Entrepreneurship applying existing and idle buildings to tourism is a unique opportunity to balance economic development and protection of the cultural heritage. Repurposing old or derelict structures such as turning them into heritage hotels, cultural centers, or multi-purpose buildings gives birth to authentic experiences attracting history and culture-seeking visitors. These buildings, with their distinctive architecture and historical significance, are an immediate link to the past, stimulate pride locally, and bring economic returns to communities. This model of business not only conserves cultural property but also renews cities, drawing investors, tourists, and new businesses, and therefore creates regional development and city regeneration. For example, the reuse of old industrial sites or colonial buildings as boutique hotels, museums, or shopping areas is attractive to heritage tourists, who tend to stay longer and spend more compared to the usual tourist. These types of projects typically involve coordinated efforts between disciplines such as tourism planning, heritage conservation, and business innovation to maximize both economic and cultural benefits. Major hotel brands have successfully repurposed heritage buildings, blending luxury and heritage to serve growing demands for genuine stays. The movement encourages the use of existing structures as entrepreneurial hubs that maintain identity and promote sustainable tourism. In summary, the use of old and abandoned buildings for tourism entrepreneurship taps the cultural and economic value of heritage sites. It encourages sustainable urban tourism through the application of conservation along with entrepreneurial business practices that interact with tourists, stimulate the local economy, and keep history alive for generations to come. This symbiosis between preservation and entrepreneurship is critical in creating unique tourist attractions that offer unforgettable, value-based experiences.
Houshyaramiri et al. (Tue,) studied this question.