Exploring Hotel Conversion Opportunities: A Guide for Hoteliers
The landscape of real estate and property development is continuously evolving, presenting new opportunities for investors and property owners. One such innovative approach is hotel conversions, where existing hotels are transformed into student housing, apartments, shelters, etc. This guide will delve into how you can determine if your hotel holds potential for such a conversion, […]
Tucson Motel to be Converted into a Shelter, Apartments after $2.6M Sale
Jigar Desai, with NewGen Advisory, handled the $2.6 million sale of the 30-unit Amazon Motel on two acres of land at 1135 W. Miracle Mile, near Fairview Avenue.
Arizona Hotel to Homeless Housing Project
Phoenix (May 24, 2022) – Dinesh “Dan” Rama and Kishan Gohel of NewGen Advisory proudly announce the sale of the Days Inn by Wyndham hotel in Phoenix, Arizona. Located within a heavily populated area near Downtown Phoenix and Phoenix Sky Harbor International Airport, this hotel consists of 50 units on 1.4 acres of land. The […]
NewGen’s Latest Closing Will Assist the City of Tempe in Expanding Housing Options for Those in Need
Phoenix— September 17, 2021 — NewGen Advisory (NewGen) assisted in the acquisition of the 40-unit Rodeway Inn by the city of Tempe to expand the city’s housing and shelter options. This acquisition will provide the City of Tempe with much-needed stability for people working with the city’s HOPE homeless outreach specialists to locate more permanent […]
NewGen’s Latest Closing Will Assist the City of Flagstaff in Expanding Housing Options for the Homeless
Phoenix— September 14, 2021 — NewGen Advisory (NewGen) assisted in the acquisition of the 44-unit Travelodge Hotel by Housing Solutions of Northern Arizona (HSNA) to expand the city’s housing and shelter options. This new acquisition will provide those in northern Arizona who have faced homelessness with another choice for housing. HSNA hopes to provide a […]
NewGen Advisory Delivers Results During Pandemic Squeeze on Hotels and Housing
Phoenix, May 2021 – NewGen Advisory (NGA) created a task force to help hotel owners and alternative use buyers during the pandemic. The initiative tapped expertise from multiple industry experts to help hoteliers safeguard their investments and increase the number of dwelling options for the depleted housing market. NGA’s task force team of hospitality experts […]
8 Factors to Consider with Hotel Conversions
It’s true… the Covid-19 pandemic has dealt a major blow to the hospitality industry. With tourism stifled and convention centers abandoned, many hotel owners have put their hotels for sale at bargain prices. Enter the savvy real estate developers who understand the cost of construction and recognize the value in acquiring and then converting hotel […]
Why Hotel Conversion?
In 2019, hotels across the country experienced a tremendous bull run from the last recession. Capital was abundant, supply was plentiful, and demand was high. Enter the COVID-19 pandemic of 2020. The hotel industry halted abruptly with stay-at-home orders and nationwide lockdowns. Occupancy and revenue for hotels plummeted to record lows. Many industries struggle to […]