Building Hotels
 
Building Hotels
07 DECEMBER 2018 7:15 AM

The challenges of building hotels are many and varied, but success on any project depends on the decisions made early in the process, from communication with the client to choosing the right staff and partners.

Listen first
“The most important thing as a financial intermediary is to listen to the client first. Every deal and every client objective is different. For example, some clients are long-term holders looking to build generational assets and wealth, while others are short-term holders looking to fix and flip. The type of financing that works best for each is very different, and getting a complete understanding of the asset and client objectives before evaluating any potential financial scenarios is key.”
--Peter Berk
President, PMZ Realty Capital LLC

Planning is key
“A successful new hotel project must have a detailed construction plan. It is important to not only have a high-level construction schedule but to also develop an actual logistic and construction staging plan that includes specifics like traffic control, material deliveries and storage, crane/man hoist and job site trailer locations, just to name a few. This little bit of extra planning ensures an efficient and safe operation.”
--John Wong
VP, Construction & Design, West, OTO Development

Assemble the team
“One of the most important decisions we make as (developers) is to assemble the best team for each project. The right design team is critical to the hotel’s success, and each member should be carefully selected based on their experience, skill and integrity. Every project has its opportunities and challenges, and as our projects get more complicated, we typically use local engineers due to their knowledge of the local codes, ordinances and site conditions. We also look to work with architects who have local hotel experience and understand the nuances and best practices of the specific brand we are developing.”
--Mitch Patel
President & CEO, Vision Hospitality Group

Seek outside knowledge
“Concord Hospitality engages consultants to work on our behalf to ensure the quality of our products. One of the most significant is an envelope consultant. They provide vital feedback and testing information for the exterior skin including products like roofing, EIFS, brick, windows, vapor barriers and doors. … In the end, the partnership formed helps us provide a healthy, dry and comfortable building that will last for years to come.”
--Carl Hren
SVP, Development, Concord Hospitality

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