As-builts for Hospitality Refreshes
FOR REPOSITIONING AND RE-LAUNCH:
Some hotel management agreements (HMAs) have comprehensive redevelopment and transformation projects, including guestrooms, public spaces, meeting and event venues. Using asbuilt documentation enables managers to prepare for common project delays prevalent in the market today.
Design teams can leverage existing condition reports and present adaptable 3D models instead of building prototypes.
When supply chain issues necessitate re-engineering specified plans, as-builts deliver real-world details about the building. Purchasers are also buying early to get ahead of long lead times and supply chain issues.
FOR ASSESSMENTS AND RE-EVALUATION:
Team members routinely review the condition of hotels, their market position, and forecasted property improvement plan (PIP) requirements to ensure capital allocation generates the highest returns while meeting hotel brand standards. Hotel managers offer their insight to determine if the hotel has an optimized market position and if capital reinvestment in renovations would further improve asset value.
Coast 2 Coast professionals to conduct a physical inspection of the property, including front and back-of-house.
Having this type of property data on hand ensures capital expenditure strategies balance near-term liquidity needs against long-term asset preservation goals.
FOR ACQUISITION AND CONSULTING:
As the lodging industry’s recovery accelerates in 2022, the pressure to turn a profit has increased. The hospitality industry is likely to see an increase in distressed properties. Owners are looking to their capital managers to develop long-term strategic plans for Capital Market Transactions and Dispositions.
For newly acquired properties, Coast 2 Coast documentation provides a line of sight into the hotel’s current structural state and maintenance level to better inform decisions about which improvements will bring the highest return on investment.
Hotel management companies offer critical insight for capital recycling programs by assessing a property’s condition and leveraging expertise across architecture, interior design, construction development, project management, procurement, and contracting.