As a specialist in furniture asset management for the hospitality industry, we like to keep track of news of renovations, updates and plans from brands, hotel owners and franchisees. Since the downturn of 2008 the industry continues to gain momentum and we have seen a strong year-on-year demand for furniture asset management services.
There are many reasons for this increase. If you’re one of our regular readers, then you will know that an increase in awareness of environmental impact has certainly driven sustainable objectives. Furniture asset management has become increasingly important to hotels as consumers and travelers become more ‘enviro-conscious’. There is also an undeniable fiscal impact, with furniture asset management frequently cutting budgets by up to 80 percent. Add to this blend the minimal downtime incurred by onsite work, and you quickly realize why so many organizations are turning to furniture asset management.
One area that is less frequently talked about, but is also a driver of furniture asset management, is a genuine demand for good furniture. And we mean good furniture. High quality, well-crafted items with strong joints and solid construction. No squeaks, gives and certainly no particleboard, chipboard or other low-quality ‘filling’ composite material. Finding such good quality furniture can be a challenge in a time when many individuals seem to have developed a ‘throw away’ attitude to furniture. The ‘rip and replace’ mentality was never a good decision. It was always an environmental and financial black hole for businesses and organizations. Travelers expect high-quality furniture and it’s imperative that the furniture we all invest in is comfortable, well made, built to last and fit for purpose.
Many brands choose to go a step further, and insist on buying from domestic suppliers. The USDA regulates the import of wood-based products, largely to prevent any disease, pest or environmental impact on the flora and fauna of the United States. But to us shipping new furniture from other parts of the globe adds unnecessary carbon footprint, costs and delays. We are strong proponents of buying furniture domestically from well-regarded suppliers, or at the very least knowing the source and the status of the wood assets we buy. This is about making a well-informed conscientious buying decision. We make no secret that we support and encourage buying domestic goods.
It’s also about understanding the wood that your existing furniture is made of. We have refinished softwoods and hardwoods of all different types. It is our job to know what a piece of furniture is made of and how to enhance the natural beauty of wood. Do you know what wood furniture you have and how it can best be preserved? And before you buy from that untested source, are you clear on the wood? Do you know whether or not that the Peruvian Walnut is endangered? Or if that African Blackwood has a ‘near threatened’ status? And if you buy composite materials including particleboard and chipboard instead, then it may have a very short ‘room life’ before it ends up as landfill.
Chances are your organization has already invested in high-quality wood furniture. Now you need to apply furniture asset management best practices to ensure that you are maximizing it. Please contact us today at email@example.com to discuss your investment and how to protect it.