February 2010 Developments - 32

Resort Management Making Your Renovation Strategy Workor dealing with today’s shifting economic and demographic winds, renovation can be a sound strategy for success. Both cost and time effective, renovation is an excellent way for owners, operators, and developers to update, upgrade, or repurpose solid existing assets. Renovation is especially important to the hospitality industry, where most timeshare developments, resorts, hotels, and motels work on a pre-arranged cycle for remodels and updates. Soft goods, such carpets, upholstery, curtains, etc., are replaced or upgraded more frequently than hard goods like furnishing, countertops, and trim. Finally, at the longest end of the cycle, doors, cabinets, fittings, hardware, and fixtures are refurbished or replaced. Any renovation, especially on older structures, offers a taste of the unique and unexpected. This is why experience is so important. It is vital that owners select a renovation contractor who has been there before and understands the special needs of the industry. Your renovation team must be ready and willing to meet unusual challenges and develop innovative solutions. They must also handle the everyday aspects of the job well by working with owners, property managers, subcontractors, and suppliers to deliver a superior quality job with genuine value. equipment, and crew to do the job and do it right. With your goals and criteria clearly defined, you can begin the contractor selection process. What are the critical elements of that initial interview? A reputable, well-seasoned contractor will welcome specific and challenging questions that allow them a chance to show the value they provide over competitors. Never hesitate to ask anything that you may feel is important. Here’s a basic outline to get you started. Jeff Forrest • Do you provide any services we haven’t discussed? • Is there an extra charge for these services? If so, how much? • Do you own your own building or other assets? • When can you begin work on this project? Renovation for Sustainability Your renovation strategy can also be very successful in terms of sustainability. Not only are you “recycling” an existing asset, you are also reducing the impact of the transport and consumption of materials and fuel required for new construction. That is why it is important to include sustainability issues in your contractor selection process. Here are some questions to help you evaluate just how “green” a contractor candidate really is: • • • • What are their company’s views toward sustainable building practices? How can they help design/build for maximum sustainability? How do they educate their employees relating to “green” building methods and procedures? How “green” is the company itself in terms of vehicle selection, materials purchasing, office practices, site maintenance, etc.? How many employees have had LEED training and certification? What is the company’s overall experience with sustainable projects? Fundamental Interview Questions • Who are some of your past customers? • What kind of projects have you handled that are comparable to mine? • Do you specialize in similar projects? • How do you manage and staff a project? • Who in your company will work on this project? • How do you evaluate your ability to meet my needs? • How can you help get the best value for my investment? • What and how do you charge for your services? • Do you guarantee a cost ceiling? • How well do you control scheduling? • Can you give a reasonable assurance of start and completion dates? • Are you well-experienced with local codes, standards, and requirements? • How do you handle quality control? • How do you control construction process scheduling, flow, and paperwork? • What are your safety and security procedures? • How do you handle design changes during construction? • What about bonding and insurance? (NOTE: You should have your own insurer or risk manager outline and review recommendations, contracts, and preliminary design ideas from the outset of the project.) • How do you handle warranty service? Identify Your Needs Before selecting the best contractor and the rest of the team that will work on all the different components of the property, however, understand your own project needs first. What are your priorities, goals, and objectives? What aspects of the project are most critical to you–start date, completion date, cost, aesthetics, design flexibility, or other concerns? Only by establishing the criteria and goals by which you measure success can a contractor deliver the plan, schedule, materials, 32 • • Understanding the Bid Process As the picture of your contractor candidates becomes clearer, it is time to think about how you will actually contract the job. There are several basic approaches to consider when deciding what type of contractual relationship is best to meet the specific needs and requirements of your particular project. Developments • February 2010

February 2010 Developments

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