Persona is committed to providing turnkey and cost-effective solutions for maintaining your brand image standards and meeting deadlines.
What is a Property Improvement Plan (PIP)?
A PIP is an action plan for a hotel to bring the property in compliance with brand guidelines levied by a branded hotel manager or franchisor.
The ultimate goals are to enhance operating profit and asset value of a property.
The plan might include:
- Specific work that must be performed, such as:
- exterior and physical structure upgrades and repairs;
- amenity upgrades
- furniture, fixtures, and equipment changes
- life safety improvements; and
- Americans with Disabilities Act of 1990 (ADA) compliance issues.
- A required timeframe for the improvements, which is typically negotiated.
The branded hotel manager or franchisor usually proposes the property improvement plan either with:
- The branding or rebranding of a hotel on the acquisition of or change in hotel ownership.
- The continued ownership of a hotel. For example, under a long-term management agreement, the hotel manager may have a right to propose a new PIP on designated events or times.
PIPs require conceptual thinking, understanding of construction means and methods, detailed cost estimates, and assessing potential scheduling restraints.
All of these elements need to be incorporated and considered when evaluating a property for potential improvements.
42 years of experience
Signage Refurbishment Program
Within our PIP program, we can replace your sign faces cheaper than companies are able to repair them.
We have refreshed thousands of McDonald’s properties. If you are a franchise owner, get in touch with us for an expedited experience.