Lecture_3_and_4___Development_Process

Lecture_3_and_4___Development_Process - Lectures 3 & 4:...

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Lectures 3 & 4: Hotel Development Process & Players
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Development is. .. interdisciplinary entrepreneurial dynamic cyclical a blend of art and science Plan Design Build Open Operate Sell Cash Idea
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Goals of Development “To meet owners’ present and future needs, on schedule and on budget.” Private minimize risk maximize return and…? Public a safe, attractive, well- located project that enhances the community and the tax base and…?
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Stage 1: Development Planning Establish objectives Identify issues Assemble project team Determine the concept
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Stage 2: Feasibility Demand for rooms and function space Supply of competitive properties Market outlook Financial outlook Site and facility considerations
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Stage 3: Programming How much? How many? Functional issues necessary for design Instructions to designers
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Stage 4: Design Determining the look and feel Arranging spaces for maximum effectiveness Documenting these decisions over three stages: SD, DD, CD
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Stage 5: Contracting Identifying potential bidders Soliciting competitive bids Selecting those who will actually construct the project
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Stage 6: Construction Site Work Foundations Structure Systems Interior work Landscaping
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DEVELOPMENT PLANNING FEASIBILITY PROGRAMMING DESIGN CONTRACTING CONSTRUCTION TYPICAL DEVELOPMENT PROCESS PHASES SITE WORK
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Development Process May not be linear due to: Change in market Change in costs Change in financing Change in management
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Establish objectives Why is this project being developed? What are the strategic goals?
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This note was uploaded on 04/23/2009 for the course HADM 2255 taught by Professor Robson during the Spring '08 term at Cornell University (Engineering School).

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Lecture_3_and_4___Development_Process - Lectures 3 & 4:...

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