Radisson Blu Accra Hotel
Office: Horwath HTL South Africa
Project Overview: The client was contemplating the development of a business hotel situated on High Street in the capital city of Ghana. Upon completion the hotel is envisioned to comprise approximately 136 guestrooms, 12 suites, 20 apartments, food & beverage outlets and conference facilities. In addition, the client wished to enter into a management agreement with an international brand.
Horwath HTL Solution: We recommended a full Market Analysis and Financial Feasibility Study to see whether the proposed solution was viable and right for the market. Using the Horwath HTL feasibility template, we examined the market conditions, using competitive set analysis. We carried out a site analysis and looked at the facility recommendations. We projected supply and demand data for the and estimated pricing for the property. We also provide and investment analysis and operating cash flow analysis. Lastly, Horwath HTL includes a chapter on sustainable hotel development as standard in all our reports.
The client wanted an international brand attached, in this case particularly Radisson Blu. We then undertook a property Management Agreement Review and Negotiation with Carlson Rezidor to manage the proposed hotel under the Radisson Blu brand. We then negotiated the commercial terms of the management agreement on behalf of our Client.
Implementation: Subsequent to our study, our Client secured a second site at Accra’s Kotoka International Airport, which is likely to be the site of this proposed hotel. Financing is in place and construction is anticipated.