Predevelopment Services
The issue of predevelopment analysis is becoming increasingly important as clients, investors, shareholders and other parties seek assurances that projects proceed in a timely and organized manner. Genesis´ personnel possess the industry knowledge and business experience that brings the predevelopment exercise from the theoretical to the realistic.
Review site context and market needs:
- Summarize competition in the market
- Research historic daily average rate and occupancy rates for the area
- Forecast anticipated market growth
- Outline the design criteria for the property including utilities and zoning requirements
- Assist with the environmental review process
Brand evaluation:
- Recommend hotel quality and amenities to be offered
- Summarize appropriate brands for the property
- Recommend franchise and/or management contract
- Create competitive strategy
- Prepare RFP for market and feasibility study
Hotel programming:
- Recommend guestroom mix and count
- Summarize the recommended amenities and services
Development strategy:
- Prepare development task schedule with responsibilities
- Prepare feasibility report outlining development recommendations
- Franchise and/or Management Agreement
- Prepare Request for Proposal outlining terms of franchise and/or management contract
- Evaluate RFP for suitability and make recommendations
- Identify issues requiring negotiation and establish a positioning strategy
- Prepare the letter of intent for execution by the franchisor or hotel management company
- Assist the Client in negotiating the final terms of the franchise and/or management agreement