The vendor required to provide market and feasibility study will also point to the best components to integrate into the boutique hotel i.e., full-service restaurant, meeting or special event space and roof-top lounge area. recommend square footage allotment for each integrated component.
1. Market and economic analysis
• Conduct an in-depth evaluation of the palm coast and 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 agency boutique and lifestyle collections.
• Assess feasibility of affiliation with soft-brand flags such as city tapestry or curio collection and tribute portfolio or autograph collection, including franchise criteria, room count compatibility, and ADR expectations.
3. Site and development evaluation
• Property is located within the state road 100 area and the federally designated opportunity zone, making it eligible for potential tax-advantaged investment and CRA financing tools.
• The area current 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.
• The 2.89-acre site is 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.
• The property owner will need to convert a portion of existing residential apartment entitlements into hotel room key entitlements in accordance with the town center requirements.
4. Financial feasibility and alternative development scenarios
• As appropriate to the boutique hotel or any other hotel recommendation, prepare midterm stress metrics (e.g., what happens if occupancy falls 10%) clearly identifying key assumptions and transparency.
• Prepare an economic TIF impact memorandum suitable for area use.
5. Public-private partnership and fiscal impact
• City or area participation tools, including tax increment financing (TIF), impact fee adjustments, land value contribution, and performance-based incentive structures.
• All area-related participation scenarios shall account for the remaining term of the area (through the 2034 tax year) to ensure realistic forecasting of available increment revenue and to evaluate the feasibility of reimbursement structures within the remaining life of the district.
• Quantify anticipated fiscal benefits to the city and area, including ad valorem revenue generation, job creation, visitor spending, and economic multiplier effects.
• Provide recommendations for potential public-private partnership (p3) frameworks that ensure public benefit and project viability.
- Contract Period/Term: 1 year
- Questions/Inquires Deadline: January 13, 2026
