Market study and feasibility analysis for a proposed three star hotel in Cardiff Bay, South Wales.

Abstract

This report presents the idea and the concept of a three star hotel in a former Chamber of Commerce building in Cardiff Bay. The objective of the enterprise project is to prove whether the business idea is feasible or not and to optimise the triangle between practicability, costs and quality. A vast knowledge was acquired by completing the literature review and during the developmental process of the project. The author was able to gain remarkable insight into the hospitality industry. A questionnaire to find out the needs of the potential customers and an analysis of the existing competitors was conducted in order to identify not only the target but also the existing market. The results of the primary and secondary market research show the potential of the hospitality industry in Cardiff. The business plan outlines the business idea and explains concept, structure and management operations in detail. Profit and loss accounts, cash flow accounts, balance sheets and ratio analysis provide facts underlining the theoretic estimations. These results are extending the project.