Hyatt Regency Tampa
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.