Hospitality Market & Feasibility Consultant

TOTIMEH & ASSOCIATES LLC•Salem, VA

3d•Hybrid

About The Position

The Hospitality Market & Feasibility Consultant will serve as the named Project Lead for a comprehensive hotel market study and feasibility analysis on behalf of a Virginia municipal client. The consultant will manage the full analytical lifecycle of the engagement from market and demand assessment through facility recommendation and financial feasibility modeling and will author the final report, executive summary, and supporting models. This role requires a seasoned hospitality real estate professional capable of independently scoping, executing, and defending a defensible feasibility study, and presenting findings credibly to municipal staff, leadership, and elected officials. The study evaluates market demand for hotel accommodations within an independent Virginia city of approximately 25,000 residents, located in a metropolitan area of roughly 314,000, with lodging demand driven by a college, a civic center, a sports complex, a regional ballpark, and recurring athletic, tournament, and conference activity. The consultant will analyze market demand and supply dynamics, recommend the optimal lodging product, evaluate candidate development sites, and test the financial viability of new hotel development over a 5 to 10year horizon, including the potential role of public financing or incentive structures.

Requirements

Bachelor’s degree in hospitality management, real estate, finance, economics, urban planning, or a related field.
Minimum 7 years of progressively responsible experience in hotel consulting, feasibility analysis, hotel appraisal, asset management, or development advisory.
Demonstrated experience leading or serving as principal analyst on hotel market and feasibility studies, with at least three comparable engagements.
Working command of STR / CoStar and the ability to build competitive sets, penetration analyses, and demand segmentation.
Strong financial modeling skills and command of hotel operating economics (USALI, ADR/occupancy/RevPAR dynamics, departmental margins, stabilization curves).
Excellent written and verbal communication, with the ability to present and defend findings to municipal audiences.
Availability for periodic on site work in Salem and the Roanoke Region.

Nice To Haves

Advanced degree (MBA, MS in Real Estate, Hospitality, or Finance).
Professional credentials such as MAI, CHIA, ISHC, CRE, or CCIM.
Public sector experience delivering studies for municipalities or authorities, with familiarity with procurement and FOIA subject deliverables.
Experience with public financing and incentive tools (TIF, tourism/lodging tax mechanisms, grants, P3).
Knowledge of the Virginia or Mid Atlantic lodging market.

Responsibilities

Community Wide Market Evaluation: Assess market demand across the city and surrounding competitive areas. Evaluate existing and pipeline lodging supply, including announced or under construction properties. Determine realistic market share capture and identify the optimal lodging type(s) limited service, full service, extended stay, or boutique and recommended room count.
Demand Analysis: Identify and quantify primary demand generators across corporate, group, leisure, sports, government, medical, and institutional segments. Compile and analyze historical and projected occupancy, ADR, and RevPAR performance. Evaluate demand patterns tied to major regional generators such as the sports complex, civic center, college, and ballpark.
Facility Recommendation: Recommend optimal facility size, quality tier, and product type. Recommend appropriate brand chain scale or independent/boutique positioning. Identify and evaluate candidate development sites and assess their suitability.
Financial Feasibility Analysis: Build multi year projected income and expense statements for the recommended hotel. Estimate development costs, model operating performance, calculate ROI, IRR, and other return metrics. Evaluate public financing and incentive mechanisms TIF, grants, lodging/tourism tax tools, and P3 structures and quantify their impact on feasibility.
Reporting, Deliverables & Presentation: Author the final written report, including findings, analyses, recommendations, and supporting data. Prepare an executive summary for leadership and stakeholder review. Deliver an oral presentation of findings to client staff and/or governing bodies. Compile and transmit all supporting data files, financial models, and documentation. Maintain the project schedule and deliver the final product within the 120 to150 day target.