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.
This project used over 4,100 pieces of cross-laminated timber. It's the fourth CLT hotel in the Army's housing portfolio.
Hospitality developers continue to closely monitor the impact the coronavirus will have on travel demand, according to Lodging Econometrics.
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As hotels begin to reopen, the focus on health and safety takes priority while working to preserve the guest experience.
Modular and prefab construction are already more prominent.
R&D hubs, modular-built hotels, and an award-winning student center on the August 6 “The Weekly”
The resort is slated to open in late 2020.