A Turkish conglomerate with major interests in construction, energy, cement and tourism in Turkey and overseas. The client was originally intending to develop a full service five star hotel as this was desired by the local authorities. Consequently, the client needed independent guidance as to the appropriate product for the market. Consultants Gabrielle Gambina and Ewa Kossakowska. The client owns, amongst other assets, a number of luxury hotels across Turkey.
Hotel Feasibility Study, Step 1 when Planning a New Hotel or Resort
Hotel Feasibility Study - Financial & Market Analysis - Xotels Blog
Economic globalization and diverse development trends keep on intensifying the competition in the hotel industry. The success depends on the restructuring of the conventional system with the aim of reducing management costs, improving service quality, attracting more customers, and satisfying customer expectations. For instance, hotel chains are developing rapidly and enjoy a strong competitive edge, thanks to cutting-edge information technologies and advanced business models that implement branding, chain operation, and standardization strategies. A comprehensive and holistic approach is required in order to truly derive an overall understanding of the complex, integrated and inter-dependent aspects of IT at the time of addressing the key aspects of technology such as WLANs. Hence, further to wireless technology, the guide also delves into security issues.
Five-Star Case Study
In over ten years of helping hotels to open and remodel successfully, we have seen time and again at Xotels how indispensable a feasibility study is. We have also seen how many would-be hoteliers simply assume that their vision will succeed, without conducting any notable research on building a hotel business that will be consistently profitable and competitive. In this article we look at the steps involved in carrying out an effective hotel feasibility study.
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