CONVERTING HOSPITALITY PROPERTIES
INTO SENIOR LIVING COMMUNITIES
THE MARKET AND FIVE FACTORS TO CONSIDER IN YOUR FACILITY EVALUATION
After a slow, steady recovery from historically low occupancy levels during the Great Recession in 2009, the hospitality world has once again undergone a major blow due to the pandemic. Nevertheless, it presents an interesting situation for the senior living industry to assess. Specifically, the rapidly escalating inventory of distressed hospitality properties provides a tremendous opportunity for adaptive reuse. Hotel facilities offer much potential to satisfy many desirable attributes, ranging from affordability to variety, for new senior living developments. To best leverage the current situation, it is important to understand the market and consider five factors in your facility evaluation.
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