Ravella Lake Las Vegas (formerly Ritz-Carlton)
Las Vegas, NV
Capital Planning and Project Management
hotelAVE's project management group is staffed through a strategic partnership with Baker Project Consulting (BPC), a group of professionals with over 20 years of hospitality industry experience. Our asset management team works with BPC to:
- Validate cost and scope and prioritize capital budgets,
- Develop and price 10 year capital plans based on useful life of each item,
- Acquisition capital planning, and
- PIP costing and negotiation.
In addition, BPC executes renovations and development projects in an oversight capacity, including;
Estimate of Budget - Based on scope determined by owner, asset manager and project management group. The asset management group prepares all of the financial feasibility and ITT analysis to justify the renovation. The project management group also manages the project accounting and draw invoices.
Creation of Timeline - The timeline includes assembling the project (architects, designers, purchasing agents), including negotiation and execution of contracts.
Critical Path - The project and asset managers work together, with hotel manager feedback, to determine the optimal timing relative to hotel business levels, the project deadline, adn the type of work to be completed.
Organization - Depending upon scope, the project management team will provide on-site oversight or oversee a hotel manager's engineering team in executing a specific scope.
Read a case study about our successful project management efforts at the Hyatt Regency Tampa or learn about our strategic partner, Baker Project Consulting.