The Refinishing Touch Blog

When we talk about budgets and bottom lines, it's not just the hospitality industry that we're helping. We spend a lot of time using our skill and expertise to help government agencies. Just like any business, these agencies need to ensure, and demonstrate, that they are meeting budgets and furniture standards, while being as environmentally friendly as possible. Furthermore, any government or federal institution has to ensure that they are working with suppliers that meet high procurement standards. The Refinishing Touch meets these standards, and has been awarded several contracts with the US government.

Since then, we have undertaken refurbishing projects for the FBI, a number of Federal courthouses, the U.S. House of Representatives, numerous military housing facilities, and last but not least, The White House. Our work was formally recognized when we were appointed the Evergreen Award from the GSA.

It just goes to show - it doesn't matter if it's a multi-national hotel, a campus-based college or a Federal agency, refinishing your furniture assets has the added bonus of preserving resources and is a good purchasing decision whatever your needs or budget.

Labels: finance, government, saving money

The travel and hospitality industries have been driving forces in economic prosperity and growth in America. In today's economic climate, the United States is one of many countries being affected by what is now qualified as a global crisis. Daily we hear mentions of national bailouts and continue to see the effects governmental rescue efforts have on an abysmal time in the stock markets.

Banks and industry players are scrambling to gain much needed support from backers and investment firms as officials continue crafting plans to make strides toward a realistic picture of stability. Through all of this financial turmoil, we are beginning to see former stronghold industries being largely affected by the economic downturn.

The travel industry has recently shown that as in the past, it is not immune to the economic woes of the world. It is an industry that relies heavily on the stability of the economy and the people that drive business. As the global crisis continues to grip the attention of leisure and business travelers many consumers and businesses are having to rethink travel plans. While just a few months ago, the hospitality and travel industries alike could reasonably rely on international travel from abroad, these industries are realizing that this may now not be the case for the future.

With airlines reporting steep declines, travelers are forced to cope with either increased fares or hold off on travel plans in order to save money. The reality is a majority of consumers are cutting back on travel, due to the serious financial problem at large. Though they have since managed to remain unscathed, the hospitality industry is now seeing four and five star hotels being affected by the financial crisis and the hardships of the travel industry.

We here at The Refinishing Touch, like so many of our industry friends, are striving to make a difference in the hospitality industry during this tough economic climate. Now is the time when it makes more sense than ever to look at internal resources, manage assets, budgets and bottomlines. It's during the down turns that companies can become stronger in the long run when they focus on existing assets and resources.

Labels: economy, finance, Hospitality, travel

Currently, it's been near impossible to escape the news of our country's financial crisis. Phrases like "financial meltdown" or "the largest bailout since the Great Depression" are constantly the focus of the news. Earlier in the week, the Bush Administration asked Congress to pass a bill allowing Washington to purchase $700 billion in bad mortgage-related assets from U.S. financial institutions throughout the next two years, which, if passed, would push the National debt limit to $11.3 trillion. With Wall Street regressing so quickly, it's easy for people to enter panic mode and try to make decisions hastily. This government "bailout" is being promoted as a rescue effort, with concerns for middle class families trying stay in their homes.

So with all of this financial crisis, where do we stand at The Refinishing Touch? As a self-financed company, we know first-hand that managing existing assets is more important now than it's ever been. For our customers, the same rings true. If you've been borrowing against assets that have been dwindling, you need to be able to make the best of what you have and manage them wisely.

If you're finding yourself struggling because of Wall Street chances are you're not running out to replace all of your old furniture in your home. The industries we serve are feeling the effects as well. With less Americans traveling for leisure, the hospitality industry has to rely on more foreign travelers. Universities are searching for more funding to be able to help middle-class families afford to provide higher education to their children.

We're glad that we're able to provide some help in these troubled times to people and organizations who are looking for improved facilities but who can't push for everything to be brand new. Refinishing desks and chairs in a university dorm or conference tables in a small business instead of buying new pieces allows these organizations to continue to manage assets in the ways that are most important to them. As we continue in a country with financial uncertainty, it's reassuring to know that our efforts go beyond tables and desks to the lives of the people that sit at them.

Labels: economy, finance, self finance, Wall Street