For the final cumulative project, you will be performing an event impact analysis on your chosen event/city.
CITY SELECTION: PARK CITY, UTAH
General Information:
For the final cumulative project, you will be performing an event impact analysis on your chosen event/city. The purpose of an event impact analysis is to determine how great of an impact a specific event in time has on a city. All of the major events and cities selected for purposes of this project should show a significant impact on the hospitality and tourism economy of that city—some will be more impactful than others and as a class we hope to compare and contrast event reporting.
PART 1—Market Study – ALL PROJECTS WILL COMPLETE THIS SECTION
Assignment: Within this first section, you will develop complete a market study on your selected city. A background overview of your selected city, providing important details pertaining to the area is expected of you. This report should contain information that can be developed into a full site evaluation and event impact analysis using industry and tourism statistical information provided in the STR reports for your city.
In this first section, please detail the following information regarding your assigned city and event:
Census data for your city.
Hospitality and tourism venues available.
Seasonal information about your city.
Basic information available to provide a background of the event you are analyzing.
Please develop your findings into a written report and submit as a Word document (.docx) file. Minimum word count is 1,200 words.
PART 2—Feasibility Study OR Event Impact Analysis (ALL PROJECTS WILL CHOOSE ONE OF THESE)
Assignment: Please utilize the information you gathered from the site evaluation to assist you in either route you decide to take continuing forward with this cumulative project. In this section, you will elect to complete a feasibility study or event impact analysis on your chosen city.
If you are developing a feasibility study, you will need to use the provided STR reports to detail the current occupancy and average daily room rates for properties within your targeted area. Please utilize the information from the site evaluation to develop a prospective hotel for your chosen city; determine size and class you feel would be most successful. Select a comparable set of hotels to compare your hotel to. Develop supply and demand analysis for the area from the STR data provided to you, focusing heavily on market supply. Estimate your proposed property’s ADR and occupancy percentage based on the information available to you.
If you are developing an event impact analysis, thoroughly detail and explain the event you are performing the analysis on. You are expected to provide data related to what type of event it is, previous statistical information available related to attendance, demographic information of participants/attendees, and any other pertinent historical information you can find about the event. Additionally, you will need to use the STR data provided to you to perform a supply and demand analysis on the area in relation to the major event taking place. Information that should be detailed in your report should show the direct impact on hotels the week before, week of, and week after the event. It would also be advised that you include information related to ADR and occupancy percentages of hotels during that given time.
Please develop your findings into a written report and submit as a Word document (.docx) file. Minimum word count is 1,200 words.
Writing Tips for the Final Project—Reporting on Your Findings and Determining the Best Fit
Assignment: Within this assignment, you are expected to write a formal report on your findings. For either the feasibility study or event impact analysis, write a report on your findings and pretend as if you were presenting it to investors (feasibility study) or the Convention and Visitors Bureau (CVB) of your city (event impact analysis).
Your report should be written using APA formatting—12 pt. font, Times New Roman, double-spaced. This is a professional document, and your goal is to convince the reader of the financial impact your event has on a city or the potential success of your proposed business through the efforts of your feasibility study. The length of your report will vary based on the type of project you’ve selected to complete but it needs to be long enough in length to convey the data you’ve collected and analyzed; see the minimal word count requirement in each section.
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