|
"Understanding FeasibilityConsulting Firms Experienced in Making
<br /> iiitudies" Available from El
<br /> Much of the material presented in this
<br /> chapter was adapted from"Understand
<br /> Market Demand Studies for Hotels*
<br /> Pannell Kerr Forster,420 Lexington Avenue, New York, NY 10170 —(212)867-8000
<br /> Stephen W. Brener Associates, Inc., 420 Lexington Avenue, New York, NY 10170
<br /> ing Feasibility Studies;'published by the — (212) 689-6800
<br /> AH&MA Educational Institute in 1985 Laventhol & Horwath, 919 Third Avenue, New York, NY 10022 — (212) 980-3100
<br /> and authored by Rocco Angelo. The Peat. Marwick, Mitchell& Co.,345 Park Avenue, New York, NY 10022—(212) 758-
<br /> book is available from the Institute at 9700
<br /> East Lansing, Mich. (517-353-5500) for
<br /> Real Estate Research Corporation, 72 Wesi Adams Street, Chicago. IL 60603 —
<br /> $12 95. _ _ (312) 346-5885
<br /> i - Hospitality Valuation Services, 373 Willis Avenue. Mineola. NY 11501 —(516) 248-
<br /> unrelated to the area's population, then 8828
<br /> j population trends are not particularly Sig- 'Due to space limitations, this list is incomplete •
<br /> nifieant. if. on the other hand, area polity. -- .- - .. -.. _ ----___-___
<br /> lotion trends are crucial to the success ---------- ------ — —
<br /> of food, beverage and other facilities in —1
<br /> the proposed hotel, then population sta_ Where to Get Information on
<br /> tkiirs can he of prime importance. Population and Demographics
<br /> Assume that you are making a market
<br /> Marty for a hotel project. You should Sales and Marketing Management
<br /> ,•perk to see that your consultant New York, NY
<br /> presents you with the most current in- 212/986-4800 ,
<br /> formation available at the time of the Ask for SURVEY OF BUYING POWER ($65)
<br /> sturdy. Good population projections can be American Demographics Institute
<br /> Gond in such magazines as .Sales and Ithaca, New York
<br /> .11,n•heling ,Management and American 800/828-1133
<br /> lir/7/r�rrahhiec Members ($285/year dues) are allowed access to the Institute's vast statistical
<br /> collection. Contact Donna Wenner.
<br /> (Note box insert listing courses of in- Statistical highlights are published in AMERICAN DEMOGRAPHICS ($48/year).
<br /> formation on population trends affecting Contact Michael Edmondson.
<br /> 0 your market.) Donnelley Marketing Information Services
<br /> ~icor consultant should present you Stamford, CT
<br /> with an analysis of population trends 800/527-3647
<br /> bothpositive and negative indicators -
<br /> g� Current year estimates with five-year projections for population, income and
<br /> that would affect the demand for the pro- employment available by zip-code and geographic areas. Report fees begin at$50.
<br /> posed hotel. Population Research Service
<br /> Austin, TX
<br /> INCOME 512/837-0135
<br /> 1987 ANNUAL U.S. SUMMARY REPORT ($36) cites April 1987 population and
<br /> income can he viewed as personal, lis- growth estimates for 332 metropolitan areas as well as cities over 100,000 popula-
<br /> posahle income (income after taxes), or tion.
<br /> 'f'scretionary income (income after taxes Woods & Poole Economics inc.
<br /> and necessities). You should find out what Washington, D.C.
<br /> kind of income the consultant used in a
<br /> 202/332-7111
<br /> feasibility report. Population statistics for 1970 to 2010 by age, race and sex; income and employment
<br /> if you plan moderately priced food ser- by county, state and metropolitan areas. Contact Sallie Poole.
<br /> ir•e, then disposable income would indi U.S. Bureau of Census
<br /> ate the potential for that service. if you Population Information Division
<br /> plan high-check-average operations, dis-
<br /> 301/763-5002
<br /> rr tionary income would provide a more State Office of Demographics and Economic Analysis(sometimes called the Divi-
<br /> sion of Research and Statistics)
<br /> accurate barometer. Found in the governmental pages under the state name
<br /> income paired with population gives a - - -- — — — -- — — — —...
<br /> more precise market potential base for
<br /> a hotel's facilities and services than does influence the use of facilities and ment for the site and area, the hotel
<br /> population Youshould expect your services of the hotel. might have to compete for staff with coni-
<br /> c ( iian.iu'm alone. ,.,u ,..,p^{' .,..,
<br /> nnnitant to analyze and interpret these Miley may indicate conditions affect- merc•ial or industrial employers that have
<br /> relationships. ing the availability of employees. relatively high wage scales.
<br /> (See "Source's of information on Your CI)An ex;iininatio(1 of employment by If the market sturdy finds strong union
<br /> Area and i,rrcal Market'' for reference sector (service. nranufacttiring, agreements. the consultant should aria-
<br /> materials on income).40
<br /> etc.) can help define lyze their effects on labor costs (see
<br /> the overall economic environment ''Sources of information'').
<br /> EMPLOYMENT the hotel can operate in. additional
<br /> ly, examination of historical trends RETAIL SALES
<br /> Employment statistics are valuable indi- in total employment may help deter-
<br /> , •rtors of economic strength or weakness mine the stability of the market the Retail sales statistics perform 1w,
<br /> in three ways: hotel may operate in. major functions in revealing the market:
<br /> ill They may reveal factors that would if the study shows near full employ- Continuo' on nr.rl rage
<br /> T ,:arty,-'\Tnt•rtrnco IOQ'' ')'1
<br />
|