Hotel Renovations’ Post

How to use #hotel design to drive returns

https://lnkd.in/dd__BsW5 𝐑𝐞𝐯𝐢𝐭𝐚𝐥𝐢𝐳𝐢𝐧𝐠 𝐒𝐩𝐚𝐜𝐞𝐬: 𝐓𝐡𝐞 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐨𝐥𝐞 𝐨𝐟 𝐂𝐨𝐧𝐬𝐮𝐥𝐭𝐚𝐧𝐭𝐬 𝐢𝐧 𝐇𝐨𝐭𝐞𝐥 𝐑𝐞𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧𝐬 This article discusses the role of consultants in hotel renovations, emphasizing their expertise in maximizing returns on investment and transforming properties into modern, captivating spaces. The Strategic Planning Landscape: Comprehensive Property Assessments: Consultants conduct thorough property assessments to identify areas for improvement and enhancement. From guest rooms to common areas, a comprehensive understanding of the current state of the property forms the basis for strategic planning. Market and Competitor Analysis: Understanding the market and benchmarking against competitors is vital. Consultants analyze market trends, guest preferences, and competitor offerings to inform the strategic direction of renovations, ensuring the property remains competitive. Budgeting and Financial Planning: Crafting a realistic budget and financial plan is a cornerstone of strategic planning. Consultants collaborate with hotel owners to allocate resources effectively, balancing the desire for upgrades with the need for a favorable return on investment (ROI). The Role of Consultants in Execution: Project management expertise: Managing the complexities of hotel renovations requires specialized expertise. Consultants offer project management skills to oversee timelines, budgets, and contractor coordination, ensuring seamless execution of the renovation plan. Design Concept Development: Consultants collaborate on developing design concepts aligned with the hotel’s brand and target market. This involves selecting color schemes, furnishings, and layouts that enhance the property’s overall aesthetic appeal and functionality. Sustainable and Innovative Solutions: Emphasizing sustainability and innovation, consultants guide hotels in adopting eco-friendly practices and integrating cutting-edge technologies. This not only aligns with modern trends but also positions the property as a forward-thinking destination. Maximising Returns on Investment: Strategic Room and Amenity Upgrades: Consultants prioritize room upgrades and amenity enhancements strategically. By focusing on areas that directly impact guest satisfaction and experience, hotels can maximize returns on investment and attract a broader range of guests. Brand Reinforcement Through Design: Design choices during renovations play a pivotal role in reinforcing the hotel brand. Consultants ensure the design aligns with the brand identity, creating a cohesive and memorable experience for guests. Operational Efficiency Improvements: Beyond aesthetics, consultants identify opportunities for operational efficiency improvements. This may include reconfiguring spaces for better flow, upgrading technology infrastructure. . . . . . .

Mixed-use developments that incorporate hotels are gaining traction, driven by the "live, work, play" trend and the rise of branded residences. These projects offer significant benefits, including higher average daily rates and enhanced customer experiences, but they require substantial investment and face challenges such as construction costs and financing. #hospitality #branded #luxury #residences #mixeduse #development #lifestyle

The volume of U.S. hotel rooms under construction reached its highest level in 16 months, according to CoStar’s latest June 2024 data. CoStar, a leading provider of real estate information and analytics, reports this surge as a promising sign for the construction and hospitality sectors. #HotelConstruction #Hospitality #Hotels #ConstructionIndustry #MarketGrowth

What type of renovations are hotel owners most thankful for this year. Read more to find out what renovations will maximize your return on investment. #glrinc #generalcontractors #projectmanagers #hotelconstruction #hotelrenovation #hotel #resort #renovation #remodel #roi #investment #thankful https://lnkd.in/gX7ErzG4

Renovating hotel rooms is crucial for maintaining competitiveness and ensuring guest satisfaction. Updated rooms can enhance comfort, aesthetics, and functionality, meeting modern travelers' expectations and needs. Renderings play a vital role in hotel renovation and redesign by offering realistic visualizations of proposed updates, helping stakeholders align on the design vision and detect layout issues early. This ensures smoother project execution and minimizes costly changes. Renderings are also powerful marketing tools, attracting guests and investors by showcasing the new look before construction finishes. Renovations are essential for staying competitive and meeting modern travelers' expectations by enhancing comfort, aesthetics, and functionality. They also address wear and tear, keeping the property appealing and safe, which drives higher occupancy rates and positive reviews. https://lnkd.in/dwb2Bi_2

The evolution of coupling hotels and residences has led to mixed-use properties now being recognized as a distinct asset class. This Hotel Magazine article sheds more light on how multiple components are seamlessly integrating with flagship or experiential retail, apartments or branded residences, an office park or a lifestyle hotel. The hospitality industry needs to enhance its efforts to develop talent that has the knowledge, and skill sets to lead and manage in much more diverse environments. Additionally, traditional hoteliers need to shift their attitudes towards residential ownership and embrace the tremendous value mixed-use creates for ownership and brands https://lnkd.in/gY3BDnEi

Hotel construction momentum continues to build! 📈 The number of U.S. rooms under construction rose 7% compared to 2023, marking seven straight months of growth. Even more exciting - rooms in planning stages surged 38.4%, with the midscale sector seeing an impressive 34.5% increase in rooms under construction since last year. Strong developer confidence signals promising opportunities ahead in the hospitality sector as we head into 2025! 🛎️ #Hospitality #HotelDevelopment #IndustryGrowth

The U.S. hotel construction market saw record highs in the first quarter 2024. According to Lodging Econometrics, more than 6,000 hotel projects are being worked on nationwide, an all-time high. Read on. #constructionmarket #hotelprojects

Soft brands are moving into the midscale market, and that's great news for the construction industry! With more hotels opting for soft brands, there's a growing demand for flexible and efficient construction solutions. #MidscaleHotels #HotelConstruction #SoftBrands #HospitalityTrends