Forward Land worked with Hotel Solutions who were engaged by Bournemouth, Christchurch and Poole (BCP) Council, to conduct a comprehensive review of their tourist accommodation operation and advise on the requirements and produce a revenue model for the development of new beach front properties.
BCP Council have developed and operate 24 beach front lodges each sleeping up to 6 people. Following the success they have gained consent for the development of a further 17 beach front properties. Having developed the product themselves they wished to understand growth opportunities and where operational efficiencies could be achieved against industry leading standards.
The report included a market overview which highlighted future prospects for the sector and the market opportunities these present. This covered product trends and market habits along with audience segmentation and how growth opportunities might be exploited. For the review of the existing operation, comment was provided on the current offering, operating structure and marketing. Critically, a thorough review of the customer journey was conducted. This began with the initial internet search, booking, and payment handled directly by BCP. Then the arrival, stay and departure were reviewed, including an assessment of customer reviews. A detailed look at the performance of the website was included in the report owing to the importance of this as the main source of bookings.
The performance of the current operation was benchmarked against regional as well as national coastal self-catering properties. As part of the performance review the pricing model was assessed. This looked at at optimising revenue, including a review of the existing stay parameters. For the new units the positioning and product offering was assessed against the fit with target markets and expectations. This also included market opinion on the inclusion of hot tubs for premium units. A key consideration which was reviewed was how the new product would be distinct from the existing operation. Detailed revenue projections were also produced for the new inventory and market comparables for the existing inventory. The current operation uses an in-house technology platform, which is not fit-for-purpose, so an appraisal of suitable property management software was conducted.
