Partnerships are not only needed to get your hotel through the development process and constructed. They are essential during its entire life as an income-producing asset. Thus… It is vital to enlist the partnerships with stakeholders that share your goal of realizing success in this breakthrough future world of sustainability.
Effective partnerships are the best way to realize your goal of a premiere hotel project. And rest assured, if your partner is adept in the concept, he partner will pose these three key sustainability questions:
1) What sustainability factors are you considering in your design?
2) Have you considered environmental impact?
3) Are you realizing the needs of the local culture and clientele?
These are real questions that any savvy investor will ask before even considering a partnership with you as you move forward in your hotel venture. Only a few years ago, these questions were never asked. As I said, the development world is changing.
Here’s the secret of what you have to do. Know the answers!!
Prepare for these questions (and more). Have them in your plan, and know the answers before they are even asked. This will allow you to establish effective partnership that will weather the process and prepare your business venture for success.
Establishing effective partnerships will help you ensure that your team has the same goals with an effective and imminent plan for success.
Want to fail? Don’t get to know your investors. Don’t have a plan that meets the expectations of your investors. These are sure-fire ways to keep your hotel from being a long standing, successful hotel. One that is sustainable socially, financially, culturally and environmentally.
Corporate environmental policies are increasing at an amazing pace and must be considered and addressed with prospective partners. Other sustainability criterion should be addressed regularly and up front. These will help ensure effective partnerships. And ensure success.
Even after the initial planning and development, you must have in place policies and procedure to keep sustainability at the forefront and keep your stakeholders informed at all times of your project’s sustainability program and policies that will yield success to all stakeholders and to the market in which it will operate for years to come.
Effective partnerships and frequent communication will keep your stakeholders informed and up to date on how your premiere hotel development is exceeding the mission and vision for long-term sustainability.
Until Next Time,
Robert Colin Bryant - Founder, TBG Innovative Ltd.
TBG Innovative specializes in the planning & development of international 5 star hotels, blending real estate, branding, master planning, and construction to create “great destinations”. To learn more about TBG Innovative visit us at www.tbginnovative.com