The Refinishing Touch Blog

At the moment in time, the major financial indicators aren't the greatest that they've been for the economy. In a day and age where the terms "cost-cutting" "recession" and "financial downturn" are all common words, we recognize that this is a tough time. Each day, news of companies and organizations once thought of as untouchable are announcing plans to scale back in any way possible.

We've talked about this before. What does the recession mean for the industries we are most near and dear to? The hospitality industry has seen its largest players adopt belt tightening practices as a means to save where possible and the travel industry as a whole continues to stagger on with offers designed to get Americans traveling once again.

The Wall Street Journal recently published an article that announced the small changes that hotels are making to save on their bottom lines. It is, after all, the little things that make an otherwise ordinary travel experience one to categorize as "extraordinary."

So how much will travelers miss the lotion that was once left in the bathroom of their Marriott hotel room? Or the fresh flowers in the lobby of the Ritz Carlton? In this day and age, we know firsthand that the larger things matter most.

As we look to a recession that is expected to hold its grip for a while, it continues to be a necessity to look at the value of existing assets and plan budgets and bottom lines around economically sound decisions.

Labels: Asset Management, Hospitality, travel

Last week, we had the honor of announcing the completed refurbishment of 20,000 armoires in hotels across the U.S.

As a company, this announcement exemplifies the initiatives that we strive to uphold with each project we take on and every step that we take to complete our work in the most environmentally friendly and economically sound way possible.

As the deadlines quickly near, we are being brought closer to the date that will mark the switch off of all analogue signals throughout the country.

The Refinishing Touch has worked tirelessly with some of the hospitality industry's leading players to ensure that the transition from analogue goes as smoothly as possible. By converting existing assets into digital friendly pieces, we have been able to lead the forge in helping our clients save on their bottom lines while offering a solution that is smart for the environment.

We look forward to the completion of another 20,000 refurbished pieces, and invite all to look at what we have to work with as a means to facilitate this transition before rushing in to less economically sound practices.

Labels: Analogue Switch, Armoire Modification, Refinishing

The concept of what's old is new again isn't the only concept seen in the fashion industry it relates to many businesses as well. We witness this concept as it relates to furniture, architecture, literature, etc. The idea of revitalizing, recycling or repurposing what already exists and reinventing it into something new and fresh is wise on many levels. It's important to see beyond what already exists and think of creative ways to breathe new life into something old.

In a recent Hotel Interactive article, unique hotel conversions are the focus. Recently, the hospitality industry has seen more property conversions such as the Liberty Hotel in Boston, Mass. which came with specific challenges due the location and historic nature of the location. Looking beyond what exists and repackaging is essential. However, with the idea of reinventing existing buildings restoration budgets can run high.

Hotel owners and commercial property builders will face challenges in the conversions but there is reward in the risk. We, at The Refinishing Touch, truly believe in the concept of what old is new again. While converting an existing building into a hotel can be costly and provide challenges, existing hotel properties can make what is old new again when it comes to their furniture assets. Asset managers can take stock of existing furniture on property and determine if they can salvage pieces through refinishing and/or reupholstering. The cost of refinishing versus buying new is cost effective and environmentally friendly.

Labels: Conversion, Hospitality, Liberty Hotel, Refinishing

All eyes are on the United States today as President Elect Barack Obama is sworn in as the 44th President.

With much anticipation, the entire world is eager to see the changes that will occur under this new administration. Although we know the changes won't happen overnight, we believe the strides to make the changes will be underway to help the country financially, environmentally and from an overall government perspective as it relates to the current wars.

A new era is underway and it's our call for responsibility. President Elect Obama has put out a call for action, that we are all accountable to help make the needed changes to help our country. We are stronger in numbers when we are able to come together whether in business, communities and government issues.

Under this new administration, the creation of the new Energy Corps to create renewable energy and environmental clean up projects will be an area we will be focusing on at The Refinishing Touch in addition to the financial bail out issues that will be addressed. As history is made today, we are eager to look ahead at what promise the future holds.

Labels: Barack Obama, Environment, USA inauguration 2009

As the count down is on for the historic Presidential Inauguration, today we have something to celebrate at The Refinishing Touch, we are pleased to announce that in the January/February 2009 issue of Defense Communities, a bylined article from our President and CEO, Mario Insenga, entitled 'Almost New Again' is included.

The article addresses making use of existing assets and the benefits reusing pieces has not only on the environment but also on an organization's budget, with a specific concentration on Government buildings specifically military departments. Today, we are starting to see that more military bases are starting to comply with USC Title 40 by renovating and reupholstering the furniture in residences which in turn will help the government save money as well as help the planet.

As the clock ticks leading up to the historical inauguration, we, at The Refinishing Touch, plan to share our thoughts on the new environmental plans that have put in place by under the new leadership of President-Elect Barak Obama and how we feel this new leadership will help create the change our country needs. We are looking forward to witnessing history in the making on Tuesday, January 20th.

Labels: Asset Management, Defense Communities, government

During this tough economic climate, the hotel industry along with others are re-evaluating business practices and devising plans to sustain. It's important to focus on sustaining current hotel properties by looking at existing assets for the short term in order to thrive in the long run.

In a recent article entitled 'Hotels Try to Adapt to Hard Times,' the focus was on the hotel industry's resolve to attract travelers during this slump. Last year, the Sheraton had 54 new hotels financed which are scheduled to open this year, at a rate of one every three weeks. These new hotels are opening during a challenging time when existing hotels are currently struggling to sell existing rooms.

To save, hotels are exploring closing on-site gyms, decreasing room service hours of operation, reducing operating hours of business centers and closing floors. While these are options, they are not the only solutions.

It's time to focus on asset management. It's time to take funds for outfitting new properties and look at ways to enhance existing hotels with the assets they have on site. We, at The Refinishing Touch, believe in the three R's - refurbish, refinish and reupholster, to make existing assets as good as new, as a solution to help. Furniture may look worn or outdated, but this is no reason to opt to buy new - no matter the state of the economic climate. It is cost efficient and more effective to utilize and update existing assets to save on the bottom line.

Labels: Asset Management, Business, hotel, renovation

The second half of 2008 had many of our heads spinning with news of severe financial meltdowns that would demand government rescue plans to bailout key players in the US economy. The housing crisis pushed mortgage lenders to the front of the world stage being followed closely by Wall Street executives and soon after, the automotive industry's "Big Three" to appeal for governmental aid. It was only a matter of time before many other industries would start to feel the effects of financial crisis.

The latest in a growing list of industries seeking assistance are the players in commercial real estate. Many executives are now stating that an estimated $400 billion in commercial real estate mortgages will come due through the end of 2009. With credit now essentially frozen, commercial developers have found themselves in need of being rescued.

If the government were to step in, a series of resulting actions would allow lenders to offer lower interest rates on loans that would better enable borrowers with maturing debt to refinance.

In a time when everyone could use more than a little help, TRT further promotes the behavior of smart business practice beginning with asset management. To improve existing assets without incurring costs on new items is a saving in itself. Taking stock of what's on hand will be critical for hospitality, government and educational institutions. As financial struggles continue to unfold, it is our sincere hope that we will eventually begin to see a time of stability and resilience on the horizon in 2009.

Labels: Asset Management, commercial real estate, credit, economy, financial meltdowns, government aid, housing crisis, The Refinishing Touch

With 2009 upon us and our New Years Resolution to 'Go Green,' it is important to reflect on noteworthy green efforts of 2008. This past year was the first year that The Princeton Review included the 'green rating' as a category. This rating was generated to rank America's greenest campuses.

Kicking off the New Year with this crucial resolution in addition to The Princeton Review's hyped new category, we can't help but wonder who will be the greenest University of 2009! 2008 saw many colleges making strides in the right direction, but with competition at hand, efforts will undoubtedly amplify.

A recent article entitled 'The greenest college of them all' documented especially impressive green efforts made by universities. Massachusetts Maritime was particularly significant for 2008's green movement.

Maritime built one of the region's first wind turbines back in 2006 which now accounts for about 20 percent of the campus' electrical needs. Recently a LEED- gold certified dorm complex was completed. This was the first state owned dorm to get such a high distinction. The dorm along with its northern campus utilizes solar panels. Microturbines are also used by the University to provide a continuous source of electricity.

But that's not all! Maritime is now actively planning for future green plans. Partnering with a company that makes wind turbines which oscillate vertically in addition to turbines being placed on top of dorms is discussed as part of their future plans.

Here's to hoping that 2009 will see others following Maritime's 'LEED' to become the new year's greenest University.

Labels: 'Go Green', College, green efforts, green rating, LEED, Massachusetts Maritime, microturbine, New Year's Resolution, The Princeton Review, university, wind turbine

As we ring in the New Year, we, at The Refinishing Touch are reflecting on the past year while contemplating New Year's resolutions for 2009. What will be the most popular resolution of the year? While many will make traditional resolutions such as exercise more and lose weight, get out of debt and/or spend more time with friends and family, we encourage you to think about a resolution that will count towards something on a larger scale- A resolution that will not only benefit and impact you, but also the entire planet and its future. We encourage you to resolve to going green in the New Year for a new greener you - for both you and your business.

In an article entitled, "Initiatives- New Year's Resolutions- Addressing the good, the bad, the ugly and the hopeful..." it highlighted 2008 and the trend to go green. Going green has become such a common buzz word over the past few years and within the past years, however, more can be done to help the initiative. During 2008, LEED-certified buildings were popping up left and right, while a significant number of professionals have become LEED accredited. Many companies have joined the U.S.Green Building Council, while many individuals are living, shopping and working daily in green buildings. Small changes can be made to help impact the big the picture of saving the environment we live in. Think about 3 ways you can do your part to go green this year: recycle, become more energy efficient and reuse existing materials.

So why not join the green effort and do your part in 2009? This is a resolution that will help improve your life and all those around you, including the future of the world. We, at The Refinishing Touch, believe in the green movement and it's our resolution to continue to help the environment and our business partners go green through refinishing existing assets. We encourage those who have not adopted the green movement yet to do so in 2009. Make strides to go green in 2009 and let's see where 2009 will LEED us.

Best wishes for a happy, healthy and green New Year from all of us at The Refinishing Touch.

Labels: 2009, Going Green, New Year's Resolution, New Years, Popular Resolution