Antelope Canyon Highest & Best Use Study

Location: Page, Arizona
Client: Fuel Development LLC / Antelope Canyon Navajo Tours
Planning Services: Market Feasibility, Impact Study, Grant Support
Scale: 10 acres – Development Budget – US$30 million

Antelope Canyon is an iconic cultural landmark located in the Navajo Nation just outside the City of Page, Arizona. The Client, a Navajo family company offering guided tours through the slot canyons, was considering new development to increase tourism and awareness to their slot canyon site in competition with additional family concession operations. The proposed development was sited on approximately 10 acres of land near the tour entrance on State Route 98. The initial planned use was a multi-purpose visitor center, which would provide a central point of attraction for tourists to enter the property.  Additional uses evaluated included accommodations, signature restaurant, retail, C-Store, and themed excurions.

Pro Forma Advisors conducted a market and financial analysis of the Project, including research of the market context for the proposed uses, review of available markets, market characteristics, competitive facilities, and relevant comparable facilities.  Pro Forma Advisors has also examined the Project Site as it relates to the development of other complementary uses supported by market demand and feasible from the financial perspective.