Town anticipating hotel market study

Town anticipating hotel market study

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A hotel market study commissioned by the Town of Oliver is nearly complete.
Urbanics Consultants Ltd. is now working on the feasibility portion of the study (the financial viability information).
“We should have something from them by the end of November,” said the Town’s chief financial officer David Svetlichny.
The consultant has provided an overview of the current global, provincial and local economic activity, noting the economy is quite volatile and constantly in flux.
This section of the study has incorporated a review of national, provincial and local tourism trends, including revenues, property counts, room counts, and occupancy rates. It also touches on outdoor activity trends, eco-tourism, agri-tourism and the wine/food industry.
Urbanics has incorporated a detailed overview of historical population trends and forecasted population growth. The population of Oliver is currently 4,824.
The study incorporates information on the Town’s transportation systems, traffic counts, land use policies, development trends, and festivals.
The consultant has recommended a specific site area conducive for hotel development. An analysis of the area’s strengths and weaknesses has been completed.
Urbanics has compiled an inventory of hotel, motel and resort accommodation in Oliver, Osoyoos, Okanagan Falls, Penticton and Summerland.
The consultant’s analysis on the demand for a hotel is nearly complete. It has examined South Okanagan hospitality market factors impacting demand, and have classified hotel users based on independent travellers and tour groups.
A sensitivity analysis will be undertaken to account for a range of likely market shares that an Oliver hotel might be able to capture.
The next phase of work will explore a development scenario and project financing/ revenue sources.

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