StoneCreek Partners works with owners, architects, and planners, as well as consumer brand licensing organizations, in devising the nature of the built product to be developed on particular sites. Product concepting is the intention to offer the right product to the target guest, customer, shopper, tenant, or buyer.
Product concepting draws on numerous disclipines in exploring a built product - the potential market support, customer (end-user) needs and desires, guest trip motivation, place-making factors, guest experience programming, naming conventions, and of course, the expected financial results to be achieved.
Product concepting includes issues such as sizing and dimensions of floorplates for office buildings, merchandise price-points and number of sku's for a retail store or department, venue naming that creates a desired emotional resonance with end users, and means and methods in strategic marketing to reach the end user, among so many similar issues.
PRODUCT CONCEPTING AND INITIAL FEASIBILITY
Consultant will direct the creative process to establish the "big idea" for the Project, including such factors as overall lodging product concept, facilities, site layout, sizing, theming, design character, and expected target guest/customer for the product. All work in this phase is further evaluated and refined during formal Schematic Design.
The Product Concepting stage allows for initial fact-finding, initial Owner input regarding Project "big ideas" and design, establishment of baseline information for all aspects of the Project's design and implementation.
Consultant is capable of performing all aspects of this work phase, including creative site plan and design work. However, Owner may wish to retain additional creative resources to complete this phase of work. Design work in this phase is intended to establish baseline approaches and to allow finalization of the Project Master Plan (as later described), and to serve as the beginning point for Schematic Design. We have found that formal design efforts work best, when Owner has communicated all of its ideas and interests through an initial project concept, to the design team at the time of formal (schematic) design mobilization.
Tasks to be managed during the Product Concepting and Initial Feasibility Phase include:
Product Concept - Determination of likely target guest for Project, and initial determination of most suitable combination of service, amenities, and physical product quality to match the target guest niche;
Branding and Strategic Marketing - Consultant will work with Owner to establish initial ideas for branding the Project, including naming, logo, slogans, and other trade dress matters. Such branding and trade dress matters, and all strategic marketing issues, are pivotal and essential elements of Project implementation, and will be a task that likely flows through all design and implementation phases;
Zoning Study - Participate in required meetings with owner, local government officials and zoning specialists to determine the acceptable zoning envelope for the Project, for later work with the Project architect (to be selected) to design a site plan that conforms to the zoning envelope;
Local Permitting Issues - Identify how means and methods for local government review of construction drawings and related process for approval an issuance of building permits;
Local Taxes, Fees and Regulations - Identify local property taxes, hotel occupancy taxes, use permit fees, regulatory fees, and any other fees and taxes to be included in the Project’s various construction and operating budgets;
Local Sourcing and Procurement - Begin evaluation of quality of local trades, building materials, and labor pool, as well as country import processes, tariff schedules, and the like;
Preliminary Project Development and Construction Budget - Assist team with preparation of preliminary pre-planning and development budgets and a final development budget for submission to Owner and Lenders. Budgets at this time are often rough "order of magnitude" as detailed information from the local region may not yet be available;
Preliminary Project Schedule - Assist team in establishing an initial project schedule, verify project schedule;
Possible Integration of Condominiumization Concept into the Project - Consultant will work with Owner to review various hotel financing and ownership approaches, to arrive at a structure best suited to the Project's circumstance.
