FX.co ★ 3 ways hotels survive during COVID-19 crisis

Hotel as affordable accommodation

Plato's Cave in Branson, Missouri, US

Before the coronavirus crisis, the building of the future Plato's Cave Hotel was closed. In fact, it was a rather shabby place. However, the real estate development firm Repvblik decided to buy it up and undertake a large-scale reconstruction. That is how a 340 apartment hotel appeared. Due to a low demand for hospitality services, Plato's Cave was not able to function properly. Thus, its owners had to develop a new strategy to attract customers. They turned the hotel into affordable housing. Studios are priced at $545 per month for 6-month leases and $495 per month for 12-month leases. Utilities will cost additional $50 per month. This is a relatively reasonable price. For example, apartments just across the street cost $700 per month. On top of that, hotel guests will have an opportunity to go to the gym, swimming pool, and use the billiard room and other facilities on the territory of the hotel. Owners of Plato's Cave liked the idea of affordable apartments so much that they wanted to buy and rebuild about twenty more hotels that were in decline amid the crisis.

Hotel room instead of office for remote employees

Wythe Hotel in New York, US

The idea of ​​renting hotel rooms as office spaces to remote employees came to hotelers this summer. Currently, numerous hotels in Moscow offer their clients such services. However, the owners of the Wythe Hotel boutique hotel in Brooklyn were even more creative. They converted some of the hotel rooms into workspaces. This idea boosted the hotel’s earnings. In fact, experienced designers were involved in the renovation project. They transformed the loft-style hotel rooms into office spaces based on the coworking principle. Beds were replaced by wooden tables, chairs, and lamps. The rooms were equipped with all necessary copying equipment. People can rent such a workspace for a day. The concept of the Wythe Hotel owners is based on the idea that office workers tired of their domestic routine can escape from their homes and work properly.

Residential building instead of hotel

Dinham Hall Hotel in Ludlow, UK

Dinham Hall is located in a small historic building dating back to 1792. It consists of two detached cottages and contains only 16 rooms. The hotel has the interior designs of the Georgian era. The rooms are decorated in a classic English style. Dinham Hall is located right across a castle in the heart of Ludlow. This summer, the influx of guests was small. Therefore, the owners decided to review their concept. They transformed the buildings into residential apartments. At the same time, the owners want to preserve the external and internal facade of the detached cottages as much as possible. That is, they will undertake minimal reconstruction. The owners plan to add only a parking space for fourteen cars.