Spa Balance

Project Skill: Concept Design, Detailed Financial Projects, Spatial Distribution

The challenge:

Alsotel Hotels and Real Estate acquired a once emblematic hotel in an affluent staycation region. Their mission was to turn around the property and offer something truly different: a wellness lifestyle hotel. They wanted it to be the first hotel in that region to make wellbeing an integral part of its DNA, but the challenge they faced was two-fold: 1. they needed to change the market perception of the hotel and gain stakeholder buy-in, and 2. pitch the project to the right hotel operator.

The approach:

We started with the groundwork. We hired a specialist market study firm to conduct a detailed review of the market in the region, including the new projects that were in the pipeline. The nearby party town posed the opportunity to create a truly unique wellness destination which would allow the hotel to stand out in a meaningful way instead of getting lost in the sea of much of the same offering throughout the region. We wrote ambitious but realistic financial projections, taking into account the worst and best case scenarios. Armed with solid data to back the concept, the CEO was able to successfully pitch the concept to the Board and get the necessary stakeholder buy-in and funding to kick-off the project.

The outcome:

The investment firm successfully won a short-list of high-end operators who were interested to operate the new hotel, while also maintaining the integrity of the initial concept. The project is scheduled to finish open in late 2021.