Aloft Hotel in San Jose could be converted into an 80-unit residential care hub for seniors, featuring assisted living and memory care. The proposal, submitted by Shashi Group, indicates limited changes to the exterior and interior of the hotel to accommodate this new function. The conversion reflects current trends in the hotel market, as owners are exploring more profitable alternatives, such as senior care facilities. The Bay Area hotel market is facing increasing challenges, prompting this shift in utilization of hotel properties.
The Aloft hotel in western San Jose could be converted into an 80-unit residential care facility with an assisted living and memory complex, according to the proposal submitted by Shashi Group.
The conversion is expected to consist of limited exterior changes and some interior renovations to accommodate the new use, according to the documents filed with the city.
This conversion plan reflects the current hotel market rather than problems with the brand, highlighting the widening woes facing the Bay Area hotel market.
Hotel owners might make more money from a memory care facility than operating a hotel, illustrating a significant shift in asset value perception.
Collection
[
|
...
]