Tourism and Hotel business
Assessment of real estate objects and technical monitoring of construction.
Our client’s need:
Baker Tilly was hired as a real estate appraiser for getting borrowing and further monitoring of the construction progress, determination of the volume of actual construction and installation works performed, assessment and forecast of future expenses and estimation of percentage of construction in progress.
Baker Tilly analysis revealed several deficiencies in the accounting for construction materials and services, which were corrected promptly as a result of a thorough analysis of actual capital expenditure on construction and installation works. Also, as part of the contract, Baker Tilly team analysed project’s data, where the construction volumes and total project cost of the hotel were clarified and adjusted.
The results of the work were presented to the client, as well as to international financial institutions for the financing of the construction project.
Baker Tilly was approached by client to develop a business project of a tourist resort for application to the Russian-Kyrgyz Development Fund (RKDF) and communication with potential investors.
Baker Tilly's team conducted marketing research of the tourism services market in the Issyk-Kul region (planned location of the resort), developed a financial model of the potential resort, as well as prepared a business plan in the RKDF format, a presentation and proposal for potential investors.
The documents were accepted by the RKDF without any comments.