Boutique hotel feasibility studies are commissioned from hotel developers and investors to estimate demand and to project revenues for a one-of-a-kind product. The uniqueness of a boutique hotel property prompts a different and more creative type of approach to determine its feasibility.
Boutique hotel feasibility studies require careful selection of comparable markets and hotels. The Highland Group produces a boutique hotel study involving thorough research of various data from a different perspective. We provide in-depth analysis of statistical data coupled with research from our client base to aid in determining important factors such as reasonable ramp-up time before stabilization.
Our in-person evaluation of the subject hotel’s destination and years of experience staying in and analyzing comparable hotels provides a solid foundation to recommend the features, services, amenities and reservation systems a boutique hotel will need to be competitive.
Many boutique hotels are an adaptive re-use of an existing building and the building’s former use and features add character to the boutique hotel experience. The Highland Group has decades of creative experience with hotel’s converted from a wide range of prior uses including a funeral home, hospital, prison, bank and a courthouse.