Resort Development Analysis – Central America
The Concord Group was asked by one of the world’s largest hospitality operators to define a strategic development program for a 5-star resort with hotel-branded residences in Central America. The operator faced numerous challenges, including heavy competition for tourists and vacation home owners, difficult site access, and the unfamiliar concept of hotel-branded residential communities.
Crucial to the success of this development was an accurate understanding of the target market, including consumer preferences, lifestyle choices and travel habits. We orchestrated an exhaustive primary-source market study that revealed sales trends, comparable hotel property statistics, and premiums for hotel branded residences over standard condos. We also produced a comprehensive analysis of annual residential demand in the region, highlighting the segment of that demand that our client’s site would need to capture. Our incisive primary and secondary research, contacts in Central America and in the broader resort development community, and experience in the region ensured that the project’s opportunities and challenges were thoroughly understood.
We developed a strategy to differentiate the project from current and future competition, attract the target audience to the client’s planned resort and drive sales of its associated residences. The results of our analysis were key inputs into the community land planning, the client’s negotiations with the land owner, and the deal structure with its financial partners.