Feasibility Study for a Real Estate Developer
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Project scope
- What is the main goal for this project?
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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.
- What is the main goal for this project?
-
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.
- What tasks will learners need to complete to achieve the project goal?
-
No deliverables exist for this project.
About the company
- https://timesgroupcorp.com/
- Sales, Real estate, Construction, engineering & trades
For over thirty years, we have planned and built some of the finest commercial and residential buildings in the Greater Toronto Area. We began with custom homes, and as our expertise and ability grew, so did the scope of our projects. Today we proudly call ourselves a premier Canadian owned and operated real estate development firm.