The Hotel Investor Playbook How to Build a Hotel: Expert Insights into Real Estate Development | Zeke Freeman E8
Dec 3, 2024
Zeke Freeman, an architect and developer with over 20 years of experience, shares his insights into transforming properties into thriving hotels, including a current project near Red Rocks Amphitheater. He discusses the intricacies of zoning and entitlement processes, creative property conversions, and the importance of a strong development team. Zeke provides valuable tips on risk management, raising capital, and maximizing ROI, making this conversation a must-listen for anyone interested in hospitality real estate.
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Start With Zoning and Design
- When converting office space to hospitality, start with verifying zoning use and change of use permissions.
- Design considerations like bathroom layouts vary and can suit hostels better with communal facilities.
Urban Sites Must Be Amenities
- Urban hotel sites must inherently be amenities or near attractions to justify high land costs.
- Proximity to restaurants, museums, or tourist destinations is key to urban development success.
Mitigate Risk with Contingencies
- Mitigate risk by placing properties under contract contingent on site development plan approval.
- Use due diligence periods (45-60 days) to ensure zoning, parking, and unit counts pencil out before finalizing purchase.