The correct positioning of a hospitality asset at a particular point in its life cycle is truly a complex process. Constantly changing market factors, shifts in demand patterns and changing competitive pressures, can all influence a property’s success and constantly force an owner to re-evaluate an asset’s position.
When an asset’s performance is not living up to owner expectations, it’s necessary to implement the most productive and cost effective changes possible, allowing a property to once again successfully compete in its market.
We provide the necessary research to assist in the decision-making phases, developing a hospitality repositioning plan, and then executing the strategy, whether it be a complete rebranding or simply a refocusing of the business model.
The scope of this work often includes:
- Identification of current and desired market segments
- Competitor analysis
- Recommended improvements
- Costing of any renovations or operating changes required
- Cost-benefit analysis
- Forecasted operating results