What is Fuelling the Hotel Conversion Frenzy?
The cost of housing across the United States has risen steadily in recent years. As a result, the industry has searched for unique and non-traditional solutions to create additional units. The hotel market has been a boom for conversion into permanent units as construction and materials costs, long approval times, and high demand shape the market.
In Hospitality Investor's article, "What is Fuelling the Hotel Conversion Frenzy," Partner Morgan Gallagher gives her thoughts on what she's seeing in the market and how changes in California laws could impact it.
“In the City of LA, due to a recent minimum wage increase, many hotels will be reducing services like restaurants, which will create opportunities to convert full-service hotels to a different model."
To read the full article, click here
