Christian OsgoodCEO, Multifamily Strategy · CEO at Multifamily Strategy

How Hotel Conversions Can be Rewarding

16 Apr 2026 · 1 min

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A developer bought a run-down 30-unit motel in Moses Lake, Washington and converted it into extended-stay housing. The project partners with the state corrections department to house people in need, generates strong financial returns, and solves an affordable housing shortage despite being complex and unglamorous work.

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Behind me is a 30-unit motel. This thing was absolutely beat up when I bought it, and affordable housing was a huge need here in Moses Lake, Washington. Now we renovated the whole thing. Now it's an extended stay hotel, which essentially means it's run very similarly to multifamily. People can stay as long as they want. We provide affordable housing here, as well as working with the Department of Corrections to house people who are in need. Now, is this the sexiest real estate of all time? Probably not. But is it a needed asset that you can feel fantastic about? Yes. And we happen to make a lot of money doing this. So Hotel conversions in your market, if you want to do these, they're harder projects than you might think, but when you pull them off, very, very rewarding.