MMCG Invest is an expert hotel feasibility study provider with years of know-how. The financial performance of a hotel project depends on factors that can be closely analyzed and predicted. Elements of a successful hotel project are:
Location:
-market demand for a hotel room within your area,
-market supply (how many competitors do you have and what are their capacity and market share),
-marker absorptions (how will the market react to your added capacity? Which occupancy can you reach?).
Influential Area:
-why are customers seeking room nights in your location?
-is your location pass-through/destination based?
-detailed analysis of demand drivers (what will generate customers for your hotel project, this include attraction, business venues, festivals, and hospitals, also as others),
-what share of demand drivers can your hotel project penetrate?
Competitors:
-which services are you offering your competitors?
-what are their prices/price policies?
-what is the quality of competitors’ services? Will customers prefer them due to their services? What are the reviews of your competitors?
-are there any hotel projects under construction/in planning?
Occupancy forecast
MMCG can predict the occupancy of your hotel project with high precision. Market conditions for the scale of your hotel project have to be adjusted by local factors, such as competition, absorption among the competitors, demand drivers, seasonality, and other location factors.
These are just some factors that have to be considered before hotel project development. MMCG Invest can help you determine a complete hotel feasibility study, including all relevant factors that may reflect your hotel project’s financial performance. Contact us by +1 (646) 777-5113 or via e-mail at info@mmcginvest.com to discuss your market conditions during an initial consultation, free of charge.
