The professionals within the IRR Hotels specialty practice group provide market and feasibility studies to assist developers, investors and lenders to determine the financial viability of proposed hotel, resort and resort residential projects.
As top experts in local markets, we provide accurate and insightful market studies and highly conclusive feasibility studies to assist clients in their real estate development and property management decisions. It is common to consider market and feasibility studies as one and the same. They are, however, two different concepts and typically occur at different stages of the development process. In general, a market analysis seeks to define the intersection of supply and demand that will create a market for a specific property use at a given price. In contrast, a feasibility analysis seeks to determine if the perceived market value exceeds the cost of construction or redevelopment of a property. When certain economic, financial, and/or social goals are met, feasibility is generally thought to have been achieved. We provide top quality services that strive to accomplish both:
- Enhanced market analysis
- Enhanced feasibility analysis
Our consulting services which are unique to the hotel, resort and hospitality space assist with the refinement of the proposed project scope, and/or the financial reality checks to ensure the already conceived project meets with investor expectations.