There are many reasons to renovate a hotel, but the ultimate outcomes are to boost hotel revenues and to attract guests. Hotel guests are looking to find and to return to hotels that cater to the comfort of their stay. By keeping it fresh, up to standard and technologically aligned, guests will be more inclined to return. Hotel managers may also want to renovate as a marketing tactic. By either brand enforcing or a complete rebranding, hotels can put on a fresh face to attract new clientele.
The scope of the renovation is highly dependent on the current conditions of the building. About every 3 years, minor repairs and replacement of furniture, fixtures and equipment will do the job. But anytime after that, hotel managers may seek to professionals to inspect the mechanical and electrical conditions. Poor performance of heating and plumbing is only asking for guests not to return and inform their friends and family of their negative experience.
So when is it the best time to do renovations? The best time to take on any hotel renovations is during hotel downtime. This reduces guest displacement during low occupancy but when there is demand, you’ll beat the market and come out with a refreshed property. If cost is an issue, another great time to do renovations is actually during economic downtime. Savings will be made on renovation costs due to labour and construction supply dominating over demand. It is also much more efficient to do renovations during this period because there is less guest displacement, allowing a larger scope of work to be done all at once. You’ll also be able find the best consultants such as Interior Designers, Engineers, Architects and others to work on the project who can provide high quality service and products that result to more revenue.
The bottom line is, renovate it well and do it at the right time. It’s important to keep things fresh for your guests, but also keep in mind to not disrupt them. You will find that renovating during the hotel’s lowest occupancy, even if it may not seem fitting to investors, will help save a lot of money in the long run.