IHC is an independent consulting firm specializing in hospitality management, feasibility analysis studies, site development & hospitality business solutions.
Top 20 Hotel Consulting Firms 2006 - 2007 - 2008 - 2009
Hotel Feasibility Studies
Typical Feasibility Study (Homewood Suites, Harrisburg, Pennsylvania, used as sample)
TABLE OF CONTENTS
Interim Hospitality Consultants is engaged to conduct a Feasibility Study with Financial Projections for a proposed hotel development to be located at the developer's site. The proposed hotel is to have all the amenities commensurate with the type of development desired. Objectives of Study
Evaluate the market potential for the proposed hotel based on an analysis of the market support for a lodging facility on the subject site.
Comment on the appropriate numbers types, and sizes of guest rooms and other amenities which would best serve the needs of the market.
Project levels of market penetration, occupancy, and average room rate for the proposed hotel for the first five years of operations.
Prepare detailed projections of Cash Flow from operations before fixed charges for the hotel for the first five years of operations.
Provide a written report containing the conclusions of the Feasibility Study and present Financial Projections for the proposed hotel.
Scope of Study
The Feasibility Study includes a variety of work steps which enable us to evaluate historic trends and project the future competitive supply of and demand for lodging accommodations in the area. The scope of the work includes, but is not necessarily limited to the following:
An analysis and economic evaluation of the market area based on interviews with area businessmen 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.
An inspection of the site and surrounding area to determine their suitability for the proposed hotel, taking into consideration such factors as accessibility, visibility, and proximity to demand generators.
An inspection and analysis of the hotels in market area that would provide the primary competition to the proposed hotel. Our census of the competitive facilities included both existing hotels as well as those under construction, planned, or rumored.
A determination of the current overall market demand and rooms in the subject area and the share of market demand that is generated by tourists, commercial travelers, and group meetings/ convention delegates.
A projection of growth rates for the various market segments based on the factors that should impact the future demand for hotel rooms.
An evaluation of the projected hotel supply and demand relationship in the market area to reach conclusions regarding the market support for the proposed hotel.
Comment on the proposed facilities in terms of number, mix, and type of guest rooms, and recreational amenities.
Comment on the proposed facilities in terms of style and size.
Projections of occupancy and average room rate for the proposed hotel, including projected market mix of guests.
Projections of cash flow from operations before fixed charges for the first five years of operations.
Market Area Analysis Site and Area Evaluation Supply and Demand Analysis Proposed Facilities and Services Projected Utilization of the Proposed Hotel Financial Analysis Brochure Pouch Franchise Information
MARKET AREA ANALYSIS
Introduction Community Profile Key Advantages Business Climate Area Businesses Real Estate Transportation Education Health Care Quality of Life Neighboring Markets Calendar of Events Attractions Recreation Summary
SITE AND AREA EVALUATION
The Site Highways Maps and Site Pictures Eastern U.S. Map Eastern Pennsylvania Map City Map Site Pictures Traffic Counts Signage, Accessibility, and Visibility Proximity to Demand Generators Utilities Summary
SUPPLY AND DEMAND ANALYSIS
Competitive Market Set Pictures of Competitive Hotels Hilton Hotel Corporation Smith Travel Research: Five Selected Hotels Occupancy Graph ADR Graph Trend Graph Smith Travel Research: Market Area Smith Occupancy Graph Smith ADR Graph Trend Graph Hotel Room Tax Extended-Stay Lodging Chain Survey Up-Scale Extended-Stay Hotel Competition Demand Analysis Commercial Guest Demand Leisure Demand Hotel Base Year Summary
PROPOSED FACILITIES AND SERVICES
General Concept Room Mix Food and Beverage Facilities Meeting Facilities Prototype Rendering Fold-out Drawing 2-room Suite Layout
PROJECTED UTILIZATION OF THE PROPOSED HOTEL
Projected Market Penetration and Occupancy Competitive Set Average Room Rate Projected Average Room Rate
Proforma Year One Minor Revenue Departments Proforma Payroll Recap Rooms Department Administrative and General Food & Beverage Complimentary Services Sales and Marketing Homewood Suites National Franchise Fees Utilities Repairs and Maintenance Proforma The U.S. Extended-Stay Lodging Market by PKF
INTERIM HOSPITALITY CONSULTANTS
Selected Completed Projects Feasibility Study Client List Brochure Letter of Agreement
"A Change for the Better," reprint of Real Estate Forum article.
"Why 'carpe diem' when you can carpe whole weeks at a time?," reprint of Hotel & Motel Management ad.