We pick the brains of 3 different experts on how to approach resort developments in order to make a profit. They are:
Bill Barnett (BB) – Managing Director of C9 Hotelworks
Miles Fenley (MF) – Director of Montpelier Estates (Asia Pacific)
Sr Low Han Hoe (LHH) – Senior Manager (Investment & Agency) at Nawawi Tie Leung Real Estate Consultants Sdn Bhd
Text & Photography by Jan Yong
1. What are the most important criteria to build a profitable resort?
BB: Understanding both the existing hotel marketplace including details such as historical operating data such as occupancy, actual average rates and profit levels, and developing a forward look of the marketplace. Feasibility is the first stepping stone, followed by logical steps of deeply looking at the market and what opportunities exist for a sustainable new project coming onstream.
MF: Choice of destination (year round), access, masterplan/business plan, design, availability of land, building permits, qualified personnel, resources, excellent management, right product to the right market, capital, funding, infrastructure, common sense, and local knowledge.
LHH: Getting the Master Plan done based on solid market lead research and the Target Market identified correctly.