Hotels & assets
PIP (Property Improvement Plan)
A brand-mandated scope of works a hotel must complete to meet or retain its franchise standards. Triggered by renewal, sale, refinancing or conversion — and considerably more negotiable than owners assume.
Practitioner consensus puts a meaningful share of PIP line items as negotiable: swapped, deferred, or value-engineered. But only with preparation — condition data showing an item does not need replacing, costed alternates, a phasing proposal, and early engagement.
Walk in without those and you are not negotiating. You are renovating at full scope and list price on somebody else’s timetable, which is the most expensive way it is possible to renovate a hotel.