How Poor Asset Handover Undermines Facility Budgets and Guest Experience

Whether it’s a new build or a large-scale remodel, many resorts and casinos overlook the critical phase following construction handover – facility asset management. This planning gap often results in deferred maintenance, unexpected capital expenses and serious long-term consequences that only become apparent once budgets are already strained.

The Jackpot Many Organizations Miss

Think about that upgraded HVAC system from the remodel, the new kitchen appliances in the buffer, the recently replaced door locks, the sparkling new pool or even the freshly upholstered gaming chairs. Every one of these assets is depreciating, requiring ongoing maintenance and eventual replacement.

Yet, many organizations lose track of these investments the moment construction wraps up. Assets are installed, but the documentation often stops there, leaving critical details like warranty data, service schedules and replacement timelines scattered or missing altogether.

How many properties actually know where their warranty information is stored? Are OEM service recommendations being followed? Is there a replacement plan in place or are leaders simply hoping each asset lasts longer than the one before?

When assets fail and warranties go unnoticed, facilities teams can end up spending thousands on repairs that should have been covered. The issue isn’t usually the repair itself; it’s the inability to quickly verify warranty status when equipment breaks down. Without centralized visibility, technicians waste valuable time hunting through binders and old vendor emails to confirm coverage. Meanwhile, every hour of downtime cuts into guest satisfaction and revenue.

Key questions to consider:

• • • Where are the assets being tracked?
    • Is warranty data directly linked to each piece of equipment?
    • Can I determine which budget the repair should come from (internal maintenance, vendor, contractor, etc.)?
    • How long will each asset last?
    • What’s the plan and budget for replacing them?
    • Do I have reporting capabilities for on-demand or surprise audits?
    • How does housekeeping collaborate with maintenance during room inspections?
    • How many spare parts are currently available?

The Disconnect? Facilities vs. Finance

Here’s where the real breakdown occurs: facilities and finance departments often operate in parallel, rather than in partnership.

Finance teams focus on capital spending, depreciation schedules and cost optimization. Meanwhile, facilities teams are in constant firefighting mode, managing daily operations, emergency repairs and vendor coordination. What’s missing is a shared system: a single source of truth aligning both priorities.

The consequences:

• • • Preventive maintenance is overlooked.
    • Financial planning fails to reflect real equipment conditions.
    • Replacement planning becomes more reactive than proactive.

Worse, these gaps tend to resurface after every remodel. New equipment is installed, but no one takes ownership of post-project asset management, leaving history to repeat itself.

Why this Challenge is Getting Worse

With rising costs and tightening margins, hospitality organizations can no longer afford to get asset management wrong.

Delaying replacements or deferring maintenance might seem like a good way to ensure short-term cost savings, but these decisions often lead to expensive, disruptive emergencies. For instance, replacing an HVAC fan belt during a scheduled preventive maintenance visit might cost $100-$400 USD. Waiting until it fails could multiply that expense due to emergency labor rates, expedited by parts and unplanned downtime.

Beyond cost, there’s risk. Compliance violations, brand damage from failing infrastructure and safety issues caused by neglected systems all threaten long-term viability.

Inconsistent asset management leaves leadership without clear visibility, creates tension between departments and turns strategic planning into a guessing game.

The Hidden Cost of Poor Post-Project Planning

It’s not just a few broken parts or service delays at stake; the impact runs much deeper:

• • • Brand damage when equipment failures affect the guest experience
    • Safety and compliance risks that invite regulatory scrutiny
    • Wasted capital from lost warranties or unused service contracts
    • Emergency maintenance costs that could have been prevented
    • Leadership frustration caused by limited visibility
    • Financial setbacks when unexpected expenses derailed the budget

These aren’t isolated issues, but symptoms of a larger problem: a lack of opportunity between capital projects and long-term operational planning.

How to Fix the Post-Project Asset Management Gap

It’s never too late to close the gap, but doing so requires a shift in mindset and approach.

Treat Closeout as the Beginning, Not the End

View the completion of a build or remodel as the starting point of asset management. Capture asset data during installation, tag equipment with barcodes or QR codes and ensure this information doesn’t get lost in binders or buried in folders.

Centralize with an EAM System

Implement an Enterprise Asset Management (EAM) platform that both Finance and Facilities can access. A unified system that tracks asset locations, warranty status, room inspections, maintenance schedules and replacement forecasts is essential for proactive management.

Adopt Advanced Maintenance Strategies

Move beyond reactive maintenance. Embrace predictive and condition-based maintenance by monitoring real-time sensor data, such as vibration or temperature, to automatically trigger work orders when parameters exceed defined thresholds. Use analytics and machine learning to detect trends, anticipate failures and forecast equipment health.

Integrate Capital and Maintenance Planning

Don’t wait for emergencies to drive decisions. Use live asset data to shape long-range financial plans. When finance and facilities departments operate from the same dataset, planning becomes proactive and precise instead of reactive and uncertain.

Build-Cross Department Alignment

Establish regular touchpoints between facilities and finance departments. Share dashboards, review high-risk capital areas and align on long-term goals, not just immediate repair needs.

Treat Remodels Like New Builds

A renovation deserves the same level of asset onboarding as a new construction project. Even if it’s a retrofit, every new piece of equipment should enter the system with complete lifecycle data, warranty details and maintenance schedules.

Protect the Investment

The gaming and hospitality industries are at a tipping point. With economic pressures, rising costs and tightening regulations, the margin for error is rapidly disappearing.

But here’s the opportunity: closing the asset management gap isn’t just about keeping operations running. It’s about protecting millions in capital investments, ensuring guest satisfaction and building a foundation for long-term success.