Our Role
Real Projectives evaluated the risks and rewards of investing in the project for a private equity client. The company oversaw the diligence, acquisition, design, and construction processes, to enhance the performance of the project’s partners, consultants, and contractors.
Unique Approach
- Visited the site during the acquisition and Property Improvement Plan (PIP) stage to identify potential capital projects.
- Contributed knowledge of the Hyatt brand and of the hotel industry to inform project design, schedule, and construction sequencing.
- Assisted the operator with the negotiation of major contracts, on behalf of the client.
- Attended monthly OAC meetings to gauge project progress for both design and construction. Approved monthly draws, drafted comprehensive reports, and consulted on project financial progress and open issues.
- Oversaw the development partner and operator to ensure that project risks were mitigated.
Outcomes
- Successfully completed capital projects of over $1.5 million, including upgrades to the chiller, cooling tower, and boilers.
- Coordinated and upgraded guest rooms, corridors, and fitness center to conform to Hyatt brand standards, on time and within budget.