property improvement plans
Want More Positive Guest Feedback? Invest in the Right Improvements
Luz Candelas | August 31, 2018
By Luz Candelas Not all resort facilities warrant the same level of investment during a capital expenditure program. The guest impact of any single resort space can often be over or underestimated and the ramifications on future margins can be dire. When traveling to Mexico or the Caribbean, guests expect their chosen resort will have all the attributes of a tropical paradise. Ensuring the design program is in line with these expectations also guarantees some measure of profitability while protecting the capital expenditure investment from the pitfalls of further redesign. In fact, taking guests' preferences into account at the onset of...
Contractor’s Perspective on Renovating Chain Hotels Versus Boutique Hotels
Cicero's Development Corporation | August 9, 2018
PLAINFIELD, IL, AUGUST 9, 2018 -- With a booming economy, Americans are spending increasingly more time traveling. Luckily, when it comes to hotels, they have more options than ever, from the tried-and-true branding of large chains to smaller boutique hotels aiming to provide unique, one-of-a-kind experiences. Both options work, but offer distinctly contrasting atmospheres. These contrasts pose challenges to renovation contractors. Construction procedures and design goals differ greatly between chain and boutique hotels. Boutiques have become synonymous with the idea of quirky cool while major chains rely upon uniform, pre-approved Prop...
Impacts of Major Brand PIPs: Industry Perspectives by HVS / By McKenna Luke, Dinaker P. Mallya
McKenna Luke | February 20, 2017
Limited-service hotel brands have emerged as some of the top choices for consumers and investors alike. With a national reputation for value and quality, brands such as Hampton by Hilton and Holiday Inn Express have created high expectations for guests across the board. For hotel owners, these brands have created a product that produces strong RevPAR index and house-profit levels. These brands have acknowledged the wide array of product offering across their assets, mostly due to the aging physical condition given more relaxed standards during the Great Recession and need for refurbishment across hundreds of hotels nationwide. In this a...
