Tag: hotel

Underestimated Investments in Commercial Real Estate

January 4, 2023

Anyone who has spent some time in the commercial real estate sphere will know that the key to sustained longevity comes from one simple word: diversification. While specializing in a niche can help investors and property owners develop unique knowledge, an unfriendly season in their selected industry can prove disastrous. In turbulent economic times, the importance of diversification becomes all the more important. However, overly risky investments and haphazard experimentation might not sound the most enticing at the moment. For some comparatively lower risk investments, consider these underestimated investments to increase your ROI. Use The Space You Already Have If you haven’t invested in ATMs or vending machines already, now might be a good time to look into it. With such a small space demand and the convenience potential for your tenants, these amenities sound like a positive addition to properties before even considering the modest monetary returns. With leasing or purchasing options available, property owners can take the most advantage out of these investments in areas with considerable foot traffic. For vending machines, while cash-only receivers are cheaper, models with card readers are much more accessible today. Again, while the returns are minimal, these additions have the opportunity to

What To Expect During A Hotel Property Inspection

December 7, 2022

As we are heading into a new year, now may be a good time to start looking forward. New investments could be on the horizon, or perhaps new resolutions to improve on past ventures. In the hospitality industry, a commitment to excellence should always come with a property inspection. Whether through an annual property maintenance inspection or through an insurance underwriting experience, hotel property inspections are the best way to demonstrate responsibility and proactively work for your guests’ best interests. Insurance underwriting inspections don’t need to be a nerve-wracking experience. Just as with any home maintenance or property inspection, underwriting inspections are meant to provide a clearer picture on the condition of a property so that realistic expectations can be outlined. For commercial property owners unfamiliar with the process, however, it may be useful to break down some of the items and processes that go into a standard hotel property inspection. When Hotel Property Inspections Are Common In order to operate a successful and safe hotel business with confidence, a good insurance plan is key. Insurance underwriting inspections are an important step to setting up new coverage, so this should be expected after any new property acquisition, after considerable upgrades