Streamlining Renovations: Six Important Best Practices
By Fred B. Roedel, III Partner & Managing Member, Roedel Companies, LLC | August 07, 2011
Renovation projects are successful only when a host of elements come together. The processes and systems that companies develop over time to improve their overall operating performance are often times referred to as Best Practices. Whether you think the term 'Best Practices' is a fad or not, successful companies are often that because they do certain things very well. We have been in the business of owning, operating and renovating hotels for over 40 years and the following is our list of best practices when it comes to successfully renovating hotel properties in an operating property.
- Establishing the right team
- Developing a clear vision and objective for the project
- Defining standards for the time, cost and quality of the project
- Developing the correct and complete scope of work
- Well coordinated construction process
- Involvement and communication
#1 – Establishing the Right Team
The first step, and possibly the most difficult, is to establish the best group of people to be involved in the renovation. One of the best ways hotel owners and investors can ensure that projects are completed within a defined budget is to pull together the right team of people who have the right hotel experience and will work together to oversee the entire renovation process. We have done this for years and the base team members we include are the operators, designers and contractors. For us, not including some level of construction expertise early on in the process, has historically lowered the reliability of meeting the time, cost and quality projections of a project.
#2 - Objective / Vision
Developing a clear vision and objective for a particular project is critical to keeping a renovation project on track. We spend a great deal of time and energy making sure we truly understand our market, our customer and the brand we are involved with when undertaking a renovation project. From there, we develop and agree on the project objective and vision. If you don't invest the effort to clarify and agree on an objective and vision, you may well find yourself off on tangents that consume valuable resources of time and money.
#3 - Performance Standards