Ask the following questions before you start the project:
What is the objective?
What needs to be communicated?
What is the product offering?
How much does it cost?
How to remain profitable?
Plan for the next 5-10 years?
Is exit an option/goal?
What types of operations?
Where to start?
Market & Feasibility Study
Make sense of the investment and market
Analysis of the feasibility of the project with holistic approach to understand the market, the science behind operation and investment. The feasibility is to help clients answer: Can we do it? What to do? How to do it?
Operator Selection & Contract Negotiation
Right brand and right partnership
Hotel management agreement(s), HMA can easily extend to over 20 years, which is a very long commitment. Having the right control and prior understanding of one's responsibilities are very important to a healthy and long-lasting relationship.