In order to find the right concept for a location, a thorough market and location analysis will need to be carried out first. This will serve as the basis for establishing a location profile which will reveal possible market niches or opportunities and hence show the potential for a new hotel.
Hotel Market Analysis
From an undifferentiated point of view, most business locations will have sufficient hotel capacities. The hotel market analysis developed by Feuring, which takes a detailed look both at demand and existing hotels, makes it possible to determine what demand for what kind of hotels there really is in a particular location.
Due to Feuring Group's holistic approach and in particular to the company's long years of experience in the realisation of hotel projects, Feuring's own method of tackling feasibility studies is a lot more extensive than that of most other feasibility studies.
Concept & Area Programmes
The foundation for the long-term success of a hotel is laid when the project is still at a preliminary stage. This entails an efficient and profitable configuration of the building. An efficient area concept is the basic requirement for the profitable operation of the hotel.
Hotel valuations by Feuring have a holistic approach and take into consideration both the material value as well as the market value of a property. The most important aspect in this context is our deep understanding of a hotel's life cycle and of the marketability beyond the intended investment period that is connected with this.
Commercial Reviews & Steering
Due to more variable contract clauses, the financial risk is being shifted from the hotel operator to the owner and this in turn is creating new challenges for investors. Even when the hotel is already under operation Feuring Group can provide the investor with some very effective tools in order to protect his interests vis-à-vis the operator and his obligations resulting from the operating agreement.
Emergency & Interim Management
In order to avoid a difficult economic situation when it comes to a change of operator, the Feuring Group can provide the investor with another competent tool, i.e. interim management. This includes both the winding up of the existing operating agreement as well as taking over and securing the operative side of business and procuring a new hotel operator.
Feuring's motto "driven by visionary hotel development" is not only true in terms of operations and design within hotel development but also from a strategic point of view. When it comes to the strategic development of companies and products, Feuring regularly provides its support and advisory services to some of the most important decision-makers in the hospitality sector.
Feuring gives advice to the owner in respect of the rights and obligations towards the operator and third parties resulting from the respective contract. Predominantly, contract management stands for the review of the fulfilment of the operator contract. Beyond that Feuring assists with all kinds of contract negotiations or adaptations.
More and more often, hotel properties are being traded as investment goods alongside other forms of real estate. It is, however, very difficult to use a uniform valuation method as the parameters influencing the value of the special kind of property a hotel is, are completely different to those influencing other forms of real estate. In order to ensure the long-term success of hotel investments, Feuring regularly assesses available hotels with the help of previously defined parameters.
Representation of the Owner
As representative of the owner the Feuring Group works hand in hand with the entire project team by the name of and by order of the owner. The coordination of all involved project parties takes place on all levels.
Feuring establishes a Steering Committee with the objective to cause all necessary decisions between owner and operator. Furthermore Feuring provides a thorough documentation and informs the principal about the building phase and progress of the project.
The conception of the mobile and immobile inventory (FF&E) as well as the operating equipment (SOE) needs to be planned as early as possible within the project, but at the latest during the construction phase. For several years now, the Feuring Group dedicates itself to the facility and equipment of hotels. Several thousands of hotel rooms in Europe have been shaped and equipped by Feuring.
Hotel-specific Inspection and Sign-off
The professional approval of the building is the last step within project management. The aim of this phase is to hand over the turnkey property to the hotel operator and to finish the project. Thanks to its team of experts and the multitude of successfully completed handovers, Feuring Group can guarantee that the final inspection and approval of the hotel will be satisfactory to both, the owner and the operator.
Funding a hotel project in Germany, as in most other European countries, continues to be difficult. Hotel developments are basically always in direct competition with other investment opportunities. For this reason it is important to take into account the risk involved and to reflect this in an appropriate rate of return.
Utilisation Concept & Optimisation
The foundation for the long-term success of a hotel is laid when the project is still at a preliminary stage. Feuring Group's approach in developing a suitable configuration of the building is carried out on three levels: Area Efficiency, Functionality and Usability by Alternative Operators.
Feuring Group offers the pre- and final selection of a suitable hotel operator as well as the negotiation of an appropriate operating agreement and offers these services in one service package. Thanks to many years of experience and wide-ranging contacts with all major international hotel chains and operators, Feuring can ensure a fast and discrete selection of a suitable operator.
Implementation of Operator Standards
One of Feuring's main tasks within project development is the careful balance between a neutral and individual concept. The aim is to implement the operator's standards to such an extent that the individuality of the brand in question is maintained without neglecting the generally accepted standards in the hotel industry.
Construction Costs Estimate
A realistic estimate of overall project costs has a direct influence on the success of the project. Especially in times of increasing construction costs it is extremely important to closely observe their development and to reflect them correctly. Due to its extensive experience in the field of project development and the wide range of objects of comparison it can refer to, Feuring Group can guarantee its customers a realistic estimate of the overall construction costs.
Project coordination is the collective term for the comprehensive steering of the entire project. Feuring's competence in cross-functional communication plays a very important role in this. It has the task and function of bringing together all parties involved in the project in order for them to make mutual decisions and to speed up the development process.