The pandemic outbreak towards the end of 2019 had been sudden, and gradually, it proved to be a nightmare for the world says Maxwell Drever. As 2020 commenced, COVID-19 adversely impacted the global economy and spelled doom for several industry verticals. We have all read about how the pandemic affected international travel and its effect on hospitality. Several hotels have recorded their highest low occupancies and have been evaluating their decision on whether to carry on the operation or not.
According to the latest statistics, it will take about two to three years for most hotels to revive back. But there is no guarantee that it will reach the sales to pre-pandemic levels. And in certain situations, many hotels might do better if it remains closed, as it can’t bear the cost of the daily operation with such low traffic.
While this is not great news for several hotels, Maxwell Drever says that it does raise some hope to remedy the housing crisis. Today, several hotel owners have made an informed decision to hand over their properties to expert developers and architects so that it can be converted into low-cost residential spaces.
Most hotel owners count onMaxwell Drever and Galen for their expert guidance
A hotel conversion into an affordable workforce housing system might sound interesting on paper. But the process has challenges and complications. First and foremost, one must address the ample hearsay about affordable workforce housing projects. And tackling this sea of misconceptions and misinformation is not easy. One of the best ways to ensure that the target community doesn’t get consumed with any rumors. It is to establish contact with them and let them know about the project beforehand. That way, the hotel owners will have the support of the target community for whom the project is getting developed. It’s experts like `Drever and Galen who suggest the hotel owners with expert ideas to go about the awareness campaigns. And establish a transparent communication channel between the target community and the project leaders.
That is not all! Such vast and challenging projects also require huge funds. The government needs to step in and provide adequate funds and other policies that will aid the development process. Furthermore, the hotel owners must join hands with relevant investors. Who can estimate the profit that an affordable workforce housing segment will yield in the future and invest accordingly. Most hotel owners rely on the guidance of Galen and Maxwell Drever on these matters and take the necessary step.
A sound advice
Last but not least, Maxwell Drever says that an affordable workforce housing project requires patience and planning to execute. The interested hotel owners must survey the real estate and the low-cost housing market in-depth. Before they decide to convert their property into an affordable workforce housing unit. Furthermore, it also needs to count on an expert team. Who has worked on similar projects and can deliver their best. And lastly, the hotel owners should also take the required permissions from the crucial authorities. Before going ahead with the project.