What do a prison in Istanbul, a town hall in East London, a colonial mansion in Peru and a Stockholm girls’ school all have in common?
All these buildings have left behind their former occupations and have been given a new lease of life as a hotel!
This blog post will discuss one of the hotel industry’s most innovative and exciting new trends: conversion.
Conversion refers to transforming a non-hotel structure into a hotel.
You’ll discover how understanding this up-and-coming hotel trend can surprisingly benefit your business.
So, what exactly is a hotel conversion?
On THP’s database, we define hotel conversions as the transformation and adaptation of existing non-hotel structures for hospitality use.
These non-hotel structures span across multiple different asset types; from former office buildings, post offices, government buildings, and police stations.
In architecture, this practice is known as adaptive reuse. It’s an increasingly popular way to breathe new life into tired old buildings.
Most cities, towns and regions have plenty of old abandoned buildings. Conversion can result in these turning into some of the most unique and innovative hotels out, with a less intensive environmental footprint to boot!
Conversions are rising around the world and cities with limited real estate are seeing more non-hotel structures converted into hotel buildings.
But they’re also popular within their communities, who tend to enjoy seeing old buildings restored to their former glory. Some of the most successful hotel projects in recent years have been conversions, and they’re a big driver of customer interest.
How can I get involved in a conversion project?
Every conversion requires a different approach from the supplier side.
As you can imagine, flipping a 120 year old abandoned fire station (see the London Road Fire Station) is a very different job to doing the same with a wartime pillbox bunker (à la the Gruner Bunker St Pauli).
Some conversions require more input from the AD&C side, with certain projects involving landscape designers, engineers, or environmental technologists.
Other projects, however, call for more involvement from the F,F&E and O,S&E sectors. This could range from anything to fitting out a brand new lobby, or dressing the staff in uniforms.
Commercial real estate developers typically handle conversions, as they possess the funds and expertise required for these challenging projects.
In general, conversions use less building materials than other construction types, so depending on your business, conversion might not be right for you.
A conversion case study: London
So now you know all about hotel conversions, it’s time to take a look at some of the THP team’s favourite upcoming projects.
London serves as a perfect city for implementing adaptive reuse. Filled with plenty of historic buildings, low on real estate and backed by a rich cultural heritage, the British capital has long been at the forefront of this trend.
Waldorf Astoria Admiralty Arch
The Waldorf Astoria at London’s historic Admiralty Arch is one of the most exciting hotel conversions in the city, mostly thanks to the building’s prime location and royal connection.
The Grade I listed building is located on the Mall, one of the most famous streets in the British capital, with Buckingham Palace just a stone’s throw away.
Hilton plans to complete its conversion of the arch into a 100-room hotel by 2025.
The British government sold Admiralty Arch on a 125-year lease in 2011, and Westminster Council approved its use as a hotel in 2013.
King Edward VII originally commissioned the iconic London landmark in 1901 to commemorate his mother, Queen Victoria, and it stands at the end of the Mall opposite Buckingham Palace.
Reuben Brothers purchased the building last summer. The property developers acquired the building from former owner Prime Investors Capital, and have begun working closely with Hilton to “accelerate” the project.
BT Tower
London’s imposing 189-metre-tall BT Tower will become one of the city’s most recognisable hotels. Its current owner agreed to sell the tower to American hotel giant MCR Hotels for £275 million.
The Grade-II listed tower was London’s tallest building until 1980, and is one of the city’s most iconic landmarks. Originally home to the BT Group’s telecommunications materials, technological changes eventually rendered the tower obsolete. The tower is ready to serve a new purpose on London’s skyline.
British architect Thomas Heatherwick is reportedly joining the project, but the opening date remains unconfirmed.
However, BT’s complex telecommunications equipment housed within the tower means the hotel is a fair way off completion. MCR confirmed it would take “a number of years” for BT to move out.
A SaaS database filled with upcoming conversions
THP’s database has over 650 conversion projects listed, with more added every single day.
Inside each conversion project page on the THP database, there’s a clear picture of what each conversion entails, so you can assess if it is the right project for you.
You can easily find the contact details of the relevant stakeholders for all these projects. This lets you reach out and see if you’d be a good fit.