Miami Wilds Waterpark and Hotel Market Feasibility Study Miami Waterpark and Hotel Provides New Florida Destination Opportunity
After years of negotiation with Miami-Dade County and the completion of newly revised plans, the developer of the Miami Wilds waterpark and hotel needed a new market analysis in order to re-assess the viability of the project and to support discussions with potential operating partners.
The Design Solution
The Advisory Services practice at HKS led a review of the size and quality of the resident and tourist markets, the attractions market at the regional, state, and national levels, and the hotel market at the regional and national level. During the process, key comparable waterparks were selected to serve as the primary benchmarks for recommendations on the Miami Wilds development. Interviews with key user groups of both the waterpark and hotel were also conducted to further inform the HKS analysis.
The Design Impact
Based on the market analysis and the HKS team’s professional opinion, HKS provided demand potential and development recommendations to the client. As part of the deliverable, the firm recommended positioning and target market segments, estimated demand for waterpark attendance and lodging room nights, recommended topline pricing, and estimated net per capita visitor revenue and room night revenue. Scenarios were presented for a branded and unbranded option for the waterpark and hotel. The client relied on the work by the HKS Advisory team to finalize permitting with the county and seek development and operating partners. The family-friendly destination with a water park, boutique hotel, and pedestrian spine is projected to open in 2023.