Overview

This feasibility study assessed the viability and potential success of a proposed new mineral springs resort with multiple onsite accommodation options.

Key objectives of the feasibility study included:

• Evaluating the project’s financial feasibility
• Analysing market demand and potential target customers
• Assessing alignment with tourism strategies
• Identifying economic impacts and benefits

The study addressed several complexities:

• Analysing diverse accommodation types and amenities
• Evaluating the combination of nature-based and wellness tourism
• Assessing the project’s ability to address seasonality issues
• Considering implications of using underground aquifer water
• Navigating planning and permit requirements

Key deliverables of the study included:

• Financial modeling and profitability projections
• Competitor analysis of local accommodation options
• Assessment of alignment with tourism strategies
• Economic impact analysis at national and state levels
• Evaluation of potential operating models
• Analysis of target markets and demand drivers
• Overview of planning permits and endorsed plans
• Recommendations for sustainable and inclusive tourism practices

Outcomes

• The study provided a solid foundation for decision-making regarding the project’s viability and potential funding applications.
• The feasibility study found that the project has strong potential to become a successful accommodation project, addressing key market gaps and aligning with strategic tourism objectives.
• The proejcts unique offering of affordable wellness experiences combined with nature-based accommodation addressed a gap in the local market.
• It is expected to contribute significantly to the local economy, create jobs, and enhance the region’s tourism offering.
• The feasibility study has provided support for the park’s owners in seeking funding support as well as in respect of council and industry presentations.