Interest Grows In Converting Hotels To Other Uses

Both private and government buyers are finding real estate conversion opportunities with U.S. hotel owners who are reevaluating the highest and best use of their properties due to the COVID-19 pandemic.

Buyers and other investors have for years looked to older hotels as a way to have a ready-built property suited for a multitude of needs: condos, affordable housing, student housing and assisted living. Some have found success in converting hotels to other real estate classes, but interest in redeveloping hotels to other uses has grown over the course of the pandemic due to the financial strain it has caused hotel owners.