Renovating hotels gives you more equity in your investment. Although a great way to increase the property’s value and keep your customers interested, you will find the challenges surrounding renovating a hotel vast and varied. Give particular thought to how you want potential guests to perceive your property and start increasing potential cash flow to attract more customers.
- Determine your budget. Decide how much you want to spend on renovating the hotel and stick with it. Having a budget will influence the financial decisions and business plan in order for you to make a profit after the renovation. Overspending proves a thorn in the side during many renovations. Consider also buying from the skirting boards suppliers perth to get the best prices.
- Get costumer feedback. Whether they are regular guests or one-time visitors, provide a suggestion box and ask what overnighters liked most about the hotel and what they would like to see improved. Their feedback can influence your decision regarding what area(s) of the hotel you should focus on renovating and maintaining first. This can also save you time and money, as sometimes regular clients don’t well receive new renovations.
- Plan out your renovations. Remember that all renovation will have to be current and in compliance with all city codes applying to hotels. Consider renovating in stages, placing importance first on the most frequently used areas or those most in need of renovation. If you plan to add new activities or areas to the hotel, always have the required additional permits. For instance, if you plan to add a nightclub or a bar you will need additional licenses and permits.
- Survey the damage. Evaluate what parts of the hotel need immediate renovation. Start with the portion of your hotel in dire need of improvement. Most major renovations involve the basic structural integrity of the hotel and you will need to look for metal buildings for sale. Major systems such as the roof, pipes, water heaters and electrical systems may need immediate repairs or replacement. Hire an inspector to provide you with objective information about how much it will cost to renovate these areas. When hiring an electrical company, make sure you research the best and view website. You can check out this resource from big family to find more options.
- Contract capable and reliable help. Have multiple general contractors bid for the work. Choose the one with good references who proves capable of handling all renovations. Be sure that the company has invested in safety products while working on the project. Be smart when making decisions. Remember that the cheapest offer may not always prove the best option. When your plant & machinery is down, contact this hydraulic cylinder repair service.
- Minimize guest inconvenience. Tell your guests in advance about any renovations in the hotel. Schedule the actual construction during down/slower times of the year. Meet with your contractor and discuss where noise and potential disruptions will occur during the coming days. If renovations impact customers’ stays, provide something special for them such as free drinks or discount price. You will mostly lose profit during renovation, but the return on investment makes it worth it in the long run.
- Promote the new look. The investment for renovation will prove worthless if you don’t take the time to publicize it and generate additional traffic to the hotel. Run ads in local newspapers and TV. Provide food and drink promotions if you have a new restaurant in the hotel. Do the same with other new amenities the hotel provides. If you’re looking for a nice place to stay, click this link now and explore some fantastic options.
