Dimond Hotel Consulting Group

Advisory and actionable consulting services to leading hotel companies, independent hotels, lending institutions, trustees, law firms and municipalities.

  • Hotel Consulting
    • Acquisition Due Diligence
    • Hotel Impact and Infringement Analysis
    • Hotel Market and Feasibility Studies
    • Make Your Hotel Better Than Before
  • Litigation Support
  • Two Step Receivership Selection Process
  • Client List
  • About Us
  • On Becoming a Hotel Consultant
  • Contact Us

Capital Improvement Plans and Pips

A Few Thoughts on Capital Improvement Plans and PIP’s

Ideally, capital improvements are part of an annual review along with a hotel’s budget and marketing plans. Here are a few thoughts (in no particular order) regarding prioritizing, budgeting,  and scheduling capital needs – especially during a period of declining revenue?

  • Mechanical and structural needs
  • Replacements that could reduce maintenance and repair costs
  • Maintaining brand standards
  • Codes compliances
  • Life safety issues
  • Price value issues that could result in added revenue

When the industry is doing well “negotiating” a PIP with the franchisor is difficult. What’s the date on your hotel’s written assessment needs that was performed by the executive committee or your hotel’s management company?

Thinking About Becoming a Hotel Consultant ?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Email Us:
drew@dimondhotelconsulting.com
Connect With Us:
    
Call Us:
(615) 974-7349

Copyright © 2021 · Dynamik Website Builder on Genesis Framework · WordPress · Log in