broken image
broken image

WBTreece Alabama

  • Home
  • Services 
    • Construction Development
    • Campus Asset Advisors
    • Building Revenue Assessment
    • Hotel Renovation Consulting
    • Tax Appraisal Appeal
    • Property Condition Assessment
    • Environmental Site Assessment
    • Capital Needs Assessment
    • Capital Reserve Study
    • Cost Segregation Study
    • Triple-Net Lease Inspection
    • Equity PCA
    • Facility Condition Assessment
    • Commercial Building Inspection
    • Construction Loan Monitoring
    • 203k Consultants
    • Grease Trap Inspection
    • Property Portfolio Review
    • Commercial Energy Audit
    • Commercial Inspection Training
  • Projects
  • About
  • Contact Us
  • …  
    • Home
    • Services 
      • Construction Development
      • Campus Asset Advisors
      • Building Revenue Assessment
      • Hotel Renovation Consulting
      • Tax Appraisal Appeal
      • Property Condition Assessment
      • Environmental Site Assessment
      • Capital Needs Assessment
      • Capital Reserve Study
      • Cost Segregation Study
      • Triple-Net Lease Inspection
      • Equity PCA
      • Facility Condition Assessment
      • Commercial Building Inspection
      • Construction Loan Monitoring
      • 203k Consultants
      • Grease Trap Inspection
      • Property Portfolio Review
      • Commercial Energy Audit
      • Commercial Inspection Training
    • Projects
    • About
    • Contact Us
Call Now
broken image
broken image

WBTreece Alabama

  • Home
  • Services 
    • Construction Development
    • Campus Asset Advisors
    • Building Revenue Assessment
    • Hotel Renovation Consulting
    • Tax Appraisal Appeal
    • Property Condition Assessment
    • Environmental Site Assessment
    • Capital Needs Assessment
    • Capital Reserve Study
    • Cost Segregation Study
    • Triple-Net Lease Inspection
    • Equity PCA
    • Facility Condition Assessment
    • Commercial Building Inspection
    • Construction Loan Monitoring
    • 203k Consultants
    • Grease Trap Inspection
    • Property Portfolio Review
    • Commercial Energy Audit
    • Commercial Inspection Training
  • Projects
  • About
  • Contact Us
  • …  
    • Home
    • Services 
      • Construction Development
      • Campus Asset Advisors
      • Building Revenue Assessment
      • Hotel Renovation Consulting
      • Tax Appraisal Appeal
      • Property Condition Assessment
      • Environmental Site Assessment
      • Capital Needs Assessment
      • Capital Reserve Study
      • Cost Segregation Study
      • Triple-Net Lease Inspection
      • Equity PCA
      • Facility Condition Assessment
      • Commercial Building Inspection
      • Construction Loan Monitoring
      • 203k Consultants
      • Grease Trap Inspection
      • Property Portfolio Review
      • Commercial Energy Audit
      • Commercial Inspection Training
    • Projects
    • About
    • Contact Us
Call Now
broken image

5 Main Components of a Property Improvement Plan (PIP) for Hotel Investors, Owners, and Manager

Property Improvement Plan (PIP) for Hotel Investors and Owners

broken image

Photo By: W.Britt Treece

If you're a hotel investor, owner, or manager, you're likely familiar with the concept of a Property Improvement Plan, or PIP. A PIP is a comprehensive plan that outlines the renovations and improvements that a hotel property must undergo to meet the brand standards set forth by a hotel brand like Hilton, Marriott, Wyndham, and others. In this blog post, we'll discuss the 5 main components of a PIP.

Guest Rooms

The guest rooms are the heart of any hotel, and they are often the focus of a PIP. The main goal of the guest room component of a PIP is to ensure that the rooms are up to the brand's standards in terms of design, amenities, and functionality. This may include upgrading the bedding, replacing furniture, and installing new technology like smart TVs or Wi-Fi.

Public Spaces

The public spaces of a hotel, such as the lobby, restaurant, and bar, are also important components of a PIP. These areas must be designed to provide a welcoming and comfortable experience for guests. Upgrades may include new furniture, lighting, and decor.

Building Systems

Building systems are the behind-the-scenes components of a hotel that keep everything running smoothly. This includes the HVAC system, plumbing, electrical system, and other mechanical components. Upgrades to building systems may involve replacing outdated equipment with new, more energy-efficient models.

Exterior

The exterior of a hotel is the first thing guests see when they arrive, so it's important that it makes a good first impression. Upgrades may include new signage, landscaping, and exterior lighting.

Brand Standards

The final component of a PIP is ensuring that the property meets the brand standards set forth by the hotel brand. This may involve upgrading or replacing any areas of the hotel that do not meet the brand's standards.

A PIP is a comprehensive plan that outlines the renovations and improvements that a hotel property must undergo to meet the brand standards set forth by a hotel brand. The 5 main components of a PIP are guest rooms, public spaces, building systems, exterior, and brand standards. By understanding these components, hotel investors, owners, and managers can ensure that their property meets the high standards expected by today's travelers.

Related blog post about Property Improvement Plan:

Property Improvement Plan

 

Previous
Value of Hotel PIPs
Next
What is a Property Improvement Plan?
 Return to site
Cookie Use
We use cookies to improve browsing experience, security, and data collection. By accepting, you agree to the use of cookies for advertising and analytics. You can change your cookie settings at any time. Learn More
Accept all
Settings
Decline All
Cookie Settings
Necessary Cookies
These cookies enable core functionality such as security, network management, and accessibility. These cookies can’t be switched off.
Analytics Cookies
These cookies help us better understand how visitors interact with our website and help us discover errors.
Preferences Cookies
These cookies allow the website to remember choices you've made to provide enhanced functionality and personalization.
Save