16th Apr 2015
Developing any sort of hotel is a lengthy process that involves a lot of time, expertise, and, of course, money. While the rewards are very attractive, the effort involved in getting there can be substantial. As a result, many hospitality developers eagerly seek out hotels that can be converted into resort properties, as the existing structures and infrastructure can often lead to significant economies when it comes to the overall investment required in terms of time, money, and personnel.
Navigating hotel agreements in the State of California can be incredibly complex, and when the project involves upgrading an existing hotel into a full-service resort property, this can become even more complicated. While the savings in time and investment resources can be significant, the agreements themselves often involve various stakeholders including prior investors, labor unions, and local government.
A consultant with significant experience dealing with each of these issues by themselves, as well as the complicated ways they interact, is critical when a hotel conversion project is contemplated. Hiring a consultant to assist with a resort conversion is a wise investment, as the consultant can assist with various issues, including:
- Dealing with zoning laws that can affect the restructuring of the property
- Dealing with stakeholders in the original hotel property
- Dealing with existing employees of a hotel
- Determining what new facilities, services and amenities need to be offered as a resort
- Assisting with development planning to ensure the property is utilized to its fullest extent and profitability
- Helping to see how the property might need to be renovated or otherwise altered in order to maximize the return on investment
Most importantly, an expert development consultant with experience in hotel conversions can speed up the project’s completion timeline significantly, and price the upgraded facility at the right level to ensure profitability.