Description of the Project
The client intended to acquire a portfolio of Assets in China. Horwath HTL was involved to conduct an independent assessment with a focus on benchmarking the Subject Assets’ performances against their respective competitors and further recommend on their respective asset values. Horwath HTL also assisted in the review of the current management agreements.
Scope of Work
- Market overview of the target city.
- Competitive and comparable market benchmarking.
- Existing property benchmarking.
- Financial projections and opinion of value.
- Transaction data analysis.
- Current management agreements commercial terms review.
Scope of Work
Horwath HTL was engaged by the developer to conduct the destination masterplan study for approximately 500 square kilometers around the Dabie Mountain region in Anhui Province. The study included zoning, land development strategy and financial projections for different components of this massive destination, which included recommendations such as hot spring, wellness facilities, various lodging products and food and beverage outlets, as well as all season outdoor programs and activities.
Description of the Outdoor Project
The outdoor project site within this masterplan study stretches across 200 acres with hot spring resources and unobstructed mountain views. Horwath HTL was responsible for the market study, best land-use planning, lodging site selection and recommendations of number, sizing and mix for the lodging products and its supporting facilities.
The challenge of this project was balancing a reasonable development of the local resources and the protection of the ecosystems. In addition, since the nearest provincial capital city is three-hours’ drive away, the focal points and attractiveness of the programs, activities and lodging products are critical to the success of this project to draw demand.
The project opened in 2017 with a total investment of RMB 1.5 billion. According to Horwath HTL recommendations, the project adopted a minimum footprint development strategy with themed lodging products of tents and yurts.
Scope of Work: The Shanghai office prepared written market research report and detailed SWOT analysis for the Client, including artist renditions of sustainable construction standards, development zoning scheme, recommended transportation infrastructure, and phasing strategy. In addition, comparable destination case studies both inside China and internationally were identified for their best development practices.
Description of Project: Develop an executable 10-year tourism development plan for a 3,000km2 area including the Changbai Mountain UNESCO Biosphere Reserve in China’s Jilin province including the development of diverse outdoor and indoor recreational activities, multiple resort hotels, and the effective integration of future transportation infrastructure with access to tourist attractions. Identify land parcels available for adaptive reuse that could be used to attract investors to develop resorts and other tourism facilities.
Project Status: Resort officially opened in 2012.