The COVID-19 pandemic has severely affected the hospitality sector and the hotel industry in different parts of the world. Policymakers are thereby considering whether to encourage the reuse of old and distressed hotel properties as housing or not? After all, the way hotels get constructed remains very distinct from the housing estates. Remember that there has been a constant requirement for streamlining the housing supply in the past few years.
It is because the workforce population has increased in leaps and bounds. However, conversion rates are not in conformity. In this new aspect, new housing policies and initiatives are a must, so that hotel to housing transformation takes place effortlessly. Governments can make the conversion process feasible by altering regulatory constraints and zoning provisions.
🖋 What are underlying constraints?
One challenge to conversion is local and state land-use policies. Zoning practices govern the housing development and thereby affect the hotel industry, as stressed by Maxwell Drever.
- Equally significant, the design and layout of every building may also limit its feasibility for conversion. For example, residential estates need more vast yard space than hotels.
- The area to floor ratio is meager for a residential building and thus makes it challenging for hotel owners to convert their estates into houses.
Converting to homes also triggers accessibility requirements for individuals with disabilities.
🖋 Understand the current requirement
As already stated, current rules and regulations allow some conversion with regulatory barriers. Experts point out that easy conversion is not a one-day activity. Hence, appropriate analysis of zoning resolution and proper conformity with these is the duty of the hotel owners. If you look at residential zones, you will understand that taking advantage of this is not easy.
Rezoning properties through land-use procedures allows residential use and hotel transformation into housing units. For this, alteration of old building codes and initiation of new housing policies is vital. By paying attention to zoning codes, hotel owners can reap the benefit of the grants and initiatives provided by the government.
🖋 Work on the details for a better grasp of the matter
New federal and state legislation may facilitate the transformation. As various papers explain, several federal and state lawmakers’ proposals were underway to waive land-use regulations and start the easy conversion. However, the final role is that of the state legislature.
Hence, Maxwell Drever reflects by working on the legal aspect, governments can reconsider their approach to the hotel industry.
It will help them grab more revenues and bring more housing supply to the city centers. Along with this, transforming hotel rooms into residential units is a complex financial endeavor.
Hence, hotel owners require a smooth flow of revenues for the ongoing repair and recovery. Policymakers must carefully access the hotel conversion and provide the funds necessary for the transformation. Various considerations apply to land use and hotel transformation. Hence, hotel owners must analyze the building codes and supportive rules and regulations if they want to get a supportive backup.
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