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Tourism Investment & Feasibility Analysis Training Course

For tourism funds and developers: assess hotel, resort and attraction projects through market studies, financial models, risk, financing and operator terms.

TDG · Tourism Development & Destination GovernanceAll Levels#3098ClassroomEnglish , Arabic
Duration
5 Days
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Free substitution at any time · 30+ days' notice: full refund minus 10%. Cancellation policy

Course Overview

The Tourism Investment & Feasibility Analysis Training Course equips tourism fund managers, developers, and investment officers with the analytical tools needed to judge whether a hotel, resort, attraction, or mixed tourism project deserves capital. Across the Gulf and Africa, sovereign vehicles, development funds, and private developers are committing long-term capital to destinations whose demand is still forming, while the same projects carry seasonal revenue, heavy construction costs, and returns that depend on how well the asset is operated after opening. The course is written from the viewpoint of tourism funds and developers. Participants learn to frame an investment thesis, test it against evidence, and take a clear position for an investment committee. They examine destination and site selection, demand and supply analysis, competitive sets, positioning, facilities programming, and the links between concept, construction budget, and operating performance. Attention is given to projects in emerging destinations, where market data is thin and judgment and scenario testing matter most. Participants build a financial feasibility model using recognized hospitality measures such as occupancy, average daily rate, revenue per available room, and gross operating profit, with operating statements structured on the Uniform System of Accounts for the Lodging Industry (USALI). They apply discounted cash flow, net present value, internal rate of return, and payback, and test results through sensitivity analysis. Financing structures, public-private partnerships, government incentives as a general policy tool, land arrangements, management and franchise agreements, environmental and social risk with reference to the IFC Performance Standards, and exit options complete the scope. The course is delivered through project case studies, spreadsheet modeling exercises, contract term comparisons, investment committee simulations, and a final investment workshop. Participants leave with a market study outline, a working feasibility model, a risk register, an operator term sheet checklist, and an investment committee paper they can adapt to their own projects.

Learning Objectives

  • Frame a tourism investment thesis around a destination, a market gap, and a clear return logic.
  • Compare hotels, resorts, branded residences, attractions, and mixed projects as investment classes.
  • Evaluate destinations and sites using access, demand drivers, infrastructure, and land conditions.
  • Conduct demand and supply analysis, including competitive sets and pipeline review.
  • Translate market findings into a concept, facilities program, and positioning.
  • Estimate development budgets, pre-opening costs, and capital reserves for tourism assets.
  • Project operating performance using USALI structures and recognized hospitality measures.
  • Build a discounted cash flow model and calculate net present value and internal rate of return.
  • Test investment cases through sensitivity and scenario analysis for ramp-up, seasonality, and cost overruns.
  • Compare debt, equity, fund, and public-private partnership financing structures.
  • Assess management, franchise, and lease arrangements and their effect on owner returns.
  • Identify market, construction, operating, environmental, and social risks with suitable mitigation.
  • Prepare an investment committee paper with a clear recommendation.

Who Should Attend

This course is designed for investment managers and analysts in tourism funds, sovereign and development funds, and family offices, as well as development directors, project sponsors, and asset managers at hotel, resort, and destination developers. It is equally relevant for officials in tourism ministries and investment promotion agencies who assess or attract tourism projects, and for bankers, credit officers, and development finance staff who assess and lend to them. Professionals in real estate companies entering hospitality, destination development authorities, hotel owners' representatives, feasibility consultants, and advisers to public-private tourism partnerships will find the course directly applicable. It is particularly valuable for teams in the Gulf and Africa that are deciding on projects in emerging destinations, and for technical, hotel operations, and project staff moving into investment and asset management roles.

Learning Outcomes

  • By the end of this course, participants will be able to:
  • Frame a tourism investment thesis with a clear market gap and return logic.
  • Assess a destination and site against access, demand, infrastructure, and land conditions.
  • Review market studies critically and identify weak assumptions.
  • Convert market findings into a concept, facilities program, and development budget.
  • Project hotel and attraction revenue and operating profit using recognized measures.
  • Build a working feasibility model with discounted cash flow, net present value, and internal rate of return.
  • Test a project through sensitivity and scenario analysis.
  • Compare financing structures and public-private partnership options for tourism assets.
  • Evaluate management, franchise, and lease terms from the owner's position.
  • Maintain a risk register covering market, construction, operating, and social risks.
  • Write and present an investment committee paper with a clear recommendation.

Course Outline

Course Outline:

Day 1

Tourism Investment Thesis and Market Analysis

  • Tourism as an asset class: hotels, resorts, branded residences, attractions, and mixed projects
  • Who invests and why: tourism funds, sovereign vehicles, developers, and owner-operators
  • Destination and site selection: access, demand drivers, infrastructure, and land conditions
  • Demand and supply analysis, competitive sets, and development pipeline review
  • Working with thin data in emerging destinations and judging consultant market studies
  • Practical application: participants outline a market study and investment thesis for a resort project
Day 2

From Concept to Development Budget

  • Positioning, target segments, and turning market findings into a facilities program
  • Room count, public areas, food and beverage, and revenue-generating space decisions
  • Development budgets: land, construction, furniture and equipment, and professional fees
  • Pre-opening costs, working capital, reserves, and contingency
  • Program, phasing, and the cost of delay in remote or new destinations
  • Sustainable design choices and their effect on capital and operating costs
  • Practical application: participants build a facilities program and a development budget
Day 3

Financial Feasibility Modeling

  • Occupancy, average daily rate, revenue per available room, and ramp-up assumptions
  • Operating statements on the USALI structure and gross operating profit
  • Attraction models: visitor numbers, ticket yield, and secondary spending
  • Discounted cash flow, terminal value, net present value, and internal rate of return
  • Seasonality and its effect on cash flow and debt service
  • Cross-checking the model against comparable projects and independent benchmarks
  • Practical application: participants build a working feasibility model in a spreadsheet
Day 4

Financing, Contracts, and Risk

  • Capital structures: debt, equity, fund vehicles, and development finance
  • Public-private partnerships, land leases, and government incentives as a policy tool
  • Management, franchise, and lease agreements: fees, term, performance tests, and owner controls
  • Risk register: market, construction, operating, currency, and reputational risks
  • Environmental and social risk, community impact, and the IFC Performance Standards
  • Practical application: participants compare operator terms and test the model with sensitivity analysis
Day 5

Investment Decisions and Asset Value

  • Writing the investment committee paper and presenting a clear recommendation
  • Scenario analysis and setting conditions for approval, deferral, or rejection
  • Portfolio view: balancing asset types, destinations, and development stages
  • Asset management after opening and monitoring performance against the feasibility case
  • Exit options: sale, refinancing, and sale and manage-back arrangements
  • Reporting to fund boards and investors on project progress and returns
  • Final workshop: participants present a tourism investment case to a simulated investment committee

Upcoming Dates

Selected date

Doha · 12 – 16 Sept 2027 · Classroom

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CityDatesPrice per ParticipantEarly Bird
Cape TownScheduled
9 – 13 Nov 2026€5,100—
CasablancaScheduled
16 – 20 Nov 2026€4,300—
DammamScheduled
22 – 26 Nov 2026€4,200€3,780until 2 Nov
DohaScheduled
22 – 26 Nov 2026€4,400€3,960until 2 Nov
DubaiScheduled
29 Nov – 3 Dec 2026€4,400€3,960until 9 Nov
ErbilScheduled
6 – 10 Dec 2026€3,100€2,790until 16 Nov
IstanbulScheduled
7 – 11 Dec 2026€4,700€4,230until 16 Nov
JeddahScheduled
13 – 17 Dec 2026€4,200€3,780until 23 Nov
KigaliScheduled
21 – 25 Dec 2026€5,100€4,590until 30 Nov
Kuala LumpurScheduled
21 – 25 Dec 2026€4,400€3,960until 30 Nov
LisbonScheduled
28 Dec 2026 – 1 Jan 2027€5,400€4,860until 7 Dec
LondonScheduled
4 – 8 Jan 2027€5,600€5,040until 14 Dec
MadinahScheduled
4 – 8 Jan 2027€4,200€3,780until 14 Dec
MadridScheduled
11 – 15 Jan 2027€5,400€4,860until 21 Dec
MakkahScheduled
18 – 22 Jan 2027€4,200€3,780until 28 Dec
ManamaScheduled
18 – 22 Jan 2027€4,700€4,230until 28 Dec
MuscatScheduled
25 – 29 Jan 2027€5,300€4,770until 4 Jan
OnlineScheduled
31 Jan – 4 Feb 2027€1,700€1,530until 11 Jan
ParisScheduled
1 – 5 Feb 2027€5,700€5,130until 11 Jan
Sharm El-SheikhScheduled
8 – 12 Feb 2027€4,300€3,870until 18 Jan
SingaporeScheduled
15 – 19 Feb 2027€6,700€6,030until 25 Jan
AbujaScheduled
22 – 26 Feb 2027€5,100€4,590until 1 Feb
AccraScheduled
22 – 26 Feb 2027€5,100€4,590until 1 Feb
AmmanScheduled
28 Feb – 4 Mar 2027€3,100€2,790until 8 Feb
AmsterdamScheduled
8 – 12 Mar 2027€5,400€4,860until 15 Feb
BakuScheduled
8 – 12 Mar 2027€4,800€4,320until 15 Feb
BarcelonaScheduled
15 – 19 Mar 2027€5,400€4,860until 22 Feb
BeirutScheduled
21 – 25 Mar 2027€4,000€3,600until 1 Mar
BerlinScheduled
22 – 26 Mar 2027€5,800€5,220until 1 Mar
CairoScheduled
28 Mar – 1 Apr 2027€3,300€2,970until 8 Mar
DohaScheduled
12 – 16 Sept 2027€4,400€3,960until 23 Aug

Available in: Istanbul · Dubai · London · Doha · Amsterdam

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