A thorough market and site analysis will be completed in the interest of finding a suitable concept for the project location. This will serve as the basis for the site profile which will reveal potential market niches or opportunities for a new hotel.
Hotel Market Analysis
The hotel market analysis will take a closer look at the project vicinity of the existing hotel properties and the potential demand. This allows us to propose a concept which will foster opportunities in this defined market.
A comprehensive study will be carried out to evaluate the aims and objectives of the hotel project to determine its feasibility. By assessing the economic viability of a hotel project through economic trends, property value, and expected future developments.
Concept & Area Programs
A strategic area program is the essential foundation for a successful and high-functioning hotel operation. This entails the development of efficient and viable concept and area programs in supporting a thriving hotel business.
We are able to utilize our extensive knowledge regarding the local and global market and hotel operations to develop a precise hotel valuation. Through the valuation we gain a clear understanding of the potential life cycle and marketability of the property.
Through our comprehensive knowledge of the real estate market and hotel business development, we are able to realize and capitalize on the property’s entire life cycle. Private and institutional investors will be provided with a complete investment management process from acquisition, project development, and future ventures.
Commercial Review & Steering
With the current trends and contract changes, the financial risk is being steadily shifted from the hotel operator to the owner and is creating many new challenges for investors. We are able to provide the investor with effective tools in protecting their best interests in relation to the operation and potential obligations.
Emergency & Interim Management
During economic challenges and crisis situations, we are able to provide support for hotel owners and operations. By striving for long-term stability for all parties involved through economic, technical, legal, and administrative knowledge.
A detailed and comprehensive plan will serve as the outline for success from concept creation to measure business results. Through early strategic planning the project development timeline will be optimized for ideal execution.
Contract management is inclusive of contract auditing, performance evaluations, contract improvement, and as well as negotiations and mediation. Therefore, providing the owner with effective and contracts with the operator and other third parties.
We work hand in hand with the entire project team and engage professionally as a qualified representative. The coordination of all parties during development will take place on all levels and stages of the project.
A steering committee will be in place to resolve all and any necessary decisions between owner and operator. Throughout the development, a detailed documentation regarding the building phase and progress of the project will be provided.
The specification and procurement of both loose and fixed furniture and fixtures (FF&E) as well as the operating equipment (SOE) is an essential stage of the project. Through our extensive expertise, we are confident in supplying optimal contract furniture and hotel equipment.
Hotel Inspection and Sign-off
The official approval of the building is the last and crucial step of project management. This final phase entails the handover of the turn-key property to the hotel operator which signifies project completion. We guarantee through our years of successful completed handovers, that the final inspection and approval of the hotel property will be satisfactory to both the owner and the operator.
Funding a hotel project is continuously a difficult challenge, as hotel developments remains as a direct competition with other investment opportunities. As a result it is important to consider both the financial risks as well as potential profit gain.
Utilization Concept & Optimization
In designing a strategic and efficient hotel property, the development is carried out in three stages: 1) Space Efficiency, 2) Functionality, and 3) Usability. The long term success of a hotel is based on a strong foundation of these important preliminary factors.
Operator procurements allows us to offer pre and final selections of a suitable hotel operator for the property. An appropriate operating and services agreement will be negotiated for in providing an easy arrangement. Through this process we can ensure a quick and discrete selection of a suitable operator.
Implementation of Operator Standards
Within every hotel development, there is a delicate balance to maintain in order to produce a successful project. We aim to create a harmonious merge between the owner’s vision, the operator’s brand identity, and the hotel industry standard.
Construction Costs Estimate
Through close observation of the project development, we will review and generate an appropriate financial evaluation. Our analysis will be able to guarantee our clients a realistic estimate of the overall construction costs.
As a hotel project can be an incredible feat, it requires project coordination to allow for a successful yet productive execution. It is essential that we use efficient cross communication and coordination in providing clarity to the entire project team. We will be tasked with bringing together all parties in making mutual agreements and to efficiently implement the development process.