The hard costs of your hotel construction is where most of your investment will go. Hard costs include building materials, equipment, and labor for your project. Therefore, before you determine how much hotel financing you will need, it’s important to do your research and get accurate estimates for your hard costs.

When deciding on your hotel design and construction, you should shop around for estimates from reputable contractors. Additionally, you should consider material costs and their lifespans. While you may be tempted to opt for cheaper materials and labor, this can hurt you in the long run. Low quality materials generally have shorter lifespans and may require costly repairs more frequently than high-quality building materials. Additionally, you will want to hire a contractor who is experienced and knowledgeable to ensure the best results for your hotel construction.