Hotel Market Appraisal and Feasibility and subsequent Strategic Business Review
Coventry, UK
Assignment
As part of their ongoing business expansion the owners and management of Ricoh Arena sought independent input to the feasibility of a new hotel to complement the Doubletree by Hilton already on site. This site was part owned by the local council and a business case needed to be made to support the case for the use and acquisition of the car park site identified for hotel use.Independent input was also required in an additional assignment for the longer term future development proposals that involved an assessment of improvements and expansion of the Exhibition/Conference and Accommodation provision as the site develops further as a Stadium/Exhibition/Confernce Hotel destination of bothnational international significance.
Our role
We provided an independent market appraisal of the Coventry hotel market and assessment of the potential to develop a second hotel on site with recommendations as to standard and branding. This was followed by working alongside the management team in a further review of the potential to expand Accommodation and Exhibition/Conference provision in a longer term business plan in which we assessed the brand options and market positioning that would best complement the destination opportunity.
Outcome
Our market appraisal and feasibility formed part of a process aimed at obtaining planning permission that was obtained (2020) for a Hampton by Hilton Hotel. Plans for its development are now underway. The subsequent Business review forms part of future plans for expansion of the wider business that are also undergoing further analysis and consideration.
