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Redeveloping the Historic Hotel: Challenges and Opportunities
Historic buildings, including those specifically built as hotels, were not designed to comply with today’s federal and state laws, let alone the separate requirements for lenders underwriting the purchase of these assets or the life-safety, amenity, and other requirements typically required by franchisers. Nevertheless, historic buildings remain an attractive option for urban “development” opportunities. This session will discuss the unique challenges posed by historic buildings, including those historically operated as hotels as well as those converted to hotels, from acquisition to financing to securing a franchise. Specifically, the session will cover site acquisition when acquiring an historic property, architectural issues, legal and finance issues, preservation, and franchising. The session will use examples from the panelists’ experience to illustrate their points.
- Which historic buildings are good candidates for operating as hotels.
- What to look for during the due diligence stage when purchasing an historic building for hotel purposes.
- How to underwrite an historic building for financing.
- How to work with a franchisor to secure a franchise for an historic building.
- Joseph W. Haney III, Esq., Haney LaBriola LLP (tentative commitment)
- Sajan A. Hansji, Principal, Hansji Hotels (tentative)
AIA - HSW
- Building Science and Performance
- Design and Design Services
- Project Management
- Project Types
- Economic Development
- Urban Design