Our general practice is that we will put all arrangements in writing so there is no confusion. You are more than welcome to reach out to us with any questions that you have at any point. Please first review common questions below to see if your question can be answered immediately.
How long have you been in business?
Linked Investment Group, LLC was first formulated in 2011. It is spearheaded by a successful previous business owner, Scott J. Johnson, who has vast experience in the real estate and financial market.
How long does it take to complete a project?
The length of time will depend on the overall scale of the project. Timelines will be clearly defined in any agreements prior to moving forward so we encourage you to contact us to develop a plan for you. Which will include a detailed work plan and schedule.
Do you have customer service?
Of course! Our friendly and knowledgeable customer services reps are available to answer your questions 24/7/365.
Why has Linked Investment Group (LIG) initiated the PIP program?
Property Improvement Plan (PIP) was created to maintain our positioning strategy in the mid-scale segment. The LIG brand competes in the middle of the segment in a very competitive environment. The voice of customer (VOC) product scores tell us that LIG needs to upgrade and to be more consistent as there is a wide disparity across the brand. The data indicates the need to retain and grow our market share through property improvements.
Why should I consider a PIP?
Voice of Customer scores indicate that products meet expectations of value for the rates charged. The age of many properties and the lack of remodeling further this response. As markets rebound over the next few years LIG is here to help improve scores and keep consistent with the rates currently being charged.
What is the typical cost to implement the PIP?
Typical cost range (per room, per year) if the PIP is completed over the three year period is: 2011= $1200 to $1700; 2012= $1800 to $2300 and 2013=$2000 to $2200. Now in 2017 that number is higher, closer to $3500 per room. Depending on age of the property (10 years and older or 10 years since the last remodel) and the specific property needs, it is expected the PIP would typically not exceed $6k – $7k per room.
No one from the design/construction department visited my property, how did you determine what should be on my PIP?
Each property was evaluated individually based on the brand standard specifications and timelines. In 2010 as the Business Managers visited the hotels for their Quality Assurance Evaluations, they completed a PIP audit form that reviewed the hotel’s FF&E and brand standard items. The Business Managers also took hundreds of photos of each hotel. This data was our tool to then write the individual PIP letters to the owners.
I had made updates in the past few months, how are these reflected in my PIP?
Once the PIP letters are sent to each hotel master owner; we initiate conference calls with each one to insure that the information was accurate, up to date and fully understood by everyone. By calling each owner and reviewing the specifics we could be sure that we are tracking the correct status of each hotel PIP. The calls also assure the owners that they have a responsible and reliable project manager to help them through the process smoothly.
Is it better to complete the PIP all at once?
The general consensus is that the PIP has a greater impact for guests if accomplished all at one time. This allows for a more aggressive impact on rates as the increase is justified by the updated and fresh look; and a fully remodeled hotel is easier to market. Having an immediate rate increase accelerates the potential ROI(return of investment) on the project versus installing items over three years. The rate increases are less dramatic if portioned incrementally as each part of the PIP process is completed.
What are the ROI opportunities?
In some locations the opportunity will be to retain or increase market shares and occupancy. A fresh new hotel will appeal to new accounts and leisure travelers. In others it may be the opportunity to increase rates and limit discounting to capture business. Some hotels have chosen to lead their market at a rate in which they may not have been able to accomplish prior to updates and remodels.
What is the best way to fund my PIP?
Ownership groups vary, some will fund their PIP with loans, capital from investors and others from cash flow or through leasing programs.
Will LIG provide financial assistance?
No, bank loans and line of credit covenants with our lenders prohibit LIG from providing loans or funding to anyone including franchisees.