Developers and investors often ask, “How to choose a hotel consultant?” when planning a new hotel project or evaluating an existing asset. Hotel consultants play an important role in feasibility analysis, operator selection, development planning and investment strategy, but their experience and capabilities can vary significantly. Some consultants operate within specialised hospitality advisory firms, while others are embedded within global real estate consultancies or work independently, with strong regional expertise.
Choosing the right hotel consultant requires careful consideration of their market presence, relevant experience and independence, as well as the credibility of their work with investors, lenders and hotel operators.
Types of Hotel Consultants
A hotel consultant is an independent advisor who assists hotel developers, investors and owners during the planning, development and operational stages of a hotel project. Consultants typically provide services such as feasibility analysis, business planning, operator selection, and development advisory services.
Their role is to bring specialist hospitality knowledge into the project team and provide an impartial perspective on market opportunity, project viability and the commercial implications of agreements with hotel operators.
There are various options for hotel consultants, including:
- Specialised international hotel consultants (such as Horwath HTL, HVS, PKF hotelexperts),
- Global real estate consultants with embedded hotel teams (such as CBRE Group, Christie & Co, Colliers International, Cushman & Wakefield, EY, JLL, Knight Frank),
- Local hotel consulting firms and private individuals with extensive experience in the regional hotel market.
Criteria for Selecting a Hotel Consultant
The following points should help determine the most appropriate hotel consultant for the project:
Presence
When evaluating a hotel consultant, one of the first considerations is their professional presence in the market. Does the consultant have substantial regional or national resources focused specifically on hotels? Large advisory firms may have multiple specialists covering feasibility, valuation, and development advisory services, while smaller firms may rely on the expertise of a few senior individuals.
Understanding the depth of resources available within the local office can help determine whether the consultant has sufficient capacity and specialist expertise to support the project effectively.
Be sure to ask, “How many personnel are dedicated explicitly to hotel real estate in the local office?”
Experience
Experience should be assessed not only in terms of the consultant’s years in the industry, but also the relevance of their past projects to the specific hotel development being considered. A consultant who has extensive experience with urban business hotels may not necessarily have the same expertise in resort developments, mixed-use projects or extended-stay properties.
Developers should request an up-to-date project list or project statement to understand the consultant’s track record and ensure that their experience aligns with the proposed hotel sector and geographic market.
Request an up to date project statement and ensure the practical background knowledge covers the project’s particular hotel sector.
Market Knowledge
A strong hotel consultant should demonstrate active engagement with the regional hotel market. This may include regularly publishing market reports, contributing industry commentary or maintaining active involvement in hospitality conferences and professional networks.
Developers should ask for recent market summaries, research publications or presentations that demonstrate the consultant’s understanding of supply, demand and performance trends in the relevant hotel market.
Search or ask for the latest market summary reports, published articles, or social media feeds.
Individual Consultant
In many consulting firms, the reputation of the organisation is supported by the expertise of a relatively small number of senior consultants. It is therefore important to understand who will actually be responsible for the project.
Developers should request the resume of the individual consultant or team assigned to the assignment, ensuring they have the appropriate education and experience in both hospitality operations and hotel real estate development.
Ask for summary resumes of the actual consultants to be assigned for your project and ensure they have education and experience in both hospitality and real estate.
Report Credibility
In many cases, hotel feasibility studies are required to support project financing. Lenders, institutional investors and hotel operators often rely on the credibility of the consultant producing the report.
Developers should ask which financial institutions, investors or hotel companies have previously accepted the consultant’s studies. Where possible, it can also be helpful to confirm directly with potential lenders whether the consultant’s reports meet their requirements.
Ask your financiers or potential hotel operator for their list of hotel consultants or the parameters needed for their feasibility study.
Conflict of Interest
Independence is an important consideration when selecting a hotel consultant. Some consultants may have formal or informal relationships with hotel operators, developers or service providers that could influence their recommendations.
Developers should request a written declaration of any affiliations that may create a conflict of interest, ensuring that the consultant’s advice remains impartial and aligned with the project’s best interests.
Ask the hotel consultant to declare in writing any affiliations which may constitute a conflict of interests.
Accreditation
If the consultant is expected to provide valuation services in addition to advisory work, professional accreditation becomes particularly important. In many markets, recognised certifications such as membership of the Royal Institution of Chartered Surveyors (RICS) or equivalent professional bodies may be required.
Accreditation provides reassurance that the consultant follows recognised professional standards in valuation and advisory work.
Ask specifically what hotel accreditations and qualifications the consultants have that will be assigned to your project?
Local Support Services
For projects that may involve self-management or franchising rather than a full management agreement with an international operator, local consulting expertise can be particularly valuable. A locally based consultant may be able to provide more practical operational support during the development and opening stages of the project.
In some cases, the consultant can be temporarily integrated into the development team to assist with operational planning, procurement processes or the establishment of the management structure, roles that larger international consulting firms may not typically undertake.
Ask whether the hotel consultant can integrate into your team to assist with pre-opening, commissioning, and operations.
Communicating with Investors and Lenders
In many hotel development projects, the consultant’s work will be reviewed by financial institutions, equity investors or hotel operators. A well-prepared feasibility study or advisory report should therefore be structured in a way that external stakeholders can understand and rely upon.
Developers may wish to consider whether the consultant has experience presenting findings to lenders, investors or project partners, and whether their reports are widely recognised within the hospitality investment community.
Ask whether the hotel consultants’ services include communicating and defending their findings with investors and lenders.
Cost and Scope of Services
The cost of engaging a hotel consultant can vary significantly depending on the scope of the assignment. Some consultants provide narrowly defined services, such as a feasibility study or market assessment, while others offer broader advisory support, including operator selection, development planning or assistance with negotiating management agreements.
Consulting proposals can sometimes be difficult to compare because different firms may include very different levels of research, analysis and reporting within their quoted fees. Developers should therefore request a clear description of the specific deliverables that will be provided and ask to review working examples of comparable reports or project outputs from previous assignments. This helps ensure that the consultant’s proposal provides the level of analysis and support required and allows consulting offers to be compared on a consistent basis.
Ask the consultant to clearly define the scope of work and expected deliverables for each stage of the assignment.
Availability and Engagement
Consulting assignments can sometimes fail when the senior consultant responsible for winning the project becomes less involved during execution. Developers should clarify how much time the lead consultant will dedicate to the project and how accessible they will be during the assignment.
Clear communication and regular interaction with the project team can be particularly important during feasibility analysis, operator selection and negotiations, when timely advice may influence important development decisions.
Check the Lead Consultant’s availability during the assignment
Final considerations when choosing a hotel consultant
Selecting the right hotel consultant can significantly impact the success of a hotel development project. Developers should look for a consultant with relevant experience, strong local market knowledge and a proven track record with lenders, investors and hotel operators. Independence and credibility are equally important, particularly when the consultant is advising on feasibility studies or negotiating agreements with hotel brands. A well-qualified consultant can help reduce risk, improve decision-making and ensure that the project is positioned effectively within the market.
Further Resources
See also:
HDG – Do I need a hotel consultant?
HDG – When should I engage a hotel consultant?
HDG – Links to hotel consultants
Hospitality Net – “Five Considerations in Hiring a Hospitality Consultant“