Adaptive Reuse Deeper Dive: Extended Stay Hotels

Posted By: Stephanie Beeman Blog ,

An artice in GlobeSt.com explains why extended stay hotels have become such desirable candidates for apartment conversion. One of the chief benefits is the layout, which already supports apartment unit amenities and utilities. Also, "one of the biggest housing markets right now is work-force housing," explains David Reina, a partner in Morris, Manning & Martin LLP's Hospitality Practice. "Extended-stay units are particularly well suited for that type of housing with a smaller unit size and fewer overall amenities.”

Although these types of conversion projects aren't new, conditions created by the pandemic have led to a marked increase

From the article: 
"there is plenty of reason to believe that the dynamics that created this trend aren’t going away anytime soon. While Reina says that it is hard to predict the future of hotel-to-apartment conversions, he agrees that the redistribution of demand is a good indicator that this is a longer-term trend. “The demand for housing units is so strong, and so strong across the country,” he says. “It’s hard to see this trend fully abating any time soon, even as the hospitality industry continues to climb out of the hole created by the COVID pandemic.”

Read the full article HERE.