Concept Development
The crucial steps from vision to concept and realization of a hotel development in proper sequence
Success or failure of a hospitality project is determined by several aspects which begins with the first step, the development of a concept that is perfect at the given time, location and target market.
What makes Concept Development as the crucial first step in the development of a hotel or any other hospitality project, is the staggering number of considerations to be made that remain at interplay throughout the project. Concept development requires careful planning, evaluation, execution, communication, coordination and timing among many other sensitive tasks… each is part of its totality and can have positive or negative ripple effect to the other.
An error in the development can be costly for the investor either to ignore or to rectify, and therefore rendering a carefully developed concept by a professional consultant is crucial to its success.
The following table illustrates the statistics of failure in the development of hotel projects researched by a German consultant showing that more than 70% of failed hospitality projects include insufficient research, faulty concepts, bad location, wrong assumptions, poor planning and lack in expertise.
Errors in the development of hotel projects
(multiple mention possible)
-
Misjudgment of locations
8% -
Insufficient Research
12% -
Wrong capacity, category, concept
40% -
Building, room and space planning
65% -
Project Management
18% -
Missing brand standards
85% -
Atmosphere and ambience
35% -
Operator search and financing
20% -
Investment and ROI calculation
42%
To avoid various development problems, our experts can help you plan the new business structure, considering all perspectives that may influence its long-term life and success.
Our Concept Development consultancy scope of services includes the following through its several design stages until the start of construction or the hotel’s opening and beyond, but is not limited to:
- The development of a striking and innovative operating and marketing concept for a destination, hotel, resort, restaurant, glamping or any other hospitality enterprise;
- Assistance in the evaluation of ideal location including road connections, public transportation and other traffic considerations of access and egress in coordination with a third-party landscape master-planner;
- General conceptualization and facility/space/lay-out planning of the entire development;
- Specification of room categories, room count and their sizes; specifying the capacity and theme of F&B outlets, banquet, conference and other leisure, sports and entertainment facilities;
- Unique and innovative features that are Instagram-able selling propositions;
- Integration and application of important aspects of Sustainability/Green/ESG rules and standards to secure the future value and viability of your asset.