We would like to talk about the exciting renovations that we are making at our hotel. With the recent loan from the bank, we have the opportunity to invest in upgrading our hotel and providing better amenities and experiences to our guests.
We have decided to add spas and dormitory-style rooms to our hotel, as the ROI of these investments can be substantial. A room with a spa can generate higher revenue and dormitory-style rooms can provide a higher revenue per bed as they can be rented individually. This is a smart investment decision that can bring significant returns for our hotel.
In addition to the renovation of our hotel rooms, we have also decided to transform our garage view into a multi-functional room. This project involves several steps, such as pouring a layer of concrete on top of a heated material for insulation and isolation of the slab with styrofoam. Creating walls to hide the electricity, and adding fixtures and amenities such as a bathroom are also necessary steps. It is important to carefully consider the costs and benefits before starting this renovation project. The end result will be a beautiful and functional space that we can enjoy for years to come.
In conclusion, investing in the hospitality industry and renovating our garage view into a multi-functional room are both smart decisions that can bring substantial returns. It is crucial to weigh the costs and benefits and make informed decisions to ensure that our investments are profitable and successful. Thank you for joining us and stay tuned for more updates on our renovations!
00:01:00 We got the loan
00:02:00 Our expectations to do with the loan
00:04:00 Making an analysis of our existing rooms types
00:07:50 What are people booking the most ?
00:11:35 Upgrading guest in CloudBeds
00:14:20 Feedback from the last 2 years upgrading clients
00:16:50 Dorm analysis
00:17:40 Low and high season differences
00:20:35 Popular rooms during high season
00:21:40 Popular rooms in winter
00:23:45 Comparing popular room types according seasons 00:25:40 Talking about possible ways of profit
00:29:10 Shall we create another dorm ?
00:34:25 Analyzing revenues
00:43:00 Our possible final decision
00:49:50 Renovation, improvements, changes, possible problems and solutions
01:00:27 Concluding our analysis
01:01:10 Break moment
01:03:50 New things came up !
01:05:20 We will test and analyze the results
01:07:50 What we will do with those results