PMC Services for Hotel development

Tourism and hospitality, a key sector of the Indian economy, plays a key role in the growth of Brand India.It is important to realize up front that there is much more to the process than only construction and operation of the Hotel.

Traditionally, hotel opening efforts have been driven by corporate operations, invariably supported by task force teams drawn from existing hotels. This specific approach only works on a small scale and has several limitations.

The traditional approach alone cannot meet the challenges and dynamics of new hotel development on a large scale and will contribute to causing delays in the technical, operational and commercial readiness of hotel projects.

Development of Hospitality industry on a larger scale generates specific dynamics and challenges. It requires proven project management expertise to meet these challenges head on and improve the efficiency and effectiveness of opening new hotels, right from pre-construction to construction to substantial completion and then final operational stages of a hotel. 

In our view, 
“A project is a temporary endeavor undertaken to create a unique product, service, or result. The temporary nature of projects indicates a project has a definite beginning and end.” (PMI, 2013).

It is important to understand that by definitions new hotel openings are essentially projects and not part of on-going hotel operations. The approach to manage them should fundamentally not be different from projects conducted in information technology, consulting, banking, telecommunications, aerospace, and other industries.

 Project management process for Hotel development includes the following:

• Due Diligence
• Site Assessment & Building Studies
• Design Review & Conceptual Pricing
• Design Team Selection, Negotiation, Contracting & Management
• General Contractor Selection, Negotiation, Contracting & Management
• Consultant Selection, Negotiation, Contracting & Management
• Constructability Planning
• Cost Analysis & Value Management
• Budget Development & Analysis
• Schedule Development & Analysis
• Project Management Controls
• Change Management
• Quality Control and Compliance with Design Standards and Brand Standards
• MEP System Commissioning Support
• FF&E Procurement and Management
• Operations and Pre-Opening Planning
• Project Close-Out and Punch List Management

Role of PMC in Hotel Development

A  PMC should have the ability to oversee and manage an entire project (from design through completion of the punch list) in the most cost effective way for an owner.  It must have the expertise, the systems and right quality people which can enable the PMC to readily identify potential cost savings in design, purchasing, and construction that the operator or the developer may not know. The PMC should have in-house skill set for the identification of value-added opportunities and the detailed management of costs while maximizing the return on invested capital.

About Masters

Masters with experience of working on various Hotel developments can provide you an experienced project and construction management team whether you are building an entirely new hotel or renovating an existing one. We also offer a full breadth of consulting services to advise you about your hotel construction or renovation project.

Some of the Hospitality projects under our umbrella are:

JW Marriott, Kolkata

Ginger Hotel, Goa

Vivanta by Taj, Dwarka

Radisson Hotel, Kolkata

Novotel, Mumbai

Fairmont, Jaipur

Talk to us today!

Contact
connect[at]masterspmc[dot]com

Phone Number
+91 22 64567600

 

Key Success Factors for a Turnkey Construction Project

Key Success Factors for a Turnkey Construction Project

A turnkey contract is a business arrangement in which a project is delivered in a completed state. Rather than contracting with an owner to develop a project in stages, the development manager or the turnkey solution provider is hired to finish the entire project including design, construction, PMC.

The development manager or the turnkey solution provider is separate from the final owner or operator, and the project is turned over only once it is fully operational. In effect, the development manager or the turnkey solution provider undertakes the project from start to end and “turns the key” over to the owner.

This type of arrangement is commonly used for construction projects ranging from single buildings to large-scale developments. Under a traditional lump-sum contract, the owner agrees to pay the development manager or the turnkey solution provider to complete a project that is built to the owner's requirements and specifications. While the owner is, at all times, given several opportunities to make decisions throughout the project, as well as to make changes as needed, however, in such arrangements, the Owner is in much lesser burden of the project as the development manager or the turnkey solution provider handles all problems related to construction of the project. 

Key factors involved:

Project Management

The complexity and magnitude of a turnkey construction requires, even more so than in other construction project types, the effective coordination and management of providers, subcontractors and government agencies. The most important criteria that determine the success of a construction project include budget and schedule compliance and whether it conforms to owner's expectations. Effective project management is required to control the progress and cost of a construction project.

Risk Allocation and Cost Estimation
Turnkey construction projects require the development manager or the turnkey solution provider to assume higher risks than other construction contract methods. A turnkey project may require the development manager or the turnkey solution provider to allow for multiple eventualities that cannot be easily foreseen. For instance, the development manager or the turnkey solution provider may have to, beforehand, take into account the ground conditions of a building site.

Cash Flow

Turnkey projects require the development manager or the turnkey solution provider to take on the operational costs until the project is completed. Successful projects require the development manager or the turnkey solution provider to have the necessary cash flow to meet construction costs until payment is received. At most times, the development manager or the turnkey solution provider and the owner/ clients agree on milestone based payments.

About Masters

Masters Management Consultants India Private Limited provides turnkey solutions for your projects. For Clients with multiple businesses or for Clients who are based at a different location than project’s location or for any other time/ technical constraints, can make use of our Development Solutions.

Turnkey Construction services by Masters are offered to streamline construction processes, making it easy for you to achieve your objectives while benefitting from tremendous savings in both time and cost, and ensuring quality at the same time.

We take pride in developing strong working relationships with developers and architects while delivering top-quality workmanship through every phase of a project.

Get in touch with Masters for more details on connect@masterspmc.com

Head Office:

Masters Management India Private Limited
New Udyog Mandir,
Kamanwala Chambers No.2,
Unit No. 7, Ground Floor,
Mugal Road, Mahim (West),
Mumbai - 400 016
Phone : +91 22 64567600 

Why opt for Pre-Development Services prior Real Estate Investment 

(Feasibility Analysis + Real Estate Advisory + Techno Commercial Due Diligence)

Every real estate investor, client or stakeholder has unique objectives, constraints, operational circumstances and economic realities.

In such situations, Pre-Development Services (or sometimes termed as Pre-Investment Services) including Feasibility Analysis, Real Estate Advisory and Techno Commercial Due Diligence help clients make knowledgeable decisions to achieve a competitive advantage by managing risk, reducing costs and increasing operational efficiencies.

Pre-Development Services advises client organizations in identifying and evaluating real estate opportunities and enhancing the returns from their real estate investments.

A typical Pre-Development advisory team comprises of experienced marketing, financial, forecasting, engineering & architectural professionals working with owners, investors, buyers and sellers of lands, buildings and real estate projects. They advise the clients on a range of options, and assist on developing and implementing real estate strategies for better returns.

The Pre-Development Services provides advice on:

• Best Land Use Strategies
• Land Feasibility
• Identification of potential investors and legal advisors
• Managing a team of Market & Financial Consultants, Master Planners and Architects
• Analysis and valuation of real estate investments and portfolios
• Pre-Investment Advisory
• Technical Due Diligence
• Techno-Commercial Due Diligence
• Pre-Construction Due Diligence
• Project management advise to better manage risk and enhance returns from real estate investments 

About Masters Pre-Development Services:

Masters understand what it takes to build successful projects. Hence, in addition to providing end-to-end Project Management Services, Design Services, Cost Consultancy and other real-estate Allied Services, Masters are also competent in offering complete Development Solutions, including Pre-Development Services like Feasibility Analysis, Real Estate Advisory and Techno Commercial Due Diligence Services.

Masters undertakes assignments of an advisory nature for various banks, real estate funds, individuals and organizations, looking to invest in the real estate market in India. Our team of professionals provides project-specific advice on various aspects which can help the investor take a lucrative decision on investment.

Masters have been advisors to various Investors & banks such as GE Capital (Real Estate), IDFC, Gazit Globe, Birla Global Corporate Ltd, Ascendas Property Fund, Actis Advisors, SITQ, Kotak Investment Advisors and others for Pre-Development Solutions.

Know more about  Masters Pre-Development Solutions, Contact us at :

Masters Management Consultants (India) Private Limited

New Udyog Mandir, 

Kamanwala Chambers No.2,

Unit No. 7, Ground Floor,

Mugal Road, Mahim (West),

Mumbai - 400 016

Email : connect@masterspmc.com