Considerations for converting an existing property into an extended-stay hotel.
Extended-stay hotels fill a unique need in the hospitality industry. Combining elements of traditional hotels and rental apartments, extended-stay hotels can be lucrative ventures if properly managed. As the market for these types of hotels expands, many brands and independent operators are looking to convert older existing properties into extended-stay locations. However, transforming traditional hotel properties into extended-stay versions does require special considerations. Here are some of the important factors to consider.
First, owners who wish to convert a traditional hotel property into an extended one need to hire the right contractor. Oftentimes, contractors who have only worked on standard hotel projects do not have the necessary experience to handle the live-in elements of extended-stay guestrooms. For instance, they may not know how to reroute the plumbing and gas lines to support in-unit kitchenettes. On the other hand, hotel owners cannot necessarily turn to contractors who specialize in developing apartment buildings or other residential structures. This is because these experts may lack experience with the amenities that extended-stay hotels offer their guests. For instance, they may not be able to hook up the necessary utilities that hotels provide for their guests. Ultimately, the hybrid nature of extended-stay hotels requires owners to hire contractors who have specialized experience. Typically, it’s best to work with contractors who have worked on extended-stay projects before.
Another important consideration for owners is making sure that their property is up to code. One of the main challenges of converting an existing hotel into an extended-stay one is that each property is subject to different code requirements. To ensure that the hotel meets the necessary requirements and is able to open without issue, owners should partner with architects and contractors who understand the local municipality’s laws and regulations. Familiarity with local building codes, permitting requirements, and inspection processes will ensure that hotel properties are successfully converted into extended-stay locations.
These are some of the important things to consider when converting traditional hotel locations into extended-stay properties. Looking for an experienced contractor to help you convert your hotel? Then contact Nikki Fox at Parkwest General Contractors at Nikki@ParkwestGC.com. Our dedicated team is eager to assist you with all your building renovation and upgrade needs today.