Hotel Developers
Developers – are the spine of hotel business. It is developers, who design the projects of hotels, look for a site for construction and act as prime contractors. Global hotel chains like Hilton, Starwood and others rarely perform a complete cycle of building hotels. In most of the cases they hire developers who know the local market and are able to anticipate risks. At the same time, almost every major hotel chain has its own development unit, which is often responsible for creating the architectural design and overseeing of the construction.
Hotel development today - is a part of the huge commercial real estate market. Hotel development involves search of the investor, creation of architectural projects, negotiating them with the authorities, and construction of real estate itself. The average cost of a project in the field of hotel development: from 30-40 million dollars for a 3 * hotel and up to 100 million for a hotel complex or a 5* hotel.
Typically, there is a contract between a developer and a hotel operator, which is signed during one of the first stages of project implementation, i.e. already after the site for the future hotel has been chosen, but before the first engineering works has been started.
A classic hotel developer - it is not so much a private person, as a team. However, the number of employees is not always an indicator of success for the hotel developer. It happens that a staff of five people manages to quickly find a place for construction of a hotel, negotiate and sign a contract with a construction company, issue permits in municipalities and hire a design bureau. The main thing that such company should posses - a reputation. If a developer company with a small number of employees over the years formed a pool of customers and a portfolio of major projects - such a company can be considered reliable.
On the other end of the scale - a major developer, which includes dozens of units, engineering and architectural bureaus, construction organizations. When choosing such a developer the risk of unreliability is much lower, but most possibly you will get overstated prices. Either way, the choice of hotel developer - it is always a careful evaluation of existing proposals.
There is a number of peculiarities in hotel development that distinguish this sector from the rest of the commercial real estate construction industry. The main nuances lie in the fact that there is a close joint working between the future operator of the hotel and the developer. In the course of joint working they define the portrait of the main clientele, which allows to subsequently select the class and the format of the future hotel: business hotel, apartment hotel, luxury hotel, etc.
In this category city-of-hotels.com will present the largest hotel developers of the world, as well as companies working as developers in Russia, Ukraine and other Eastern European countries.
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