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Operator Selection Process for proposed Resorts in the Greek Islands

 

The Client

A resort development company headquartered in Greece. 

What did Hotel Solutions Partnership achieve for the client?

HSP submitted feasibility study reports incorporating Market Studies, Concept Reviews and Financial Projections for the two different sites to the client.

The feasibility studies confirmed the viability of the projects. It was determined that one development will be a luxury integrated beach resort with branded residences and an authentically Greek wellness offer, and the other development will be a more boutique offer focusing on fitness, agri-tourism and the digital nomad market. Our reports were used to prepare information memoranda for an operator search and separate investor and funding searches.

 

Background

The client needed to identify suitable branded operators for two proposed resort hotels to be developed on plots in Skiathos, Greece.

 

Client Need

Following Hotel Solutions Partnership’s (HSP) successful delivery of Feasibility Studies for both sites, the client engaged HSP to undertake Operator Selection processes for each of the sites.

 

Scope of Work

Prepare Request for Proposal (“RFP”) Documents

HSP created RFPs containing site information, market research and conceptual design excerpted from the hotel feasibility studies. This also included client information developed post the studies.

HSP liaised with the client to agree the :

  • RFP documents
  • Process timetable
  • Operator pre-qualification and selection criteria
  • Non-disclosure agreements
  • Short list of potential brands and operators to be invited to submit proposals

 Marketing the opportunity to target operators

HSP conducted a competitive bidding process to maximise the opportunity for our Client to identify the operating partner that would add the most value to the developments. We distributed the RFP to 12 hand-picked, pre-agreed brands/operators with the brand strength, sales and operating capability to compete successfully in the identified markets.  This process included :

  • Discussion of the opportunity, involving an online presentation to prioritised brands and operator
  • Preparation of a timetable noting all critical dates for submission of proposals, presentations and owner decision timeframes
  • Answering any queries and providing additional information as required

 

Analysing and negotiating operator terms and prepare recommendation report

  • Receipt of Letters of Intent (“LOI”) and/or proposals with the brands’/operators’ key terms including major financial components
  • Evaluated proposals based on a pre-agreed set of weighted criteria such as brand strength, suitability for concept, development support and financial impact of the major commercial terms.
  • Shortlisted two operators for each resort for further discussions.
  • Negotiated the key heads of terms to achieve the most advantageous commercial arrangements