The construction industry is rapidly changing. Now more than ever, challenges can be expected when constructing hotels and other hospitality/leisure assets. Challenges that require solutions. On the other hand, innovations need to be considered as a way to positively distinguish yourself from your competitors, to make asset (re)development a success and to keep up. At the same time, starting a construction project for the first time can be daunting. In the coming editions of Check-In, Construction Columns will touch upon a range of construction-related topics to help improve the success of your construction projects. In this edition we will give a flavour of what you can expect.
When developing or redeveloping hotel and other hospitality/leisure assets, there are several objectives. To be a success, a project must be completed:
These objectives must all be met in order to make such a project a success. The hotel is scheduled to open on a certain date and has already accepted reservations. The purpose of the hotel is to generate a certain revenue and profitability: a budget overrun does not fit well in a sector driven by closely monitored profit margins. Having an asset that does not meet the requirements means that hotel brand requirements are not adhered to which disappoints guests. Disputes are never welcomed, whether it is between the developer and the contractor, between the hotel management and stakeholders, or with tired guests whose stay has been disturbed due to construction works.
In addition, the requirements, expectations and circumstances relevant for successfully building and operating a hotel (as well as other hospitality and leisure assets) are changing. To give five examples:
Such challenges and risks can be addressed by a range of solutions. To give five examples of solutions we will touch upon in future Construction Columns:
We are looking forward to updating you on these exciting developments and solutions. If there are any specific topics you would like to see discussed in this column, do reach out to us.