Hospitality consulting
Majority of my consulting projects were feasibilities studies. We help clients figure out what type of hotel investment makes sense and generate revenue in the market they are targeting, similar to product-market-fit.
Feasibility study process
Imagine a client approaching you with a dream: a new hotel that caters to a specific need in the market. My role? To transform that dream into a compelling investment proposal.
Understanding the client's vision
It all starts by delving deep into the client's objectives. Where are they looking to develop this hotel? What is their target return-on-investment or other financial goals? This understanding becomes the foundation for crafting a guest experience that resonates with their vision.
Market research to understand the landscape
Qualitative interviews offer invaluable insights into guest preferences and needs. Quantitative data from tourism and hotel statistics paints a broader picture of supply, demand, and competitor analysis.
Compiling and analyzing the research data
We answer crucial questions:
How has the market evolved?
What are the future trends?
Where are the existing gaps in the market?
How can the client's unique value proposition fill those gaps and ensure success?
Business strategy to find the suitable concept
Informed by the research, we develop a profitable business strategy. Will it be a luxurious boutique experience nestled in a vibrant tourist destination, attracting discerning travelers? Or perhaps a large-scale convention hotel catering to business events in a bustling exhibition city? We identify the ideal concept that aligns with market needs and the client's vision.
Facilities and experience design to bring the vision to Life
While certain aspects of the experience might be standardized within a brand, there's room for customization. We explore design elements like décor and cuisine to create a unique atmosphere that reflects the brand identity and resonates with the target audience. For non-branded hotels, the possibilities are even more vast, allowing for an entirely tailored experience.
Financial projections to build the case for the board and investors
Finally, we translate the vision into numbers. Our financial projections detail the projected revenue and costs over the next 10-20 years. This comprehensive analysis, coupled with a clear calculation of the return-on-investment, provides the board and investors with the data they need to make an informed decision.
Unlike digital products, hotels are physical experiences that can't be easily tweaked and tested before millions are invested. While rebranding can offer some post-launch adaptation, it's a costly and complex process requiring new feasibility studies. This leaves clients heavily reliant on the accuracy and depth of our research and analysis, making multi-million dollar decisions based on our insights.
