27.08.2019
 Title F Feasibility Study Essay

MARKET FEASIBILITY STUDY SUGGESTED HOTEL/CONVENTION MIDDLE FACILITY LANCASTER, PA WELL PREPARED FOR: MR. DICK SHELLENBERGER, CHAIRMAN BOARD OF COMMISSIONERS LANCASTER COUNTY PREPARED BY: PKF CONSULTING MAY WELL 2006

May 12, 06\

8 Penn Center Plaza th nineteen Floor Phila., PA 19103 Phone: 215-563-5300 Fax: 215-563-1977

Mr. Dick Shellenberger, Chairman Board of Commissioners Lancaster County 55 North Fight it out Street Lancaster, Pennsylvania 17608-3480 Dear Mr. Shellenberger: According to your ask for we have finished our market feasibility examine associated with the suggested development of a Hotel/Convention Middle to be found in Downtown Lancaster, Pennsylvania. The complete study and conclusions come to are based upon our present knowledge and information with respect to the status and demand attributes of the subject matter project's competitive lodging and meetings market segments. As in all studies on this type, the estimated answers are based upon skilled and efficient management and presume no significant change in the competitive position with the lodging and meetings industrial sectors in the quick area from that as set forth in this record. They are also depending on our analysis of the present economy with the region , nor take into account or perhaps make provision intended for the effect of any well-defined rise or perhaps decline in economic conditions not presently foreseeable. Towards the extent that wages and other operating expenses may progress over the financial life with the subject job, we expect that prices of areas and other solutions will be tweaked, at least to balance such developments. The conditions of our involvement are such that we have zero obligation to revise this kind of report or the estimated twelve-monthly operating results to reflect incidents or conditions which take place subsequent to the date with the completion of our fieldwork. Yet , we are offered to discuss the necessity for the revision in view of changes in the financial or industry factors influencing the proposed project. You should do not think twice to call up should you have virtually any comments or questions. Seriously,

PKF Talking to

TABLE OF CONTENTS

SECTION

INTRODUCTION....................................................................................................... I

EXECUTIVE SYNOPSIS........................................................................................... II

INTERNET SITE REVIEW......................................................................................................... 3

AREA REVIEW...................................................................................................... IV

SUPPLY AND REQUIRE.......................................................................................... V

FORECASTED PERFORMANCE............................................................................. VI

STATEMENTS OF ESTIMATED TWELVE-MONTHLY OPERATING OUTCOMES.................... VII

APPENDIX

SECTION My spouse and i INTRODUCTION

Section I: Intro INTRODUCTION PKF Consulting was engaged by Board of Commissioners of Lancaster State (Pennsylvania) to conduct a feasibility research of industry demand and operating performance associated with the recommended development of a Hotel/Convention Centre to be found in Downtown Lancaster. Assumptions intended for the recommended development include the following: • The Hotel component of the proposed expansion will be branded as a fullservice Marriott house and will contain 300 guestrooms, a full-service restaurant, a 9, 621 square-foot ballroom, and a 7, 541 square-foot fitness facility to feature an exercise room, indoor pool area, and whirlpool. The Meeting Center element of subject job will include a 47, 842 square-foot display hall, 28, 551 square feet of prefunction space, a 9, 200 squarefoot ballroom, three 764 square-foot boardrooms, and six, 662 sq ft of conference room space.

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OPPORTUNITY OF THE STUDY The scope of our examine included the next: • • • • • Internet site analysis. Examination of economical trends. Examination of historic, current,...