Market Research

This week in Independent Study and Mentorship, school has just begun once more since Spring Break is now over. Throughout the "break", I put in over forty hours at work in development for NewcrestImage. This has been one of the first Spring Breaks where I have been actively working and expanding my knowledge every single day. It signifies a shift in my motivations and perspective on life as I am constantly bringing in new information and challenges every single time an opportunity is presented to me. In work, I have conducted market studies for potential markets the company is deciding to build hotels in. This means visiting the market and meeting with influential people/organizations such as the Convention & Visitors Bureau, Chamber of Commerce, Economic Development Center, Planning & Zoning, and much more. It is important to meet with these individuals because they deal with the city directly and typically have the answers to any and all questions one could ask about the location. After visiting these locations, I made stops to all competitive hotels to see the condition they were in and find any other information or important details I could gather. After compiling all this information, I have been creating a PowerPoint showcasing the most important aspects and eventually showing it to the owners to see whether building in the market/location makes economical sense. This has shown me the process for deciding where the build/buy hotels and will be influential for my future. I must continue to learn and challenge myself so that I can make a difference in my life along with the lives of others.