Not every office building is suitable for the conversion into a hotel. In view of the fact that a very high amount of office space is currently vacant…
Not every office building is suitable for the conversion into a hotel. In view of the fact that a very high amount of office space is currently vacant, experts in the hospitality and commercial real estate branch had some very lively discussions about suitable conversion concepts during the trade fair, EXPO REAL which took place from October 10th to 12th in Munich. During the Hospitality Industry Dialogue – a professional all-day event during the fair – Berno-H. Feuring, founder and senior managing director of the group, Feuring – Visionary Hotel Development was amongst those to address participants. Berno-H. Feuring – a very experienced hotelier and hospitality consultant who has been working successfully in the international hospitality branch for more than 40 years – warned his listeners not to have too exaggerated expectations when it comes to re-allocating commercial buildings:More often than not, people want to turn these buildings into five-star hotels and that is exactly what almost never works.
A GOOD LOCATION – According to Feuring, the main criteria for a successful mid- to upscale hotel will always be its location. There are many office buildings which could be used as a hotel. However, Feuring also pointed out, that the structure of the building in question plays a critical role in this. In many cases the only solution is the wrecking ball, Feuring said.
A good example for the successful conversion of an existing property is the Hotel Le Meridien Vienna. Feuring – Visionary Hotel Development was responsible for the development of the 294-room building. Within the development of this project three different plots of ground and buildings had to be joined. It took about ten years to plan the hotel.
It’s never been as easy as today, Feuring encouraged his listeners at the Hospitality Industry Dialogue to examine possible conversion concepts.
The most important thing is to secure an adequate site. Moreover, it is important to make sure that an efficient utilisation of the planned hotel is taken into consideration. Think carefully about the exit of the project before moving the first stone, Feuring warned.
Feuring – Visionary Hotel Development – consults institutional and private investors as well as international hotel operators when it comes to developing new hotels or buying and selling existing hotel properties. Current projects by Feuring – Visionary Hotel Development are – amongst others – the development of a large luxury resort on the Greek West Peleponnes (370,000 square metres) and the construction of an exclusive boutique hotel in a prime location of Kuwait-City.
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