- Brief Feasibility Study
- Mission Statement
- Concept Statement
- Operating Philosophy
- Site Analysis
Brief Feasibility Study
The analysis is based on a thorough review of both Economic trends, Property market’s historical trends and Expected future developments, assessment of a given project or property location and profile, the benchmark of operating results at selected competitors and assessment of the optimal project in relation to the number of rooms, category, size of restaurant and meeting facilities, if any need for spa and wellness and “USP”.
Feasibility studies are in today’s market an absolutely essential element since it represents an objective assessment of the economic viability of a developer or investor, serves as a necessary basis for dialogue and negotiation with one operator and to secure funding.
Spectra has conducted economic feasibility studies in Tier 1 and Tier 2 cities in India and has worked internationally in countries like Sri Lanka, Oman, UAE, Singapore, Hong Kong and Vietnam.
You can review some of our key projects where Spectra has assisted the project with Concept development, Market research and Economic Feasibility Study.
Detailed below is Spectra’s scope in Initial Investigation:
Detailed Economic Feasibility Study/ Techno Economic Feasibility Report (TEFR)
This feasibility study includes a detailed description of Market Location Characteristics, Project Site and Area Evaluation, Competition and Demand Analysis
It will be important for the overall planning of the project to establish a clear Mission Statement together with the Owners and/or Board of Directors. Spectra would assist with the development of a Mission Statement that will set clear and concise guidelines on the classification and operating philosophy of the planned facility. The Mission Statement sets the stage for all parties working together on the project – from consultants, ultimately, to rank-and-file staff.
Utilizing the Clients’ Brief, an Executive Summary of the Feasibility Study and conceptual input from the Consultants, the Concept Statement is a detailed, descriptive projection of how the facilities and services will be perceived by end-users. The Concept Statement introduces some operational issues but focuses on the ambiance and atmosphere of each discrete zone and on the “flow” between these zones.
Operational Philosophy/ Product Positioning Statement
To identify and propose the concepts, strategies and unique features and characteristics that will allow the proposed venture to establish best positioning, identity, characteristics and image.
It will incorporate a recommended concept statement – a detailed, descriptive projection of how the facilities and services will be perceived by end-users.
To assess the potential for the project, a review of the proposed site/s would be undertaken, to determine if the critical success factors are incorporated. This would include a detailed S.W.O.T. analysis (strengths, weaknesses, opportunities, threats) which would focus on the elements affecting the project.
Spectra provides a wide range of value-add services, all of which contribute to improving the performance of every aspect of their business Spectra Hospitality Services proudly offers its clients with a dedicated support structure that facilitates efficiency across all facets of hotel development and operations. We retain the most experienced talent in the industry in order to provide your guests with the highest quality of service backed by the strength of some of the world’s best known brands. This broad depth of knowledge encompasses a myriad of areas, including Interior Design, Procurement of Hotel Operating Equipment and Operator search. When you partner with Spectra, you capitalize upon a comprehensive network of information and expertise designed to maximize the long-term success of your property.