Economics: Tourism & Hospitality
AKRF's economics experts offer its clients strategic and creative thinking to help formulate exciting and unique tourism programs and tourist attractions.
Tourism and the hospitality industry are key contributors to the economies of urban and rural areas alike. Attracting and entertaining visitors and lodging overnight guests provide opportunities to capture consumer expenditures in patterns that are often different from local households.
Our analysts project visitation from realistic trade areas--and not just a radius from a point. We evaluate the performance of competitive areas or attractions, and quantify the demand for new hotels and lodging facilities.
Clients who have utilized our tourism and hospitality services include real estate developers, state and municipal finance authorities, economic development agencies, and operating corporations such as casinos and convention centers, local development corporations, and museums and cultural facilities.
The scope of our services includes:
- Market analysis
- Visitation projections
- Sales and revenue projections
- Facility programming
- Strategic development planning