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Feasibility Study
Mineral Springs & Accommodation Feasibility Study
Mornington Peninsula, Victoria
2023
Viability assessment
Private Developer
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
  • 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.
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