What Determines if Hotel Projects Move Forward?

Wilhelm: “I look at timing and finance. I really want to understand where they are in the timing cycle: drawings, permits, where are they in their financing?”

IRVINE, CA—Timing is a major issue in hotel projects as this point; if a project is not far enough along in drawings, permits, etc., it may not make it off the ground, R.D. Olson Construction’s president Bill Wilhelm tells GlobeSt.com. The firm, a successful builder of hotel properties in California recently completed construction on Homewood Suites by Hilton Irvine/John Wayne Airport. The ground-up project marks the firm’s first partnership with Irvine-based hotel management and development company DKN Hotels.

The four-story, 161-room hotel is located in the Irvine business and industrial district and is close to Orange County shopping centers the District, South Coast Plaza and Fashion Island. The hotel represents the firm’s third completed project in Irvine, with the Irvine Spectrum Marriott currently underway.