1. Affordable hotel furnishings better than cheap
When you are going to create a new or upgraded hotel interior, there is a saying that is often heard; Cheap, good and fast, you can just combine two of them. If you choose good and fast, it will not be cheap, if you choose cheap and fast, it will not be good, etc. How should one approach this when it comes to new construction or renovation of hotels and hotel furnishings?
There are some important goals that one must try to meet:
- The investment made should generate income for years to come in order to be feasible and then it is important that neither the interior design, hotel furnishings nor work must be of substandard quality. So you should choose "good".
- When you work with renting out hotel rooms, you want to keep the time for the project down to minimize the loss of income. Therefore, you also want to choose "fast".
How about "cheap" then? Does an interior design project have to be "expensive"? The problem is that the question is posed incorrectly. It is more correct to speak of "affordable" than "cheap". For example, if we buy a "cheap" chair (ie with a low price tag) that has a short lifespan, that investment may be less worthwhile than a more expensive chair with a longer lifespan. It is therefore important to keep a longer perspective than purchase cost when we talk about affordable hotel furnishings.
When you are renovating your project, you should therefore aim for Good, Fast and Affordable.
2. Invest in sustainable and smart hotel furnishings
Cheap in the sense of "low price" is unfortunately often also associated with lower quality. For a hotel that has an extremely high degree of utilization of its furniture, this becomes a problem. In addition to the wear and tear that comes from daily use of furniture, it is also the case that hotel rooms are cleaned every day. Your hotel interior must therefore maintain a high degree of utilization but also the daily management of staff. There is money to be made in easy-to-clean, well-thought-out hotel rooms with good quality furnishings.
If space is tight, there are also solutions to make it easier for the cleaning staff. Something that is financially beneficial but above all saves on the staff's backs.
3. Find the right financing model
How affordable a hotel interior is is affected by the purchase price, lifespan but also the installation cost. In an interior design project, you have to include the cost the project itself entails in the form of lost revenue when hotel rooms are blocked from being rented out. With the right type of arrangement and financing, the interior design project becomes easier to implement.
You can with advantage divide larger interior design projects into stages. Try to find natural zones that are decorated separately. It can be about floors, corridors or other natural boundaries of the building. That way, larger parts of the hotel can still be used for rental. The expenses are also distributed over time, which in combination with a continued rental gives a better economy in the project.
In some cases, leasing may be an option. PMI offers this form of payment both for interior design projects and for the Capacity Bed wardrobe.
PMI has great experience when it comes to designing hotel interiors, carrying out renovations and finding the best financing model.