Market Condition Analysis
We conduct an in-depth analysis of market conditions to gain insight on the need and potential for a hotel in a particular region. To do so, we study the prevailing economic conditions in the region (commercial and industrial activity, tourism, and employment), projections for coming years, hotel occupancy rates in previous years, the potential for customers in the various market segments (individual travelers, business travelers, leisure and conference/convention groups) at the local, regional, provincial, national, and international levels.
Competition Study
We perform a thorough analysis of your local and regional competition while taking into account possible competition from other similar properties. This analysis tells us which type of hotel has the greatest chance of succeeding in the region.
Supply And Demand Assessment
We prepare a comprehensive analysis of the competition that reflects hospitality market supply and demand. We build a demand model so we can analyze the history of the market’s performance, sources of demand, and the market penetration of hotels based on occupancy and rates.
Hotel Orientation
Following our examination of current market conditions, competition, and supply and demand, we identify the market(s) to target and determine the quality of said market(s).
Marketing Strategies
We recommend marketing strategies to implement to reach your specific goals and objectives in each market segment that has potential for the hotel. Plus, we recommend general strategies with regard to the property’s affiliation status (independent or franchise), perform a costs/benefits study, identify possible ways to maximize hotel performance (occupancy and rates), and determine the most appropriate markets for the hotel to target.
Sales Projections
Based on the marketing strategies we recommend, we draw up sales projections for each target market both in terms of the number of person-nights to expect and the average rates and revenues you can anticipate.
Financial Projections
Based on the above projections, we forecast the establishment’s financial performance for the coming years, taking into account certain factors and assumptions related to the hotel and its performance (increase in occupancy rates and average rates, profits and losses in the various departments) and the economy (inflation and development).
Hotel Layout
We can advise you on the optimal layout of service areas, business premises, rooms, apartments, bars, restaurants, and meeting rooms to ensure maximum operational efficiency. We also make observations and recommendations based on our experience in arranging room types according to the purpose of the hotel.
Helping You Choose An Affiliation
We look at the hotel’s affiliation status (independent or franchise) and recommend the appropriate course of action to take (i.e., continue with the existing affiliation or change affiliation), including a cost/benefit analysis.
Renovations / Construction
We can help you with renovation and construction budgets and plans and insure a follow-up.