A Century-Old Building Running Tomorrow's Protocols
The Exchange Building is a 19-floor, 200+ unit mixed-use property in the heart of Downtown Memphis. Originally constructed in 1910 as the Continental Bank Building, it stands as one of Memphis's most recognizable landmarks — with its distinctive green copper mansard roof visible across the city skyline.
Today it operates as a hybrid property with four distinct revenue modes: short-term rentals (STR), long-term residential (LTR), work-to-work flexible stays (WTW), and rehabilitation units under active renovation. This complexity — 200+ units across multiple use types, rate structures, and guest profiles — makes it the ideal testing ground for ADAPT protocols. If the system works here, it works anywhere.
The building's operator, Sardor Umarov, founded ADAPT after years of paying OTA commissions on short-term rental bookings while simultaneously managing long-term leases, flexible stays, and renovation schedules — all through fragmented technology that was never designed for mixed-use operations.
Four Use Types, One Protocol
Nightly short-term stays. Full turnover service, daily housekeeping. Peak demand during Memphis events (Beale Street Music Fest, Grizzlies, Elvis Week).
12-month residential leases. Stable revenue base. Tenants use building amenities — lobby, laundry, clubhouse.
Flexible stay length: 3-night minimum to month-to-month. The middle ground — serves traveling nurses, relocations, corporate extended stays.
Units under active renovation, cycling back into inventory. Continuous capital improvement across the 114-year-old building.
The Hardest Test Case
Most hotel tech is built for a clean use case: 100 identical rooms, one rate type, one guest profile. The Exchange Building is the opposite. It runs four revenue modes across 19 floors — nightly hotel stays, 12-month leases, flexible-length bookings, and units under active renovation — all in a 114-year-old building with non-standard floor plans and constant capital improvement cycles.
If ADAPT protocols can handle the distribution, settlement, and dispute resolution for a property this complex, they can handle a standard 100-room select-service hotel. That's the point. The pilot was never meant to be easy — it was meant to be proof.
Operational data — including occupancy rates, revenue per unit, guest demographics, and protocol performance metrics — is shared with ADAPT working group members and prospective pilot participants under NDA. Interested parties can review the public offering overview below.
View Exchange Building Offering Overview