Mixed-Use Hotel Development Presentation
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Transcript of Mixed-Use Hotel Development Presentation
![Page 1: Mixed-Use Hotel Development Presentation](https://reader033.fdocuments.in/reader033/viewer/2022061202/547b424eb4af9f9b528b45e1/html5/thumbnails/1.jpg)
DON’T GET MIXED UP WITH MIXED USE
•Benefits & challenges of a hotel in mixed use development•Case study of hotel campaign within mixed use development•Showcase of hotel performance within mixed use development
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GROWTH ATTRACTIONS OF HOTELS IN MIXED-USE
•Unused bulk to develop hotel•Prime location & ample parking •24/7 security, safe environment•Variety of restaurants & bars •Funding easier in mixed-use•Hotel becomes “biz hub” •Easy access to shopping mall •Ideal for limited service hotel•Inexpensive infrastructure
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LEGAL AND DEAL STRUCTURES ARE KEY
•Ownership considerations•Liability considerations•Insurance considerations•Management considerations•Operational standards•Need of body corporate •Estate management functions•Sharing of utility costs
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OWNERSHIP OF HOTEL
•Smart mixed use owners develop and own hotel•Locate potential buyers once hotel is stabilized •Cash-in on full value created
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INGREDIENTS NEEDED FOR SUCCESSFUL HOTEL IN MIXED-USE DEVELOPMENT
•No fixed formula•Each market is unique •Understand your market •Do marketing feasibility study •Difference in urban & suburban markets
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SUCCESS RECIPE OF MIXED USE HOTEL DEVELOPMENT
Create touch stones such as:•Lifestyle & integration•Life-Work-Play environment •Art, design, fashion elements•Street café, deli, wine bar•Rev/PAR premium of 50% >
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MISCONCEPTIONS OF OWNERS WHEN ADDING A HOTEL
•Need to contract international hotel brand•Don’t worry, hotel brand will provide ALL technical services •Hotel Brand will EVEN add equity•Handover Hotel Development to 3rd party – we DON’T know Hotels
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MORE MISCONCEPTIONS….
•Hotels are different, but MY current team can handle it•We should have a Hotel in ALL of our mixed use developments•Hotels are just like OTHER anchor tenants
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MARKETING & BRANDING CAMPAIGN CASE STUDY: GATEWAY HOTEL & THEATRE OF SHOPPING, DURBAN
•3* hotel 146 rooms, conf. for 350•9 hotels with >1300 rooms in node •180,000sqm mall & 10,000 car parks•1.3m visitors per month•70 restaurants & bars •25 movie houses•Wave House: Entertainment - Sport - Lifestyle venue
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SHOW CASE OF HOTEL PERFOMANCE IN MIXED USE: MANDELA RHODES PLACE HOTEL & SPA - CAPE TOWN
•19,000sqm development, 300 car parks•4*Hotel - 179 apartments, conf. for 80•85 apartments in rental pool wit 7% ROI •2500sqm of office & retail facilities •4 restaurants and bars•Stay - relax - network - taste - explore
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CONCLUSION
•Hotel/retail combos are powerful•To marry hotel & retail elements has benefits & dangers •Owners often don’t know what they don’t know about hotels•Understand culture differences between hotels and shopping malls•Hire experienced hotel & retail teams