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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. It’s like a road map to the opening. However, as a seasoned Hotel Management Company , we have seen that this is where most entrepreneurs get stuck.
Why? Many do not have the time and don’t know what to write or how to do the financials. But until you finish your business plan, you will not be able to get the financing either. So you end up with ideas sitting in your head not realizing your dream.
Really it is not that difficult to make a good hotel business plan. It is merely a structured summary of your idea. Most people try to include everything about their hotel concept in the plan. This leads to an indigestible super novel-like bookwork, aka a mess.
The key is, knowing what to include, and what not to include in your hotel business plan. Create a clear road map for success. Excite investors rather than bore them to death like most business plans full of redundant information do. And you need to lead readers down the exact path you want.
One of the main challenges for example is that after reading the first page most businesses often don’t fully understand what the hotel is all about. For investors and lenders, it is crucial they can quickly comprehend your plan, without reading the whole document.
Hotels 101: The Basics of Business Planning
We have put together a hotel business plan template to help you on your way. Check out our approach based on 10 critical points, being:
- Executive Summary
- Company Analysis
- Industry Analysis
- Customer Analysis
- Competitive Analysis
- Strategic Plan
- Operations Plan
- Management Team
- Financial Plan
- Key Milestones
Steps of your Hotel Business Plan
Let’s dive into the step-by-step checklist of what your hotel business plan should look like.
Infographic by Xotels
1. Executive Summary
This first part should consist of two main parts, being:
- Mission Statement (Introduction): a 1 line company description only the essence of your hotel (not 2 lines or a paragraph). It explains why you are in business or which huge need you are solving, that currently is not being met. For example in the case of Qbic Hotels “Moving modular hotels into under-utilized real-estate to reduce build-out cost and time.”
- Objectives : What do you hope to accomplish (i.e. “Reach an annual occupancy of 90%”).
2. Company Analysis
More detailed information on the USPs (unique selling points) of your hotel concept.
3. Industry Analysis
Information on the current industry trends and the current state of the market and how this will impact your hotel. This is needed as investors want to be sure you really understand the hotel industry. This acts as the foundation on which decisions such as trends and developments to follow will be based.
4. Customer Analysis
In-depth information on your target market, including geographic, demographic, socioeconomic, psychographic, and behavioural segmentation details. Which are the types of guests who will mostly stay at your hotel? Explain which features will be meeting the needs and wants of these main segments when thinking of:
Basically, how will consumers answer this question ‘Why my hotel?’
Aim to break it up to the point value can be easily communicated (do not make it too overcomplicated). Think of the following examples:
- Psychographics: interests, lifestyles, personality, values, opinions, and attitudes
- Behavioural segmentation: purchasing behaviour, level of engagement, customer loyalty
- Demographics: gender, age, marital status and education
- Geographics: location (country, state, region, city)
Any of the above examples of hotel segmentation can, if described well, be of great value to your business plan. An example of this could be a hotel located in a beach town, where you should be able to describe how demographics and psychographics differ from summer to winter time. Especially, since this example is typically known for lower demand in winter which you could be compensating for with the right marketing strategy on hand.
5. Competitive Analysis
A study of your local competition or global concept competitors, with each of their strengths, weaknesses, occupancy rates and market share ( SWOT analysis ). And don’t forget the most important part; what differentiates you from them. What makes you stand out?
Ask yourself: “can I add value to a specific area”, especially when it comes to hotel-dense areas like city centres or major destinations.
6. Strategic Plan
This exists of 3 parts:
- Marketing : How exactly will you attract customers/guests? How will you position yourself? What will your message be to the different segments of your business mix? How will your direct marketing work? What will be the plan for your hotel website, SEO, SEM and SMM? Will you do offline promotion? In short, your hotel marketing strategy should cover everything there is to know about how to market your hotel.
- Distribution : Which 3rd party channels will you use and how will you manage availability? What technology will you need?
- Revenue management : What pricing and yield techniques will you use? What will your payment and cancellation policies be? Which room types will you be selling, and how will they be individually marketed? How many revenue scenarios will I create? Where can I compensate income/demand streams when necessary?
Make sure you have the capabilities to plan out a strong marketing, distribution and revenue management strategy.
Things get complicated rather fast, and choosing to outsource hotel and revenue management is likely to give you a strategic advantage, during the planning phase, and the execution of your business plans.
7. Operations Plan
How will you run your hotel? Think of the following elements:
- How many staff and supervisors will you need?
- What are their job descriptions/responsibilities?
- What background and experience should they have?
- When should they start?
- What are your service standards?
- Will you develop manuals?
- Which supplier will you use?
- How will you manage inventory?
8. Management Team
Include the bios of your team. Focus on what uniquely qualifies you to make your hotel such a success. Having a great team is the key to success , and stakeholders will be impressed with a thorough explanation of the added value everyone brings to the table.
9. Financial Plan
Provide the start-up costs of the hotel (capital investment), the ongoing business costs, operational expenses and revenue projections for the next five years. These figures should be always based on your Hotel Feasibility Study . The KPIs to look at include expected occupancy, ADR (Average Daily Rate) and RevPAR (Revenue per Available Room).
If you are raising money , outline how much funding will be needed and when. Explain how you will generate a return on investment for investors, or when lenders will be paid back.
10. Key Milestones
These are the most important achievements which once they have been completed, will make your hotel more likely to succeed. Think off:
- Location selection
- Permits & Licenses
- Build-out / Construction of the Hotel
- Staffing and Training
- GOP Break-even
- NOI Break-even
Each time one of the key milestones is achieved, the risk of lenders or investors decreases . And once your last key milestone is reached, the chance of success is more or less guaranteed.
Provide any other relevant information here. Don’t clutter the main sections of your hotel business plan with too many details. Rather support them with attachments in this part.
Putting Your Plan into Action
Many people have great business ideas. But that really doesn’t matter. The difference between dreamers and entrepreneurs is the action mindset. Are you ready to ship your idea to the market?
The first step is to put your ideas on paper. 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!
Need help to Develop and Manage your Hotel Concept?
Our hotel consultants at XOTELS have helped hundreds of hotels to develop and optimize their businesses.
With cost-effective implementations and best practices developed over years of experience, successful business as a boutique hotel , resort, B&B, aparthotel, hostel, or any other lodging concept for that matter, is guaranteed.
Hope this template has helped you get inspired to start your own hotel business .
Best of luck in your endeavours!
PS. Get in touch with us if you need help developing and managing your hotel concept.
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About the author: patrick landman.
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From idea to execution: 10 sections to include in your hotel business plan
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By Lana Cook
Do you love connecting with people from all over the world who share your passion for travel? Don’t want to work a typical 9-5 job and instead want to build a business where every day is different, and you own your schedule?
Opening a hotel business is a dream many entrepreneurs have, but it can be a daunting venture to start. A hotel business plan is a critical first step for business owners to turn their dreams into reality. A strategic plan allows one to study the hotel industry, identify their hotel’s unique point of view, and outline how exactly they will reach their goals.
Read on to learn more about the 10 sections to include in your hotel business plan, tips for creating an effective plan, and key things you need to start your new hotel business.
What is a hotel business plan?
A hotel business plan is a detailed document that identifies your business’s goals, objectives, and strategies for success. It includes market research and a roadmap for building and operating your business.
Why do you need a hotel business plan?
Studies show that entrepreneurs who finished their business plan were twice as likely to succeed in growing their business than those with no plan. A hotel business plan:
- Helps you identify whether you have a viable business idea
- Provides a detailed roadmap on what you need to accomplish and why
- Gives potential investors insight into your business idea and confidence that you can be successful
- Keeps you on track as you start to execute the different tactics outlined in your plan
- Identifies critical milestones for you and your team to reach
Your plan does not have to be static and should change over time as your business grows and evolves. Your first draft is a starting point to help guide your strategy and instill confidence in potential investors.
10 sections to include in your hotel business plan
Whether you’re starting a small boutique hotel, a cozy B&B, or a 5-star resort, you will need to address the following sections in your hotel business plan.
1. Executive summary
An executive summary is the most essential part of your business plan. It should concisely explain the purpose of your business and why it will be a success.
Include your mission statement explaining why your hotel exists and its overall goal. For example, Capella Hotels & Resorts ’ mission is to combine tradition, discovery, individuality, and twist of the unexpected to create the perfect stay for each guest.
You should also include your vision statement that clearly describes your hotel’s purpose for being in a single sentence. For Capella Hotels, its vision is to embody excellence in the craft of hospitality.
We recommend writing your executive summary as the final stage, as it should summarize the goals and objectives laid out in your plan.
2. Company analysis
Your company analysis is where you can dive into your hotel’s competitive advantage. Ask yourself what makes your hotel unique. Why would guests want to stay with you instead of your competitors?
In this section, identify your brand’s identity and the goals and objectives you want to accomplish. Outline how many rooms and room categories your property will have. For example, will you offer a hybrid hospitality model with dorms, single rooms, and suites? Explain what ancillary revenue sources you’ll offer, like in-room food and beverage options, welcome drinks, or airport shuttles.
Use storytelling to communicate your excitement and passion and make it clear what your hotel will bring to the hospitality industry that hasn’t been done before.
3. Industry analysis
As a business owner, you must be prepared for forces outside your control. You will need to conduct a market analysis that looks at the hospitality industry to identify micro and macro trends that may impact your business. Look at:
- Economic trends
- Environmental trends
- Political trends
- Global health trend
- Technology trends
For each trend, identify how it will impact your business and ways to mitigate risk or take advantage of opportunities.
For example, digital check-in technology has increased across the hotel industry with the rise of tech-savvy guests, new innovative software providers in the market, and labor challenges. Therefore, you should consider what guest engagement solutions you’ll include at your hotel.
In addition to trends, look at the history of the hospitality industry, its current size, and how it’s expected to grow in the short and long term. This research will impact the rest of your plan, especially your marketing and finances.
4. Customer analysis
What type of hotel guests do you want to attract? It’s impossible to please every kind of guest, which is why it’s important to identify your target market . Once you know who you want to stay at your property, you can develop amenities, services, and marketing materials to attract these guests and deliver exceptional experiences.
- What type of guests do I want? Business or leisure travelers?
- What demographics? Age, gender, marital status, etc.
- What are my target market’s interests? Water sports, hiking, relaxation, museums, animals, etc.
- What does my target market value? Sustainability, contactless technology, personalized service, localized experiences, etc.
This section will help you formulate the guest experience to ensure that expectations meet reality .
5. Competitive analysis
The competition you face will vary depending on where your hotel is located. This section is where you should conduct in-depth competitor research to understand how your hotel will compare. Identify who your five major competitors are — ideally, three direct competitors who you will be competing with upon opening and two aspirational competitors that you can emulate as you grow your business.
Conduct a SWOT analysis based on your competitors to look at:
- Strengths – where does your property excel in comparison to competitors? Why would travelers pick you? Price, amenities, location, technology, etc.
- Weaknesses – where does your property fall short in comparison to competitors? Price, amenities, location, technology, etc.
- Opportunities – what industry trends can you take advantage of? What local events or partnerships can you capitalize on?
- Threats – what are the biggest threats facing your property? War, travel restrictions, recession, etc.
A thorough analysis can help solidify your competitive advantage and develop a contingency plan for how you will deal with your weaknesses and threats.
6. Marketing plan
Without demand, there is no business. A hotel marketing plan outlines the channels you’ll use to reach your target audience to drive bookings. Your marketing strategy should include 3 key channels:
1) Paid media — paid advertising to promote your property and drive bookings. This includes online travel agencies (OTAs) , search engine marketing (SEM) , retargeting, and metasearch advertising .
2) Owned media — content you create, like your hotel website , social media channels , blog posts, and SEO .
3) Earned media — user-generated content created by third parties like media coverage or online reviews.
7. Operations plan
How do you plan to run your day-to-day operations? This section of your plan will outline all of the key tasks and responsibilities of your team and what exactly your hotel will offer. Consider:
- The number of staff and supervisors required
- Job descriptions and responsibilities
- Your service standards (check out our downloadable SOPs for some inspiration)
- How you’ll manage your inventory
- What hotel technology solution(s) will you need? PMS, channel manager, booking engine, payment terminal, revenue management tools, guest engagement software, etc.
- What services and amenities do you want to offer?
Detail your short and long-term operational plans and the stakeholders involved for each area.
8. Management team
Whether or not you’ve hired your team yet, this section is one of the most important sections that potential investors will look at. Make sure to outline the key personnel you will require and their roles.
In general, these are the following roles you’ll want to outline:
- Hotel management (general manager, front office manager, housekeeping manager, maintenance manager, revenue manager)
- Hotel sales team
- Housekeeping staff
- Front office staff
Depending on the size of your hotel, your team will vary. Identify what team members you will need to open and your hiring plans over the next five years.
9. Strategic plan
Hoteliers must be strategic in optimizing occupancy rates across seasons to maintain revenue. As part of your strategic plan, identify how you will manage:
- Pricing – what room types will you offer, and how will the pricing vary?
- How will you maintain consistent occupancy throughout the high and low seasons? Will you adapt your pricing and marketing strategies?
- How will you conduct revenue management ? What type of rules/alerts will you use to adjust rates? Will you use technology to help with revenue management ?
- What will your online reputation management strategy be? How will you collect and respond to online reviews?
- What will your distribution mix look like? How will you drive reservations across a variety of channels?
10. Financial plan
Your financial projections are the most challenging but arguably the most important part of your hotel business plan. In this section, you should include the following:
- Start-up costs – how much money will you need from lenders to operate your hotel? Consider business licenses, furniture, down payments, etc.
- Operating costs – how much money will you need to keep your business running? Consider staffing costs, guest acquisition costs , mortgage payments, utilities, SaaS payments, etc.
- Income statement – what will your revenue, expenses, and profit be over the first 3-5 years of business?
- Cash flow projections – how will cash flow in and out of your business? Show what capital investment you’ll need to start.
- Balance sheet – identify your assets, liabilities, and equity.
If you’re looking for a potential investor, your financial plan will be the section they care about most. Here you must prove how your business will provide a return on investment. Don’t forget to include an Appendix that shows more detailed reporting and financial figures.
8 tips for creating an effective plan
1. Start with the section that excites you the most! Covering all the topics outlined above can feel overwhelming, so don’t feel pressured to go in order.
2. Reach out to a business owner you admire. No matter what type of business you’re starting, it’s always helpful to get advice from another business owner. Reach out to a successful local business owner to see if they’d be willing to share some insights they learned along the way.
3. Be concise. While there’s a lot to cover, you must be concise in each section of your plan. Include any additional research or documentation in the appendix to keep your business plan clean.
4. Try to avoid industry jargon. Depending on what type of investor is reading your plan, they may find jargon irrelevant and distracting.
5. Ensure you have a clear competitive advantage. You should be able to state in one sentence what makes your property unique. This selling point will be prominent in all of your marketing materials.
6. Set SMART goals. Setting specific, measurable, achievable, relevant, and time-bound goals is important to stay organized and on track to reach milestones.
7. Don’t forget about your plan. You will have spent hours developing your plan, so make sure you use it! Reference your plan as you build and grow your business , and remember that it’s ok if things change.
8. Illustrate your passion. Communicate why you want to be a part of the hospitality industry. Passion is contagious and gives investors more confidence that you will work hard to achieve your dreams.
What do you need to start a hotel business?
Ok, so you’ve read through this article and are now wondering — what’s next? Ensure you have the following items on your radar to start your business.
- A vision. Know exactly what kind of business you want to build.
- A business plan. Stay on track with a well-developed business plan.
- A location. Decide if you want to build a new property or renovate an existing hotel.
- Capital. Do you need to raise an upfront capital investment? Remember that new businesses usually aren’t profitable for the first few years and will need cash flow to pay for expenses.
- Business licenses & permits. Depending on the type of property and its services, you’ll need an occupancy permit, alcohol license, food service license, sales tax license, etc.
- Technology. Choose a hospitality management platform that can help you scale your business.
- Furniture & equipment. You must furnish your property with the proper furniture, electronics, appliance, etc.
- Staff. Take time hiring staff you can trust and who understand your hotel’s brand and vision.
Your business plan provides the foundation for your new business and outlines the next steps in the journey. Ensure you fully understand the market and competitive landscape to enter the industry prepared for whatever is to come. Start slow and invest in the right people and technology to support the growth of your business.
About Lana Cook
Lana Cook is a Content Writer at Cloudbeds where she is able to combine her love of writing and passion for travel. She has spent the last few years writing about all things technology and the ways in which it can be used to help businesses thrive. When she’s not busy writing, you can find her checking out the latest movie or searching for a new TV show to binge.
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Hotel Business Plan Template
Hotel business plan.
You’ve come to the right place to create your hotel business plan.
We have helped over 100,000 entrepreneurs and business owners create business plans and many have used them to start or grow their hotel companies.
Below is a template to help you create each section of your Hotel Business Plan:
Pegasus Hotel is a startup full-service independent luxury hotel in Austin, Texas. Owned by two local businessmen, Frank Girard and Miles Butler, it will serve the new up and coming district of the outskirts of Austin and cater to the locals and travelers who crave a luxurious and relaxing atmosphere. Pegasus Hotel will be a 10-story, 360-room hotel with a five-star restaurant and bar, relaxing pool and spa, 20,00 square feet of meeting and event space, a spacious and fully-equipped fitness center, and a view of scenic Austin. Pegasus Hotel will hold weddings and events, meetings, retreats, and those looking to unwind and be pampered while staying at the hotel. The service and amenities will be first class and the concierge will treat guests with extreme care and ensure guest satisfaction is held at an exceptional standard..
The following are the services and amenities that Pegasus Hotel will provide:
- 354 luxury rooms, two presidential suites, and four parlor suites
- Olympic size pool with adjacent hot tubs and surrounding cabanas
- First-class full-service spa
- First-class restaurant and bar
- Spacious fitness center
- Over 20,000 square feet of attractive meeting space for events
- Concierge and butler service
- Complimentary wifi
- Valet service
- Laundry service
- Business center
Pegasus Hotel will target the population of Austin, Texas, its surrounding communities, and travelers visiting Austin for work or play. Guests will be mid to high level income, enjoy traveling, enjoy visiting spas and high-end restaurants, and work in the corporate or government sector.
Pegasus Hotel will be owned by Frank Girard and Miles Butler. They will act in an Owner capacity, and will not be involved in the day to day operations of the hotel. Frank and Miles will hire the appropriate staff to ensure Pegasus Hotel is a profitable and successful business.
Lorenzo Falucci, General Manager, has over twenty years of experience in the hotel industry. He has most recently managed another independent boutique hotel in New York and was excited to be recruited by Frank and Miles to operate the Pegasus Hotel.
Lorenzo will hire Lisa Montgomery as the Director of Sales and David Jimenez as the Assistant General Manager. Lorenzo, Lisa, and David will be the senior management team of Pegasus Hotel. They will oversee all other department managers – Maintenance, Housekeeping, Front Desk/Guest Relations, and Food and Beverage. Each department manager will oversee various employees in their respective department and role. The Pegasus Hotel will have a large and sophisticated operation as each department is integral in the success of the hotel.
Pegasus Hotel will be able to achieve success by offering the following competitive advantages:
- Friendly, attentive, and highly responsive staff that caters to each guest and will be able to provide the best guest experience possible.
- Luxurious amenities throughout the hotel that will make each guest feel pampered.
- Modern and contemporary designed hotel tucked against a beautiful Texas landscape perfectly suited to host any event.
- Competitive rates and frequent guest discounts.
Pegasus Hotel is seeking $10,000,000 in debt financing to begin constructing the hotel and commence operations of the business. The funding will be dedicated towards securing the land lease and the hotel build-out and design. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff, furniture, fixtures, and equipment, initial inventory, and working capital. The breakout of the funding is below:
- Secure the land lot, architecture, build-out, and design: $6,000,000
- Hotel furniture, fixtures, and equipment: $2,000,000
- Initial inventory: $750,000
- Three months of overhead expenses (payroll, rent, utilities): $1,000,000
- Marketing & advertising: $150,000
- Working capital: $100,000
The following graph below outlines the pro forma financial projections for Pegasus Hotel.
Who is pegasus hotel.
Pegasus Hotel is a startup full-service independent luxury hotel in Austin, Texas. Owned by two local businessmen, Frank Girard and Miles Butler, it will serve the new up and coming district of the outskirts of Austin and cater to the locals and travelers who crave a luxurious and relaxing atmosphere. Pegasus Hotel will be a 10-story, 360-room hotel with a five-star restaurant and bar, relaxing pool and spa, 20,00 square feet of meeting and event space, and a view of scenic Austin. Pegasus Hotel will hold weddings and events, meetings, retreats, and those looking to unwind and be pampered while staying at the hotel. The mission statement of the hotel is to provide first class service and amenities.
The guests rooms will include luxury beds and bedding with best-in-class furniture and bathroom fixtures. Pegasus Hotel will also have a full-service spa that will be able to provide massages, facials, makeup and/or hair service, steam rooms, and a sauna. The Olympic-sized pool will have adjacent hot tubs with a swim-up bar and surrounding cabanas. Pegasus Hotel will be equipped with state-of-the-art fitness equipment in its spacious gym. The restaurant will be a high-end steakhouse that will feature entrees from a world-renowned chef and a wine list cultivated by the area’s most respected sommelier. There will also be over 20,000 square feet of meeting space that will hold weddings, bat mitzvahs, reunions, galas, and any special event.
Pegasus Hotel will be independently owned and operated and will feature its own reservation system and operational software. Each employee will be expertly trained and vetted to pass luxury industry standards of guest service. Pegasus Hotel is committed to providing the best guest experience possible while maintaining a profitable hotel. Pegasus Hotel aims to be a step above the rest and be an unforgettable experience for all who step foot into the hotel.
Pegasus Hotel History
Pegasus Hotel is owned by two local businessmen, Frank Girard and Miles Butler. Frank and Miles have been friends and business associates for over thirty years. They became friends in college while attending The University of Texas at Austin. Frank is a real estate developer specializing in commercial real estate and multi-use land projects. Miles is a software engineer who has built multitudes of software programs for various companies. They have both been extremely successful in their careers and want to divest their investments in a large-scale full-service hotel in Austin, Texas.
Since incorporation, Pegasus Hotel has achieved the following milestones:
- Acquired a 40-acre lot on the outskirts of Austin, Texas.
- Registered Pegasus Hotel, LLC to do business in the State of Texas.
- Hired a consultant to conduct a feasibility study for a full-service hotel in Austin.
- Began developing reservation and operational management software for use at the hotel.
- Began the branding image, logo, website, and social media accounts for the staffing agency.
- Applied for a liquor and mixed beverage permit with the Texas Alcoholic Beverage Commission.
- Hired an architect to begin the design phase of the hotel.
Pegasus Hotel Services
The following will be the services and amenities Pegasus Hotel will provide:
The hotel industry is expected to increase to a $133 billion in the next five years. The hospitality industry will benefit from increases in travel spending, corporate profit and general consumer spending.
As consumers earn higher incomes and businesses replenish their budgets, travel spending is projected to increase over the next five years. Inbound trips by non-US residents are anticipated to rise 22% over next the five years, while domestic travel is expected to grow 9% during the same period.
The industry will see particularly strong growth in extended-stay hotels, boutique hotels, spa and health retreats and resorts segments. As demand for these auxiliary services picks up, industry employment is anticipated to recover and increase over the next five years. Industry players are also expected to continue expanding abroad into emerging economies, such as Asia, Eastern Europe and South America. These foreign markets are expected to somewhat detract from domestic investment, as they offer higher growth prospects for industry operators.
Demographic profile of target market.
The precise demographics for Austin, Texas are:
Pegasus Hotel will primarily target the following customer profiles:
- Individuals and families who have disposable income (mid to high level)
- Frequent travelers
- Individuals who dine out and visit spas frequently
- White collar workers (corporate or government office)
Direct and indirect competitors.
Pegasus Hotel will face competition from other companies with similar business profiles. A description of each competitor company is below.
Hotel Ella is a historic boutique hotel located in Austin, Texas. Located in downtown Austin and walking distance to the University of Texas campus, Hotel Ella is a stylish boutique hotel housed in the historic Goodall Wooten House, one of Austin’s original landmark estates. Constructed in 1900, the Greek revival-style mansion underwent an extensive renovation in 2013, and now offers the perfect balance between modernity and a rich history rooted in the fabric of the neighborhood and the university. Hotel Ella has 47 guest rooms, a cabana-lined pool, and a wrap-around veranda overlooking the front lawn. Hotel Ella features beautifully designed outdoor and indoor spaces perfectly suited for a vacation, wedding, or corporate event. The hotel also features a diverse collection of Texas Modernist works around the hotel grounds.
All guests of Hotel Ella are treated to warm southern hospitality and superior personalized service during their stay. The historic property is appointed with a variety of elegant 21st century amenities. Hotel Ella also offers the following amenities and guest services:
- Complimentary 24-hour guest services
- Complimentary high-speed wi-fi access
- Complimentary electric car charging station
- Complimentary morning newspapers available in the historic mansion
- Complimentary coffee stations from 5am – 11am
- Twice-daily housekeeping service
- Cabana-lined outdoor pool
- Fitness center
- Same-day valet laundry services
- In-room dining by Goodall’s
- Business services: photocopying, printing, postal services, and supplies
Hotel Ella also welcomes dogs of all sizes at no additional fee.
Kimber Modern is located in the hip SoCo district of Austin and is intended to draw in the independent urban traveler seeking a unique escape. It is architecturally designed with clean lines and abundant light filtered through canopies of oaks in an artfully landscaped Courtyard. The hotel also encompasses absolute comfort and attention to detail while providing technologically sophisticated rooms in their boutique guest rooms. Guests booking at Kimber Modern will receive complimentary beverages, parking, and WiFi.
Kimber Modern offers the following hotel amenities to its guests:
- Off street covered parking
- Electric car charging station
- Keyless entry
- Complimentary WiFi throughout the hotel
- Multi-level courtyard with a 25-foot glass water feature with multiple areas to lounge
- Jura self-serve coffee system featuring a variety of coffee drinks 24/7
- Beverage bar 24/7
- Gourmet teas
- Virtual concierge – computer, printer, and copier
- Meeting space available for groups
- 3pm check-in and noon check-out
Guests are also available to book the entire hotel for their group.
The Cat Noir Hotel
The Cat Noir Hotel is an award-winning 14-room boutique hotel located in the heart of Austin’s east side. The European-styled boutique hotel includes a restaurant and bar partner, Uncle Nicky’s Italian Specialties. Uncle Nicky’s offers a relaxed all-day dining experience that is themed after cafes in northern Italy. The Cat Noir Hotel opened in 2016 and has been ranked #2 by Travel + Leisure’s World’s Best Awards and Top 20 Best Hotels in Texas by Conde Nast Traveler.
The Cat Noir Hotel’s contemporary design maintains a sense of warmth and a unique aesthetic that is felt through the lobby, outdoor spaces, and each of the unique guest rooms. In addition to the design elements, The Cat Noir Hotel boasts the following features:
- Private roof deck for guests to enjoy the stunning views of downtown, the Texas Capitol, and the University of Texas
- Outdoor patio and courtyard areas on all levels
- Artwork from local artists
Each of the guest rooms include Juliet balconies with neighborhood views, fine linens, and Simmons luxury plush mattresses.
Pegasus Hotel will be able to offer the following advantages over their competition:
Brand & value proposition.
Pegasus Hotel will offer the unique value proposition to its target market:
- Professional and attentive staff dedicated to ensure complete guest satisfaction.
- Various amenities throughout the hotel for any guest to enjoy.
- Modern and contemporary design with beautiful Texas views throughout the entire hotel.
- Competitive rates.
The promotions strategy for Pegasus Hotel is as follows:
Pegasus Hotel will invest in advertising the hotel on social media platforms Facebook, Instagram, LinkedIn, and Twitter. By using targeted social media marketing, Pegasus Hotel will be able to reach those who frequent nice restaurants and spas and travel frequently.
Pegasus Hotel will invest in a strong SEO presence so that when someone enters “Austin boutique hotel” or “first class hotel near me” in their Google or Bing search bar, Pegasus Hotel is at the top of the list. Their website will feature photos of the guest rooms, meeting areas, pool, spa, fitness center, and restaurant/bar. Future guests will be able to make a reservation to book their future stay on the website and access contact information for either a Director of Sales or General Manager of the property.
Pegasus Hotel will request all requests for news stories regarding the development of the hotel, owner/developer information, opening dates, etc. By accommodating the press’ requests for stories, it will also be free advertising for the public to learn about the new up and coming luxury hotel.
Frank and Miles will invest in a billboard in downtown Austin where the mid to upper class of residents frequent. The hotel will be minimalistic but eye-catching. It will feature an attractive rendering of the hotel along with the website. Curious passersby will be directed to visit the hotel’s website for information.
Third Party Booking Websites
Once the hotel is nearing 60 days towards opening, all of the third party booking websites will feature Pegasus Hotel so that travelers visiting Austin will be able to see it listed as an option for Austin hotels.
Bridal Shows and Wedding Industry Events
Pegasus Hotel will have a table at all of Austin’s bridal shows and wedding industry events. It will attract those couples searching for a venue to accommodate their special day.
The pricing of Pegasus Hotel will be moderate and on par with competitors so customers feel they receive value when purchasing its guest rooms and services.
The following will be the operations plan for Pegasus Hotel.
- Frank and Miles will be the owners of the hotel and hire the appropriate staff to manage the hotel. Frank will act as CFO of the hotel and Miles will be in charge of the reservation system and operations software. Miles developed the software and will focus on making sure it’s always functional and efficient.
- General Manager will be hired to oversee the entire staff and operations of the hotel to include guest satisfaction, oversee vendor contracts, events, and making sure that each department is running effectively and efficiently.
- Assistant General Manager to assist the General Manager with overseeing the staff, with particular attention to guest satisfaction and front desk operations.
- Director of Sales will be hired to sell events, corporate accounts, and group bookings for the hotel.
- Maintenance Engineer will be hired to attend to all mechanical and plumbing issues that may arise.
- Executive Housekeeper will be hired to lead the team of housekeepers to make sure all areas of the hotel are being cleaned to Pegasus Hotel standards and that each guest is receiving all accommodations to their requested schedule.
Pegasus Hotel will have the following milestones completed in the next six months.
8/1/202X – Purchase land lot and break ground on new hotel.
8/15/202X – Finalize architectural renderings and hire a General Contractor to build the hotel.
9/1/202X – Finalize contract with advertising company for them to design the branding image of the hotel, logo, website, billboard, and social media accounts.
9/15/202X – Begin social media and website advertising campaign. Billboard with a teaser of ‘Coming Soon’ will go up in downtown Austin.
10/5/202X – Hire General Manager and Director of Sales.
10/15/202X – Attend annual Wedding Industry Event with a table to begin advertising Pegasus Hotel.
11/1/202X – Pegasus Hotel will go live on third party booking websites.
11/15/202X – Remainder of staff will be hired to begin training program.
11/30/202X – Final walk-thru of newly constructed Pegasus Hotel.
12/15/202X – Begin furnishing and interior design of the hotel.
1/1/202X – Grand Opening of Pegasus Hotel.
Lorenzo will hire Lisa Montgomery as the Director of Sales and David Jimenez as the Assistant General Manager. After an exhaustive search, Lorenzo believes has found the next two senior management positions to ensure the success of the hotel. Each comes with an impressive resume of prior hotel sales and operational experience.
Lorenzo, Lisa, and David will be the senior management team of Pegasus Hotel. They will oversee all other department managers – Maintenance, Housekeeping, Front Desk/Guest Relations, and Food and Beverage. Each department manager will oversee various employees in their respective department and role. The Pegasus Hotel will have a large and sophisticated operation as each department is integral in the success of the hotel.
Lorenzo, Lisa, and David will meet with Frank and Miles monthly to update them on progress and overall operations and sales efforts of the Pegasus Hotel.
Key revenue & costs.
The revenue drivers for Pegasus Hotel are the revenues it will collect when guests book a reservation at the hotel. The hotel will also collect revenues from its restaurant and bar, spa, and events it will host.
The cost drivers will be the payroll and overhead costs to staff the hotel. Other costs will involve the land lease, utilities, marketing costs, and technology fees. There will also be costs associated with the maintenance of the hotel, food and beverage inventory, spa inventory, and hotel guest room supplies.
Funding Requirements and Use of Funds
The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.
- Initial Number of Room Nights Sold per Month: 8,000
- Number of Events per Month: 30
- Land Lease per Year: $1,500,000
Income statement, balance sheet, cash flow statement, hotel business plan faqs, what is a hotel business plan.
A hotel business plan is a plan to start and/or grow your hotel business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.
You can easily complete your hotel business plan using our Hotel Business Plan Template here .
What Are the Main Types of Hotel Companies?
There are many types of hotel companies. Most hotels are affiliated with a hotel franchise company. Other hotel companies distinguish themselves by star level- 4 to 5-star hotels are on the higher end of rate and amenity offerings, whereas 2 to 3-star hotels cater more towards the everyday business travelers and families.
What Are the Main Sources of Revenue and Expenses for a Hotel Business?
The primary source of revenue for a hotel business are the room fees it charges each guest to stay at the hotel. Revenues are also collected for different amenity offerings, such as room service, restaurant and bar revenue, spa revenues, and guest shop revenue.
The key expenses for a hotel business are the costs for inventory, maintenance, supplies, furniture, fixtures, and equipment, technology, and payroll of the staff. Other expenses will be the rent, utilities, and overhead costs, if applicable.
How Do You Get Funding For Your Hotel Business Plan?
Hotel businesses are most likely to receive funding from banks. Typically you will find a local bank and present your business plan to them. Angel investors and other types of capital-raising such as crowdfunding are other common funding sources. This is true for a business plan for a hotel, a resort or a boutique hotel business plan.
What are the Steps To Start a Hotel Business?
Starting a hotel business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.
1. Develop A Hotel Business Plan - The first step in starting a business is to create a detailed hotel business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.
2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your hotel business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your hotel business is in compliance with local laws.
3. Register Your Hotel Business - Once you have chosen a legal structure, the next step is to register your hotel business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.
4. Identify Financing Options - It’s likely that you’ll need some capital to start your hotel business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.
5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.
6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.
7. Acquire Necessary Hotel Equipment & Supplies - In order to start your hotel business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.
8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your hotel business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.
Learn more about how to start a successful hotel business:
- How to Start a Hotel Business
Where Can I Get an Example Hotel Business Plan PDF?
You can download our example hotel business plan PDF template here . This is a business plan template you can use in PDF format.
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15+ Hotel Business Plan Samples – PDF, Word
Hotels are one of the most lucrative businesses one can get into. They are especially profitable if the hotel business plan in question is located in a busy city or near a popular tourist destination. Being part of the hospitality industry, you will never run out of customers as long as your hotel is managed properly. To run your hotel plan profitability, you must have a proper business plan that will help you dance your worries away. We have various hotel business plan templates applicable for various related businesses and accommodations such as a startup mini hotel, guest house motel, 5 star resort lodge, 3 star spa, and boutique, etc. Keep scrolling!
Sample Hotel Financial Business Plan Template
Simple Small Hotel Business Plan Template
Sample Hotel Operational Plan Template
Sample Hotel Sales Business Plan Template
Standard Sample Hotel Business Plan Template
Free Business Plan for Hotel Resort & Spa Product
Free Tree Guest House Retreat Business Plan Sample
Free mini hotel bed and breakfast business plan sample.
Free Business Plan of a Hotel Management In Saint Petersburg
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Business Plan Sections
1. executive summary, 2. company analysis, 3. industry analysis, 4. customer analysis, 5. competitive analysis, 6. marketing plan, 7. operations plan, 8. management team, 9. financial plan, 10. appendix, free lotus sea hot spring 5-star hotel business plan sample.
Free Start-up Boutique New Hotel Sample Business Plan
1. what is a hotel business plan, 2. what is the purpose of using a hotel business plan, 3. what should a hotel business plan include.
- Executive summary
- A detailed sample analysis of your company and the work you do
- Industry and market analysis
- Client and customer evaluation
- Your competitors and other sources
- Marketing and operation plan, etc.
4. What Is a Successful Business Plan?
5. how do you write a hotel business plan.
- Operations : explain how your organization will operate daily
- Management : mention your management team
- Financial details : this is where you mention all key finances
- Project planning : define all the targets you want to hit
- Appendix and other details.
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Hotel Business Plan Sample
Hotel Business Plan for starting your own hotel
Hotels are among some of the best businesses that you can start if you have the investment for it. As a matter of fact, if you want to invest a large sum of money in a business that has virtually zero risk, rental real estate business plan might just be the safest option.
We will give you a business plan for hotel that you can use to start your own hotel and make a lot of money while you are at it. This sample business plan for a hotel will follow the example of Hotel Intergalactic, a venture by John Abruzzi. Let us now see what business consultants have to say about this business.
Hotel Business Plan Summary
2.1 the business.
Hotel Intergalactic will be a 3-star hotel situated in downtown Los Angeles. The hotel will be registered with the local government and will be insured. The details of this business will be described in this executive summary for hotel with focus being on the way you can make lucrative profits by owning a hotel.
2.2 Management of Hotel Business
The next thing this business plan template for hotel needs to address is the way this hotel will be managed. For this, we will hire a manager to look after the day-to-day matters of the hotel. Other than the manager, one accountant and three assistant managers will be hired.
As this is a business plan for small hotel, we will not be hiring a lot of managerial staff to run it. The assistant managers will be responsible for procurement, operations, and customer service. The assistant managers will report to the manager who will act as an agent of the owner, John Abruzzi and will make decisions on his behalf in his absence.
2.3 Customers of Hotel Business
The customers of this free sample hotel business plan will be the following:
- People coming to visit Los Angeles.
- People who are in Los Angeles for business meetings.
- Los Angeles-based companies that need accommodation for their employees coming from other cities.
2.4 Business Target
The targets of Hotel Intergalactic are:
- Becoming the best hotel in Los Angeles.
- Starting to make a profit of $29,800 a month by the end of year 3.
- Expanding its services to at least other cities by the end of year 5.
3.1 company owner.
Hotel Intergalactic will be owned by John Abruzzi. John has a master’s degree in hospitality management and has been working in the hoteling industry for more than half his life. He knows the business and is passionate about it. He also has enough money to start the business. Combined, all these factors make him the perfect owner in this hotel business plan pdf.
3.2 Why the Hotel is being started?
John Abruzzi is one of the most prominent hotel managers in the area and that means if he starts a hotel people will know he means business. In this example of a hotel business plan, the main reason for starting this business is that this is a profitable business opportunity.
3.3 How the Hotel will be started?
Step1: Making a Feasibility Report
The next thing this new hotel business plan needs to discuss is the feasibility report. At this stage, a survey will be conducted to chalk out the demand and availability of hotels in downtown Los Angeles area. Any good hotel business plan sample doc needs to make sure of the thing that a proper feasibility report is made and the hotel is designed according to the demand in the area.
Step2: Developing a Brand
This hotel business plan, just like a resort business plans needs to cover another important thing. This is developing a brand. As the hotel is going to be in the heart of Los Angeles, it is cardinally important to have a brand.
Step3: Establishing the Hotel
As the hotel is to be constructed from scratch, the best-case scenario would’ve been an empty plot but that is not the case as the downtown Los Angeles area is fully covered by a concrete jungle. For this purpose, an apartment building will be bought and will be modified into a hotel.
Step4: Promotion and Marketing
Last, but not the least, the hotel needs to be promoted on all media channels to make sure people are aware of its existence and it attracts business.
Services of Hotel Business
A hotel business plan, unlike a home inventory business plan has a limited number of services. While a home inventory service business can offer a lot of services, a hotel business can only offer a few. Here’s an overview of the services Hotel Intergalactic will be offering:
It goes without saying that the most important service offered by the hotel will be accommodation. The hotel will have 20 single-bed, 20 double-bed, and 10 twin-bed rooms for accommodating the guests.
- Banquet Service
The second most important service provided by Hotel Intergalactic will be that of a banquet. Three large halls will be made a part of the hotel and will be provided for everything from business meetings to birthday parties.
The top floor of the hotel will have an open-air rotating restaurant which will be open for the guests in the hotel and any other person coming in just for a meal.
- Bar and Lounge
The hotel will also feature a bar and a coffee lounge. These services will also be available for both the guests of the hotel as well as other people.
Marketing Analysis of a Hotel Business
Marketing analysis is the study of the various variables of the market that can affect the successful operation of a business. Any business plan for a hotel operation needs to shed light on this in order for the hotel to be successful. Before we get into the details of this business plan sample hotel industry, we need to have a look at the industry as a whole. There are just above 90,000 hotels in the US and more than $194billion change hands in this industry annually.
5.1 Market Trends
If you want to learn how to write a business plan for a hotel, you will have to closely study the trends of the industry. Just like making sample property management business plans , it is important to have an insight into the market before establishing a hotel.
The US hoteling market might have its seasonal ups and downs, but it has been noted in the past decade that the industry has seen a steady growth. The worth of this industry has increased from $133billion in 2009 to just under $200billion in the last decade. Industry experts and analysts are of the view that this industry will show a minimum of 5% growth by 2025.
Let’s now see more details of this hotel business plan outline.
5.2 Marketing Segmentation
One of the most important things to consider when planning any business is the market segmentation. You need to have a clear idea of the market segments that you are going to target and only then you can properly plan everything.
Apparently, the hoteling business is only for one market segment, the people who need a place to spend the night. However, there is more to the story that just that. Even a house painting business plan has multiple market segments. Any hotel can have customers and clients divided into a number of market segments. We will focus on four segments of the market via Hotel Intergalactic.
5.2.1 Individual Customers
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Most of our customers will fall into this category. These will be the people who show up at the hotel and want a room. We will make every possible effort to make sure these customers go home happy and consider us the next time they need a hotel.
Companies need accommodation for their employees when they are on a meeting. This segment of the market will give us bulk business and we will offer them discounts to make them our loyal customers.
5.2.3 Bar and Restaurant Customers
As the hotel will have a bar and restaurant, the people coming to visit them will also be a segment of the market for us.
5.2.4 Banquet Customers
As the hotel is to have three banquet halls, this will also be an important market segment for us. We will rent out the halls for conferences, parties, weddings, birthdays and any other function people need them for.
5.3 Business Target
Our business targets are:
- To maintain the highest standards of client satisfaction.
- To become a well-known name in the industry.
- To expand the business to all the major cities of the US.
5.4 Product Pricing
Hotel Intergalactic will offer the services at a price comparable to that of the competitors. We might keep the price a bit lower than that of the competition at the start to attract customers but once we earn name, we will increase the prices.
Marketing Strategy of Hotel Business
The next important thing for opening a hotel business plan is the marketing strategy of the hotel. No hotel management company business plan can be complete if it has no marketing strategy. To make a workable marketing strategy, we need to do the following.
6.1 Competitive Analysis
The competitive analysis for Hotel Intergalactic has revealed the following:
- The competition in this field is immense in the area we are working in. We need to provide something extra to get customers.
- We will provide complementary dinner to our customers. No hotel in the area does this and this will give us a competitive edge.
- We will subsidize the companies who want accommodation for their employees so that they choose us over the other options.
6.2 Sales Strategy
- We will advertise the hotel through all the media channels in the area.
- We will partner up with travel agents and tour planners to get customers.
- We will offer discounts to companies who want to get accommodation for a large number of their employees.
6.3 Sales Monthly
6.4 Sales Yearly
6.5 Sales Forecast
Another thing that needs to be made clear in this hotel resort business plan sample is the staff that we will need to operate the hotel. Unlike an RV park start up business plan , we will need a larger workforce to smoothly run the operations of the hotel.
7.1 Company Staff
- John Abruzzi will be the owner and CEO of the hotel.
- 1 General Manager.
- 2 Assistant managers.
- 1 Accountant.
- 1 Receptionist.
- 3 Waitresses.
- 2 Bartenders.
7.2 Average Salary of Employees
The last thing to be discussed in this business plan is the budget for hotel business plan. As the hotel is being started from scratch, the following expenses are to be arranged:
- The cost of establishing the hotel.
- The cost of hiring the staff.
- The salaries of the staff for the first 6 months.
- The cost of buying cars for guest pick and drop.
- The money needed to advertise the hotel.
- The money needed to establish a web presence of the hotel.
8.1 Important Assumptions
8.2 break-even analysis.
8.3 Projected Profit and Loss
8.3.1 profit monthly.
8.3.2 Profit Yearly
8.3.3 Gross Margin Monthly
8.3.4 Gross Margin Yearly
8.4 Projected Cash Flow
8.5 Projected Balance Sheet
8.6 business ratios.
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FREE 10+ Hotel Business Plan Samples in MS Word | Google Docs | Apple Pages | PDF
It’s preposterous to open a business and operate it without a well-planned and well-written business plan. This is most especially important for a complex and competitive industry such as a hotel-based business. The business plan is the business owner’s roadmap on how to operate the different aspects of their business, what they want to achieve, and what financial, sales, and marketing conditions their business is in currently. However, creating a business plan is a big task that can be frustrating at times and some business owners give up because of it. It is important to remember that making a business plan can be a key to a business’s success; it is a requirement to propose investment opportunities to investors or screen your current business goals. If you need to create a business plan, this article will talk about how to create a hotel business plan.
Hotel Business Plan
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What is a Business Plan?
A business plan is a written document that comprehensively describes how a business defines its objectives and outlines its methods of achieving them. It also serves as a roadmap for the business’s marketing, financial, and operational point of view. Business plans are usually a must-have for startups to give them a clear idea of how they want to run the business and where they want to go.
Details to Include in a Hotel Business Plan
1. executive summary.
The executive summary sums up the entirety of the business plan. However, you can also use this part to highlight the two most important aspects of your business that motivates you to continue doing your operations:
- Mission statement: A one-line description explains why your hotel is in business, what needs you want to solve for your visions for your company to come true.
- Objectives statement : This outlines what you hope to accomplish in a certain timeline.
2. Company Analysis
Give more information about your hotel’s history, the services and perks you offer, and your unique selling points that make you stand out from your competitors.
3. Industry Analysis
Include the information you’ve gathered on the current industry trends and state of the market and how these factors will impact your hotel’s business. If you’re using the business plan as a proposal to investors, including this section is important so they can see how you understand the hotel industry. Knowing these factors is a keynote of making important decisions for your hotel.
4. Customer Analysis
You also need to include this section to show the important information you’ve gathered about your target market such as their geographic, demographic, socioeconomic, psychographic, and behavioral segmentation details. This will help explain what types of guests will mostly stay at your hotel. You can segway on explaining which features will be meeting the needs and wants of the target market with location, amenities, and services.
5. Competitive Analysis
Include also the research you’ve conducted about your competition with each of their strengths, weaknesses, occupancy rates, and market share. You can do this by making a SWOT analysis . Don’t forget to include details on what makes you different or stand out from them.
6. Strategic Plan
Your strategic plan should consist of the following:
- Marketing : Include details on how exactly you will attract guests, what message will you use for your marketing and promotion methods, what resources and channels will you use for marketing and promotion, etc.
- Distribution : What 3rd party channels will you use and what technology will you need to do this effectively?
- Revenue management : What pricing techniques will you use for your amenities and services? What will your payment and cancellation policies be? Which room types will you be selling, and how will they be marketed? Where can you compensate income or demand streams when necessary?
7. Operations Plan
Your operations plan is where you out on how you will run your hotel? Include the following elements in this plan:
- The number of staff and supervisors you need
- The job descriptions of your staff and management
- Work experience and career background of the staff and management
- The service standards
- Manual guidebook
- Details of the suppliers
- Inventory management
Don’t forget to also describe the management style of your hotel business. You can also state what uniquely qualifies you to make your hotel a success.
8. Financial Plan
Provide the start-up costs and capital investments of your hotel, the ongoing business costs, operational expenses, and revenue projections for the next five years.
How much profit does a hotel make per room?
The monthly average revenue per available room in 2020 was around 36 U.S. dollars for hotels in the United States.
How much does it cost to run a hotel?
The cost to open a small hotel in the United States is around $1,000,000. The cost could even go higher than a million dollars.
Once you’re done writing your business plan, review it and revise any errors that you found. Errors such as grammar, spelling, and inaccurate information should be removed. If you find the task quite overwhelming, ask help from a colleague to help you write the business plan. You can also let the rest of your employees read the business plan so you can ask for suggestions on how you can improve it. Because no investor or lender will be interested in your hotel business if you cannot present a clear plan to them. To help you get started making the business plan, download our free sample templates above to use as your guide!
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Hotel Business Plan
Owning a hotel is a dream for many people, who like to organize and engage in multiple different activities. From having unique themes to beautiful decor, a hotel business gives you an ample amount of chances to showcase your creativity.
But the pandemic might have naturally left many of you doubting the viability of hotels.
With a vast variety of reasons a hotel serves, the hotel business is very less likely to become irrelevant.
Most leading hotel businesses today, rely on software to manage their operations. Kiosk Mode for automated check-ins, on-the-spot reservations, and feedback, hotel management software for customer management, and revenue control are just some of the many solutions that streamline hotel management.
And all you need to have a thriving hotel business is a hotel business plan that’ll help you get the maximum out of the profitable times and stay prepared for unexpected circumstances.
The hotel industry stood at a whopping market value of 0.95 trillion dollars in 2021 and is recovering at a rapid rate after the COVID-19 pandemic.
The hotel industry is ruled by several major players, hence it is a good practice to go through their case studies and business strategies. There’s a high chance that you might find something very useful for yourself.
Work vacations and leisure trips are the major factors that contribute to the growth of the hotel industry.
Things to Consider Before Writing a Hotel Business Plan
Select a good location, find good suppliers, know your financial requirements, find your usp, chalking out your business plan.
If you are planning to start a new hotel business, the first thing you will need is a business plan. Use our sample hotel business plan created using upmetrics business plan software to start writing your business plan in no time.
Before you start writing a business plan for your new hotel business, spend as much time as you can reading through some samples of hotel and lodging-related business plans .
Reading some sample business plans will give you a good idea of what you’re aiming for and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.
We have created this sample Hotel Business Plan for you to get a good idea about what a perfect hotel business plan should look like and what details you will need to include in your stunning business plan.
Hotel Business Plan Outline
This is the standard hotel business plan outline which will cover all important sections that you should include in your business plan.
- Business Overview
- Mission Statement
- Location and Facility
- Steve Cowan
- Key Advisors to the Company
- Economic Environment
- Geographical/Competitive Environment
- Legal/Political Environment
- Technology Environment
- High Line ($139-$750 per night, depending upon season)
- Motel ($59-$119 per night, depending upon season)
- Bed & Breakfast (B&B)
- Summary of Opportunities and Threats in the Environment
- Competitive Advantage
- Industry Keys to Success
- SWOT Analysis
- Marketing Strategies
- Target Markets – Consumer
- Positioning and Product Strategy
- Distribution Strategy
- Pricing Strategy
- Service and Support Philosophy
- New Business Segment
- Publicity and Public Relations
- Guest Reward Programs
- Marketing and Promotion Budget
- Evaluation & Control Strategies
- Project Funding Summary
- Phase 1 Funding Amounts Sought
- Financial Plan Assumptions
- Income Statement Projections
- Balance Sheet
- Cash Flow Projections
After getting started with Upmetrics , you can copy this sample hotel business plan template into your business plan and modify the required information and download your hotel business plan pdf or doc file.
It’s the fastest and easiest way to start writing your business plan.
Business Planning Resources
We have plenty of free business planning resources available to help you with your planning. You can download our resources to learn all about business planning.
Not found what you are looking for? Explore our 200+ sample business plans to find match for your business.
DISCLAIMER: The business plans, templates, and articles contained on upmetrics.co are not to be considered as legal advice. All content is for informational purposes, and upmetrics makes no claim as to accuracy, legality or suitability. The site owner shall not be held liable for any errors, omissions or for damages of any kind.
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Hotel business plan example
Before you start writing your hotel business plan, spend as much time as you can to reading through some samples of a hotel or food and restaurant business plans. Not only will that give you a good idea of what it is you’re aiming for, but it will also show you the different sections that different entrepreneurs include and the language they use to write about themselves and their future plans. We have created a sample hotel business plan example for you to get a good idea about how a perfect hotel business plan should look like and what details you should include in your business plan. Source: https://upmetrics.co/template/hotel-business-plan-example
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- B U S I N E S S P L A N 2019 Hotel Business Plan John Doe 10200 Bolsa Ave, Westminster, CA, 92683 (650) 359-3153 [email protected] http://www.example.com/
- Table of Contents Executive Summary 3 Business Overview 3 Management 3 JOHN DOE 3 Objectives 3 Mission Statement 3 Location and Facility 4 Business Overview 5 Ownership 5 JOHN DOE 5 STEVE COWAN 5 Key Advisors to the Company 6 Corporate Development Plan 6 Phase I 6 Phase II 6 Market Analysis 7 Economic Environment 7 Geographical/Competitive Environment 7 Legal/Political Environment 7 Technology Environment 8 Competitive Environment 8 High Line ($139-$750 per night, depending upon season) 8 Motel ($59-$119 per night, depending upon season) 8 Bed & Breakfast (B&B) 9 Market Research 9 Summary of Opportunities and Threats in the Environment 9 Competitive Analysis 10 Competitive Advantage 10 1 / 20
- Industry Keys to Success 10 SWOT Analysis 10 Strategy & Implementation 12 Marketing Strategies 12 Target Markets - Consumer 12 Positioning and Product Strategy 12 Distribution Strategy 13 Pricing Strategy 13 Service and Support Philosophy 14 Marketing Plan 15 New Business Segment 15 Publicity and Public Relations 15 Guest Reward Programs 15 Advertising 16 Marketing and Promotion Budget 16 Evaluation & Control Strategies 16 Financial Plan 17 Project Funding Summary 17 Phase 1 Funding Amounts Sought 17 Financial Plan Assumptions 17 Projected Profit and Loss 18 Balance Sheet 18 Cash Flow Projections 19 2 / 20
- Executive Summary Business Overview Start Writing here... Examples Eleven Palms Eleven Palms is an adult-marketed, 17-room "boutique style" hotel specializing in a couples' "getaway" to provide relaxation and recreation in Benzie County, a popular tourist spot located next to the state of Michigan's Lake Michigan. Moderately priced between the high-line hotel properties and the older motel strips, Eleven Palms shall fill an affordability niche not presently available in Benzie County. We are seeking funds for the acquisition and renovation of Eleven Management JOHN DOE Owner - [email protected] Mr. Doe is an owner of Eleven Palms, He has an extensive business background, including over 14 years of experience developing a variety of businesses. Mr. Doe received his B.A. in Business Economics, and currently is an M.B.A. candidate at the University of Michigan. Desiring to return to his own business, he wishes to establish Eleven Palms, Inc. in 2010. Objectives Start Writing here... Examples Eleven Palms 1. Attract $1.4 million mortgage/investment capital; 2. Focus ideas and establish goals; 3. Identify and quantify objectives; 4. Track and direct growth; 5. Create benchmarks for measuring success. Mission Statement Examples Eleven Palms Eleven Palms, Inc.'s mission is to provide quality hospitality services to our guests in a comprehensive and cost-competitive manner, providing the finest accommodations in Benzie County, Michigan. upmetrics.co Read More Read More 2019 Business Plan | Hotel Business Plan 3 / 20
- Start Writing here... Location and Facility Examples Eleven Palms The preferred location is a 10-acre parcel with 8 acres of woods. Of the 18 rooms, 3 are executive suites, with Jacuzzi tubs, and one of them will be converted to an onsite manager's apartment. Each room has individual climate Read More Read More 2019 Business Plan | Hotel Business Plan 4 / 20
- Business Overview Start Writing here... Examples Ex :: Industry Ownership JOHN DOE Owner - [email protected] Mr. John Doe founded Eleven Palms, Inc. hotel and lounge in 1998 as a Michigan Subchapter "S" Corporation. Since 1985, John has had extensive experience in creating and managing organizations for environmental and economic development-oriented companies involved in nationwide projects. John consults with area businesses in development-related issues, including finance, and is a United States SBA counselor at the Small Business Development Center at the University of Michigan. Past SBA clients include service and manufacturing organizations. He is a certified SBA Fast Track program instructor, a Michigan licensed loan solicitor, with a specialty in commercial finance, and a guest lecturer at U-M for Business Plan Writing Workshops. He has started a previous business and corporate subsidiaries and looks forward to managing Eleven Palms on a daily basis. Currently, John is an M.B.A. candidate at U-M and holds a Bachelor of Arts degree in Business Economics with a minor in chemistry from Notre Dame University. STEVE COWAN Manager - [email protected] Mr. Steve Cowan will manage all aspects of the business and service development to ensure effective customer responsiveness. Qualified resort associate professionals will provide additional support services. The support staff will be added as a guest and/or patron load factors mandate. Cowan has joined the American Hotel and Motel Association. Examples upmetrics.co Read More 2019 Business Plan | Hotel Business Plan 5 / 20
- Key Advisors to the Company Examples Eleven Palms Eleven Palms, Inc. has additional key staff members and advisors to assist during the development, planning, and initial planning phases. They include an architect trained at the University of Notre Dame, CPAs and former managers of bar and Bed and Breakfast style properties. Corporate Development Plan For purposes of this Business Plan document, Eleven Palms, Inc.—Phase I and Phase II for developmental growth are defined below: Phase I Examples Eleven Palms This phase involves the preparation and development of Eleven Palms. Until the ideal property is acquired, Eleven Palms, Inc. offices will be housed at the home of Mr. John Doe, its founder. The property will establish its own Prairie Style identity, management directives, and capital. Incorporating a total quality management approach and a guest appreciation program, Eleven Palms will develop key repeat guests and lounge patrons. Through word of mouth and Phase II Examples Eleven Palms Continue implementation of sales, advertising, and marketing strategies developed in Phase I. Identify and pursue additional guest markets, i.e. Internet room guarantee services. Eleven Palms shall evaluate its room occupancy position to determine if a facility expansion is warranted. Eleven Palms anticipates additional support staff would be needed at the proper time (Phase II). This Plan does not contain funding needs for this Phase. Read More Read More Read More 2019 Business Plan | Hotel Business Plan 6 / 20
- Market Analysis Start Writing here... Examples Eleven Palms Eleven Palms, Inc. like all businesses, is affected by forces and trends in the market environment. These include economic, geographical, competitive, legal/political, and technical. Economic Environment Start Writing here... Examples Eleven Palms Positive forces include the generally prosperous economy that is currently in place, full employment, rising wages, and low inflation, leading more people to be able and willing to spend money and to get away for some time. The close locality of Lake Michigan offers an affordable alternative to a flyaway destination. Geographical/Competitive Environment Start Writing here... Examples Eleven Palms Located just two blocks from Lake Michigan and downtown Lakegrove, the area has several golf courses, two ski hills, water recreation activities, numerous dining establishments, various retail and specialty shops, art galleries, theatre entertainment venues, and the beauty and serenity of Lake Michigan, which has made this country a famous Midwest tourist destination. Traverse City began to prosper in the 1870s, becoming a desirable resort area. Many homes and estates Legal/Political Environment Examples Eleven Palms Eleven Palms management will not move the project forward until it has obtained an option to acquire one of the 19 Benzie County, Michigan, liquor licenses. As faced by all businesses, the proper insurance needs shall be met and all operations and policy manuals shall be reviewed by appropriate legal experts. The facility will obtain all the necessary building permits prior to construction. Present facility zoning allows for this proposed use, including a bar, cabaret, grill, upmetrics.co Read More Read More Read More Read More 2019 Business Plan | Hotel Business Plan 7 / 20
- Start Writing here... Technology Environment Start Writing here... Examples Eleven Palms Computer programs greatly simplify the financial record keeping for today's businesses. As a small business, Eleven Palms will need to watch its expenses closely. By utilizing the existing software packages available in the hotel industry, including: room and facility management database, controlled bar and inventory measuring systems, and room key cards that allow patrons to charge directly to their room account, this technology shall assist management in controlling costs, Competitive Environment Start Writing here... Examples Eleven Palms A listing of the hotel and motel properties in Benzie County, Michigan (sourced through Midwest and the Ameritech Directories) is as follows. (Note: Other properties on Lake Michigan, but outside the city limits, are not included): Bed & Breakfast (B&B) Dahlia House The Mixer House High Line ($139-$750 per night, depending upon season) Examples Eleven Palms The Cove of Lake Michigan ($145-$225) Grand Michigan Resort and Spa ($139-$750) The Harbor's Edge ($139-$199) The Michigan Inn ($215-$350) The Strike Hotel ($200) Motel ($59-$119 per night, depending upon season) Examples Eleven Palms Breezy Chateau Inn Budget Time Motel Lake Michigan Motel Lakewood Motel Misty Motel Pine Tar Motel Examples Dahlia House Read More Read More Read More Read More 2019 Business Plan | Hotel Business Plan 8 / 20
- Bed & Breakfast (B&B) Eleven Palms Dahlia House The Mixer House Precious Times Inn Start Writing here... Examples Eleven Palms Hotel and motel properties in adjacent communities are not listed, however, they do advertise in the Yellow Pages. Eleven Palms hotel and lounge are attempting to carve out a fourth segment in the lodging market; that of a "boutique" style, high-line property at mid-line pricing geared towards adult couples and not marketed to families. Market Research Start Writing here... Examples Eleven Palms A hypothetical behavior sequence model for a new customer (future guest) contemplating using a hotel and lounge service for the first time might look something like the following (based on discussions and interviews with potential guests): Individual or couple decided to getaway for a few days. This may happen as a result of a need for a change of pace, vacation, or a celebration purpose. The Summary of Opportunities and Threats in the Environment Examples Eleven Palms Overall, the environment appears very positive for Eleven Palms, Inc. The forces driving market demand, mainly economic and geographical, are strong, with more people staying closer to home for shorter getaway trips and their comfort level of visiting Lake Michigan, one of the Midwest's premiere travel destinations. On the negative side, there is competition, and it will take a while for Eleven Palms to get "established" in its market niche. Read More Read More Read More Read More 2019 Business Plan | Hotel Business Plan 9 / 20
- Competitive Analysis Competitive Advantage Start Writing here... Examples Eleven Palms Strengths of Eleven Palms, Inc. include John Doe's broad base of experience in managing different types of companies. He has extensive development experience and a track record of hiring the right people and training them. Doe understands the service sector business, has traveled extensively frequenting numerous lodging establishments and has gained invaluable experience in organizational management. Industry Keys to Success Start Writing here... Examples Eleven Palms 1. A property designed for the guest and/or lounge patron 2. Frequent Guest Award Program 3. Controlled overhead and operational costs 4. Regular and ongoing guest feedback 5. Latest technology/software capacity 6. Weekend lounge (piano bar, dance floor) entertainment SWOT Analysis upmetrics.co Read More Read More 2019 Business Plan | Hotel Business Plan 10 / 20
- Strengths Excellent services and security Good location and amazing landscape Reasonable prices and numerous activities offered Modern facilities and clean atmosphere Fresh foods Local cultures and traditions involve S Weaknesses Need a lot of capital Transportation Competitors W Opportunities Unique services offered in the region More profit earning] More visitors Increase GDP in the country Job opportunities O Threats Risky for transportation Trash from construction No clean water No electricity Weather and natural T 2019 Business Plan | Hotel Business Plan 11 / 20
- Strategy & Implementation Start Writing here... Examples Eleven Palms The business is driven by referrals and repeat business, so for the first few years Eleven Palms will need to be aggressive in attracting new guests. The marketing strategy is subject to change upon guest feedback and surveys. Marketing Strategies Start Writing here... Examples Eleven Palms Target Markets—Geographical: The major cities within a three-hour drive of the property. Target Markets - Consumer Start Writing here... Examples Eleven Palms New visitors traveling to the area Middle- and upper-income bracket Returning visitors to the area Businesses needing to hold small overnight planning and strategy sessions Area wedding parties Couples Positioning and Product Strategy Examples Eleven Palms For its guests, Eleven Palms will be positioned as a new, beautifully landscaped, nature-filled, unique atmosphere hotel with a bar lounge service that fits an adult "getaway" market niche. A full range of referral services (i.e. restaurant recommendations, shopping, taxis, area attractions) will be made available and tailored to the needs of the particular guest. upmetrics.co Read More Read More Read More Read More 2019 Business Plan | Hotel Business Plan 12 / 20
- Start Writing here... Distribution Strategy Start Writing here... Examples Eleven Palms Unlike products that are produced, then distributed, and sold, hotel and lounge services are produced and consumed simultaneously in a real-time environment. Thus, distribution issues center on making the services available in a convenient manner to the greatest number of potential guests. Eleven Palms will maintain a front office staff member throughout the night so guests are able to get answers to any question or service when they need it. This flexibility is especially attractive to Pricing Strategy Rooms per night fees have been developed. The fee schedule takes into account seasonal rates that are common in the area. For businesses and other large group functions, pricing can be discounted depending upon the number of rooms reserved. Example lounge pricing and grill food offerings are also noted. Example fees: Room Fees Winter Rates (November through April): Regular Rooms $109.00 Suites $149.00 Summer Rates (May through October): Regular Rooms $129.00 Suites $179.00 (Includes Continental Breakfast, use of indoor and outdoor pools, and exercise equipment room.) Fax Service (per page, outgoing) $0.75 Telephone Rates (set at going company rate) Hotel Safe Storage Fee (per day) $2.50 Read More 2019 Business Plan | Hotel Business Plan 13 / 20
- Liquor and Drink Fees "Top Shelf" Brands $4.75 - $7.50 Specialty Drinks $4.50 - $5.75 Well Drinks $4.25 Import Beers & Wine $3.75 Domestic Beers $3.25 Draft Beer $2.75 Juices, Bottled Water, and Soft Drinks $2.50 Grill Menu Rib-Eye Steak Sandwich $7.99 Chicken Breast Sandwich $5.99 Hamburger (1/4 pound) $5.99 Fried Cod Fish Sandwich $5.99 Salads $4.99 - $8.99 Chicken Tenders $4.99 - $6.99 Cheese Sticks (with sauce) $4.99 Frozen Pizza $6.99 - $8.99 Service and Support Philosophy Start Writing here... Examples Eleven Palms By giving careful consideration to customer responsiveness, Eleven Palms Resort's goal will be to meet and exceed every service expectation of its hotel and lounge services. Our guests can expect quality service and a total quality management (TQM) philosophy throughout all levels of the staff. Read More 2019 Business Plan | Hotel Business Plan 14 / 20
- Marketing Plan Start Writing here... Examples Eleven Palms Promotion strategies will vary depending on the target market segments. Given the importance of word-of-mouth referrals among all market segments when choosing a "getaway" hotel or small business meeting location, our efforts are designed to create awareness and build referrals. A cost-effective campaign— focused on direct marketing, publicity, our frequent guest reward program, and advertising—is being proposed. New Business Segment Start Writing here... Examples Eleven Palms A direct marketing (direct mail) package consisting of a tri-fold brochure, letter of introduction, and reply card will be sent to a list of potential guests. This list can be obtained from International Business Lists, Inc. (Chicago, IL) and is compiled from tax records (by upper-income geographical areas, Secretary of State incorporation registrations, business license applications, and announcements from newspaper clippings). Publicity and Public Relations Start Writing here... Examples Eleven Palms A news release will be sent to area newspapers and magazines announcing the launch of Eleven Palms, Inc. and lounge. Area talent searches will be conducted to secure weekend cabaret room entertainment. John Doe will join the Benzie County Chamber of Commerce as a means of networking in the community. He also may make himself available for speaking engagements at other community or civic organizations as a low-cost way of Guest Reward Programs Examples Eleven Palms For present guests: "Stay 6 nights and get the seventh night for free" promotion and as a means of building business by word-of-mouth, present customers should be encouraged and rewarded for referring future guests. This can be accomplished by offering a small "rebate" (5% or 10% rebate on first night stay) to current customers who successfully refer a new guest. upmetrics.co Read More Read More Read More Read More 2019 Business Plan | Hotel Business Plan 15 / 20
- Start Writing here... Advertising Start Writing here... Examples Eleven Palms Advertising is utilized primarily to attract new guests and serves to build awareness and name recognition of the resort in general, which is important for word-of-mouth referrals ("Oh yes, I've seen that resort's ads before.") Periodic advertising in target market area newspapers will afford Eleven Palms, Inc. name recognition benefits. From quarter page ads announcing Marketing and Promotion Budget Example of Promotion Budget Amount Resort brochure (2-color, 1,000 quantity, high-quality paper) $750 Reply card (2-color, 500 quantity, card stock) $250 Lists (new businesses, home-based businesses) $750 Postage (mailing 450 pieces) $500 Restaurant placemats (5 restaurants/10 events) $500 Newspaper advertising $5,000 Yellow Pages $2,000 Advertising specialties (give-away) $250 Total for 1999 $10,000 Evaluation & Control Strategies Start Writing here... Examples Eleven Palms Objectives have been established for Eleven Palms so that actual performance can be measured. Thus, at the end of its first year, Eleven Palms should have: $772,000 in total revenue Anticipate 57% occupancy rating Each subsequent year new objectives will be set for these benchmarks and Read More Read More 2019 Business Plan | Hotel Business Plan 16 / 20
- Financial Plan Project Funding Summary Here is the Project Funding Summary for Eleven Palms Resort: Project Funding Summary Amount Building and Improvements Cost $881,000 Fixtures, Build-Out and Furniture $353,739 Developmental Start-Up Expense $116,000 Five Months Working Capital $49,261 Total $1,400,000 Phase 1 Funding Amounts Sought Developmental costs for the start-up of this new hotel and lounge services company are listed above. These schedules also listed in the Ten Year Proforma. The following schedule highlights the anticipated developmental costs: Classification: Cost Liquor License $71,000 Architect Fees $7,500 Accounting $1,500 Marketing, PR & Advertising $10,000 Engineering & Permitting $5,000 Office Expense $2,000 Founders Draw (Gen. Contractor) $16,000 Legal $3,000 Total $116,000 The development of Eleven Palms Resort, Inc. will require the full-time talents of Steve Cowan. Phase II growth amounts will be developed and sought at a later date, based upon needs to be determined at that time. Financial Plan Assumptions Examples Eleven Palms The following assumptions will be incorporated into Eleven Palms Resort, Inc. proforma statements. All operating costs are based on Eleven Palms Resort, Inc. management research of similar operating companies. upmetrics.co Read More 2019 Business Plan | Hotel Business Plan 17 / 20
- Start Writing here... Automated informational and bar control systems will reduce Eleven Palms Projected Profit and Loss Year1 Year2 Year3 Year4 Year5 Revenues Product/Service-A $151,200 $333,396 $367,569 $405,245 $446,783 Product/Service B $100,800 $222,264 $245,046 $270,163 $297,855 Total Revenues $252,000 $555,660 $612,615 $675,408 $744,638 Expenses & Costs Cost of goods sold $57,960 $122,245 $122,523 $128,328 $134,035 Lease $60,000 $61,500 $63,038 $64,613 $66,229 Marketing $20,000 $25,000 $25,000 $25,000 $25,000 Salaries $133,890 $204,030 $224,943 $236,190 $248,000 Other Expenses $3,500 $4,000 $4,500 $5,000 $5,500 Total Expenses & Costs $271,850 $412,775 $435,504 $454,131 $473,263 EBITDA ($19,850) $142,885 $177,112 $221,277 $271,374 Depreciation $36,960 $36,960 $36,960 $36,960 $36,960 EBIT ($56,810) $105,925 $140,152 $184,317 $234,414 Interest $23,621 $20,668 $17,716 $14,763 $11,810 PRETAX INCOME ($80,431) $85,257 $122,436 $169,554 $222,604 Net Operating Loss ($80,431) ($80,431) $0 $0 $0 Income Tax Expense $0 $1,689 $42,853 $59,344 $77,911 NET INCOME ($80,431) $83,568 $79,583 $110,210 $144,693 Net Profit Margin (%) - 15.00% 13.00% 16.30% 19.40% Balance Sheet Read More 2019 Business Plan | Hotel Business Plan 18 / 20
- Year1 Year2 Year3 Year4 Year5 ASSETS Cash $16,710 $90,188 $158,957 $258,570 $392,389 Accounts receivable $0 $0 $0 $0 $0 Inventory $21,000 $23,153 $25,526 $28,142 $31,027 Total Current Assets $37,710 $113,340 $184,482 $286,712 $423,416 Fixed assets $246,450 $246,450 $246,450 $246,450 $246,450 Depreciation $36,960 $73,920 $110,880 $147,840 $184,800 Net fixed assets $209,490 $172,530 $135,570 $98,610 $61,650 TOTAL ASSETS $247,200 $285,870 $320,052 $385,322 $485,066 LIABILITIES & EQUITY Debt $317,971 $272,546 $227,122 $181,698 $136,273 Accounts payable $9,660 $10,187 $10,210 $10,694 $11,170 Total Liabilities $327,631 $282,733 $237,332 $192,391 $147,443 Share Capital $0 $0 $0 $0 $0 Retained earnings ($80,431) $3,137 $82,720 $192,930 $337,623 Total Equity ($80,431) $3,137 $82,720 $192,930 $337,623 TOTAL LIABILITIES & EQUITY $247,200 $285,870 $320,052 $385,322 $485,066 Cash Flow Projections 2019 Business Plan | Hotel Business Plan 19 / 20
- Year1 Year2 Year3 Year4 Year5 CASH FLOW FROM OPERATIONS Net Income (Loss) ($80,431) $83,568 $79,583 $110,210 $144,693 Change in working capital ($11,340) ($1,625) ($2,350) ($2,133) ($2,409) Depreciation $36,960 $36,960 $36,960 $36,960 $36,960 Net Cash Flow from Operations ($54,811) $118,902 $114,193 $145,037 $179,244 CASH FLOW FROM INVESTMENTS Investment ($246,450) $0 $0 $0 $0 Net Cash Flow from Investments ($246,450) $0 $0 $0 $0 CASH FLOW FROM FINANCING Cash from equity $0 $0 $0 $0 $0 Cash from debt $317,971 ($45,424) ($45,424) ($45,424) ($45,424) Net Cash Flow from Financing $317,971 ($45,424) ($45,424) ($45,424) ($45,424) SUMMARY Net Cash Flow $16,710 $73,478 $68,769 $99,613 $133,819 Cash at Beginning of Period $0 $16,710 $90,188 $158,957 $258,570 Cash at End of Period $16,710 $90,188 $158,957 $258,570 $392,389 2019 Business Plan | Hotel Business Plan 20 / 20
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Steps of your Hotel Business Plan. Let's dive into the step-by-step checklist of what your hotel business plan should look like. Infographic by Xotels. 1. Executive Summary. This first part should consist of two main parts, being: Mission Statement (Introduction): a 1 line company description only the essence of your hotel (not 2 lines or a ...
Reference your plan as you build and grow your business, and remember that it's ok if things change. 8. Illustrate your passion. Communicate why you want to be a part of the hospitality industry. Passion is contagious and gives investors more confidence that you will work hard to achieve your dreams.
A hotel business plan is a plan to start and/or grow your hotel business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections. You can easily complete your hotel business plan using our Hotel Business Plan Template here.
Hotel Business Plan Template. If you want to start a hotel business or expand your current one, you need a business plan. Over the past 20+ years, we have helped over 5,000 entrepreneurs and business owners create business plans to start and grow their hotel businesses.
A hotel business plan is a document that describes how a specific hotel expects to earn and how much will it cost to get it up and running. Writing it is a good way for an aspiring hotelier to understand the risks involved. It can also be used to get investors and partners on board, as a well-written business plan shows the hotel's potential.
Shelter Business Plans. Whether your business is a rustic retreat or a high-end bed and breakfast, these sample business plans for hotels, inns, resorts, and other lodging businesses will help you write a business plan that will guide you to business success. If you're looking to develop a more modern business plan, we recommend you try LivePlan.
If you have never made a hotel business plan before, check out these tips for some ideas on your design. 1. Add Executive Summary. Place the executive summary in your business plan's introduction. Your mission statement serves as an introduction to your design. It's typically a one-line statement that describes the essence of your company.
Plan Templates 15+ Hotel Business Plan Samples - PDF, Word. Hotels are one of the most lucrative businesses one can get into. They are especially profitable if the hotel business plan in question is located in a busy city or near a popular tourist destination. Being part of the hospitality industry, you will never run out of customers as long as your hotel is managed properly.
Any good hotel business plan sample doc needs to make sure of the thing that a proper feasibility report is made and the hotel is designed according to the demand in the area. Step2: Developing a Brand . This hotel business plan, just like a resort business plans needs to cover another important thing. This is developing a brand.
Plan. In the first phase, depending on the final financial and operational forecast, the hotel may be built with as few as 200 rooms, with a phase by phase plan prepared for the expansion of the complex over time. 2.4 The Local Licensing and Planning Framework The TRNC has been ceaselessly encouraging the development of the entire northern ...
Hotel Business Plan Template. 2. Hotel Business Planner Template. 3. Hotel Sales Business Plan Template. 4. Hotel and Resort Sustainability Management Business Plan. 5. Small Startup Hotel Business Plan.
Use our sample hotel business plan created using upmetrics business plan software to start writing your business plan in no time. Before you start writing a business plan for your new hotel business, spend as much time as you can reading through some samples of hotel and lodging-related business plans.
The Total Fee for Registering the Business in Las Vegas, Nevada: $750. Marketing promotion expenses (2,000 flyers at $0.04 per copy) for the total amount of $3,580. Cost for hiring Consultant - $5,000. Insurance (general liability, workers' compensation, and property casualty) coverage at a total premium - $30,800.
Example fees: Room Fees Winter Rates (November through April): Regular Rooms $109.00 Suites $149.00 Summer Rates (May through October): Regular Rooms $129.00 Suites $179.00 (Includes Continental Breakfast, use of indoor and outdoor pools, and exercise equipment room.)
Sample Hotel Business Plan
Resort Hotel Ski Lodge Business Plan. Silver Bear Lodge is a winter ski and summer vacation resort lodge. Writing your business plan doesn't have to be a chore. Just check out these sample business plans for hotels and motels to get some ideas and inspiration. If you're looking to develop a more modern business plan, we recommend you try ...
Yantar City, Elektrostal: See traveler reviews, candid photos, and great deals for Yantar City at Tripadvisor.
BM Hostel Krasnaya Presnya, Moscow: See traveler reviews, candid photos, and great deals for BM Hostel Krasnaya Presnya, ranked #591 of 2,843 specialty lodging in Moscow and rated 5 of 5 at Tripadvisor.
Places to see, ways to wander, and signature experiences. See all. Electrostal History and Art Museum. 19. Art Museums, History Museums. Statue of Lenin. 16. Monuments & Statues. Park of Culture and Leisure.
Elektrostal Business Hotels; By Hotel Class. 3-stars Hotels in Elektrostal; Near Landmarks. Hotels near Museum of Labor Glory; Hotels near Viki Cinema; Hotels near Statue of Lenin; Hotels near Park of Culture and Leisure; Hotels near Banya; Hotels near Electrostal History and Art Museum; Hotels near Galereya Kino; Hotels near Museum and ...