Hotel construction 2021 - challenges and opportunities
Zeit & Ort / Time & Place
The effects of the pandemic have hit the hotel industry with no detours and with full severity.
Existing hotels mostly had to close immediately and are still struggling to return to a reasonably profitable business.
In the case of planned and / or under construction projects, the question arises whether they can ever become profitable? A building ruin is not a solution, nor is an aborted planning. Substantial resources have already been invested in both cases.
Even before the pandemic, there was very dynamic growth in the area of serviced apartments. From this the question can be derived, which is more profitable - a hotel or serviced apartments? Is a serviced apartment - i.e. a furnished apartment for short or long-term stays with hotel-like amenities such as room service - an alternative to the planned hotel?
Can a hotel property be turned into a residential property without any consequences under building or tenancy law? What do you have to consider? What does this mean for interior design, especially in areas such as the bathroom?