Hotels now account for over one-third of adaptive reuse projects
For the first time ever, hotel to apartment conversion projects have overtaken office-to-residential conversions.
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For the first time ever, hotel to apartment conversion projects have overtaken office-to-residential conversions.
In the continuous battle against housing shortages and the surplus of vacant buildings, developers are turning their attention to the viability of adaptive reuse for their properties.
As seen in the Q1 2024 U.S. Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), at the end of the first quarter, there are 6,065 projects with 702,990 rooms in the pipeline. This new all-time high represents a 9% year-over-year (YOY) increase in projects and a 7% YOY increase in rooms compared to last year.
This $500 million mixed-use development will take up nearly nine blocks.
Travelers are always looking for a home away from home, and the tourist industry needs these vacationers to survive. Creating a winning hotel can benefit everybody, and people will return to your retreat time and time again.
Ken Martin views this sector as an incubator of innovation.
Marriott has the most rooms currently under construction with 482 Projects/67,434 Rooms.
New entrant, Hotel Trio, will play up location and affordability.
The 45-story, 500-foot-tall tower is composed of two primary volumes.
The brand’s focus will incorporate aspects of its properties’ surrounding communities.
The development will include apartments, ground-floor retail, and a five-story hotel.
By varying an LED luminaire’s color temperature, it is possible to mimic daylighting, to some extent, and the natural circadian rhythms that accompany it, writes DLR Group’s Sean Avery.
Over 11 different fitness equipment and accessory options are available in each suite.
The project team consisted of MIT graduate students across five departments.