Hospitality Experience

Market Research & Financial Feasibility Study for a wellness hotel

Conducted market research, feasibility analysis, and concept development for a wellness hotel/retreat project in southeastern Cyprus, near the Cape Greco National Park. The project envisioned a property with 70 to 100 keys and 30 to 60 residences, spanning approximately 15,000 to 17,500 square meters of built-up area, located in Ayia Napa, Cyprus.


Project scope

Horwath HTL was engaged to conduct market research, financial feasibility analysis, and concept development for a proposed wellness hotel and retreat project in southeastern Cyprus, near the Cape Greco National Park. Situated in the vibrant area of Ayia Napa, the project envisioned a boutique property offering 70 to 100 hotel keys and 30 to 60 residences, with a total built-up area of approximately 15,000 to 17,500 square meters.

The engagement commenced with an in-depth market analysis to evaluate the potential for a wellness-focused property in the region. Cape Greco’s stunning natural surroundings and its proximity to the popular Ayia Napa resort town presented an ideal opportunity to create a destination catering to both local and international wellness travellers. The analysis highlighted key demand drivers, including the rising appeal of wellness tourism, the region’s year-round pleasant climate, and its accessibility from major European markets.

Competitive benchmarking provided insights into market positioning, service offerings, and pricing strategies. This exercise identified gaps in the local hospitality landscape, particularly the absence of high-quality wellness retreats that blend luxury accommodations with holistic health and well-being experiences.

The concept development phase focused on creating a wellness-focused design and service strategy tailored to the target market. Recommendations included integrating cutting-edge spa facilities, mindfulness and fitness programs, and nutrition-focused dining options. The inclusion of private residences was proposed to enhance the project’s value proposition, appealing to high-net-worth individuals seeking exclusive and extended wellness stays.

The financial feasibility analysis included revenue projections, cost estimates, and profitability assessments for the hotel and residences. This detailed modelling provided the client with a comprehensive understanding of the project’s potential return on investment under varying scenarios.

Horwath HTL’s expertise ensured the development was well-positioned to capitalize on southeastern Cyprus’s growing appeal as a wellness destination. The strategic recommendations delivered a clear pathway for creating a distinctive and successful wellness hotel and retreat, leveraging the unique attributes of Ayia Napa and the surrounding Cape Greco National Park.

Hospitality
Strategy and Planning
Assets

Project Location

Ayia Napa, Cyprus


Health & Wellness Office

Health & Wellness office


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