REPURPOSING A 50 ROOM FORMER FRANCHISE HOTEL

[Kishan Patel]

Hi all! 

We recently purchased two 50 room hotels on the same parcel from the bank. One of the buildings is up and running as a franchise hotel, the other one, which used to be a franchise hotel, was shut down 3 years ago due to a burst pipe. We are looking to repurpose the closed down hotel into something else. I am currently looking into different avenues such as low income housing, senior housing, rehab center, etc. The properties are located in a small town located right outside of a city with a population of 45,000. Ideally we would fix it up and lease it to a company/agency, let them run the show, and just be a landlord. I am curious to see if anyones been in a similar situation with a larger commercial building or how you all in the BP community would try to find use for the former hotel. Are there agencies out there that I could reach out to and see if they're interested in using the building for something? Would it make sense to contact a leasing agent? Appreciate any feedback!