Refurbishment Analysis of Hunter Resort

This study analyzes the refurbishment of Hunter Resort, considering the quality and design needs of the target market, economic viability, environmental sustainability, and financial value. It also identifies the stakeholders affected by the refurbishment and provides an approach to achieve positive results for all stakeholders.

Asset Management

Table of Contents
Introduction......................................................................................................................................3
Refurbishment analysis....................................................................................................................3
Quality and design needs of the target market.............................................................................3
Provided refurbishment design and facilities..............................................................................3
Economic viability of the refurbishment.....................................................................................3
Environmental sustainability of the refurbishment......................................................................3
Financial value and development return......................................................................................3
Identification of the stakeholders affected by the refurbishment................................................3
Approach to provide positive results to involved stakeholders...................................................3
Conclusion.......................................................................................................................................3
References........................................................................................................................................4

INTRODUCTION
The present study is based on the refurbishment analysis of a hospitality firm named Hunter
Resort, the study considers the refurbishment on the basis of quality and design needs of
customers, and state the design and facilities provided by the refurbishment to the target market.
Along with this, the study also covers the economic viability, environmental sustainability,
financial value and development return of the refurbishment. The study will also identify the
stakeholders who will be affected by this project while providing an optimum approach that can
be useful in presenting positive results to all stakeholders.
REFURBISHMENT ANALYSIS
Quality and design needs of the target market
Since the target market of the resort is families, groups or personal travellers, so keeping this on
mind refurbishment will be initiated by considering their needs, expectations and demand.
Further, this specific target market, generally prefers visiting those resorts which are more
comfortable, convenient, aligned with fast services, excellent quality, attracting interior and
design breathtaking views and sceneries.
The designing will help in differentiating the hotel from the rushed market. The resort
undergoing from the renovation would be most expected to prevent a fall in revenue and re-
consider that it offers a new and more reliable guest experience based on their needs. (Zemke,
Zhong & Raab, 2019)Market surveys have also been considered on the design of the resorts, and
the results are satisfactory, it can be said that the heritage property will provide such qualities
and design which will be different from other competitors, and it is also surveyed that none of
the competitors nearby would have such vineyard, accommodation and designing.
The qualities provided by the hotel would be top-notch, and the design would be given to the
resort by considering the customer need, interior designers and construction and designing
experts (Lee, Honda, Ren, & Lo, 2016). In this way, all would be approved by planners,
contractors and constructors, and resort would be given a new shape and structure that would be
compelling, full of edge and appealing.

Provided refurbishment design and facilities
The refurbishment will be considered in where the target market could gather and enjoy their
leisure time. The project will work on the natural qualities of the site to create such experience
that is exceptional. Interior designing will be considered in the resort that will help in developing
the storyline of the site and to set up the character of the project and determine indoors, forming
spaces that are effective, thematically related, functional and comfortable. Since the innovative
design is the core. Further the same will be considered in and help property in attaining design
consistency and ensuring excellent guest experience (Harper, 2016). Both soft and full
refurbishment will be conducted with the consideration towards decoration, electrical fitting,
hard finishing, bathroom design, furniture and floor coverings and polishing.
Facilities of enjoying the spa with the view of the natural site and beautiful sceneries will be
provided, as well as at the vineyard, wooden furniture and look will be made while some unique
and rare aspects would be added to attract the eye of the target market (STEFANOVA, 2015). A
collection of rare and old vines will be kept and provided to the customers, plus gardens, playing
arena, pools, spa etc. would be polished with necessary renovations.
The economic viability of the refurbishment
Given that the Hunter resort is 50 years old, it will be easy for the project to take a loan from a
bank, or search out for investors who can make a large investment in the property and enjoy
benefits aftermath of the success. For the resort, it will be easy for them to finance and raise
fund for the project, as it has established a name. The resort refurbishing will also not conduct
any kind of environmental loss, so it is viable in terms of economy as well, as it is approved by
researcher, constructors, planners and environmentalists. Proper planning and researching have
been conducted in the pathway of refurbishment, such as market surveys, competitor survey etc.
The concept of the vineyard, spa cabin, big private cottage and other accommodations would be
loved by the targeted market, says the market research, and framing them in an extraordinary
way with sustainable and economic resources will take it to the new level.
For the business idea to be viable, it is vital first to consider the feasibility and ROI, further
proper appraisals viability of the business, however, it needs enormous data collection and
technological knowledge to determine the overall feasibility (Tucker, Masuri, & Cotgrave,
2017).

Environmental sustainability of the refurbishment
During the refurbishment project, environment and sustainability will be given the first priority;
the project will be conducted in a way that does not harm the environment. The resort will be
provided with an original design, by making use of selected materials with minimum
consumption to power and being very comfortable and involving an eco-friendly appeal. In
addition, technologies will be applied technologies that tend to reduce air pollution, in respect to
the environment and in aligned with the aim of limiting climatic change (Swarbrooke, 2015).
Furthermore, the resort will opt for products at the time of refurbishment contain recycled
materials, and mist highly-effective materials and products will be fitted and installed, from
heavy insulated curtains to lower energy system. Aesthetic design and feel will be given to
resort in a sustainable way without sacrificing the looks. Guests will be inspired to stay at the
resort by its aesthetic and installation needs of the element of and improvise it (Chandran &
Bhattacharya, 2019).
The property will also be in pursuit of minimizing water consumption by water saving and
effective practices and making optimum utilization of innovative technologies and resources.
Rainfall would be harvested in the resort, and the continuous policy of resort to reduce the water
discharge will secure external pollution sources. The design and renovation would be conducted
in a manner that preserves and optimizes the ecosystem without harming it. The resort will be
given such design is that it is more adaptable to biodiversity, and their multi-level facilities,
amenities and accommodation will unify traditional architecture with natural diversity (Boyd,
2017). Prior to the refurbishment of the resort, the team and engaged individuals will analyze
and evaluate the use of land and affects first.
Financial value and development return
Initially, after the refurbishment, the heritage property will charge higher values and prices from
the potential customer, as they would be now providing luxury and lavish services and facilities.
Further, this would help in compensating their investment, and they can develop their return by
offering exceptional services, at a higher rate with more of sustainability, customer needs, and
superior qualities aligned (Filin & Marushkina, 2018).

At the start of the refurbishment, it will call for higher investment and certain instability in the
financial position of the resort, but after some time these all be compensated with deploying
ongoing determination, efforts and commitment (Röllecke, Huchzermeier, & Schröder, 2018). It
is held that the guests would be willing to pay for services, as such services are not offered by the
related competitors, while it is expected that after the completion of refurbishment there would
be increase in the selling growth by 20% to 25% and the profit margins of the resort will be
raised by 15%.
Hence, it can be articulated that the financial value and return of development would be higher as
supported by the market research, surveys and advice from designers and planners. Also, the
business forecasts state that profitability would be increased over time.
Identification of the stakeholders affected by the refurbishment
The stakeholders affected by the project are enumerated as below:
Customers: Customer is the primary stakeholders who would be affected by the refurbishment, it
is because if the provided amenities and facilities are quality oriented and design is as per the
needs of the customer, then it can enhance, improve customer satisfaction and experience,
thereby positively impacting the profitability of the resort. The positive impact could be created
if the needs are tailored, customer priorities are put on top for long-term, through personalized
services and customer nurturing, thereof delighting customers (Pheng, 2018). Thus, this will
drive customer loyalty and higher customer demand.
Owners: Owners are also the major primary stakeholder who will be affected by the overall
project, due to the fact they lose feasibility and a certain amount of revenues. Since
refurbishment takes days, or sometimes months thereby affecting the sales of the resort,
however, the lower sales would be a matter of some days, but after that resort can take benefit on
a long-term basis with better customer retention. The renovation will directly impact the
marketability, profitability, value, perception and functionality of the resort and this issue has
considerable implications on the owner thereof (Douglas & Goodman, 2018).
Approach to provide positive results to involved stakeholders
To the owner, it is approached that they are required to allocate and plan the budget optimally
and place efforts to reduce the impacts on customers. They are also required to work on human

resources and must employ temporary staff during refurbishment for activities, operations and
ensuring safety. At the time of renovation, an approach is positioned to make an asset manager
responsible for the planning, comprehending customers and facilities and managing the aspects
on the basis of average total costs to complete the project timely and effectively (Thomas-
Francois, von Massow, & Joppe, 2017).
Resort owner should consider their customers and their balance sheet at the time of making a
decision on refurbishment design, the time period to start the process and total budget and
expenditure on the project. Further, considerations are inclusive from the side of resort owner are
timing, return on investment, and the expected holding period needed for the asset. If managed
the refurbishment plan effectively then it can garner optimum and best financial aspects making
it worthwhile (Durgee & Agopian, 2018).
CONCLUSION
On the basis of above refurbishment analysis, it can be concluded that effective asset
management is very necessary if a resort plans to refurbish itself, these can result in both short
and long term gains. Through refurbishment, Hunter Resorts will be able to attract more visitors
and guests and can vastly improve their business profitability and sales. The main role of the
refurbishment for the resort is to optimize the performance of revenue and to reduce the impact
on hotel operations. Thus, with the refurbishment hotel will be able to attract the modern
customer with its aesthetic, old, rare appeal, with the distinctive vineyard and accommodation.

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