LODGING LEADERS

060 | Deconstructing Hospitality Construction Project Management with Stephen Siegel

LODGING LEADERS

Stephen is President of H-CPM (Hospitality CPM), a construction project management and owner representation firm specializing in managing hotel renovations, conversions, repositioning and new construction projects.

Prior to H-CPM, Stephen served as VP of Construction for Prime Hospitality and was responsible for over $1.0B in new hotel construction and managing capital improvement for a portfolio of over 200 hotels. Stephen holds a Bachelors & Masters Degree in Construction Management from the University of Florida.

In This Episode, Stephen Talks About:

  • How the 2008 recession affected his construction management company when most properties didn’t have the access to capital, and how the pipeline for deferred maintenance and construction projects filled rapidly when money started flowing.
  • What he would do differently for the next economic downturn, and what he recommends hoteliers do now to be proactive.
  • The Due Diligence process for acquisitions, property improvement plans (PIPs), brand standards, and the many ways they assist owners throughout the process.
  • Conversions, new construction projects, and how they make it work despite the rising costs of construction these days.
  • Doing feasibility studies to make sure proposed projects can withstand a significant, prolonged drop in revenue.
  • What happens when things go wrong, whether that be delays, budget overages, product failure, etc.

Resources & Links

Stephen Siegel

  • ssiegel[at]hospitalitycpm.com
  • LinkedIn

H-CPM

H-CPM
710 Route 46 East
Fairfield, NJ 07004
973 227-5200

LODGING LEADERS
Back to Top