Golf Course Market Analysis and Financial Feasibility Study

Assess the likely operating performance of a mixed-use development comprised of an upscale hotel, residential units and apartments located on the site of the Kigali Golf Course.


Project Scope

Horwath HTL was engaged to conduct a market analysis and financial feasibility study for a proposed mixed-use development on the site of the Kigali Golf Course. The project encompassed the development of a 150-room 5-star hotel featuring a wellness centre, spa, and meeting and conference facilities, along with 204 residential units and 96 apartments. The proposed concept aimed to leverage Kigali’s growing appeal as a business and leisure destination while enhancing the city’s luxury hospitality offerings.

The market analysis involved an in-depth assessment of Kigali’s hospitality and real estate markets, including supply and demand trends, competitive positioning, and market dynamics for upscale hotels and residential developments. It also explored demand drivers, such as business travel, tourism, and expatriate housing, to identify key opportunities and risks associated with the project.

The financial feasibility study provided an indicative assessment of the investment opportunity. This included projections of the likely operating performance of the hotel, revenue and absorption rates for the residential units and apartments, and the overall financial viability of the development. Sensitivity analyses were conducted to evaluate the impact of various market scenarios on the project’s anticipated returns.

The findings equipped the Client with a detailed understanding of the market potential and financial implications of the proposed mixed-use development. This analysis served as a critical decision-making tool, enabling the Client to align the development concept with prevailing market opportunities and optimize their investment strategy.

4o
Hospitality
Strategy and Planning
Assets

Project Location

Kigali, Rwanda


South Africa Office

South Africa office


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