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In addition to our work with HUD and Low Income Housing Tax Credit projects throughout the country, we have also performed Needs Assessments and Reserve Studies on Hotels.
For Owners/ Managers/ Investors in Hotels, a Capital Needs Assessment with Reserve Study will examine your property's current assets, determining the estimated remaining life of every component in your property, the cost for replacement over a 20 year period, and a study of your reserve account will show you how you can possibly improve the management of your property's funds. A reserve study at a hotel is a logical step for any hotel management team, as it allows you to set aside a portion of funds each month to allow for upgrades and replacement. We can also provide you with a plan for replacement that minimizes down-time for repairs. Too many hotels delay repairs due to a lack of funding and end up having to reduce the hotel's profitability in order to complete repairs.
1. Our Needs Assessments for Hotels can include as much or as little as you would like to see captured in your reserve study - we have included items such as window treatments, televisions, and other regular components in guest rooms. We work with you to determine what needs to be captured based upon what you hope to see out of your reserve account.
2. Our Needs Assessment for Hotels are performed by inspectors who have inspected every sort of structure in the country, from high rises in New York and Los Angeles, to beach front bungalows in Maui and townhouses in Maine. We can share our experience and diverse background with you and show you ways to improve your operations through better capital planning.
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