Are you interested in entering the hotel industry to serve travelers? You should first develop a business plan with a target market. Once you’ve established a budget for hotel construction and future hotel renovations, you can then approach a contractor that suits your needs. Let’s see the steps that can help simplify your hotel construction process.
5 Important Steps to Follow for Planning Hotel Construction
Here are important steps to know about planning for the hotel construction process.
Start with Financial Planning
Before you can begin hotel construction, you need a sound financial plan that identifies funding for the project. Hotel projects are typically funded by investors or loans. It’s important to map out a plan that takes the different stages of construction into consideration. A project can evolve through its different stages, which can impact costs.
Part of financial risk management planning involves securing appropriate insurance that pays for mishaps that might occur during construction. It makes sense to protect building expensive materials prior to construction with the right coverage.
Choose a Qualified Construction Team
When it comes to hotel construction or hotel renovations, it’s best to work with a contractor that has experience building hotels. Your development team will consist of a general contractor, an architect, and lawyers. Make sure each party has an impressive track record and a reputation for quality hotel development. Remember that in the construction world, inexperience can lead to costly errors.
Use Modern Construction Equipment
Today’s new hotels designed to attract fans of contemporary aesthetics require modern construction machinery. A concrete laser screen, for example, is a machine that levels a surface in a timely manner. One of the more crucial steps in a construction project is laying a level surface. Starting with a level foundation makes it easier to avoid common problems that slow down projects.
Stay Close to the Project Schedule
The easiest way to run up a hotel construction project bill is to fall behind the production schedule. Be aware that construction delays are normal for several reasons, such as weather conditions and funding, supply, or labor shortages. Delays may also arise from contract disputes or modifications. In worst-case scenarios, project flaws can be discovered that force the team to start all over from scratch. The more you can keep the project moving along on schedule, the less chance of surprises that drain the budget.
Monitor the Construction Process
Keeping your hotel construction process on schedule requires monitoring the process and staying in close communication with the project manager. As soon as the project begins to slip behind schedule, address the issue. Find out what’s causing the project to slow down. Pay attention to how well crew members are following directions and being productive. If you cannot check up on the crew yourself, hire on-site surveyors to monitor productivity.
Learn More About Hotel Construction and Renovation at CLIC
Building a hotel is a colossal challenge, but choosing the right contractor can make a big difference in the quality and agility of the work. If you want to learn more about hotel construction and hotel renovations, contact us today. Our team at California Lodging Investment Conference will help you in your journey to connect with established hotel industry experts.