Hoteliers Consider Investing in Old Buildings

Hoteliers are willing to invest in the revival of historical buildings and repurpose them into lodging facilities, the head of Kerman Province's Hoteliers Society said.

"Old structures, if restored, have the potential to help develop tourism but not much interest is shown in their revival," Ali Moeinzadeh was quoted as saying by travel news website Donyayesafar.com.

To restore ancient buildings and make them profitable, the Revitalization and Utilization Fund for Historical Places has initiated a plan to cede historical buildings to the private sector so long as they are repurposed into hotels, restaurants or lodging places.  

The target is to cede about 100 buildings to the private sector for restoration every year, which means a total of 1,084 buildings will be ready for use by the end of the 2025 Vision Plan.

"Every province has a hoteliers' society that can tap into the potential of these structures and turn them into sources of revenue," Moeinzadeh said.

Iran, a historical country, is home to a large number of old mansions and buildings, which can contribute to the country's nascent tourism industry if managed appropriately and restored carefully. 

Reportedly, 60 restoration projects were offered to as many foreign investors in the last Iranian year (started March 20, 2016) and work is underway on 26 of those projects.

Italian and Swedish investors have recently expressed readiness to fund the restoration and repurposing of historical houses in Kerman, Kashan and Isfahan.

Officials hope to compensate for Iran's woefully underdeveloped hotel sector by increasing the sector's capacity to host tourists by restoring old mansions and turning them into traditional-style lodging facilities.

Caption: Officials want to turn old mansions into traditional-style lodging facilities.