Real estate, travel and tourism, supermarkets, construction, and every other section of the economy, are hard-pressed by the worldwide pandemic. Since March 2020, people have started developing different ways of getting accustomed to the new normal. Although governments and policymakers are trying to get things back to normal, it will take time for the economy to come back into the correct orbit. A few sectors are reaping this opportunity to make considerable gains in this situation. You must be thinking about who these individuals are? The answer is the hospitality sector.
1. How to make it possible?
By repurposing old and unused hotels and properties, they are trying to solve the issue of homelessness faced by the workforce. By grabbing this opportunity, they are trying to make some money and cater to the community in the long run. More than 35% of hotels got retransformed and converted into residential units in the present situation. Hence, it is a smooth way of stimulating revenues. Although it is not solving the issue altogether, it is a positive move.
2. How do we convert hotels into affordable housing?
Hotels and houses differ in their approach. The way a hotel got designed is very different from a residential unit. The structures and layouts are other. If you look at the living space, you will see that the overall design and the choice of colors are different. The interior and décor are very different between a hotel and a home. Hence, converting hotel rooms into affordable residential units requires modification and planning. After detailed planning, Maxwell Drever anticipates that hotel owners have to work with professionals to initiate the task of conversion.
You must be thinking that the process is a recent one. However, it is not so. It started taking momentum in the late 19th century and the early 20th century. Since then, housing estates and hotels have got transformed into residential units. However, the modern scenario is very different from the earlier circumstances, but the aim remains the same.
3. What does it take to transform the hotel?
Research and evaluation form the backbone of transformation. As a hotel owner, it is your job to work on your housing design and work with professionals. These individuals with years of experience and knowledge can help you figure out the best blueprint for your conversion process.
Along with this, Maxwell Drever asks readers that you must ensure there are provisions for basic amenities like kitchen, living space, TV, microwave oven, etc. To ensure that your hotels do not fall vacant, you must understand the target audience’s requirements, thereby providing amenities to the workforce population.
The affordable residential unit is not only a solution for the low and middle-income group but also for the economy at large. These individuals serving the economy in different capacities have a role in society. Hence, when hotel owners and property owners cater to these individuals, they are adhering to the interest of the economy at large. Hereafter, whether it is a traffic problem or expenses on other commodities, everything can be curtailed with the help of the conversion of hotels into residential units.