CLIENT
Private Estate
CLIENT INDUSTRY
Weddings, Events and Accommodation
SERVICES PROVIDED
Viability and feasibility study into the potential opportunities for developing leisure, tourism and events enterprises at the Estate
LOCATION
East Lothian, Scotland
DIVISION INVOLVED
- Tourism, Leisure & Events Consultancy
- Estate Management
- Architecture & Building Surveying
DATE
2017 – Ongoing
CHALLENGE
Our client wished to explore opportunities to further develop and enhance the existing leisure, tourism and events enterprise offered at the Estate. The existing wedding business and guest accommodation was operated by an external company, with constraints on the annual number of events.
Savills were appointed to assess the existing offer and make detailed recommendations on opportunities to maximise potential.
SOLUTION
Following a detailed analysis of the existing enterprise, including a review of the agreement with the external operator, it was recommended that the following changes are made:
- Enterprise brought back in-hand and operated by the Estate
- Seasonal marquee replaced by semi-permenant venue allowing for year round events
- Enhance existing accommodation and establish new
From the initial review, we were able to support the Estate through the transition process to implement these key recommendations. This included negotiating the early termination of the licence agreement with the operator, recruiting an experienced in-hand events team and developing a business plan and financial model for the initial five years.
We have subsequently been retained to provide external support with marketing requirements, sales targets and KPIs.
RESULTS
The recommendations have fully been taken on board, with the development of a new, bespoke events venue that is available for year round events.
The Estate have exceeded that sales targets for the first two years with the new operating model and are on track to exceed the target for Year 3.