Hotel Development: Planning Makes the Difference
Running a successful hotel operation involves seeing to a huge list of details and day-to-day tasks. Sound planning ahead of construction can spell the difference between a thriving hotel property and one that never seems to get off the ground.
New Horizon Construction Services is a premier hotel builder serving the greater Orlando, FL, region. Here are some hotel development planning and construction points that you’ll likely be working with.
The first step toward successful hotel development is becoming clear on what exactly you want to develop. This is a time to be creative and map out your property’s structure, size, amenities, services and other particulars. You’ll also focus on:
- The team or teams of professionals required
- Ensuring all the necessary skill sets are in place
- Initial general survey of the market
- Outlining the capital stack and ownership structure
Hotel Feasibility Study
You’ll want to engage in a thorough feasibility study to make sure your vision is a workable one. Points should include:
- The current and foreseeable economic climate
- Trends in the hotel and tourism industries
- Identifying direct competitors
- Ways to market, promote and sell to potential customers
- Ways to distinguish your property from competitors’ properties
- Risk-management and contingency planning
As a key final stage, the pre-construction process is the time to get all your “ducks in a row.” Depending on your specific operation, this may include:
- Securing and approving financing
- Final review and approval of architectural plans
- Getting the necessary permits in place
- Choosing the best construction team and selecting a project manager or management team
- Finalizing contracts and budget parameters
- Signing off on risk-analysis reports, cash flow analysis, pre-construction deliverables and other items
The hotel construction process
You’re ready to break ground, but there are more critical tasks to manage. Some of these tasks will be unique, based on the size and scope of your property. The hotel construction process can include:
- Site preparation
- A system for keeping up with the construction schedule and various budgets
- Site monitoring for compliance with safety regulations
- Quality control to keep a close eye on how the work is being performed
- Meeting with inspectors as well as state and local regulatory entities
- Making decisions should site modifications become necessary
- Getting occupancy permits in place
Sound hotel planning and your building contractor
Among all the teams and individuals you’ll assemble to go from hotel development planning to a successful operation, none is more important than your building contractor.
New Horizon Construction Services specializes in the development of fine Florida hotel properties. We have the experience you need to ensure that the job is done correctly, according to plan, within budget and in compliance with state and local codes. We’ll help you with many key components, including:
- Financing for your development project
- Day-to-day site management
- Feasibility studies and budget planning
- Permitting on all levels
- Communication with your team through every facet of construction and much more.
If you’re in the beginning stages of planning for a new hotel or resort property, our experienced team would love to meet with you and show you how we can make your project one that is satisfying now and into the future. NHCS is a Florida-based general contractor that works on a wide variety of building projects, including hotels. If you’re interested in learning more about our services, give us a call at 407-574-2164. You can also get in touch through our simple contact form.