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2 East South Street
Galesburg, IL 61401
Major in Economics, Minor in Statistics
Describe the feasibility study you are undertaking.
The feasibility study will be done to determine whether or not a new hotel will be beneficial. If the data analysis demonstrates that the developers are not going to get their money’s worth, then the hotel plan should be stopped. In order for me to determine this, I am going to be using data from hotels that have similar features to the one that is being proposed.
As of now, I have graphed the data I gathered from Galesburg hotels and compared it to ones in Chicago. This will help me predict what the occupancy rates would be for this new hotel and how much revenue it would bring in. Stage 2, which I will soon begin working on, focuses on three rival hotels and the amenities that they offer. Through this, we can judge what different amenities can be offered by the new hotel to attract more visitors.
How did you hear about this opportunity?
This research project was all thanks to Professor Ole Forsberg, my statistics advisor. He was contacted by developers working on this new hotel and was asked if he could find someone that would be willing to do some additional statistical analysis for them. Knowing that this would be a great learning experience for me as an economics major, he contacted me.
What about this project are you most excited about?
I am looking at ways in which I can demonstrate to myself and others that I can apply the knowledge I have gained here at Knox to real life situations. This opportunity really allows me to tackle that. It gives me the learning experience of what people will be looking for in statistical research and business.