Hospitality Experience
Proposed Hotel for the Living City Project
Market Demand Analysis
We were requested to provide a report evaluating the success factors for hotel development in a significant urban redevelopment project in Tasmania’s North West region.
Project Scope
Horwath HTL was engaged to conduct a market demand analysis for a proposed hotel within the Living City Project, a transformative urban redevelopment initiative in Tasmania’s North West region. The objective was to evaluate the critical success factors for hotel development, ensuring alignment with the broader objectives of the Living City Project and local market dynamics.
The analysis began with an assessment of the regional economic and tourism landscape, focusing on key drivers such as population growth, infrastructure investment, and visitor trends. Particular attention was paid to the strategic role of the Living City Project in revitalising the area and attracting new tourism and business opportunities.
Our team examined local and regional demand for accommodation, segmenting potential markets such as corporate travellers, leisure visitors, and event attendees. This involved reviewing historical data, analysing visitor demographics, and forecasting future demand trends based on the region’s anticipated economic growth and development initiatives.
A competitive analysis was conducted to evaluate existing accommodation offerings in the area, identifying gaps and opportunities for the proposed hotel to differentiate itself. Factors such as pricing, service standards, and target market alignment were explored to ensure the proposed development could achieve a competitive edge.
The final deliverable was a comprehensive report detailing the market demand analysis, success factors, and strategic recommendations for the proposed hotel. These recommendations included insights into optimal positioning, room mix, and amenities to meet market expectations and leverage the Living City Project’s potential as a catalyst for growth.
This engagement provided actionable insights to guide the client’s decision-making process, ensuring the hotel development would contribute to the success of the Living City Project and support the long-term economic and tourism objectives of Tasmania’s North West region.
