RESEARCH BASED FEASIBILTY STUDIES AND ANALYSIS
When you're looking to determine the economic viability of your commercial project, an advanced feasibility study will help guide your decision.
The Good Data Works methodology of conducting your project's feasibility study is transparent, unbiased, and forthright in analysis.
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Hotel Feasibility Studies
Your hotel development is unique and our approach will tailor-fit the needs of your project.
Our boots on the ground approach is coupled with intensive research with
- Market Area Economic and Demographic Analysis
- Hotel Industry Trends and Market Analysis (City, Regional, and National)
- Supply and Demand Analysis
- Site and Area Evaluation
- Financial Analysis
At the conclusion of our work, you will have an integrated document and all useful associated materials to both assist in your decision making process.
Your report will outline:
- Proposed Facilities and Services
- Projected levels of market penetration, occupancy, and average room rate for the proposed hotel for the first five years of operations.
- Detailed Cash Flow projections from operations before fixed charges for the hotel for the first five years of operations.
- Projected Utilization of the Proposed Hotel
- Comments on the appropriate number, types, and sizes of guest rooms other amenities which would best serve the needs of the market.
Extensive research, unbiased results
In order to complete its market analysis Good Data Works will:
- Conduct a provide comprehensive review of market conditions in the site city relative to its broader metropolitan area, as well as state and national averages
- Tour and analyze existing hotels in the area and interview property management,
- Collect and analyze data on the city-wide and competitive hotel markets,
- Assess the nature of hotels in similar-sized markets and evaluate insights
- Evaluate the market potential and support for the proposed hotel on the subject site.
- Evaluate historic trends and project the future competitive supply of and demand for lodging accommodations in the area.
In-Market Research
Our analysis and economic evaluation of the market area is based on:
- Interviews with area business leaders and government officials,
- Compilation of pertinent market data, and a
- Review of those economic indices which would be most relevant to the success of the proposed project.
- Site review and surrounding area study to determine their suitability for the proposed hotel, taking into consideration such factors as accessibility, visibility, and proximity to demand generators.
- Inspection and analysis of the hotels in market area that would provide the primary competition to the proposed hotel- including existing hotels and planned developments.
- Evaluation of the projected hotel supply and demand relationship in the market area to reach conclusions regarding the market support for the proposed hotel.