Feasibility Report for Hotels and Resorts

Extending our insights, knowledge and experience for building and growing businesses profitably

Market Feasibility
Collecting information about a potential market that can be used in deciding how a product or service should be designed, delivered, priced and marketed. Market feasibility studies can provide invaluable information about the likely success of new product or service ideas. Any time you are considering changing your products or services, developing new ideas, moving into new geographic markets, or expanding your business or service offering, Market Street Research can provide accurate, timely, in-depth information that will help you make the best possible decisions, given the characteristics of your likely customer base and competitors.

Who Should Conduct Market Feasibility?

Any business or organization facing a significant investment or risk in developing a new product or service should consider conducting market feasibility. If your risk is high or your investment is likely to be large, conducting a feasibility study can greatly improve your chances of succeeding with your product or service.

Market Research works with you to collect and analyze information about:
Unmet needs that could be addressed by a new product or service Overall demand for new products, services, or ideas Characteristics of likely customers (such as demographics and buying behavior) Characteristics of likely competitors How competitors are likely to react when your product or service is introduced How your new product or service should be designed to best meet customers' needs How best to market, advertise, and communicate about your product or service Likely barriers to successful introduction of your product or service

Major Contents in Market Feasibility Studies

Location [Demographic] Connectivity and Accessibility with other cities Seasonality of Tourism 1. Estimated occupancy in different seasons 2. Estimated occupancy on weekdays and weekends Overview of Hotel Industry & Key Players at Location Key Attraction and Tourist Circuits Target Audience Deep Study of Key Players Target Arrival & Tourist Break up 1. Statistics on visitor arrivals 2. Type of visitor(Business or leisure) 3. Snapshot of local economy 4. Expected changes 5. Average length of stay of visitors in location

Major Contents in Market Feasibility Studies(..continued)

Site Analysis 1. Proximity Business and Trade Centers, Highways, Traffic Levels, Key Attractions, Shopping Centers, Population Backup 2. Site Specific Size, Zoning Laws, height restrictions and parking requirements, Visibility, Accessibility Adequate labor supply 1. The middle-management or supervisory level 2. Labor costs projections wages, benefits, Wage trends, etc 3. Unions reasonable, flexible, and prepared to bargain in good faith

Major Contents in Market Feasibility Studies (..continued)

Growth Drivers Role of Government in Tourism SWOT Analysis Demand and Supply Analysis Critical Success Factors Concept of Hotel and Resort Promotional Activities Financial Feasibility 1. Cost elements Land Construction Interest during construction Furniture, fixtures, and equipment Operating equipment Inventories Pre-opening expenses Working capital 2. Sources of financing Recommendations
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DEssence Hospitality is Boutique Management Consulting firm based in Mumbai which provides specialty consulting services for the entire spectrum of the hospitality industry with a special focus on hotel operators, builders and investors This new division of DEssence Consulting is backed by over 14 years of consulting expertise and industry insights. We bring management and strategy consulting for the first time to the hospitality industry
Mumbai Address 303, Aar Pee Centre 11th Road, Gufic Compound MIDC, Andheri (East) Mumbai - 400093 India Landline +91-22-2834 7425 Website www.dessencehospitality.com Chandni Sahgal, Managing Partner E-Mail chandni@dessencehospitality.com Direct Line +91-22-28228142
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