Spring 2025 marked the beginning of a large-scale analytical project. We conducted a full market study for a private developer considering a new hotel in Chernivtsi. At first glance, the task seemed simple: assess demand, competition, and guest expectations. But the war, shifting tourist flows, and evolving customer behavior made it far more complex.
Our Approach:
- Desk research: statistical analysis, competitor websites, industry reports, seasonal trends, pricing, and occupancy rates.
- Field research: interviews with hoteliers, observation of competitors, traffic and service analysis.
- SWOT analysis: identification of strengths, weaknesses, risks, and opportunities.
- Analytical synthesis: combining findings to shape concrete recommendations for the investor.
What We Discovered:
- The market is evolving. Demand is unstable but business tourism has strong growth potential.
- Competition is limited, yet tricky. Many hotels are outdated and fail to meet modern expectations.
- Location is crucial. We conducted a geolocation assessment and highlighted the most promising areas.
- Who is the guest? Mostly business travelers or short-term tourists. Their priorities: comfort, convenient location, and fair pricing.
What It Gave the Investor:
- A clear understanding of the target audience
- Demand forecast post-war
- A hotel format with the highest commercial potential
- Financial justification and risk map