Commercial Real Estate Book - Leasing Book Preview

• Walk-up apartments —These can be anywhere from a 2- to 6-storey complex without an elevator. • Special-purpose housing —These are complexes that target a specific part of the population, such as seniors, students, and low-income families.

HOTELS

There are five main types of hotels:

• Full-service —These are stacked with guest services and top amenities. Those can include top restaurants, conference rooms, convention space, spas, shops, and gyms. They are usually located in the central business districts or downtown areas that see the most tourists. Examples are the St. Regis, Westin, and Hyatt. Their success usually depends on the quality of their on-site amenities. • Limited-service —These are a step down in amenities and service but still includes meeting rooms, high-end pools, and gyms. These may not have on-site dining or convention areas like full-service hotels do. Buildout operations are more predictable than full-service hotels on the real estate side. Examples are Holiday Inn and Hampton Inn. • Budget —These could have one or two amenities for guests but mainly just get by with providing the basic necessities for a low rate. Examples are Super 8 and Red Roof Inn. • Extended-stay —These have larger rooms and better kitchens because it is designed for people staying a week or more.

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