Ravella Lake Las Vegas (formerly Ritz-Carlton)
Las Vegas, NV

Capital Planning and Project Management

hotelAVE's project management group is a group of professionals with over 20 years of hospitality industry experience. Our asset management team:

  • Validates cost and scope and prioritizes capital budgets,
  • Develops and prices 10 year capital plans based on useful life of each item,
  • Acquisition capital planning, and
  • PIP costing and negotiation.

In addition, We execute 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 ROI 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, and 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.