Transform Hotels into High-Quality Housing

Ori hotel conversions deliver high-quality, attainable housing — efficiently, predictably, and repeatedly — through the adaptive reuse of existing buildings.

Transform Hotels into High-Quality Housing

Ori hotel conversions deliver high-quality, attainable housing — efficiently, predictably, and repeatedly — through the adaptive reuse of existing buildings.

What We Create

Addressing the housing gap, one hotel at a time

Cities across the country face a housing shortage, with escalating rents, long development timelines, and constrained land supply — especially for the middle class. Meanwhile, thousands of underutilized hotels sit idle in prime, infrastructure-rich locations.

Ori bridges these challenges by turning existing hotels into modern apartment buildings whose units expand at the touch of a button. Using proprietary robotic systems, we transform compact hotel rooms into fully functional, desirable homes that live larger than their footprint — delivering premium living at attainable rents and strong returns for owners.

Hotels in high-demand residential areas hold untapped value

Better for Renters

Well-located studios with premium finishes that expand at the touch of a button — delivering elevated living at attainable rents

Better for Owners & Developers

Lower basis & risk, faster delivery, and stronger rent per square foot

Better for Cities & Communities

Rapid delivery of quality housing using existing infrastructure

Why We Do It

A Once-in-a-Generation Real Estate Opportunity

Across the country, thousands of underperforming hotels sit in prime, high-demand locations — representing one of the largest adaptive reuse opportunities in a generation.

Hotel-to-housing conversions have now surpassed office conversions nationwide, creating a new path to address the housing shortage faster, smarter, and at scale.

Hotels on the CMBS Loan Watchlist, as an indicator of levels of distress in the hotel industry nationally

Standard Conversions

While many hotel conversions have focused on entry-level, Class C housing, Ori fills the gap for residents seeking attainable yet elevated living.

Ori Conversions

Ori takes a different approach — transforming hotels into modern, design-forward apartments that serve the “missing middle”: teachers, nurses, first responders, and young professionals priced out of today’s new Class A market.

How We Do It

Ori makes converting as easy as 1, 2, 3

Our modular systems and standardized process dramatically reduce cost, timeline, and construction risk.

Together, these elements turn a 300 SF hotel room into a highly livable studio apartment that rents at a 10% discount to market — without sacrificing comfort or design.

Cloud Bed

Launched in 2020

Transforms a single room into a living room and bedroom at the touch of a button

Pocket Closet

Launched in 2017

Adds storage and workspace, reclaiming valuable square footage

Compact Kitchen

Smart, efficient, and cost-effective — ideal for extended living

Better Housing, Better Returns

Hotel

Operating Business

Hotel Room Metrics & Value

Average Daily Rate

$120

Occupancy

55%

Annual NOI per key

$6,500

Cap Rate

Asset Value

$73,000

Multifamily

Cash Flow Investment

Apartment Unit Metrics & Value

Monthly Rent

$1,500

Occupancy

95%

Annual NOI per unit

$10,800

Cap Rate

Asset Value

$180,000

What We Look For

Investment Criteria

We focus on well-located, high-potential assets that can be repositioned quickly and efficiently.

Market Requirements

Average studio rents of $1,400+

Property Size

100–300+ key hotels, with rooms between 250–350 SF

Revenue Threshold

Hotel gross revenue < 2x comparable multifamily gross revenue

Zoning Status

As-of-right multifamily, or clear path to approval by closing

Legal Constraints

No long-term franchise or management encumbrances, or union CBAs

Convert with Ori

Ori’s experienced real estate and design teams partner with owners, investors, and municipalities to bring underperforming hotels back to life as thriving residential communities.

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From Vacancy to Vibrancy

FAQ

Why convert a hotel into apartments?

Hotels offer prime locations, existing infrastructure, and underutilized assets that can be transformed into housing far more quickly and cost-effectively than ground-up development. Conversions deliver high-quality apartments—often workforce or attainable units—in a fraction of the time and cost required for new construction.

How common are hotel-to-apartment conversions?

Hotel conversions have become the #1 form of adaptive reuse in the U.S., surpassing office conversions in 2023. More than 5,000 hotel rooms per year are being converted into apartments, and that number continues to accelerate as cities seek faster, more economical ways to add housing.

How does Ori improve a typical hotel conversion?

Most hotel conversions today result in Class C or entry-level housing with outdated finishes and limited design appeal.
Ori conversions provide B+ / A- quality apartments by integrating our expandable systems, enabling units to live significantly larger and feel more modern and functional.
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The result:
- Higher rentability and stronger absorption.
- A better resident experience.
- Attainable rents typically ~10% below market rate Class A apartments.
- Superior investor performance and stabilized operations.

What types of hotels are best for conversion?

Extended-stay hotels—such as Residence Inn, Homewood Suites, Staybridge, and TownePlace Suites—are ideal because they already include kitchenettes, plumbing stacks, and efficient layouts aligned with apartment living.

Standard hotels can also be converted by adding kitchens or kitchenettes.

What size units result from a hotel conversion?

Most Ori units range from 250–400 SF, but because of our expandable systems, they live and function like 500–650 SF apartments.

What entitlements or approvals are required?

Requirements vary by city and zoning district.
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Many municipalities allow a “change of use” by right or through streamlined approvals, especially in transit-oriented or mixed-use districts.
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Ori regularly works with cities to secure zoning pathways, impact-fee reductions, and other incentives that support attainable housing.

What are the typical costs and timelines?

Hotel conversions generally cost 40–50% less than comparable ground-up development.

Depending on scope and permitting, Ori projects can often deliver units within 9–12 months of closing—significantly faster than new construction timelines.

Do hotel conversions require major structural changes?

Typically, no.

Ori conversions rarely involve reconfiguring structural elements or relocating bathrooms or plumbing stacks.

Most of the value comes from interior reprogramming, cosmetic upgrades, kitchens, and Ori system integration, which reduces risk, accelerates delivery, and creates a high-quality resident experience.

What incentives or financing tools are available?

Depending on the jurisdiction, Ori hotel conversions may qualify for:

- Municipal subsidies or grants
- Property-tax abatements
- TIF/TAD support
- Attainable-housing incentives
- Below-market-rate debt or equity
- Federal, state, or local workforce-housing programs
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Ori frequently works with cities to structure incentive packages that improve project feasibility and investor returns.