Destination Thermal Spa

Scope of Work:

Horwath provided consulting services consisting of a full market study, financial projections and market valuation of a large urban wellness park that included a destination thermal wellness component, a 60-room hotel, thematic food and beverage outlets, and meeting facilities, among others.

The market study consisted of the analysis of the competitive resort hotel inventory as well as a review of not only competitive spa facilities but also of Canadian, European, American and Latin American thermal spas.

Waterfront Thalasso-Spa Hotel


Horwath provided asset management services that were based on the ongoing relationships between the Horwath team, the Owner and Owner’s management teams.  The objective was to optimize the asset’s financial performance over the mid to long-term, effectively concluding in a successful sale of the property.

Scope of Work:

Our services included operational assessments, monthly operating performance report, monthly owner meetings, strategic asset management plan, review of annual marketing plans and budgets, financial performance analysis, competitive analysis, and sales and marketing effectiveness, among others.

Proposed Hotel & Indoor Waterpark

Scope of Work:

Horwath HTL was mandated to undertake a market study with financial projections and real estate appraisal for a proposed resort hotel with indoor water-park to be annexed to an existing outdoor water-park and winter amusement park.

Luxury Resort

Scope of Work:

Horwath HTL was mandated to undertake an estimate of market value for a 5-star luxury resort hotel located on leased land within the internationally renowned Rocky Mountains in Banff, Alberta.  Horwath HTL also coordinated the due diligence process, including the building condition assessment, financial transaction services, and pre-offer legal services.