Market and Feasibility Study Services

The vendor is required to provide market and feasibility study will also evaluate how each site’s entitlement status, area and opportunity zone designations, and public infrastructure conditions affect development potential, investment return, and implementation timing.
1. Market and economic analysis
•    Conduct an in-depth evaluation of the county lodging markets, including supply, demand, and performance trends by segment (business, leisure, group, and extended stay). 
•    Identify primary and secondary demand generators, market seasonality, and visitor demographic trends. 
•    Provide projections of future lodging demand, average daily rate (ADR) growth, and competitive positioning over a ten-year horizon. 
•    Provide a 10-year pro forma with scenario analysis and an editable excel.
2. Competitive set and brand benchmarking
•    The appropriate competitive set for the proposed boutique hotel and evaluate recent and historical operating performance.
•    Benchmark palm coast market performance against comparable tier 1 brands, including boutique and lifestyle collections.
•    Assess feasibility of affiliation with soft-brand flags such as tapestry or curio collection and tribute portfolio or autograph collection, including franchise criteria, room count compatibility, and average daily rate (ADR) expectations.
3. Site and development evaluation
•    The primary 2.89-acre privately owned lakefront parcel, as attached hereto and incorporated herein by the consultant shall also evaluate the development potential of the ±7-acre city-owned site located approximately 100 yards north of state road 100 within the town center area, as attached hereto and incorporated.
•    Authorization period expires following the 2034 tax year, and therefore any tax increment or other financial participation mechanisms must be structured and realized within that limited timeframe.
•    Privately owned, free of debt, and holds existing commercial entitlements necessary to accommodate the hotel’s ancillary restaurant and retail space as well as off-site parking rights for approximately twenty-five (25) vehicles.
•    Comparative evaluation shall address entitlement status, infrastructure availability, visibility, access, re-platting flexibility, and fiscal leverage achievable through area or opportunity zone incentives. 
•    Include any site layout constraints commentary.
4. Financial feasibility and alternative development scenarios
•    Prepare comparative market and financial analyses for two potential development scenarios: (1) a boutique hotel and restaurant concept located on the privately held 2.89-acre lakefront parcel, reflecting existing commercial entitlements, off-site parking rights, and the required conversion of residential entitlements to hotel keys; and (2) a mixed-use or hospitality alternative on the city-owned ±7-acre tract within the area and opportunity zone, which is outside the district and requires no entitlement purchase but may require re-platting.
•    The analysis shall quantify relative development costs, entitlement implications, absorption potential, projected revenues, and fiscal returns.
•    The consultant shall identify how area incentives, opportunity zone benefits, entitlement conversion requirements, and the absence of district fees influence each scenario’s feasibility and potential public-private structuring. 
•    The analysis shall also consider the finite duration of the area, which sunsets after the 2034 tax year, and the resulting impact this limitation may have on potential tax increment financing (TIF)-backed or area -supported financing structures.

- Contract Period/Term: 1 year
- Questions/Inquires Deadline: November 5, 2025