A hotel conversion or renovation can take months — sometimes even more than a year. Of course, this can significantly impact revenue, since a new hotel will need a full makeover to be brought up to brand standards and an already operating hotel will have to be partially shut down as work proceeds. For this reason, it’s critical to know what some of the myths are surrounding hotel conversions and renovations so you can make data-driven decisions that will benefit the opening or re-opening of your property.
Myth #1: Simply updating the property will increase revenue.
Increasing revenue depends on a range of factors, including how successful marketing, pre-selling and on-the-ground sales efforts are. In addition, Hotel News Now advises that a renovation is a good opportunity to create new revenue-generating centers in previously underused or unused parts of your hotel, for example by adding a rooftop bar.
Myth #2: It’s not necessary to hire a project manager.
Having a good project manager is critical to the successful completion of your project. As Building Design + Construction advises, your project manager will anticipate any issues before work begins so they can be addressed in a timely manner. In addition, he or she will monitor the project to ensure it remains on track.
Myth #3: A contractor will always be aware of your brand standards.
As Lodging Magazine points out, this isn’t something you can take for granted. You need to make sure that your contractor is completely up to date on your latest brand standards — plus, you need to carry out inspections to ensure the work is up to par.
For more information on hotel construction or renovation, please contact our offices in New York or Los Angeles. InterServ has over 15+ years in the hospitality industry as a leading hotel remodeling company. Check out our featured projects portfolio.