Hospitality Experience
Luxury Resort Feasibility Study and Operator Evaluation
Horwath HTL was retained by a Hong Kong property to undertake a feasibility study for a resort development project in Hanazono resort, Niseko including hotel and condotel components.
Project Scope
We were retained by a Hong Kong property group to conduct a feasibility study and operator evaluation for a resort development project at Hanazono Resort, Niseko. The project included hotel and condotel components, aiming to capitalise on Niseko’s growing reputation as a premier ski and leisure destination.
The feasibility study began with a detailed market analysis, assessing regional and international demand drivers, seasonal tourism trends, and competitive benchmarks within the luxury resort segment. We analysed key factors such as skier visitation patterns, the rise in year-round tourism, and the growing appeal of Niseko among high-net-worth individuals and international travellers. This provided a foundation for determining the potential positioning and scale of the development.
A comprehensive site analysis was conducted to evaluate the advantages and constraints of the proposed location, including its proximity to ski facilities, accessibility, and surrounding amenities. Financial modelling was developed to project potential revenues and operating costs for both the hotel and condotel components, incorporating sensitivity analyses to account for variable market conditions and seasonal fluctuations.
Parallel to the feasibility study, we conducted an operator evaluation to identify a suitable brand that could enhance the development’s appeal and maximise its market potential. This process included identifying key operator criteria, assessing brand alignment with the project’s target demographic, and reviewing the operational expertise of potential partners. Recommendations were based on a detailed evaluation of each operator’s financial terms, management capabilities, and alignment with the client’s strategic objectives.
The final report provided a robust feasibility analysis and operator recommendation, equipping the client with clear insights and actionable steps to ensure the success of the development in a highly competitive market.
