For Developers
A hotel is the hardest thing to put in a development, and the easiest to get wrong.
You are planning a mixed-use scheme or a standalone hotel. The question is how much hotel, of what kind, and whether it pays its share of the building.
What usually goes wrong
Four things we see most often.
- 01
The hotel is sized to fill a floor plate, not to meet a market.
- 02
Keys are counted before the restaurants, ballroom and back of house are planned, so the area runs out.
- 03
An operator is chosen for the brand name before anyone has compared the contract terms.
- 04
Land cost is loaded into the hotel, so a good hotel looks like a bad investment.
What we do for you
Where we come in.
Highest and best use
Hotel, apartments, retail, offices or a members club: which use earns most per square foot after its cost to build.
Feasibility and the business case
A USALI pro forma with income statement, balance sheet and cash flow, a sensitivity, and no land cost.
Hotel planning
Concept note, area programme, adjacencies and HVAC loads your architect can build from.
Operator selection
Management, lease or franchise, and term sheets compared like for like.
Start with these