How Often Should Hotels Renovate?
As a hotel owner or manager, you might dread the idea of going through a renovation. After all, it’s a huge expense — one that often requires you to scale back operations for a period of time. Moreover, unless you know how to plan and manage a renovation properly, all of the work can be an inconvenience to your guests, which in turn can have an impact on future business.
However, simply avoiding renovations isn’t a wise choice, since it can diminish the attraction and value of your property. For this reason, it’s important to understand the renovation cycle and know how to tell when it’s time to renovate.
The Renovation Cycle: When Is It Time to Renovate?
Some experts state that hotels should be renovated every three years. However, Hotel Executive points out that there’s no hard and fast rule. Instead, renovations need to be carried out when a property needs to be upgraded in order to maintain revenues. This is often signaled by a drop in room occupancy, for example when hotel rooms or spaces look outdated because the carpet is worn out or the wallpaper is faded. In general, major room renovations that involve replacing wallpaper and carpeting, as well as adding a fresh coat of paint and replacing the furniture, are usually carried out every six to seven years. When it comes to food and beverage outlets, the renovation cycle is much shorter, as it’s driven by guests’ constantly changing preferences.
With a growing number of guests looking for hotels that provide the same personalization and connectivity as they enjoy at home, many properties are currently considering installing the systems, appliances and devices necessary to become a smart hotel. This isn’t simply a trend; it’s critical to remaining competitive. For some hotels, this may mean undergoing major renovations before the six- to seven-year renovation cycle is up. Moreover, depending on how quickly technology advances and guests’ preferences change, the renovation cycle may become even shorter in the future.
Choose a Trusted General Contracting Firm for Your Hotel Renovation
When it’s time to renovate your hotel, you need a general contracting firm with a proven track record of successful projects. At InterServ, LP, we’ve been serving the hospitality industry for more than 30 years — and you can rely on us to provide the expert knowledge, advice and management your renovation project requires. For more information about our services, please contact our offices in New York or Los Angeles. For more information on hotel construction or renovation, please contact our offices in New York or Los Angeles. InterServ has over 15+ years in the hospitality industry as a leading hotel remodeling company.