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Hotel Feasibility Reports


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Hotel Feasibility Reports

  1. 1. Feasibility Report for Hotels and Resorts<br />Extending our insights, knowledge and experience for building and growing businesses profitably<br />
  2. 2. Market Feasibility<br />Collecting information about a potential market that can be used in deciding how a product or service should be designed, delivered, priced and marketed. <br />Market feasibility studies can provide invaluable information about the likely success of new product or service ideas. Any time you are considering changing your products or services, developing new ideas, moving into new geographic markets, or expanding your business or service offering, Market Street Research can provide accurate, timely, in-depth information that will help you make the best possible decisions, given the characteristics of your likely customer base and competitors. <br />2<br />
  3. 3. Who Should Conduct Market Feasibility? <br />Any business or organization facing a significant investment or risk in developing a new product or service should consider conducting market feasibility. If your risk is high or your investment is likely to be large, conducting a feasibility study can greatly improve your chances of succeeding with your product or service. <br />3<br />
  4. 4. Market Research works with you to collect and analyze information about: <br /><ul><li>Unmet needs that could be addressed by a new product or service
  5. 5. Overall demand for new products, services, or ideas
  6. 6. Characteristics of likely customers (such as demographics and buying behavior)
  7. 7. Characteristics of likely competitors
  8. 8. How competitors are likely to react when your product or service is introduced
  9. 9. How your new product or service should be designed to best meet customers' needs
  10. 10. How best to market, advertise, and communicate about your product or service
  11. 11. Likely barriers to successful introduction of your product or service </li></ul>4<br />
  12. 12. Major Contents in Market Feasibility Studies<br /><ul><li>Location [Demographic]
  13. 13. Connectivity and Accessibility with other cities
  14. 14. Seasonality of Tourism </li></ul>Estimated occupancy in different seasons<br />Estimated occupancy on weekdays and weekends<br /><ul><li>Overview of Hotel Industry & Key Players at Location
  15. 15. Key Attraction and Tourist Circuits
  16. 16. Target Audience
  17. 17. Deep Study of Key Players
  18. 18. Target Arrival & Tourist Break up</li></ul>Statistics on visitor arrivals<br />Type of visitor(Business or leisure)<br />Snapshot of local economy<br />Expected changes <br />Average length of stay of visitors in location<br />5<br />
  19. 19. Major Contents in Market Feasibility Studies(..continued)<br /><ul><li>Site Analysis </li></ul>Proximity <br /> Business and Trade Centers, Highways, Traffic Levels, Key Attractions, Shopping Centers, Population Backup<br />Site Specific<br /> Size, Zoning Laws, height restrictions and parking requirements, Visibility, Accessibility <br /><ul><li>Adequate labor supply</li></ul>The middle-management or supervisory level<br />Labor costs projections <br /><ul><li>wages, benefits, Wage trends, etc</li></ul>Unions<br /><ul><li>reasonable, flexible, and prepared to bargain in good faith</li></ul>6<br />
  20. 20. Major Contents in Market Feasibility Studies (..continued)<br /><ul><li>Growth Drivers
  21. 21. Role of Government in Tourism
  22. 22. SWOT Analysis
  23. 23. Demand and Supply Analysis
  24. 24. Critical Success Factors
  25. 25. Concept of Hotel and Resort
  26. 26. Promotional Activities
  27. 27. Financial Feasibility </li></ul>Cost elements<br /><ul><li>Land
  28. 28. Construction
  29. 29. Interest during construction
  30. 30. Furniture, fixtures, and equipment
  31. 31. Operating equipment
  32. 32. Inventories
  33. 33. Pre-opening expenses
  34. 34. Working capital</li></ul>Sources of financing<br /><ul><li> Recommendations </li></ul>7<br />
  35. 35. D’Essence Hospitality is Boutique Management Consulting firm based in Mumbai which provides specialty consulting services for the entire spectrum of the hospitality industry with a special focus on hotel operators, builders and investors<br />This new division of D’Essence Consulting is backed by over 14 years of consulting expertise and industry insights. We bring management and strategy consulting for the first time to the hospitality industry<br />Mumbai<br />Address303, Aar Pee Centre11th Road, Gufic CompoundMIDC, Andheri (East)Mumbai - 400093India<br />Landline +91-22-2834 7425<br />Website<br />Chandni Sahgal, Managing Partner<br />E-Mail chandni@dessencehospitality.comDirect Line +91-22-28228142<br />8<br />