The highest and best-use concept for a reconstruction of the midscale hotel

THE SITUATION

Our client is one of the most reputable construction companies in Croatia, which owns the outdated hotel in the continental part of Croatia. They invited us to propose the best-use concept for the hotel's reconstruction and develop a market strategy for the hotel.

THE APPROACH

Our multidisciplinary team with market, operational, technical, architectural and financial expertise has approached the assignment in the following way:

We started with the assessment of the site and conducted the technical audit of the property, identifying various technical possibilities for reconstruction. Having in mind the destination features, we proposed hotel be positioned as a midscale city hotel.

We conducted thorough market and competitive analyses and assessed a market outlook. Based on this, we evaluated the market and business potential of the hotel and provided the highest and best use of the property.

Within the market and business strategy, we developed the experience scope, proposed branding and operational model, created the financial projections and evaluated the project feasibility.

THE RESULTS

• Highest and best-use which optimises hotel product in terms of market outlook, destination profile and feasibility of investment
• Optimised market strategy
• Impartial analysis of project feasibility