Overview:
As part of the acquisition due diligence support for IHG in acquiring the Six Senses Hotel Chain, we have not only assessed the market potential of the Six Senses Felicité Island Resort in the Seychelles, but also provided financial projections to establish its estimated future profit generating ability. During the process we have also looked at various scenarios as the resort had the potential to be extended by a number of residential villas. As a result of the global due diligence, IHG successfully acquired the Six Senses Hotel Chain in 2019.
Scope of Work:
Horwath HTL Global Network was commissioned to conduct the acquisition due diligence work required on behalf of IHG in their proposed acquisition of the Six Senses Hotel Chain. As part of this global engagement, Horwath HTL Hungary, was tasked to perform the due diligence of the Six Senses Felicité Island Resort, in the Seychelles.
Status: Project Completed in 2018
Overview:
Overview: Horwath HTL’s services rendered was to prepare a Best Use and Financial Feasibility Study for a Business Hotel Project in Geneva’s Organizations’ District. The client seeks complementing facilities to the existing property as well as optimized financial returns on the investment within a narrow set of parameters.
Solution:
Horwath HTL Switzerland prepared a full Market Analysis and Hotel Feasibility Study which included several scenarios in order to provide the best possible basis for decision-making. One of the proposed facility programmes was recently approved. For more info on this project, please check back again later.
Implementation:
The planning architects are currently seeking to maximize the development concept from their perspective. Horwath HTL will subsequently revise the financial projections accordingly.
Overview:
The developer is an entrepreneur who owns and operates a successful wellness-centric venture in the Netherlands, and wishes to create a wellness-, nature- and activity-driven destination on a seafront site at the edge of the Arctic Circle in Norway. The owner engaged Horwath HTL Health & Wellness to conduct a market research and feasibility analysis, evaluating the business potential of the project, develop a concept unique to the location, as well as provide support in establishing the phasing strategy for the development through the establishment of various financial scenarios and master plan layouts.
Solution:
In line with the owner’s vision and the serenity of the site, Horwath HTL Health & Wellness recommended the development of a wellness retreat focused on experiential stays through a simplicity-focused concept blending nature immersion, outdoor activities, heat and water experiences, mind & body practices, as well as a selection of treatments anchored in local healing modalities. The wellness retreat will include a variety of design-led accommodation types, catering to a wide spectrum of travelers, thus fostering a strong sense of community. The concept strategy developed by Horwath HTL Health & Wellness ensures that the final product will counteract the typically low demand volume expected during the winter in that region. Finally, in order to create the desired destination and experience, Horwath HTL Health & Wellness recommended a development strategy consisting of multiple construction phases that will together enable the owner to achieve their vision.
Status:
The project is currently in advanced planning stages and the first phase of the development is anticipated to be finalized and operational by early 2021.
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Overview: Deutsche Hypothekenbank AG commissioned Horwath HTL Netherlands to prepare a real estate valuation of the planned Kneuterdijk Hotel. Based on a detailed review of the chances of the future hotel in the market, our study concluded the Provisional Market Value of the real estate.
Overview:
The client owns several acres of land in the south of Serbia, approximately 340 kilometers from Belgrade, which features some of Europe’s hottest mineral springs. The client intends to develop a destination consisting of various establishments with a primary focus on bathing. Horwath HTL Health & Wellness was appointed to determine the individual wellness elements (anchors) that will form part of the destination, recommend a universal strategy, and conduct feasibilities for each anchor outlining the overall business potential of the destination.
Solution:
While Serbia is home to an abundance of unique mineral hot springs, Horwath HTL Health & Wellness’ market research demonstrated the absence of internationally-benchmarked and thermal spring-focused wellness destinations within the country. As such, Horwath HTL Health & Wellness proposed a selection of complementary anchors that include a lifestyle hotel, a wellness retreat, long-stay recovery apartments, residential real estate, an outdoor activity area, and a retail village. Capitalizing on the unique on-site hot springs, hydrotherapy and extensive heat and water facilities will be featured amongst all establishments of the destination. These are to be further complemented by dedicated wellness programs, mind and body activities, outdoor recreational sports, kid-friendly treatments and exercises, and healthy food and beverage outlets. In order to create a community-like feel, guests will be able to mingle and socialize in the retail village as well as at the outdoor activity area, thereby creating synergies and connections between the destination’s different anchors.
Status:
The project is currently in the planning stage and the first component is anticipated to be operational by 2023/2024
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Overview:
The client operates one of the leading wellness destinations in Europe, comprised of multiple hotels (midscale to luxury), dining outlets, spa and wellness facilities, a thermal bathing complex, medical and rehabilitation facilities, and golf courses. Horwath HTL Health & Wellness was appointed to examine, evaluate, and benchmark the resort’s spa and wellness facilities and recommend a revised health and wellness strategy that would allow the development to attract a new segment of wellness travellers and strengthen its competitive position in the regional market.
Solution:
Upon completion of a thorough operational analysis, Horwath HTL Health & Wellness proposed reconfiguring the spa and wellness facilities to allow for seamless transitions and enhanced guest journey within the health and wellness areas of the resort. Additionally, to combat challenges pertaining to the lack of cohesiveness in the overall resort offering and operations, Horwath HTL Health & Wellness made a series of marketing and management recommendations aimed at fostering synergies between different health and wellness platforms. By encouraging inter-departmental collaboration, the resort has the opportunity to introduce a broader spectrum of wellness programs and offer its guests an all-round wellness journey under one roof.
Status:
The project is currently operational and the renovation is anticipated to be completed by 2022/2023.
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Overview:
A developer proposed a lease for a luxury health resort project in Crans-Montana to an international operator. The operator is not yet present on the Swiss market, and, thus unfamiliar with the market forces and labour laws employed here. Horwath HTL was hired to providing insights on all relevant topics so the client would in the end be able to assess the economic viability of the project.
Solution:
We have thoroughly reviewed the Swiss Medical Wellness Tourism market, the competitive set, target market and target groups as well as their habits. Furthermore, our report delivered information on the CBA and customary salaries.
Implementation:
Contract negotiations are ongoing.
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Overview: Horwath HTL Spain was instructed by the buyer of the asset to prepare, on behalf of the buyers, a Fair Market Value of the company developing this 100-room luxury Hotel as part of Acquisition Due Diligence.
Immediately before the opening of the hotel, Horwath HTL Spain was instructed to carry out a market valuation of the hotel asset for the purposes of refinancing.
Overview: Horwath HTL Spain was instructed by an international bank to prepare a Market Value of a 241-key hotel as part of debt re-financing following acquisition by new owners and the decision to re-position the property under the Sofitel brand.
Overview: Horwath HTL was instructed to prepare on behalf of a bank a Market Valuation for lending purposes of a hotel portfolio with a combined 500+ bedrooms. The valuation was undertaken by the London office in cooperation with our offices in Austria and Croatia.
Solution: The portfolio comprised three operational hotels with a mix of historic period and more modern buildings, which between them held a dominant position in the local market for quality hotel rooms. At the time of the valuation the portfolio was owner operated. The valuation was more complex than usual due to the limited availability of historic financial data and the accounts not being fully compatible with international hotel accounting practices. In addition, there were a number of legacy issues in relation to the ownership of the assets, creating additional complications in the valuation proposal.
Implementation: Despite the unforeseen complications, our valuation was completed on time and we valued the total portfolio in excess of EUR 40 million.
Slovenia is an EU-member state with three globally distinct attributes of Alps, Mediterranean and Pannonia. However, over the last 25 years tourism sector was actively managed, leading to suboptimal utilization of tourism assets.
Scope of Work
Horwath HTL Croatia was appointed to deliver an action-driven tourism development strategy with strong focus on restructuring of hotel sector and modernization of the whole tourist experience on national level. In addition, tourism marketing strategy with digital marketing component was developed. We had the mission to define a sustainable tourism development strategy for Slovenian tourism until 2021, including following key segments:
- Market analysis
- Tourism value chain assessment
- Stakeholders mapping
- Benchmark analysis
- Strategy definition
- Strategy development of 6 key improvement areas:
- Experiential clustering and tourism products
- Institutional and legislative frame improvement
- Spatial, natural and cultural development strategy
- Investment strategy
- SME
- HR strategy
- Strategic marketing plan
- Action plan
Solution
The whole process identified over 90 actionable policies, measures and activities, ensuring focused and effective tourism development process. Strategy development process consisted of series of in-depth interviews and interactive workshops organized with leading industry stakeholders on national and destination level. Horwath HTL proposed following key solutions within the strategy:
- Experiential structuring of Slovenia in four regional clusters
- Definition of primary tourism products
- Privatization and restructuring of state-owned companies
- Development of key strategic projects and international investment market packages
- Improvement of tourism management and regulation system
- Strategic marketing recommendations related to branding, marketing and promotion.
Completion
Strategy is officially adopted by Slovenian Government as of October 2017, with ongoing active implementation of key measures.
Headquartered in Rovinj, Croatia – Maistra PLC. was established in March 2005, having inherited 50 years of experience in the tourism business. The company presently has 10 high quality hotels, 8 tourist resorts and 6 camps situated at prestigious locations in Rovinj and Vrsar, two Istrian tourist centres of exceptional natural and cultural/historic values. The total portfolio capacity amounts to nearly 34,000 guests, resulting in the figures of approximately 5 % of the tourist results of Croatia, and slightly more than 15 % of the tourist results of Istria. Horwath HTL was engaged to help transform the company into a clear cohesive brand that could compete with similar products on an international basis.
Scope of Work
The goal was to increase company-wide ROI and achieve international competitiveness across all their brands. In order to facilitate the change required internally, we supported Maistra in their strategic development by working with the existing management team to create effective international benchmarks combined with a strategic business plan over a 4-year period.
Outcome
Since 2011, there have been significant improvements in operating performances and quality standards. After the company stabilization, Horwath HTL has continued to provide strategic and operational support on an ongoing basis in order to support further growth of the company.