Renovations
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Renovations and new ideas
If you want to renovate parts of your hotel it is of importance to get grip on the costs. The costs are related to the
investments made (the costs will be the depreciation and -sometimes the interest) and to the operational costs (staff etc.) per year.
Check the page Investments and the very handy pdf which give detailed overviews of most logical costs to be made: estimating hotel costs.
If things are not to be found here, go on the internet en search for an indication of costs related to your plans. Give your source and put the link in your explanation form.
The same goes for new ideas and developments: be realistic in estimating the costs and the revenues. Always relate to existing number and known or proven costs.
In your explanations form much of this can be explained at decision nine extra depreciation costs renovation maybe at decision number 11 additional maintenance. Decision number 13, other expenses might be of use and explanation number 14 where you have free space to inform your coach.
Costs of the investments
You have no problems on liquidity, so only bother about the costs of the investment, the depreciation! The maximum depreciation per year is set at € 250.000
Delay routine
The focus of your management should, of course, be on the continuing the hotel. So see costs and revenues from new activities always in relation to the height of existing costs and revenues. So it is all about thousands not about hundreds of euro's. So do not specify small expenses and keep the overview. Exactly understanding this shows entrepreneurship. So do not act penny wise and pound foolish.
Please keep everything in perspective: so do NOT go to much into details: so for renovating the bathroom for instance use
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