Feasibility Study On The Hotel Industry

3169 words - 13 pages

Feasibility Study on the Hotel industryTable of contents1. Introduction ................................................................................................... 32. Executive summary ....................................................................................... 33. Area Review ................................................................................................... 44. Site Review ..................................................................................................... 55. Supply and demand ...................................................................................... 76. Projected year end performance based on the market, conslusions ...view middle of the document...

There are a few competitors nearby, but they do notoffer good quality and low prices at the same time, what PayableLuxury Ltd. had in mind.Finding the nieche in the area, running a wine-bar-like restaurant will increase the popularityand the income of the establishment. The French prefer to go to wine bars and find it trendy4(Lobrano, 2011). It is crucial to run a full house each day to balance the investment of thehotel. However, looking at accomodations at Paris, a lot of other places can offer better prices,this is why emphasizing the location and the quality is crucial. Staying or dining at the hotelwould be considered a good deal, and would leave a positive impression on the customers.3. Area ReviewThe city of Paris is the capital of France. The population of the city is a little morethan 2 182 000. (A view on cities, 2004) Paris has three major airports receiving flights fromall over the world. Charles de Gaulle airport is one of the most busy airports of Europe.(Flight stats online, 2013) It is located approximately 23 kilometers from Paris and can beaccesed by public transportation, shuttles, airport buses and taxis as well. Paris' other twoairports, Orly and Beauvais mostly receive economic flights. Paris also have a very developedpublic transportation, therefore getting by in the city should not be a problem for any visitorsor locals. According to Forbes, Paris is the second most visited city of the world in 2012, afterLondon. (Forbes, 2013) A small decline of 0,6% is shown, but an estimated 16 million willvisit in 2013, likely to spend $17,8 billion. (Forbes, 2013) The avarage lenght of stay pervisitor is 6.1 days in France. (Encyclopedia of the Nations, 2007) The downside is that Parishas one of the biggest accomodation capacity in Europe. (European Commission: Eurostat,2011)The exact location of the hotelwould be on 19 Boulevard desCapucines, in the 9th discrits of Paris,called The Opera Disctrict. However it iscloser, actually is in walking distance tothe 1st disctrict which is the center of5Paris with sights like Place Vendome, Musée de Louvre, Jardin des Tuileries. The Opera areais located in the 2nd and 9th districts, its center is the Palais Garnier Opera, which is highlyvisited by tourists and is still operating as an opera house. This is also the main shopping areaof Paris, Galeries Lafayette and Printemps, the two major department strores are located nearBoulevard Haussmann representing the elegant Art Nouveau style. (Tripadvisor, 2013) Thisarea also gives place to a wide range of other brands, too. The most characteristic features arethe cafes, reastaurants, theaters and luxury boutiques. With Place Vendome near by, hostingits fine jewelry boutiques and giving a location to the Ritz Hotel, the place really gives aluxurios insight of the world of the rich and famous. There are several offices and businesscenters near this specific locations. There are two metro stations nearby: Opéra, Chausséed'Antin -...

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