All interesting article to read What To Expect When Going Through Hotel Constructi | Page 2

What About My Contractor?
It is important that your contractor has hotel building experience. There are specific codes and
requirements they must meet for hotels. When it comes to paying your contactor, you will be asked
how much retainage will be held. Retainage is a percentage of the contract that the lender holds back
on each request for payment. This ensures that the contractor will meet their deadlines. Your lender
will then set up a payment schedule to make sure your contractor is paid in a timely manner and your
contract is being met.
With this information, now you are ready to begin a successful hotel construction!
Article source: http://homelandguild.org/what-to-expect-when-going-through-hotel-construction/