With the housing crisis continuing unabated and hotel rooms sitting empty, people have speculated about the potential of using hotels for housing.
Repvblik CEO Richard Rubin thinks there's going to be as much as 30% to 40% reduction in the asking price of hotels. "You've got business hotels, and no one is traveling for business," Rubin says. "You've got affordable, recreational hotels, and no one is traveling for recreation."
Apartment conversions are thought to be one path forward for hotels. "They can make very compelling cases in terms of the general bones to convert into apartments," Rubin says. "Generally, we like to use the construction integrity of the existing structure and build within those four walls if possible."
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
