hotel update
You Received a Hotel Property Improvement Plan. Now What?
Cicero Construction Group | September 6, 2024
In order to keep a hotel aligned with current brand standards, hotel franchisors will periodically issue hotel owners a Property Improvement Plan outlining required renovations and upgrades. PIPs are mandatory. If the hotel owner does not complete the PIP, the franchisor has the right to remove them from the brand entirely. PIPs differ for every brand and hotel. Newer hotels might simply require small cosmetic adjustments, but older ones may need complete overhauls to their mechanical and electrical systems. However, hoteliers should generally anticipate a PIP every seven to twelve years. Design components that are fundame...
Host Hotels & Resorts Provides Update on Maui Wildfires and Other Recent Weather Events
HOST HOTELS & RESORTS | September 7, 2023
BETHESDA, Md., Sept. 07, 2023 — Host Hotels & Resorts, Inc. (NASDAQ: HST) (the “Company”), the nation’s largest lodging real estate investment trust, today provided an update regarding the impact of the Maui wildfires and other recent weather events on its hotels and the communities where they operate. As the largest hotel real estate owner on Maui with a presence for over 20 years, Host Hotels & Resorts shares a deep connection to the island’s people and culture. Lahaina has long been revered as a sacred place and home to some of the island’s most precious historical and cultural assets. The August wildfires touched ev...
