Fun Park Biograd, Croatia
Office: Horwath HTL Croatia
Project Overview: The investor in the construction of this fun park intended to offer value added tourism products in the entertainment segment. The investor vison was to combine his expertise and involvement in the entertainment industry with idnetifed need for added value projects in the region. Horwath HTL task was to determine and provide an independent opinion about the project market and to help in determining the project feasibility.
Horwath HTL Solution: Based on the technical proposal of renowned Fun park planners Bausaa architects, Horwath HTL Croatia has concentrated its efforts in order to determine the market potential of such a project and to identify the market readiness for such a product in this region.
Horwath HTL was in charge of Business Plan that comprised of the following:
- Objective market potential estimation based on the thorough analyses of regional purchasing power, tourism arrivals, benchmark analysis and global competitiveness of the park;
- Assessment of the number of guests and consumer spending;
- Park development phasing strategy in line with the perceived market potential and planned marketing efforts;
- Management model for park development;
- Financial projections including investment estimates, P&L and CF projections, financial feasibility estimations and estimation of economic effects;
- Support in the negotiation with financing partners.
Implementation: Based on the market findings and report recommendations, the investor has amended the project components and adjusted project phasing. The project financing has been approved and the investor is currently in the process of starting the construction. Project opening has been planned for 2017, and it is considered as the first professionally developed fun park in this region.