The entire world has faced the aggravating impact of the sudden pandemic outbreak. It has resulted in a massive threat for the communities and families globally. That is not all. The pandemic also adversely impacted commerce, the economy, and the entire business space says Maxwell Drever. However, the goal here is not to give up because of the deadly virus attack. The idea is to arrive at a solution.
Amidst great crisis, there exists a silver lining as well. The pandemic also has paved a path of opportunity for the workforce community and the homeless people in the United States. The hotel industry is trying to recover the loss it has undergone, and the hotel owners are trying to put some of their hotels into use. One of the best ways to do that is by converting it into a low-cost housing unit that can give shelter to people who need it. However, Maxwell Drever says that this transformation isn’t easy and needs to get executed with precision and planning.
The things to consider
No hotel owners can wake up one day and decide to convert their hotel into a low-cost accommodation unit for the workforce. There is a process that they need to follow. Some of the factors to keep in mind are:
Assessing the use of the existing property
According to the experts, it will take more than three years for the hotel industry to reach the profit that it made before the pandemic outbreak. Hence, a hotel owner needs to assess whether their hotel property can be put to any further use than the conversion. If the hotel owner gets convinced that the conversion is how they can put their property to profitable use, it’s an excellent decision to go for it. Else, if there are any doubts or second thoughts, they should weigh and assess the scopes instead of regretting them later.
Assessing the structure of the hotel
Usually, hotels are best suited to get converted into an accommodation unit because they have amenities like a kitchen, bedrooms, and washroom. There are also other amenities like pools and laundry services. Hence, it’s essential to assess can the lavish hotel seamlessly gets converted to a basic accommodation unit. For the workforce class without making over-the-top changes? If yes, it’s a good idea to go ahead with the conversion.
Check for permits and sanctions
Usually, the hotel needs to take in necessary permissions and sanctions from other authorities apart from the hotel owner. Before it goes ahead with the conversion process. Hence, hotel owners should check for all the required permits and attempt to secure them one by one. If not, then there might be a hindrance during the conversion process. Which can be detrimental for the project and others involved. Since it will involve the law, it can result in endless delays if not dealt with correctly.
Maxwell Drever says that these are the three essential things hotel owners need. To keep in mind before converting their properties into low-cost housing units. It will ensure that the conversion takes place in a hassle-free way.