real estate development key steps hotel projects gesiic, pantheon-sorbonne, paris january 25 th,...
TRANSCRIPT
![Page 1: Real Estate Development Key Steps Hotel Projects GESIIC, Pantheon-Sorbonne, Paris January 25 th, 2013 Yilmaz KARAUC Global Project Management](https://reader038.vdocuments.mx/reader038/viewer/2022102900/55189ae8550346881f8b4614/html5/thumbnails/1.jpg)
Real Estate DevelopmentKey Steps
Hotel Projects
GESIIC, Pantheon-Sorbonne, Paris
January 25th, 2013
Yilmaz KARAUCGlobal Project Management
![Page 2: Real Estate Development Key Steps Hotel Projects GESIIC, Pantheon-Sorbonne, Paris January 25 th, 2013 Yilmaz KARAUC Global Project Management](https://reader038.vdocuments.mx/reader038/viewer/2022102900/55189ae8550346881f8b4614/html5/thumbnails/2.jpg)
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REAL ESTATE DEVELOPMENT PROCESS – KEY STEPS
AGENDA
Key Points
Overview of a development project key steps as Developer
Existing & Take-over projects key steps as Developer
Project Structures in following cases:– Hotel Operator is the Developer
– Hotel Operator leases or acquires after Completion
– Hotel Operator is only Hotel Manager
Questions
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Key Points
In Real Estate Development Process the followings are crucial:
– Sequential process
– Deliverables
– Internal Validations
– Accountability
– Program Optimization
– Cost Certainty
in order to ensure project completion:
– within the Budget & Time
– and in compliance with the Product and Technical Guidelines.
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Overview Of A Development Project Key StepsS
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Project Detailed Program
& PreliminaryStudies
2
1. Program analysis & optimization
2. Detailed Hotel Program
3. Base building Schematic Design
4. Interior Design Brief
5. List of proposed interior designers
6. Project Structure
7. Updated project cost plan & time frame
Program Committee
1. Project Delivery validation
2. Pre-opening phase
3. Hotel opening
Project Delivery& Hotel
Opening
5
Hotel Opening
Project Works
Execution & Follow-up
4
1. Design Development
2. Tender file
3. Tender for works
4. Beginning of Works
5. Execution studies
6. Mock up room
7. Execution of works
8. FF&E integration
Mock up Room
Handover
Project Assessment & Feasibility Analysis
1. Pre feasibility & Market overview
2. Preliminary Cost Plan
3. Site identification
4. Concept Design
5. Techn. Feasibility & Constructability Study (Technical File)
6. Initial Cost Plan
7. Business Plan
1
Development / Investment Committee
Project Final
Program & Detailed
Studies
1. Final version of the Program
2. Detailed Interior Design & Landscape drawings
3. Final Project Budget
4. Project time schedule.
Program Committee
3
Tender
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Existing & Take Over Project Key StepsS
tep
s’ C
on
ten
tK
ey S
tep
s
Project Detailed Program
& PreliminaryStudies
2
1. Agreement for Acquisition
2. Program analysis & optimization
3. Detailed Hotel Program
4. Base building Schematic Design
5. Interior Design Brief
6. List of proposed interior designers
7. Project Structure
8. Updated project cost plan & time frame
Program Committee
1. Project Delivery validation
2. Pre-opening phase
3. Hotel opening
Project Delivery& Hotel
Opening
5
Hotel Opening
Project Works
Execution & Follow-up
4
1. Design Development
2. Tender file
3. Tender for works
4. Beginning of Works
5. Execution studies
6. Contractor Mock up room
7. Execution of works
8. FF&E integration
Mock up Room
Handover
Project Assessment (DD & PIP) & Feasibility Analysis
1. Pre feasibility & Market overview
2. Site Identification
3. Preliminary Business Plan
4. MoU / Due Dilig.
5. Property Improvement Plan
6. Concept Design
7. Techn. Feasibility & Constructability Study (Tech. File)
8. Initial Cost Plan
9. Business Plan
1
Development / Investment Committee
Project Final
Program & Detailed
Studies
1. Work Permit & Acquisition
2. Final version of the Program
3. Detailed Interior Design & Landscape drawings
4. Concept Mock up Room
5. Final Project Budget
6. Project time schedule.
Program Committee
3
Tender
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HOTEL OPERATOR IS THE DEVELOPPERProject Structure
OWNER’s Representative (Secondment Agreement)
Third PartyTechnical Inspection
Project Management Team
Project ManagerCommercial Manager
Design ManagerLogistics Manager
Time SchedulerH&S Manager
Document Controller
Civil Engineer
Main-Contractor
PROPERTY OWNERSHIPCOMPANY
Hotel Consultant
Suppliers
Assistant to Owner (AMO Contract)
TYPICAL PROJECT STRUCTURE / SUBSIDIARY or J.V.
Local Technical Department
Brand Standards
I&D Interior Design Validation
OperationsCoordinator
FF&EProcurement Agent
Sub-contractorsFF&E, EQT, OSE
Installation
Contractual only
Management only
Relational
Product Interior Designer
Interior DesignerDecoration
Architect
Fire Safety Consultant
MEP Engineers
IT/VDI Engineer
Kitchen Consultant
Lighting Designer
Elevator Consultant
Cost Consultant
Contractual & Management
Façade Consultant
Signage Consultant
Sub-contractorsTrade Package
Works
Technical Due Diligence
(if Renovation)
DiagnosticsAsbestos & Lead(if Renovation)
Waste & Rain waterpipes diagn. (if Renovation)
HotelBrand
HOTEL OPERATORBusiness Unit
Lease Contract
SteeringCommittee
HOTEL OPERATORInvestment Funds
THIRD PARTYInvestment Funds
F&B ConceptAssistance
Spa ConceptAssistance
IT SupportHES Coord
ProcurementProperty Mngr
Hotel Operator Involvement in Management
Hotel Operator Involvement in Management (Optional)
Surveyor / Geometre
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Hotel Financing, Development & OperatingProposed International Scheme
HOTEL GROUP WORLDWIDE
LOCAL HOTEL INVEST. & OPERATING
CO.
100%
LOCAL HOTELOPERATING & DEVELOPMENT
JOINT-VENTURE CO.
LOCAL PARTNER INVEST. & DEVELOPMENT
CO.
51% 49%
HOTELProp Co
HOTELProp Co
HOTELProp Co
HOTELOp Co
HOTELOp Co
HOTELOp Co
100%
Lease Contracts
Management ContractLicencing AgreementTechnical Assistance
100%
LOCAL BANKLoans Agreement35 / 65 (equity / debt)
Construction ContractsAsset Management
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HOTEL OPERATOR LEASES / ACQUIRES AFTER COMPLETIONProject Structure
OWNER’s Representative Program Manager
Third PartyTechnical Inspection
Project Management Team
Project ManagerCommercial Manager
Design ManagerLogistics Manager
Time SchedulerH&S Manager
Document Controller
Civil Engineer
Main-Contractor
PROPERTY OWNERSHIPCOMPANY (POC)
Hotel Consultant
Suppliers
Assistant to Owner (AMO Contract)
TYPICAL PROJECT STRUCTURE LEASE / ACQUISITION
Local Technical Department
Brand Standards
I&D Interior Design Validation
OperationsCoordinator
FF&EProcurement Agent
Sub-contractorsFF&E, EQT, OSE
Installation
Contractual only
Management only
Relational
Product Interior Designer
Interior DesignerDecoration
Architect
Fire Safety Consultant
MEP Engineers
IT/VDI Engineer
Kitchen Consultant
Lighting Designer
Elevator Consultant
Cost Consultant
Contractual & Management
Façade Consultant
Signage Consultant
Sub-contractorsTrade Package
Works
Technical Due Diligence
(if Renovation)
DiagnosticsAsbestos & Lead(if Renovation)
Waste & Rain waterpipes diagn. (if Renovation)
HotelBrand
HOTEL OPERATORBusiness Unit
Agreement for Lease
SteeringCommittee
THIRD PARTYInvestment Funds
Hotel Operator Involvement in Management
F&B ConceptAssistance
Spa ConceptAssistance
IT SupportHES Coord
ProcurementProperty Mngr
POC Acquisition Agreement
Hotel Operator Involvement in Management (Optional)
HOTEL OPERATORInvestment Funds
Surveyor / Geometre
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HOTEL OPERATOR LEASES AFTER COMPLETIONProposed Lease Structure
Services
Fixed Rent
Opex by Tenant
Total Cost of Ownership
Proposed Lease Classic Lease End-User
Tenant Benefit Combined benefits
Saving share
Total Cost of Occupancy
Variable Rent
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HOTEL OPERATOR IS ONLY HOTEL MANAGERProject Structure
OWNER’s Representative Program Manager
Third PartyTechnical Inspection
Project Management Team
Project ManagerCommercial Manager
Design ManagerLogistics ManagerTime SchedulerH&S Manager
Document Controller
Civil Engineer
Main-Contractor
PROPERTY OWNERSHIPCOMPANY
Hotel Consultant
Suppliers
Assistant to Owner (AMO Contract)
TYPICAL PROJECT STRUCTURE / HOTEL MANAGEMENT AGREEMENT
Local Technical Department
Brand Standards
I&D Interior Design Validation
OperationsCoordinator
FF&EProcurement Agent
Sub-contractorsFF&E, EQT, OSE
Installation
Contractual only
Management only
Relational
Product Interior Designer
Interior DesignerDecoration
Architect
Fire Safety Consultant
MEP Engineers
IT/VDI Engineer
Kitchen Consultant
Lighting Designer
Elevator Consultant
Cost Consultant
Contractual & Management
Façade Consultant
Signage Consultant
Sub-contractorsTrade Package
Works
Technical Due Diligence
(if Renovation)
DiagnosticsAsbestos & Lead(if Renovation)
Waste & Rain waterpipes diagn. (if Renovation)
HotelBrand
HOTEL OPERATORBusiness Unit
Lease Contract
SteeringCommittee
THIRD PARTYInvestment Funds
Hotel Operator Involvement in Management
F&B ConceptAssistance
Spa ConceptAssistance
IT SupportHES Coord
ProcurementProperty Mngr
HOTELTRADING CO.
Hotel Management Contract
Hotel Operator Involvement in Management (Optional)
Surveyor / Geometre