As the name suggests, a feasibility study is an analysis of the viability of an idea or concept. The feasibility study focuses on answering the essential question of “should we proceed with the proposed project?”
Promoters with a business idea should always conduct a feasibility study to determine the viability of their idea before proceeding with the development. Learning that a business idea will not work earlier, saves time, money and heartache later.
A feasible hotel development is one where the business will generate adequate cash-flow and profits, withstand the risks it will encounter, remain viable in the long-term and meet the goals of the founders. It will also be worth more upon completion than it costs to develop.
To read more about Hotel Feasibility studies please click on the link;Hotel Feasibility Study