Big Rocks First! Essential Upfront Steps for Resort Developments
The old adage “Big rocks first” certainly applies to resort development projects. Diving into details too soon while ignoring foundational issues is a recipe for failure.
Typical Site Survey Plan
What are the “big rocks” that must be prioritised early in resort development?
- Pre-Concept Stage: Conduct feasibility studies, analyze site suitability, clarify vision and goals
- Planning and Design: Partner with experienced planners and designers to create a sustainable, market-driven master plan
- Market Attunement: Research target demographics and conduct demand analysis to right-size and position the resort
- Risk Mitigation: Assess environmental, regulatory, economic and competitive risks; create contingency plans
- Sustainability: Set goals for energy efficiency, water conservation, waste reduction, and green operations
- Financial Feasibility: Develop realistic budgets and projections supported by market data
- Funding and Financing: Secure capital from investors who understand the extended timelines and risks
- Development Strategy: Chart strategic phases for design, permitting, construction, sales and marketing
Canggu Bali Conceptual Masterplan
Successful resort developers tackle these macro-level issues upfront before getting bogged down in design details. Get the big rocks in place from the start to build a solid foundation for the project. What “big rock” issues have you found most vital to address early on in resort projects?
Conclusion: Don’t let the urgency of tactical details overshadow critical planning, feasibility, risk and funding factors on new resort developments. Focus on the big rocks first to set your project up for success.
Next Steps:
- Conduct high-level feasibility and market studies
- Analyze site suitability and conceptualize vision
- Research experienced planners, designers and consultants
- Start drafting budget projections and financing plans
- Schedule a call to discuss the big rocks for your resort project
Thank you! Bert Bykes @ Contact
Unless noted, images by CREATOR’S & Tim Trad
Tags: Resort Development, Resort Planning, Beach Resorts, Eco-Tourism Resorts, Project Management, Development Strategy, Feasibility Studies, Master Planning, Risk Mitigation, Sustainability, Resort Budgeting