As the number of major renovations increases, it becomes ever more important to manage and control the process. One reason for the increase is that many hotels built in the 70s and 80s need more that a facelift and con't compete with newer product.
As hotel-motel appraisers and consultants, our fir inspects hundreds of lodging facilities each year. Our experience and imaginations have led us to formulate the following list of amenties that would characterize the perfect luxury hotel room.
Recently. the trade press has been buzzing with articles addressing the topic of hotel feasibility studies and whether they accurately portray the future operating results of a proposed hotel.
Hotel, motel and resort feasibility studies are used for many different purposes. Most studies assist in defining markets and justifying the demand for proposed projects.
Devolping a new hotel or motel typically requires a feasibility study verifying market demand and proving the project is economically viable.
Hotel overbuilding is a subject which has been frequently addressed by hotel and real estate professionals during the last few years.
Developing a new hotel or motel typically requires a feasibility study to verify market demand and to prove the project is economically viable.
Hoteliers may be able to do something about functional obsolescence. But external obsolescence - the social and economic context of a hotel - is beyond a hotelier's control.
Hotel Loan and what they should cost you
Aspects to consider before developing a new hotel.