Following the receipt of a business plan setting out the option of expanding the business at this iconic cricket venue the Ageas Bowl (formerly the RoseBowl) cricket ground near Southampton sought to develop a hotel and press facilities to expand their core business and attract international cricket matches.
Eastleigh Borough Council, recognising the importance of the stadium as an important regional tourism asset supported this aim in making the hotel project viable and providing finance for the sale and leaseback of the stadium itself.
Our role initially provided a review of the independently prepared hotel feasibility study followed by commercial due diligence in subsequent stages through working alongside EBC's professional team and Stadium management to progress the hotel project. This included considering the relationship between hotel and stadium, appointing an operator choosing a franchise and coordinating other input including an economic tourism assessment.
The Hilton Hotel is now open and trading after many challenges in its 2 year+ gestation and this remains a unique project in the nature of the support EBC provided to the development of the hotel.
A subsequent stage of work was to assess the hotels trading against the original assumptions adopted in the financing . This involved anlaysing trading patterns, understanding the changes that had taken place at the hotel over time and new market conditions.