For the last five years, the number of hotel to apartment conversions has been on the rise, from 801 new apartments created in 2018 to 2,954 new units created in 2022. The 2022 figure was a steep 43% increase from 2021. Why the big jump in hotel to apartment conversions? What are the factors driving hotel conversions? This infographic explains and provides current stats on hotel to apartment conversions.