We handle a great number of operational issues, get stuck in the weeds dealing with customers and negotiate (and, often, fight) with our franchise(s), spouses and children on how to get the most dollars out of our properties with the least amount of work. Happy guests, happy franchise, happy checking account.
So we ask ourselves – ‘Fellow hoteliers! Why should construction be any different? We worked our way from the ground up! We scrapped every tooth and nail in this business, we can do this ourselves! My family is no different. We have all the actors in the piece: parents that don’t want to spend money (my father), children that feel that they can manage construction with no previous experience (myself) and a whole host of mistakes made in the construction process (innumerable to count). I like to think of it as an investment in my education in the construction business. My father likes to think of it as revenue that I’d better deliver to make up for it.
With that ‘investment’ we built a construction company. We operate renovation projects throughout Western US and Canada to help others avoid the same mistakes we made. We’ve spent over $20 million renovating hotels – almost all during business operations – and continue to operate five hotels and are in construction of a sixth. Knowing what we know now, we would never take on any construction without a third party responsible for execution and delivery of product.
But I know us. Many of us will still want to do it ourselves. So, at the very least, I want to pass along the advice and learnings that we’ve gained through the hotel business so hopefully we can all succeed.
Time costs money in the construction business (certainly a topic to be discussed), so on we go.