new hotel on St. Thomas — the first new hotel in the territory in more than 25 years (The Daily News, Jan. 25) — is exciting news. And even more exciting is the developer’s statement that they will not apply for EDC tax benefits.

This is good news indeed, as most of the territory’s hotels are EDC beneficiaries. As such, they are exempt from having to pay the territory’s gross receipts taxes, property taxes and excise taxes and up to 90 percent of their federal taxes.