Thursday, January 29, 2009

Opportunity knocks for the hotel hospital

All talk at the moment is of cut backs and job losses, but we should not let opportunities pass just because we are in a downturn.

Today saw the announced closure of the 120 room Castletroy Park Hotel in Limerick. It is also felt that many more large hotels will close over the next few months as there is huge over-supply in the market.

What to do with these assets? Turn them into modern hospitals. They have the same design as hospitals - reception, rooms, suites, kitchens, parking. It would require a major refit but most modern hotels are designed to be updated easily. Many of these are in excellent locations served by public transport.

With a little investment they could be converted into some long-term care facilities. With a little extra some of them could become specialist care centres in key areas.

With some predictions of one hotel a week to close during 2009 there will be a choice of locations and facilities to choose from. When opportunity knocks open the door.

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