Hotel Ave

On behalf of the Owner, hotelAVE's asset management team was retained to:

• develop a renovation scope based on a study of supply and demand in the market and analysis of lost business. 
• develop a proforma “as renovated” versus “as is” to derive IRR.
• assist in the development of the preliminary renovation costs for IRR purposes.

The project management team then worked to:

• formalize the scope of work.
• prepare a detailed renovation budget and manage against the budget.
• hire designer, purchasing agents, and other consultants.
• create a timeline, then work with the asset manager to determine optimal timing based on business levels and renovation critical path items.
• manage consultants to ensure accountability and deadlines were met.
• manage project accounting and draw invoices.

Learn more about hotelAVE's Capital Planning and Project Management services.