There are so many beautiful old hotels in major cities across the country. They are loaded with history and stories you can only imagine. Some even have sections of the underground railroad or old bootlegging tunnels from the Prohibition Era tucked underneath them. If you hear about a beautiful old hotel that is currently on the chopping block and may possibly be torn down, you can rescue it. Here is how.
Find Hotel Financing Services
You cannot do a thing until you have the financing to back your desire to save this particular hotel. There are hotel financing services available to provide you with funds to buy, renovate, restore, and remodel or build any hotel you want. You will have to have a business plan to back up your request to purchase this hotel, but then you should be able to run through all of the available loans and programs to help you get the funds you will need.
Find a Historic Link
If you can find a historic link to this hotel, it might be its saving grace. If even one event in history happened in the hotel or one famous person stayed there, you may be able to apply for historic preservation rights. If you can do that, you will have to hire a historian to help you get every detail in the hotel just right. However, when the historian is involved and the declaration of a historic landmark is granted, the hotel cannot be torn down. You will only be able to pursue this path if you get the financing to back the project and you can find anything of historical significance tied to the hotel.
Meet with City Planners and Commissioners
Nine times out of ten, when someone wants to tear down an old building, it is because someone in government wants to do something else with the property. The only way (besides the historical landmark route) you are going to convince city planners and commissioners to agree to sell the hotel and its property to you is if you are able to offer them something more valuable than what they want to do with the property. In short, you will have to find the cash number that encourages them to drop their plans for the property and sell the property to you. This will require several meetings with city planners and commissioners before you can stop the demolition of the hotel and claim it for your own.
To learn more about hotel financing services, contact a company in your area like Davis Hotel Capital.
