OverviewDeveloping a business plan for an existing business or conducting a feasibility study for a new hospitality business enterprise requires a thorough analysis of market conditions.
Market circumstances in your existing or proposed area have a significant influence on the potential profitability of your hotel, restaurant, club, spa or other hospitality business. The relative strength of the local market affects how many guests or customers are available and looking for service, what percentage of the market you can capture and serve, and at what level of price they will be willing and able to pay.
These reference materials will help you scrutinize your existing or potential marketplace, so that you can judge the financial potential of your hospitality business and make more informed investment decisions on the ROI and operating costs.
AuthorsDr. John J. Hogan, CHE, CHA, CMHS, HoganHospitality.com
Self Study Credit - OnDemand WebinarCPE1.5AL, TX
© 2013 Lorman Education Services