PIP – Property Improvement Plan
Owners and operators of hotels, motels and other commercial businesses understand the vital nature of executing a Property Improvement Plan.
BuildOne brings extensive experience as the hotel contractor for some of the biggest brands. By applying a proven approach to the renovation and construction process, we help hotel & resort clients to renew, capture market share, increase guest satisfaction and enhance profitability.
WHAT IS A PROPERTY IMPROVEMENT PLAN?
While some hotel owners may not look favorably on the immediate financial cost of a property improvement plan (PIP), each one presents an opportunity to re-evaluate the business and plan for its future profitability.
PIPs—when handled correctly, can create positive income generation for hotel owners, and commercial businesses.
If hotel owners approach PIPs strategically, all parties benefit from the renovations. The property’s asset value increases and operating costs decrease because more efficient systems have been installed. It’s a win-win-win—for guests, visitors, owners, and brands.
Why Implement a PIP?
The goal of a property improvement plan is two-fold. First, a PIP helps global hospitality brands maintain a consistent visitor experience across properties. Second, these improvements help hotel owners increase the profitability of their properties.
By making necessary repairs and modernizing their hotels, owners can better serve guests, gain market share, and generate more revenue.
PIP PROFESSIONALS
PIP projects begin with an assessment of your hotel renovation project and brand requirements. We provide a detailed construction proposal for your property improvement plan (PIP) that reflects how we will successfully complete your job on time and on budget. Often, plans involve schedules and procedures that keep a hotel in operation – remaining sensitive to the expectations of guests and staff.
Building Better Customer Experiences.
Elements of a Hotel PIP
A Hotel PIP varies for each brand and individual hotel property. While older hotels may require upgrades to mechanical and electrical systems, newer hotel properties may only need relatively minor cosmetic changes. In short, there is no one-size-fits-all hotel property improvement plan.
Hotel Owners can expect to update design elements that are essential to brand standards. Light fixtures, faucets, and furniture are staples of hotel brand identity. Guest rooms and amenities matter as well. Hotel PIP contractors can complete improvements to the hotel lobby, business centers, corridors, elevators and stairways, fitness centers, meeting spaces, pools, and any restaurants or dining areas.
Some hotel property improvement plans may also call for updates to the hotel exterior and outdoor spaces. Landscaping, improved exterior lighting, and parking lot updates can be included.
A Hotel PIP may also account for energy efficiency and operating costs. After all, the goal of these plans is to help owners maximize their hotel’s profitability. Updates to hotel mechanical systems, plumbing systems, electrical systems, and HVAC systems may all be covered in the scope of the hotel contractor’s PIP – all these aspects add up to savings for hotel owners in the long run.
Let’s Work Together
We’ve been renovating hotel spaces for decades, and would love to partner with you on your next project.
