During planning and development, an experienced hotel consultant can bring significant value to the project, especially if considering self-management of the property or before discussions with an international hotel operator.
Given that in identifying the hotel market opportunity, the developer has local market knowledge, direction regarding the type and sector of the property may already be evident. In this case it may be efficient in time and cost to contact hotel operators directly and bypass, for the moment at least, the need for a hotel consultant to source the hotel operator. The contact details for most hotel operators are freely available, ordinarily by following the links via the section marked “development” at the footer of the operator’s main website or searching with the operator or brand name + “development” into a search engine.
Nevertheless, some operators may compel or recommend the engagement of a hotel consultant, especially if the project is deemed marginal or the operator is not familiar with the specific market. If the project team does not have an experienced hotelier, then it may be worth engaging a locally based hotel consultant, but it is essential to ensure they have proven experience working with international hotel new build developments, not that they merely held operational or supervisory positions in hotels.
Even with an identified brand and management structure appropriate for the property, a hotel consultant experienced in the regional market can still bring value in the commercial negotiation of the head of terms. The consultant can speed up the process by giving confidence in understanding the practical complexities and implications of the terms of the agreement, which can be formidable not least because of the long-term commitment of most management and licence agreements.
What can a hotel consultant do for me?
When should I engage a hotel consultant?