Market Study for Courtyard Colombo

Project Scope

Horwath HTL was engaged to conduct a comprehensive hotel market study with a specific focus on the boutique segment for the proposed Courtyard Colombo. The engagement included a detailed site analysis, redevelopment recommendations, and a prospective financial analysis to guide the project’s planning and strategic execution.

The market study began with an in-depth assessment of the hospitality landscape in Colombo, focusing on the growing demand for boutique hotels. This included an analysis of local and international visitor trends, competitive benchmarking, and identification of market gaps and opportunities within the boutique segment. The study explored the preferences of target demographics, highlighting the potential for a unique, upscale offering to cater to discerning travellers seeking personalised and intimate experiences.

The site analysis evaluated the proposed location’s suitability for boutique hotel development, considering factors such as accessibility, visibility, surrounding infrastructure, and its ability to offer a distinctive guest experience. Recommendations were made to enhance the site’s appeal and optimise its integration with the boutique hotel concept.

Redevelopment recommendations were tailored to align the property with market expectations while maintaining operational efficiency. These included suggestions for room design and configurations, bespoke food and beverage concepts, and curated facilities to deliver an authentic boutique experience. Emphasis was placed on creating a strong sense of place, leveraging Colombo’s cultural and historical influences.

The financial analysis provided a detailed projection of the property’s revenue potential, operational costs, and overall profitability. Multiple scenarios were modelled to evaluate risks and ensure robust financial planning. Key performance indicators such as return on investment and break-even timelines offered a clear understanding of the project’s economic viability.

Horwath HTL’s study provided the client with a strategic framework for the successful development and operation of the Courtyard Colombo, ensuring the property would thrive in Colombo’s competitive boutique hotel market.

Localisation du projet

Colombo, Sri Lanka