Hotel Apartment Feasibility Study – Addis Ababa, Ethiopia የሆቴል አፓርትመንት የአዋጭነት ጥናት

Product overview
This study assesses a serviced-apartment hotel aimed at business travellers, conference delegates, diplomats and leisure visitors in Addis Ababa. It was prepared in 2024 for an actual proposed project, to support its land-allocation request, and has been anonymized, restructured and edited for this 2026 edition. Edition notes add 2025–2026 market developments, including the recovery in international arrivals, Addis Ababa’s hosting of COP32 in 2027 and the branded-hotel pipeline, and a model review explains where the original financial projections need care.
Main chapters
1. Executive summary, conclusion and recommendation
2. Introduction: sponsor profile (anonymized), project overview, facilities and benefits
3. Market study: hospitality sector, occupancy, tourist and conference arrivals, international organizations, demand projection, hotel supply, marketing strategy, price survey and SWOT
4. Technical study: site and zoning, building design, apartment layouts and furnishings, F&B, spa, laundry and common areas, technology systems, equipment and costs, capacity, supplies, power and water
5. Organization and manpower: structure, department functions, 79-person salary schedule, training plan
6. Implementation schedule
7. Financial study: investment, financing, assumptions, room rates, revenue, operating costs, income statement, ROI, cash flow, NPV, IRR, payback and sensitivity
8. Annexes 1–7: financing by item, depreciation, operating costs, income statement, cash flows and loan schedule; Annex 11: model consistency and edition notes; references
Key analytical components
▪ 46 numbered tables and 6 figures, including 5 charts and an organization chart
▪ Investment of Birr 431.8 million (2024 prices) with a 30/70 equity–loan structure and an item-by-item financing table
▪ Room-rate and revenue model for 44 apartments plus F&B, wellness, spa and laundry; 10-year income statement and cash flows
▪ Reported NPV Birr 693.7 million and IRR 51%, with recomputed values and a flat-revenue sensitivity in Annex 11
▪ Competitor apartment rates (December 2023), UNECA conference statistics and a three-star-and-above hotel supply projection
Practical applications
▪ A structural template for hotel, serviced-apartment or mixed-use hospitality feasibility studies and land-lease applications in Ethiopia
▪ Reference checklists for apartment furnishings, F&B, spa, laundry and technology systems
▪ Market background on Addis Ababa as a conference and diplomatic hub
▪ Teaching material for hospitality project appraisal, including a worked review of common modelling errors
File formats
Editable Microsoft Word (.docx) and print-ready PDF, A4, 72 pages including cover and front matter; English text with the title also in Amharic on the cover.
Important limitations
▪ Costs are at 2024 prices and room rates were converted at Birr 100 per US dollar; both need re-basing.
▪ The original model calculates loan interest on Birr 1.95 million instead of the Birr 302 million loan, grows revenue 10% a year from Year 5 although the text holds it flat, and uses an incorrect NPV discounting convention. These are disclosed and quantified in Annex 11, not corrected.
▪ Some operating-cost assumptions (labour, maintenance, insurance) appear low, and the nightclub has no revenue or cost line.
▪ The original occupancy survey shows patterned figures that should be verified; tourism data end in 2022, with 2025–2026 updates added as edition notes.
D. What’s included
File Description
Editable report (.docx) Full study: 7 chapters, annexes, model review and references, with automatic contents and lists of tables and figures
Report (.pdf) Print-ready PDF of the same content, 72 pages
Front matter Contents, lists of tables and figures, abbreviations
E. Target customers
▪ Investors and developers considering hotel, serviced-apartment or mixed-use projects in Addis Ababa
▪ Business and investment consultants preparing hospitality feasibility studies or land-lease applications
▪ Bank and development-finance credit analysts
▪ Hotel operators and real-estate firms assessing the serviced-apartment segment
▪ Students and lecturers in hospitality management, real estate and project a

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