Hospitality Development


Development Assistance

Development is a complex process of adjusting and fine-tuning all project elements. A developer controls the whole process from beginning to the end, he has to communicate with a lot of middlemen and counterparts: inspector, contractor, leasing agents, bank, architect, designers, building company, engineer, city planner, marketer, analyst, sales reps,... Whether you're a conglomerate, a SME with a small staff or a single property owner : we can help you to find the missing expert to develop your project or we propose you the development company that realise your idea.

Develop your idea into a marketable project

Sometimes you have land and do not know what to do with it. Or, you do not have the sufficient knowledge to turn your idea into a viable or feasible project.  We can provide guidance, organisation and execution of the following services

  • Pre Development Plans
  • Hotel or resort concept and design
  • Feasibility studies and professional business plans
  • Setting up of partnerships and/or lease deals
  • Management, cooperation and partnership agreements
  • Building up a professional management team
  • Takeovers and placement of real estate projects
  • Financing agreements of the sale & lease back type
  • Setting up of property funds
  • Investor search
  • Defining exit formulas
  • Assist in shareholders agreements
  • Arranging pre lease and lease agreements
  • Specific property search assignments
  • Implementation of hotel brand standards and operating procedures
  • Organisation and development of marketing programs and sales structures (from resort concept to structuring and building your independant sales network or distribution set-up for your hotel)
  • Technical Assistance during building
  • Managing sourcing and installation of FF&E, OS&E, IT .. till turnkey delivery
  • Pre Opening and Opeing Management
  • Project development (whole)

Analyse to comprehend the why

Development of income producing asset

DBFOM : Design Build Finance Operate Maintain

From idea to turnkey delivery with a suitable operator under an excellent brand : after careful evaluation of your project we assemble a development team with experts handling each of the specific disciplines. Whether we work with Meritsa Real Estate Fund as end investor, another hospitality real estate fund or private owner, our approach remains the same : from idea to operational income producing asset using an successful hospitality development framework.

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Develop an idea into a turnkey income producing asset.

Sometimes you have land and do not know what to do with it. Or, you do not have the sufficient hospitality knowledge to turn your idea into a viable or financial feasible project. Meritsa can provide guidance, organization and execution of (amongst others) the following services on a consulting basis with you or your own development team or as co-developer :

  • Defining concept and selecting/negotiating brand(s)
  • Calculating investors' profitability based on selected concepts
  • Pre Lease Agreements and long term Lease Agreements (20-5-5 or 30-5-5)
  • Space allocation planning in relation to P/L
  • FF&E design with brand acceptance
  • Building (C&T) design
  • Technological optimalisation and adjustment
  • Technological support, renovation and adjustment
  • Planning C&T
  • Project management C&T, FF&E, OS&E, IT,...
  • Monitoring C&T and FF&E reserve usage
  • Market benchmarking and professional P/L Operations
  • Turnkey development and delivery to investor
  • Delivery of a professional operational management team
  • Operational Performance Monitoring
to achieve the final objective : a property that produces a stable income allowing smoothly debt service. To achieve this we use a hospitality development framework.

Steps to a lease agreement

Quick Scan

Precedent to a site inspection we examine the project and the preliminary possibilities on the market from technical and hospitality point of view. If the team of experts sees the opportunity, then a proposal will be presented. If the outcome however is negative, no proposal will be made.

Hospitality audit

After a positive outcome of the Quick Scan and your acceptance of the audit agreement, we can start defining the project, decide on concept and space allocation, draft an operational profit and loss statement, and make a master budget for the real estate development based on objectives of all stakeholders.

Letter of Intent

The hospitality audit leads to a Letter of Intent, containing all the terms and conditions under which a final Lease Agreement can be negotiated during a period of 30 to 90 days after its acceptance. This LOI will often contain conditions precedent on development finance, building and operational permits, brand standards,

Lease Agreement

Once the parties are satisfied, the agreement is sealed in a final binding Lease Agreement, often containing some conditions precedent on timing, quantity and quality of the delivery. The lease is often the foundation for obtaining finance.