Hotels are different from other types of real estate investments primarily due to their daily occupancy and revenue fluctuations, the requirement for specialized management and labor intensity. Understanding the cyclical nature and dynamics of hotel markets are critical to good investment decision-making. An initial analysis of market and financial feasibility is perhaps the most important aspect in hotel investment decision-making. Our experience makes us ideally suited for hotel development projects, from feasibility study to pre-opening and opening.
Feasibility Assistance
Analyze and verify feasibility studies.
Assist in site selection and evaluation.
Prepare financial pro forma.
Prepare preliminary construction and related cost estimate.
Planning/Design
Coordinate hotel room design and food and beverage areas.
Coordinate architect, engineer, land planner, and/or interior designer.
Coordinate layout/procurement of hotel furnishing, kitchen and lounge equipment,
laundry equipment, and
commercial area furnishings.
Coordinate all computerized areas - front desk, energy
management, restaurant, administration.
Coordinate the telephone system, key and lock system, and audio visual system.
Specify/procure ice machines, vacuum cleaners, maid carts, etc.
Interior Design Assistance
Assist the interior design with the furnishing specifications:
lobby, corridors and meeting rooms and lounge.
Construction Project Management
Function as project manager
Act as general contractor
Coordinate input with architect, engineer, etc.
Consult with bids, changes and/or selecting General Contractor
Take bids on project
Perform pre-opening inspections and punch list for hotel
Pre-opening Services
Create and implement the pre-opening marketing plan
Assemble pre-opening budgets (working capital, food, beverage,
linens, china, etc.)
Recruit, interview, and hire all key management personnel
Train all key personnel
Establish definitive objectives and action plans for all departments
Obtain business licenses
Develop pricing for rooms
Develop specifications and bids on building insurance
Coordinate the procurement of guest supplies and employee
uniforms
Interface with potential hotel concessionaires
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