A hotel feasibility study investigates the financial viability of your property. HIP Hospitality executes a detailed analysis to provide you with an economic assessment of the investment, predict the future conditions based on real figures, redefine the project based on the results to achieve maximum ROI and develop a business plan.
We describe the tourism identity of each destination, showcasing the difficulties and the opportunities that arise for the development of new tourist units. We also determine the placement of your hotel on the tourism map, analyzing the ways it will add value to the broader market.
We examine the competition on local and national level, identifying the strenghts and weaknesses of the competitors, analyzing the pricing policy of the competition and presenting our differentiation factors.
We propose a business model that will bring in revenue to your company, through the best room types categorization and the creation of hotel departments. We also determine the qualitative or quantitative direction that will result in the maximization of the financial growth.
We determine the Sales Strategy, setting the pricing policies of all hotel departments per period, including forecasting, analysis and segmentation of the predicted reservations from Tour Operators, online travel agencies etc.
Human Resources & External Partners costs
A detailed presentation of the costs of the hotel staff and all external partners such as Hotel Marketing affiliation, Spa Consulting Companies, Kitchen Team Consulting, Financial & Legal advisors, etc is handed to you.
The Hotel Feasibility Study includes: