Definition of sources of demand in terms of local market specifics (local /international, tourism / corporate, tour groups etc.) is one of the most important tools in supporting the financial projections of the proposed hotel’s activity.

Among the first steps that the developer of a new hotel must take is to prepare a market study and financial projections. The market study can provide the client with information regarding the economic climate of a market area for new hotel development. It defines the supply of and demand for hotel accommodation in the given market as well as for the existing or proposed hotel. Further, it identifies the segmentation of demand, the primary and secondary competitors of the existing and/or proposed hotel.

The information collected from the respective market is carefully screened with the purpose of revealing sources of demand for accommodation of the designated hotel and determining the appropriate positioning of the hotel.

Within the framework of each commissioned study, Bevelia Hospitality applies particular care in assessing the project site. The site analysis includes a detailed description-size, boundaries, topography, visibility, accessibility, and suitability for hotel use.