ABOUT THIS REPORT
GSG will provide a Preliminary Market Overview for the subject area that is customizable to meet the needs of our clients. This Market Overview provides a demographic and economic overview of the subject area to determine the preliminary need for the expansion of an existing asset or a new greenfield hotel development. A written report will be provided based on research and analysis of the variables that may impact the turnaround, expansion or new development project.
GSG will analyze market conditions, economic and demographic factors, and site conditions to determine their impact on the proposed project. GSG will utilize both primary and secondary data sources to provide a preliminary evaluation of the subject area’s need for additional rooms. The Research will gather primary data and input regarding the preliminary need of the project today as well as analyze the potential for future growth in demand in the subject area.
The GSG Preliminary Market Overview will address the estimated operating performance of the project and will provide recommendations as to size and scope of the development. The Report provides owners, investors, operators and lenders with a snapshot of the preliminary overview of the potential project based on market conditions at the time of the report.
While GSG will customize the scope of the Preliminary Market Overview to reflect the individual needs of our clients, the typical report will include the following:
Preliminary Supply & Demand Analysis
Preliminary Operational Projections
Conclusions & Recommendations
The GSG Preliminary Market Overview is designed to provide a preliminary assessment of the market’s ability to support a hotel development. Should it be determined that the market can in fact generate the appropriate demand to support the hotel development, a comprehensive GSG Market Feasibility Study (Hotel) should be completed to address the overall feasibility of the project.