Hotel Development & Pre-Opening Services
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 hotel consulting staff has years of experience in hotel development and operations management. The hotel consulting services we provide are unique for each project we undertake, and are therefore tailored to meet each client’s individual needs. Our experience makes us ideally suited to assist you with your hotel develpment project, from feasibility study to pre-opening and opening.
Feasibility Assistance
- Analyze and verify feasibility studies
- Assist in site selection and evaluation
- Coordinate hotel demand studies
- 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
- Interview and recommend a design firm
- Assist the interior design firm with the furnishing specifications:
- lobby, corridors and meeting rooms
- rooms
restaurant and lounge
Construction Project Management
- Function as project manager (fee basis)
- Act as general contractor (fee basis)
- Coordinate input with architect, engineer, etc.
- Consult with owner on 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 and sales personnel
- Train all key personnel
- Recommend advertising agency
- Establish definitive objectives and action plans for all departments
- Obtain business licenses
- Develop pricing for rooms, food and beverage
- Develop specifications and bids on building insurance
- Coordinate the procurement of guest supplies and employee uniforms
- Interface with potential hotel concessionaires
- Develop employee benefit program and policy manual
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