4 ways to finance your new hotel project

Posted by Compass Group on Aug 1, 2022

With many COVID-19 travel restrictions in the rearview mirror, travelers are eager to make up for lost time and enjoy new experiences. Factor in the fading popularity of Airbnbs, and the hotel industry has a golden opportunity to capture new, eager tourists with exciting and authentic properties. After you’ve solidified the idea, researched the market, and developed your hotel business plan, you need to bring your hotel idea to life. And that takes capital. After all, the national average cost (according to Fixr) to build a hotel ranges from $13 million to $32 million. At the low end, you can build a motel for $7.5 million, while luxury five-star hotels can cost more than $60 million.

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Topics: hotel construction

3 trends for today’s office buildings: Flexibility and health are top priorities

Posted by Compass Group on Jul 18, 2022

When the COVID-19 pandemic hit, remote work became a way of life. More than two years later, companies continue to realize the benefits that a flexible work location can have on employee productivity. And with 83% of workers preferring a hybrid model, leaders also realize how offering hybrid options can retain and attract talent

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Topics: construction industry

Airbnb is out – and hotels are making a comeback

Posted by Compass Group on Jun 16, 2022

A decade ago, Airbnb disrupted the tourism industry, offering an alternative to hotel rooms when visiting other places. Travelers loved the concept of staying in a home and the flexibility Airbnbs provide. But, Airbnb’s glory days are over, it seems, as users are waking up to issues that can arise with these vacation rental sites – dirty accommodations, high fees, controlling hosts, and even safety. The backlash against Airbnb has been widespread, with viral TikToks putting issues on full display for the world.

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Topics: hotel construction

Construction costs are rising — What does that mean for you?

Posted by Compass Group on May 18, 2022

Since the beginning of the pandemic in 2020, the cost of building materials has steadily risen alongside an increasing labor shortage. Supply chain issues have caused a spike in costs and severely extended the timelines for new construction.

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Topics: construction industry

Water, Rest, Shade, Repeat: OSHA's enhanced heat-safety guidelines

Posted by Compass Group on Apr 27, 2022

It is time to beat the heat! No, seriously it is time to beat the heat with OSHA’s new National Emphasis Program (NEP) that will help protect millions of workers from heat-related illnesses and injuries. Millions of workers around the United States and here at Compass Group are exposed to heat and are susceptible to heat-related illnesses/injuries that are preventable thanks to OSHA’s new and improved guidelines that in-house experts enforce at our work sites. 

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Preparing for tornado season

Posted by Compass Group on Apr 5, 2022

Tornado season is upon us. Though tornado activity typically peaks in the spring and late summer, the Southeast is most at risk in April. At any time of year, Florida’s warm, humid air paired with cool breezes from the north is a recipe for the perfect storm. 

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Women in construction

Posted by Compass Group on Mar 1, 2022

Construction is a historically male-dominated field. With women accounting for approximately 47% of the total workforce, supporting female construction workers is vital for long-term industry growth. According to data from the U.S. Bureau of Labor Statistics, women make up only 11% of the industry. 

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Topics: construction industry

How to develop construction checklists

Posted by Compass Group on Feb 16, 2022

Construction checklists are a must-have for an organized workflow and effective project management.

Checklists are a critical quality-control tool. They are a way to break large projects into actionable tasks while serving as a reference for making sure things get done on time. They can, and should, be used for the management of all aspects of a construction project. The most common construction checklists are for items or activities related to:

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Topics: construction documents

Three things you can do to prevent injury on the job

Posted by Compass Group on Jan 26, 2022

Insights from the 2020 Bureau of Labor Statistics report on fatal construction job-site injuries.

The annual release of the Bureau of Labor Statistics census of fatal occupational injuries is one of the best measurements of worker safety nationwide. The latest report shows that the number of fatal work injuries in 2020 was the lowest since 2013.

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Topics: construction industry, safety

Three military skills that apply to a career in construction

Posted by Compass Group on Jan 12, 2022

Compass Group is a veteran-owned business.

Ron and Lisa Flick founded Compass Group in 1999 and have been in the construction industry for more than 20 years. Before starting their company, they met while serving in the military.

The military teaches skills and values such as the ability to adapt, the importance of safety, and teamwork. For veterans transitioning into civilian life, these qualities lend themselves to successful careers in the construction industry.

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Topics: construction industry