Hoteliers who take on their property’s updates or new construction on their own in the interest of saving money often wind up hurting their bottom line. With procurement, vendor communications, and keeping track of shipments, constructing or renovating a quality property on time and within budget is no easy feat.
Use this infographic to help you decide whether your new build or renovation would benefit from professional procurement services.
So, is it Time to Hire a Procurement Consultant?
Working with a procurement provider undoubtedly has many benefits, but how do you know it’s time to bring one on? Ask yourself the following questions:
How much FF&E experience do I really have?With all the various aspects that go into completing a project’s updates, it is easy to get in over your head. Hoteliers who lack experience in the procurement process won’t want to risk taking it all on alone. By hiring a procurement consultant you’ll receive guidance every step of the way to ensure your property turns out exactly how you want it to while minimizing complications.
Will I be able to dedicate the time this project needs?Most hotel owners don’t have the time to oversee a whole project to completion. What may seem straightforward often is not. If you don’t have someone on staff whose sole job is to take care of everything that goes into procurement and installation, you’ll need to hire a professional.
How many rooms are involved?Consider the scope of your project when deciding whether to outsource your procurement needs. If your update only requires a single order, you’ll probably be fine buying direct. However, projects that involve various FF&E shipments can quickly get out of hand. The more elaborate your renovation, the higher the value for hiring a professional procurement provider.
Am I prepared to meet all brand requirements?Meeting brand requirements is an important part of any new build or renovation. Having a reliable partner who can simplify this task can make a big difference. Your procurement consultant will not only have brand knowledge going into your project, but will also act as the liaison between you and your brand to help ensure all your FF&E is approved.
Am I staying on budget?If you’re unable to get the prices you want for products or shipping, it’s time to outsource to a procurement provider. Procurement consultants utilize their manufacturer and freight carrier relationships, based on higher purchasing volumes, to secure more competitive pricing.
Do I understand what needs to be purchased?When you’re unsure of which products are best for your property but go ahead and make the purchase, your brand may make you return items. Fixing mistakes is an added cost that can be avoided by using a provider with the know-how to achieve the desired results the first time around.
Depending on your answers to the above questions, you might need to partner with a procurement consultant to complete your project.
If you’re interested in learning more about the benefits of working with an end-to-end FF&E procurement provider, please reach out to us today. We’ll be happy to answer any questions you may have about your new construction or hotel renovation project.