Lectures_3_and_4___Development_Process

Lectures_3_and_4___Development_Process - Announcements...

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Announcements Today’s lecture packet will be used again on Wednesday, so please bring it with you next time. Be sure to add yourself to the class Blackboard site if you haven’t already. Reminder: Accommodation letters from SDS are due to me by SEPTEMBER 17
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Who comes to Ithaca for overnight accommodation and why? I recommend you take notes on this conversation…
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Homework #1 Feasibility for a lodging project in Ithaca: Pick a site from the choices given. Identify demand generators for that site. Determine target market(s) based on the relevant demand generators and site. Pick a hotel size from the choices given. Decide on facilities that work for market, size of hotel and site. Run the numbers. CHECK the numbers! Write it up. Proofread carefully!
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The Sweet Spot MARKET SITE FACILITIES
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Homework #1 Due MONDAY, SETPEMBER 24 at 8:40 am Work on your own only , please. Shared work or answers = violation Follow instructions carefully!! Note the sample write-up on the website under Assignments. Remember the ABC’s!
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Lectures 3 & 4: Hotel Development Process & Players
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Development is... interdisciplinary entrepreneurial dynamic cyclical a blend of art and science Plan Design Build Open Operate Sell Cash Idea
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Primary Goal of Development “To meet owners’ present and future needs, on schedule and on budget.”
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Goals of Development Private minimize risk maximize return and…? Public a safe, attractive, well- located project that enhances the community and the tax base and…?
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Stage 1: Development Planning Establish objectives Identify issues Assemble project team Determine the concept
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