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The pandemic has significantly slowed business travel, which has battered the hospitality industry, especially hotels. And with business travel not expected to return to pre-pandemic levels until 2025, many hotels continue to experience near record-low or below-average occupancy rates, forcing some to close. But developers who see opportunity where others see despair are snatching up shuttered hotels and converting them into apartments. Although the practice began a few years ago, it blossomed during the pandemic.

United statesNew yorkNew havenJamie heffernanYitz rabinowitzMichael freimuthEric adamsAdam hastonAnthony kolichJason schlesingerFarmington marriottDavid parisierAxela group of waterburyGateway hotel dallasRed lion hotelCapital region development authority