The largely saturated hotel market does not allow for errors anymore. The capacity of hotel operation must fit the location, but above all fit the target groups and market segments. The wishes and expectations of the hotel and restaurant guests change rapidly. Who applies yesterdays concepts, reduces clearly his chances of success.
The achievable price level is made up of the attractiveness of the location, the target groups, and the quality of the services (as well as its relevance to the various guest segments), but also the activities of the competition. Therefore, before sound calculations can be carried out, facts need to be gathered together and evaluated by experts.
Within the frame of this analysis, is to determine, if and which requirement is necessary for a hotel at the planned location/region. On request and if it makes sense, the most likely economical business type is designed based on the data and reviews.
The following areas belong to this concept:
A detailed market, location, and competition analysis helps to assess the market situation and the corresponding need for an additional hotel or an extension or a reconstruction. Only because of this, it is possible to draw up a detailed, demand-oriented, and functional operating concept and the corresponding economic efficiency calculations.
Within the frame of this analysis is to determine, if and which requirement is necessary for a hotel at the planned location/region. In addition, this preparation gives information of what are the best market chances and for what operation type (category, capacities, special facilities, and equipment features). This depends on the potential to determine the possible target markets or segments of the hotel.
Which companies are identified as possible competitors? For example, the distance to a competing conference hotel should be much further away than to a competitor in the business travel market. The eligible hotels are visited for a strengths-weaknesses analysis (and from that are derived niche possibilities). Price and satisfaction analysis complete the search. Moreover, via our network of tour operators or conference agents it is possible to describe also very realistic demand scenarios and required situations.
From the findings of the location and potential analysis, a profile of the product requirements can be deduced and the concept of a business type created. This includes the necessary facility features in the rooms, conference rooms, catering, the sports, leisure, recreation, and public areas, as well as the necessary quality facilities, which is of course dependent on the achievable price.
Thereby, the requirements of the main segments that are not met or insufficiently met by the competition are taken into consideration. This applies not only to the hotel sector, but also to the content concept of gastronomy, as well as to the sports and recreation areas, because even in these areas niches should be found and occupied in the local and regional market, without overlooking the needs of the hotel guests. Where it makes sense, franchise deals from the hotel industry or system gastronomy can be included and evaluated.
The space requirement is determined based on the business concept. For this, an experienced hotel project developer creates a detailed room program and a cost estimate of the construction costs for the new hotel buildings according to DIN 276. The business concept provides the requirements for the room program and makes possible a project-related individual estimate of the required investments. This cost estimate presents to the banks a serious basis for the required investment and forms a professional foundation for the tender and for the creative and design specialized architects.
Upon completion of all analyses, you will receive a sound recommendation, if and what you should build. The survey, in the case of the recommendation, will convince banks and other investors. The concepts are up to date and take into consideration the latest requirements of the different market participants.
The next step:
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Anyone planning a new hotel should not be too superficial in calculating profitability. Especially non-industry inv…more
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