Hospitality industry news, articles, publications, trends, tips, ideas, strategies and best practices … How to Write a Persuasive Hotel Business Plan OK, so you have decided to realize your dream and open your own hotel. You have thought out an amazing concept delivering unparalleled guest service. The next step would be to write a hotel business plan.
Okay, so we have considered all the requirements for starting a hotel business. What is the Essence of the Hospitality Industry?
All over the world, the hospitality business is being seen as a very serious trade and the reason for this cannot be farfetched. The reason the hospitality business — especially hotel business is being taken seriously is because of its relationship with the tourism industry.
Either locally or internationally, one of the ways to make people who arrive at unknown places at ease and making them feel comfortable is by having a very relaxed hotel in place for them to lodge in.
This is one of the reasons why the hotel business continues to witness a boom. Why Start a Hotel Business? Starting a hotel business could eventually be one of the best things to attain for yourself.
This is because of the lucrative nature and the prosperity involved in this industry. Every day foreigners, as well as local migrants and business people travel from one point or the other and the option they are faced with is staying in hotels.
It is pertinent to note that there are different categories of hotels, like the 5 star, 4 star or even the 3 star hotels. One of the essential things that is unique to each category of hotel, are the facilities that make up each.
Writing a Business Plan Whatever type of hotel category you may have is in view, there is always the most important step to take in making your business stand out, as well as succeed in the long run. What can this be? Well, that is the hurdle of writing a business plan.
One of the reasons why writing a business plan might be one of the best things to do is this. It helps you stay focused whilst trying to build your business to the height you want it to be. The various segments and technicality involved, also requires that a deep and thorough calculative approach is used to arrive at the best of projections for your business.
Writing a business might not pose too great a threat as you might think. This is because it entails using a sample hotel business plan to write yours. You too have the wherewithal to do so, as a well put together business plan is available to you below. When people lodge in hotels, they have the options of subscribing to other services the hotel offers; services like feeding, drinks, laundry, fitness center, swimming pool, conference room and business room, amongst others.
As a matter of fact, the facilities provided by some hotels may range from a basic bed and storage wardrobe, to luxury features such as en-suite bathrooms, mini parlor et al.
It is the norm for big hotels to provide additional guest facilities like swimming pool, conference center, business center, childcare, self-service laundry, fitness center and social function services. In some countries, hotels are required by law to serve food and drinks to all their clients that lodged in their facility while in some country, you would have to choose the additional services you want from the hotel.
The bottom line is the higher the amount you pay in hotels, the more the services you are entitled to. Starting a hotel business is capital intensive and it is considered a long term investment because it takes a while for the owners to breakeven and start making profits.
No doubt it takes a big time investor to consider starting his or her own hotel business, which is why loads of hotels are owned by groups of investors.
One good thing about the hotel business is that the business can grow so big that it will not only have active presence in key cities in the country where it started from, but in major cities in all the continent of the world. It is important to state that hotel operations vary in size, function, and cost which is why hotels are classified into different grades two star hotel, five star hotel, seven star hotel et al.
We are certain that our values will help us drive the business to enviable heights and also help us attract the number of clients that will make our hotel fully booked all through the year. We are going to be a customer-centric hotel with a service culture that will be deeply rooted in the fabric of our organizational structure and indeed at all levels of the organization.
With that, we know that we will be able to consistently achieve our set business goals, increase our profitability and reinforce our positive long-term relationships with our clientele, partners, and all our employees as well.
Our hotel facility will be decorated in an exquisite and elegant facade, so much so that it will be a conspicuous edifice in the city where it is located.A FREE Sample Hotel Business Plan Template.
Hotel Business Overview; The hospitality industry has been in existence from time immemorial and it is still waxing strong simply because people can’t do away with the services they offer.
Strategic Business Plan For any new project, post the initial feasibility study, it becomes important to evaluate what will be the initial strategy on the ground, from year one to year five. To achieve the financial projections made in the study, a road map is necessary for the property to achieve projections.
The service will also enable those in the hospitality industry business to buy and sell goods in a more efficient and cost effective manner. By taking advantage of available technology and targeting a specific market segment, Tinner Corp.
has developed a successful and profitable plan for their business. Strategic Business Plan For any new project, post the initial feasibility study, it becomes important to evaluate what will be the initial strategy on the ground, from year one to year five. To achieve the financial projections made in the study, a road map is necessary for the property to achieve projections.
I hope this free sample will help you write a persuasive hotel business plan. Because no investor or lender will be interested if you cannot present a clear plan.
Follow your dreams and go for it!/5(). Hospitality businesses such as hotels and conventions can use this fill-in-the-blank business plan.
Free to download and print.
Hospitality Simple Business Plan. Hospitality businesses such as hotels and conventions can use this fill-in-the-blank business plan. Sample text from Hospitality Simple Business Plan: BUSINESS PLAN. OWNERS.