Flexible, Multi-phased Hotel Development. (2015)

• Record Type: Journal Article
• Authors: Milwicz, Roman; Dubas, Sebastian
• Is Part Of: Procedia engineering. Volume 122(2015)
• Page Start: 112
• Page End: 119
• Publication Date: 2015
• Subjects: flexible design -- hotel development -- flexible adjustment; Engineering -- Congresses; Engineering -- Periodicals; Engineering; Conference proceedings; Periodicals; 620.005
• DOI: 10.1016/j.proeng.2015.10.014
• Languages: English
• ISSNs: 1877-7058

Abstract

Abstract: There is a need for diverse development strategy considering risks of investing in the hospitality market adequate for time varying market requirements. Implementation of long-term investments based on assumptions and forecasts causes a high risk of loss. The target is to find solutions preventing risks and seizing opportunities. In a case study hotel expansion is planned therefore different scenarios were analysed. Historical data enable prediction of market changes; as a result spectrum of demand for services was created. Standard and flexible approach to selected scenarios was analysed with emphasis on development of investment process, minimize risk and optimize profit.