Developing a Resort - The First Step
Leisure Business Advisors LLC (LBA) conducts the feasibility study, the first step in developing a new resort. Consultants typically prepare this study for the developer, and it is generally required by financing institutions.
The study forecasts targeted usage by applying market penetration rates to market segments. These rates are influenced by market size, demographics, competition, and the experience of comparable facilities elsewhere.
The feasibility study also projects potential financial performance and recommends the maximum development costs that would allow an acceptable return-on-investment. These are key issues for those developing the project.
The study also provides initial physical planning parameters to assist the resort designer during the design stage of development. It is critical that the designs are in line with market needs and expected cash flow. These physical planning guidelines need to be in place before the construction part of the developing process can start. Designers, builders, and managers can all benefit from the guidance provided in the study.
As part of the feasibility study, LBA can work closely with you in preparing the initial image package that would assist designers in the design stage of developing a new resort, which follows the feasibility stage. We could provide a walk-through description and color artist conceptual images of your new resort seen through the eyes of a typical visitor. These would preliminarily suggest its general "look and feel" in financing and marketing presentations.
John Gerner, our managing director, has conducted many feasibility studies for resorts over the past 20+ years. We pride ourselves on prompt service and are also sensitive to time constraints. If needed, assignments can be accelerated for an extra fee.
Click here to learn more about feasibility studies and our other services for developing a resort.