Importance Of Feasibility Study Heritage Hotel

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1. Introduction
A Feasibility study examines the practicability of a business. The purpose of feasibility study will look at how a certain in old building while evolve to heritage hotel can work in a long-term basis or endure financial risks that may come. Another important purpose that it helps the planners focus on the project and reduce the possibilities. For the operational aspect, the analysis determines whether the plan has the necessary resources for it to be practicable. Feasibility study looks at the now a day market and studies the anticipated growth of the target market sector.

Many of the old-style buildings have historical value in Hong Kong and they can be evolved into heritage hotels through redevelopment and renovation to …show more content…

3.1.1 Nature of business
Heritage Hotel is a general form of hotel as a marketing approach, but the difference is there are historical background of cultural relics as a themed basis. Also, there is difference with the luxury hotel as there would not offer the special facilities and value-added service, for example the swimming pool, meeting room or gym service.

3.1.2 Product
According to Kotler (1994) identifies the three levels of product which is core product, tangible product and augmented product. Firstly, the core product is provided the accommodation service to the guests. Secondly, the tangible level of the product is the heritage hotel itself as it is from old building to evolve to heritage hotel. Finally, the augment product of heritage hotel is conduct the redevelopment and renovation as it is the purpose of the

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