Demand Analysis of the Tourism Industry: Evidence from Ontario

Times Group Corp. is considering the development of a condo hotel at 5507 River Road in Niagara Falls, ON, Canada. You are asked to evaluate historic trends and forecast the future competitive demand for lodging accommodations in the area. The results of the project will assist in pre-development of the subject site. Moreover, the findings of the project will indicate the overall viability of the proposed development plan.The scope of the project includes, but is not necessarily limited to the following:An analysis and economic evaluation of the market for tourism in the area.Review of the economic indices which would be most relevant to the success of the proposed development plan.Determining the share of market demand by various customer categories such as tourists, commercial travelers, and group meetings/convention delegates.Analyzing the impact of pandemic on the tourism industry in the area.Forecasting demand in the post-covid era in the area under various scenarios

Government policy towards the tourism industry in Ontario

Times Group Corp. is considering the development of a condo hotel at 5507 River Road in Niagara Falls, ON, Canada. You are asked to identify various government policies in the area and evaluate them, if applicable. The results of the project will assist in pre-development of the subject site. Moreover, the findings of the project will indicate the overall viability of the proposed development plan.The scope of the project includes, but is not necessarily limited to the following:Identify government policies at different levels, i.g. federal, provincial, and municipal, that directly or indirectly affect the market supply and demand.Categorize the existing policies in a meaningful way.Explore the effect of policies on the supply and demand for different types of travelers and hotel guests.Provide recommendations on how such policies can help/hinder the success of the project.

Government policy towards the tourism industry in Ontario

Times Group Corp. is considering the development of a condo hotel at 5507 River Road in Niagara Falls, ON, Canada. You are asked to identify various government policies in the area and evaluate them, if applicable. The results of the project will assist in pre-development of the subject site. Moreover, the findings of the project will indicate the overall viability of the proposed development plan.The scope of the project includes, but is not necessarily limited to the following:1. Identify government policies at different levels, i.g. federal, provincial, and municipal, that directly or indirectly affect the market supply and demand.2. Categorize the existing policies in a meaningful way.3. Explore the effect of policies on the supply and demand for different types of travelers and hotel guests.4. Provide recommendations on how such policies can help/hinder the success of the project.

Feasibility Study for a Real Estate Developer

Times Group Corp. is considering the development of a condo hotel at 5507 River Road in Niagara Falls, ON, Canada.A Feasibility Study is required to evaluate historic trends and project the future competitive supply of and demand for lodging accommodations in the area and assist in pre-development of the subject site. The Feasibility Study will also comment on the overall viability of proceeding with the proposed development (currently designed as a residential condo) as a condo hotel.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 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 assessment of the site and surrounding area to determine their suitability for the proposed condo hotel, taking into consideration such factors as accessibility, visibility, and proximity to demand generators.An analysis of the existing hotels as well as those under construction, planned, or rumored in market area that would provide the primary competition to the proposed condo hotel.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 condo 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.