Renovation 101: Tips for Minimizing the Impact on Your Budget & Guests
By Kalen Willis Senior Interior Designer, Hatchett Hospitality | March 20, 2011
Hotel renovation is on the rise. There are many reasons, but chief among them are:
- brands are issuing Property Improvement Plans (PIPs) for properties that have recently been neglected.
- banks are acting to enhance the value of assets they have foreclosed on.
- owners of older hotels are trying to stay competitive with newer properties. And
- that in today's economic climate, financing is easier for a new look than for new construction.
While the end result of a renovation is almost always satisfying, getting the project done can be hard on a hotel – fiscally and physically. So how can you manage the challenge in a way that minimizes the strain on your budget, your staff, and your guests? Consider these suggestions:
The Required vs. The Recommended
Most brands have some version of a Property Improvement Plan (PIP) or "Refresh Program" that is activated every few years for each property. Typically, there is a list of items that the property is required to revamp and another list of items that are recommended.
Evaluate the recommended items carefully, because doing some of them now is often more economical than doing them later. For example, let's say you're required to replace casegoods, draperies, bedding, and wall covering in guest rooms now but not the carpeting.
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