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+--- Thread: OLD CITY CENTRE BUILDING HOTELS (/thread-12.html)
OLD CITY CENTRE BUILDING HOTELS - TEAM HARLFORUM - 09-10-2015
In many European cities rising real estate prices put pressure on the yields of existing uses. Offices and apartments do not pay the required rent, exception are roof top apartments or other special locations. There are several reasons for this. Many of the buildings are old and the structure and layouts do not fulfill today’s requirements. The buildings have a large portion of area with little or not sufficient daylight. Due to the city center location access for clients and employees is often difficult and inconvenient - parking is expensive, traffic congested. Due to the high real estate prices a lease for these spaces is required, which pays in other locations for new and modern offices or apartments with much better infrastructure. The consequences are vacancies of 50% and more. An alternative for owners and investors is the conversion into hotels. The trend to boutique hotels creates lots of opportunities. There is a perfect fit solution for almost every property. From luxury boutique to hostels – branded or unbranded there are many concepts around to find the best fit – economically and technically. The white label brands of the major hotel chains are an additional opportunity, because they offer flexibility regarding number of rooms, room layout, room size, design and size of F&B outlets and welcome experience. - See more at: http://www.hotelsmag.com/Industry/Blogs/Details/61033#sthash.60BdPsM1.dpuf