How to Successfully Renovate Hotel Properties: Tips for Controlling Costs and Maintaining Quality

By Fred B. Roedel, III Partner & Managing Member, Roedel Companies, LLC | October 28, 2008

Keys to a successful renovation

Renovation projects are successful only when all involved parties are aware of and plan for the unique challenges they pose. Completing renovations in an operating hotel, making today's standards work in an older building, completing work within a short down period, and effectively dealing with existing and unknown conditions without negatively impacting the budget, the schedule or guests are just a few common challenges.

The keys to a successful renovation project involving one or more hotels are:

  • Having a clear vision and objective for the project.
  • Defining standards for the time, cost and quality of the project.
  • Outlining scopes of work and linking them directly back to the objective and performance standards.
  • Developing a well-conceived and reliable schedule that integrates operations and construction to ensure a smooth transition for transitioning guestrooms in and out of service during the renovation process.
  • Involving qualified contractors who truly understand the work they are undertaking, have the resources necessary to meet the schedule and budget, and the experience to deal with unexpected challenges.

Project Team

No matter how large or small they are, all renovation projects have a set amount of dollars assigned to them. One of the best ways hotel owners and investors can ensure that projects are completed within a defined budget is to pull together a team of professionals who have extensive hotel experience and will work together to oversee the entire renovation process. Core team members should include owners/investors, operators, designers and contractors. Not including construction expertise early on in the process typically lowers the reliability meeting time, cost and quality standards.

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Coming up in March 2018...

Human Resources: Value Creation

Businesses must evolve to stay competitive and this is also true of employment positions within those organizations. In the hotel industry, for example, the role that HR professionals perform continues to broaden and expand. Today, they are generally responsible for five key areas - government compliance; payroll and benefits; employee acquisition and retention; training and development; and organizational structure and culture. In this enlarged capacity, HR professionals are no longer seen as part of an administrative cost center, but rather as a member of the leadership team that creates strategic value within their organization. HR professionals help to define company policies and plans; enact and enforce systems of accountability; and utilize definable metrics to measure and justify outcomes. Of course, there are always new issues for HR professionals to address. Though seemingly safe for the moment, will the Affordable Care Act ultimately be repealed and replaced and, if so, what will the ramifications be? There are issues pertaining to Millennials in the workforce and women in leadership roles, as well as determining the appropriate use of social media within the organization. There are new onboarding processes and e-learning training platforms to evaluate, in addition to keeping abreast of political issues like the minimum wage hike movement, or the re-evaluation of overtime rules. Finally, there are genuine immigration and deportation issues that affect HR professionals, especially if they are located in Dreamer Cities, or employ a workforce that could be adversely impacted by federal government policies. The March Hotel Business Review will take a look at some of the issues, strategies and techniques that HR professionals are employing to create and sustain value in their organization.