No matter the scope or type of your hotel project, the team you put together to work on it has a significant impact on a property’s success. As you comb through different FF&E procurement firms for your hospitality project, you mustn’t overlook trustworthiness as you decide with whom to partner. Since new builds and hotel renovations alike can span years until the project is complete, your relationship with a procurement consultant will be both close and longstanding.
Factoring in a hospitality provider’s integrity will help safeguard you from making the wrong call.
Why Trust Matters in Hospitality
If a chosen procurement firm doesn’t follow through on their promises or play by the books, unfortunately the hotelier is usually the one left to clean up the mess. Ultimately, the state of a property reflects on the hotel owner, and any missteps that occur throughout a project can result in the need for expensive corrective measures.
One such danger of working with an unreliable FF&E procurement company is the possibility of issues with project finances. Some procurement providers, either because they lack a solid financial standing, are taking shortcuts, or want their pricing to appear less expensive, do not collect and remit sales taxes for products. This liability falls back on the hotelier, who may not even be aware. Another issue is when a procurement provider fails to pay vendors on time, resulting in delays for receiving critical FF&E items.
Another risk of using an irresponsible hospitality procurement firm is failing to meet brand standards. Cheap or deceitful procurement agents may try to cut corners by purchasing products that are similar to the requirements of your flag but don’t quite meet the specifications. Unapproved FF&E items will likely need replacing, adding unnecessary costs and complications to a hotel project.
Determining Whether a Procurement Company is Reliable
Reputation is everything in the hotel business. Though the hospitality industry is large, the community is tight-knit, and it seems almost everyone has worked together in some regard. Word of mouth can be incredibly useful in discerning whether an FF&E procurement provider lives up to its promises. Your brand is a great reference point for choosing a good one. Ask your flag for a list of pre-approved procurement firms and be wary of anyone who doesn’t make the list.
Go a step farther in your reputation check by requesting client references from FF&E companies. Other hoteliers will be able to tell you how their experience went so you can decide whether a procurement partner sounds like a good fit for your hotel project.
Trust is the pillar of all business relationships, so being diligent in your research of a procurement provider will go a long way in ensuring your hotel project goes according to plan. Innvision Hospitality prides ourselves on our reputation and culture of building honest, long-lasting, and mutually beneficial relationships with our clients. Contact us today to learn more about what we can do for your next hotel project!