WS - C - NaviRetail Proposal

SCOPE OF WORK Phase 8 (Optional) Hotel Monitoring & Feasibility Study Collect Hotel Market Data 1 NaviRetail will gather relevant market data from existing properties in the Tiffin hotel market area. This data will help serve Tiffin for both future developments and the retention of existing hotel properties. Analyze Hotel Market Conditions 2 NaviRetail will evaluate the hotel market in Tiffin to measure the market rebound from the COVID-19 pandemic. This includes a review of data from previous years, including the pandemic, and comparison to current market conditions. Prepare Hotel Feasibility Study 3 NaviRetail will prepare a Hotel Feasibility Study for the purposes of building a proposed property in Tiffin and the feasibility of this project thereof. This will detail the construction costs, land costs, and include market data to show whether this project would be feasible or not, and to what extent. Why is this important? We believe that adequate hotel lodging space is a very necessary piece of a town's overall tourism strategy. This ensures that the tourist or business traveler is able to make all purchases locally when suitable hotel properties are available near their final destination. 16