20th Oct 2014

In today’s world, almost every potential hotel development project—particularly full-service hotels–can benefit from the advice and guidance of a hotel development consultant, because these projects combine the already-significant complexity of commercial real estate deals with the challenges of operating a 24/7, multiple-unit service operation.

Parsing the Basics

A hotel development consultant can assist from the very beginnings of a project in the hotel milieu, beginning with the choice between a “ground-up” hotel development project or an acquisition of an existing hotel:

  • An acquisition in the hotel field can provide immediate income and return on investment to the investor; whereas
  • A ground-up project can afford the opportunity for a unique design and presentation that can maximize the new hotel’s position in the market.

Problems a Hotel Development Consultant can Help Avoid

There are many ways that a hotel development project can go wrong – and thus, many ways a hotel development consultant can help keep things on track:

  • Poor site selection: Consultants can help developers and investors choose appropriate sites for new hotels.
  • Under-capitalization: Consultants can help determine if the project has enough resources to be completed and to succeed.
  • Mismanagement: Consultants can help analyze under-performing sites to determine if the root cause is mismanagement on the part of the owner or their staff.
  • Construction management: Many problems in hotels stem from the construction quality and materials, and a consultant can help supervise both of these aspects to keep standards high.
  • Branding: Often developers are focused on generic amenities and not on the specific branding that makes a hotel stand out from the crowd. Selection of the proper brand and operator can be the difference between a struggling hotel and a successful one.

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