Hotel to Studio conversion

[Frankie Renaldi]

Good afternoon BP family.  Quick question...As my wife and I were talking about our next move and of course 5 year goals I walked myself right into the discussion of if we could or would want to find a small hotel (run down a bit) and capitalize on a dead hospitality market because of covid. No desire to own or operate a hotel, but would love to possibly turn one into maybe 25-50 studio apts with some above average finishes.  I think there is a market for it in my area if we could find one close to the downtown areas of 3 small cities we have in our area.  Thoughts? Anyone complete something like this?  Hurdles you guys think I would come across or questions that are needed to be asked?  Thanks in advance BP Community.