A successful hotel renovation or new hotel construction project requires careful planning and execution in order to stay on time and on budget. In this blog post, we’ll reveal some of the top secrets for achieving success with your hotel renovation or new construction project, including how to manage supply chain costs and procurement. By following these tips, you can be sure that your project will run smoothly and be completed on schedule.
Manage Your Supply Chain Costs Carefully
One of the most important aspects of any hotel renovation or new construction project is managing the costs of your supply chain carefully. Hotel procurement firms should stay up to date on pricing and maintains excellent vendor relationships to get the FF&E and OS&E products every hotel needs. By carefully monitoring your costs and working with reputable vendors, you can be sure that your project stays within budget.
Plan the Timing of Your Orders Accurately
Another important tip for success is to plan the timing of your orders accurately. This includes both ordering materials in a timely manner and avoiding Rush Charges whenever possible. Stroud Group has longstanding relationships with vendors that enable us to get the materials you need without incurring last-minute Rush Charges. We also carefully track the progress of your project so that we can place orders for materials well in advance, ensuring that everything arrives on time. This not only ensures a successful project but also means your budget stays on budget.
Maintain a Detailed Project Schedule
Ordering products and keeping a tight schedule doesn’t just magically happen. One of the keys to success for any hotel renovation or new construction project is maintaining a detailed project schedule. This schedule should include not only when different tasks need to be completed but also who is responsible for each task. The best hotel procurement teams will have detailed specialists that are aligned to take care of every detail, no matter how small, to keep every project moving forward.
Communicate Regularly With All Stakeholders
Another important tip for success is to communicate regularly with all stakeholders throughout the duration of your project. This includes not only keeping hotel owners and hotel owner groups updated on the status of their project, but also communicating with contractors, architects, engineers, and other members of the hotel project.
At Stroud Group, we believe that effective communication is essential for any successful construction project. We use a variety of methods to keep our clients informed about their projects, including weekly conference calls, progress reports, and video updates when needed.
When it comes time to choose a hotel procurement company for your next project, keep these four things in mind. And if you’re still not sure where to start, we recommend checking out Stroud Group. With more than 50+ years of experience in the hospitality industry, our team is well-equipped to handle even the most complex renovation or construction projects. Plus, we’re always transparent and communicative with our clients, so you’ll always know what’s going on with your project—and we’re not afraid to offer creative solutions when needed! Contact us today for a free consultation at stroudgroup.com