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<img src = "data: image / svg + xml; utf8,"data-src =" https://cdn.nar.realtor/sites/default/files/styles/wysiwyg_small/public/2021-case-studies-on-repurposing-vacant-hotels-cover-05-07-2021- 300w-400h.png? Itok = RH19aVBd "class =" b-lazy "width =" 280 "height =" 373 "alt =" Cover of the case studies on the conversion of vacant hotels / motels into apartment buildings report "title =" Cover of the case studies on the conversion of vacant hotels / motels in Multi-family houses "/>
An obvious adaptive reuse of vacant hotels / motels is for apartment buildings. In 2020, hotel occupancy fell to 37% as the COVID-19 pandemic severely restricted leisure and business travel and events. Even if demand for accommodation recovers once normal is back, fierce competition from short-term rental providers will continue to challenge the viability of the accommodation industry. On the other hand, there is an acute shortage of living space.
In light of the fact that remodeling vacant hotels / motels is a win-win solution to address under-utilization of hotels / motels and reduce housing shortages, the Advisory Board on Commercial Real Estate Research, chaired in 2021, recommended Dawn Aspaas , and Vice-Chair, Beth Cristina, to conduct a study into converting vacant hotels / motels into apartment buildings to provide some insight and best practice. This report is the result.