Here is a dirty little secret about Hotelier's dollars lost but never seen; it's hidden in Division 8 of the Master Construction Division of the Construction contract. Within Division 8, the realm of Architectural Doors, Frames and Door Hardware, making up 2-3% of the entire project; ask any Hotel owner from the smallest of properties, a 22 room Super 8, to the giants of Intercontinental or MGM, what they pay for door hardware, or even more specifically a Grade 1 type door closer or a Grade 1 exit device, and your answer, 100% of the time, will simply be "I don't know."
This cost, as stated, only makes up 2-3% of the project, and... "we are simply to busy with the large portions, electrical - mechanical - concrete portion, of this project," so it gets buried in some sub-contracting section. Pathetic!
Not only should $5,000, $25,000 or $50,000 be of importance, regardless of one's size, it is irresponsible not to be more involved into a project, simply not accepting some architect's 'twenty year old' specification, written by a spec writing representing a specific manufacturer. Remember the Fox in the Hen house story? The Architect is an employee of the owner-builder-developer; the check is still written by 'ownership'.
It is easy to say that in today's society, with an economy that is in a recession, a volatile stock market, $110 barrels of oil, bread (seemingly) at 30% daily price increases, etc. etc. etc. that one should be watching every 'Penny' spent, either at home or on the job. Isn't running a business not only about 'Sales' but also about 'Cost?' Isn't it the responsibility of ownership, or ownership's representatives, to 'always' watch 'cost'; good market or poor? Learn to know what real costs are and where they exist; pennies and dimes add up to serious money that sometimes are never seen.