The scope of this project should be separated into four sections: A. Address the current and projected market demand for the number of recommended rooms. B. The type and duration of hotel lodgings in the study area or nearest applicable area. C. Potential site locations and assessments of most productive development for those locations. D. A competitive analysis and assessment of what a hotel facility must do to reach a breakeven point. E. An economic feasibility analysis, complete with proforma, sources and uses. Analysis must include operating budget for a potential hotel, complete with projections through year 5 or longer and an appraisal to assist in project financing to include the following details: Market Demand Analysis • Future lodging and hospitality demand in the market area. • Review of demand generators. • Review of STR (Short Term Rentals) reports. Project Feasibility Study • Project feasibility study. • Assess the viability of the preferred hospitality product in community. • Identify market constraints. • Estimate occupancy rates. • Estimate capital investment required and expected revenue return needed to attract able investors. • Estimate municipal room tax amenities.
