Pushed Back at Height of Pandemic, Hotel Renovations Now Face Supply Chain Delays
Owners, Operators Factor in Higher Costs, Longer Waits
An integral part of any hotel’s lifecycle, renovations are ramping up as hoteliers race to head off brand-required property improvement plans and complete updates to meet higher demand from guests.
An integral part of any hotel’s lifecycle, renovations are ramping up as hoteliers race to head off brand-required property improvement plans and complete updates to meet higher demand from guests.
Many hotel owners and operators who put off projects amid a demand crisis at the height of the COVID-19 pandemic are now financially able to renovate their properties, but face the same challenges as developers of new projects: higher prices and less availability of materials and construction labor.
As a result, projects continue to be prolonged or delayed.
Getting the Goods
Hospitality Ventures Management Group has seven properties under renovation, ranging from updates to soft goods to full interior and exterior revamping, Suzanne Saunders, vice president of design and construction, said in an email interview. While acquiring furniture, fixtures and equipment hasn’t been a problem, the issue lies with lead times, she said.