One of Oliver Wild Ltd's specialisms is building hotels for brands such as Travel Lodge, Holiday Inn, Premier Inn and Ibis, often providing a design and construction service to groups of investors.
Successful hotels offer guests an impressive experience, with a real focus on memorable levels of customer service. But many professionals within the hospitality sector appreciate that it's difficult to provide that sort of experience if the building that houses a hotel is simply not fit for purpose. Ensuring that you have a hotel that is constructed to a high standard is likely to be at the heart of your attempts to create an overall experience that will keep guests coming back again and again.
How do you build a great hotel?
We believe that the construction of any hotel should deliver a finished building that is attractive, offers quality finishes throughout and that is completed on time. Importantly, it's vital that a hotel should be fully operational from the moment that the construction phase is completed. There is always a need to start welcoming guests at the earliest possible opportunity, in order to start deriving income from the building. The costs associated with the construction phase are largely driven by the materials that are to be used and the location of the site. The materials that are selected for the building of the hotel will clearly have a significant impact on the final impression that is created. Cutting corners in this area can sometimes lead to a sub-standard finish that reduces the appeal of the building. Construction specialists are able to offer guidance on striking the right balance, taking into account both cost implications and the final appearance of the building.
Converting existing buildings
Hotel construction costs will also vary depending upon whether a building is being constructed from scratch, or whether the hotel operator is seeking to convert an existing building. Many modern city centre hotel developments tend to involve the conversion of existing office blocks, with interior and exterior transformation being necessary in order to create a suitable property for hotel use. The adaptation of such existing buildings can offer tax advantages, together with opening up central locations that might otherwise not be available.
Refurbishing a hotel
Refurbishment of a hotel can often provide a cost-effective alternative to a new build. Operators are increasingly seeking to make the most of existing properties, appreciating that enhancing the appeal of a hotel can help to increase exposure to pent-up demand. By looking to transform an under-performing hotel within the portfolio, it's possible to attract new guests and to produce impressive improvements in occupancy rates. Refurbishment projects also reflect the changing nature of demand. Typically, around 15% of hotels are likely to be undergoing renovation at any point in time, according to research conducted at New York University.
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