Coverting Hotels into Multifamily

[Peter Cogliano]

Hi All,

With the past two years wreacking havoc on the hospitality space I have seen a lot of opportunities to grab these assets at a great discount. These areas are densly packed with hospitality assets so the demand is no longer there to rent them as short term stays. However, these same areas are incredibly hot for rentals and as most of the US has experienced, supply is at an all time low.

That being said, curious if anyone has tried their hand in converting from hotel to multi family units? The two big things that come to mind are zoning and permitting but would love to hear if someone has personal experience.

Thanks!

Peter