As Master Planning Consultants, StoneCreek Partners works in support of project and district-level master-planning efforts, led by planners and architects.
StoneCreek's work begins with the support of owner goals and objectives, and the identification of all contraints and opportunities for a particular project or program. Many organization use the SWOT acronym (Strength, Weaknesses, Opportunities, and Threats, or, GOSPA (Goals, Objectives, Strategies, Plans, and Actions) when the framework of a formal strategic plan is desired.
A "master plan" is essentially a complete integration of all market, financial, end-user (consumer, shopper, guest, tenant, etc.), environmental, regulatory, social, and community factors that impact the form and nature of the built environment. Master planning seems to work best when conducted in a highly "iterative" process but with calculated explorations on vital "lateral" issues.
In some instances, we work with property owners and developers prior to an owner retaining a design team. Our work in this instance focuses on owner's financial, business, and other objectives and how such objectives may impact the master plan. As well, this pre-design work allows for an owner to explore and confirm project and company objectives, before the "seduction of design process" begins.
A project master plan is essentially a business plan with all supporting detail including implementation issues. Just as the Concepting Phase is the home for baseline creative work during Project planning, the Master Plan phase is the home of final feasibility checks, refined implementation planning, and a review of any and all details and buy-offs from Owner prior to commencing with the sequence of full-scale design work. In many organizations, the work product of the Project Master Plan created in this phase of work is a useful tool for senior management presentations and final internal approvals to proceed.
Once prepared, the Project Master Plan will evolve and be updated as further Project planning and design is completed.
Facility (Project) Operating Budget - This includes the first preparation of monthly operating projections for the pre-opening period and first operating year, financial projections at the hotel departmental detail (Rooms, F&B, Telephone, Convention etc.), and initial staffing considerations. Expected average daily guest room rates, revenue contributions from other operated departments, and departmental profitability are closely evaluated in this operating budget;
Preliminary Strategic Marketing Plan - The initial plan for establishing the Project in the regional, if not worldwide, real estate or hospitality market, and all means and methods for maintaining ongoing sales and marketing presence;
Competitive Marketplace - Analysis and information regarding the defined marketplace in which the Project will compete, particularly focusing on competitive facilities, regional travel and visitation patterns, room rates, seasonality issues, and the like;
Plan and Project Concept - The site plan, land use plan, and/or the project concept.
Maximum Justifiable Investment - As a useful check on all Project activities, Consultant will prepare and maintain an analysis of "maximum justifiable investment" for the Project, based on expected revenues and bottom-line (EBITDA) profitability;
Exit Strategy - Assist Owner in refining an investment holding and exit strategy for the Project, to assure that all Project details conform to Owner's method for return of capital invested.
We note that a version of the Project Master Plan is typically useful as a Project Financing Package, as the materials are essentially the same.
