sample business plan hotel resort

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Sample business plan hotel resort phd economics thesis pdf

Sample business plan hotel resort

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, and dance floor space. Computer programs greatly simplify the financial recordkeeping for today's businesses. As a small business, Seven Elms Resort 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, reducing cash management, and maximizing revenue.

Seven Elms Resort shall attract the resources necessary to train and operate the system in order to generate the reports and manage the inventory. 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 :. Hotel and motel properties in adjacent communities are not listed, however, they do advertise in the Yellow Pages.

Seven Elms Resort hotel and lounge is 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. A review of competitors' marketing strategies reveals no one targeting this market segment.

Hotel and lounge is a referral-driven business—new business can be obtained by encouraging and rewarding present guests to refer future guests. Networking within business and civic groups is important; even if the business results are not immediately felt, it is an excellent public relations opportunity.

Live piano, or jazz style trio, on the weekends will add excitement to the resort and draw community residents and guests from other properties. 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 need can arise anytime year round. Even in the late fall and winter months people are thinking "getaway" to break the weather doldrums. Individual or couple investigates hotel services.

In most cases, this means the they will consider first any recommendations that they are knowledgeable of through prior association relative, friend, or social group. Criteria for selection include: 1 amenities pool, on-site food service, nonsmoking rooms, bar lounge area, etc. Based on the information received, the individual or couple makes a decision and either schedules an appointment to view the property or makes a reservation.

Everyone associated with Seven Elms Resort will do everything possible to ensure a satisfactory experience for the guest, so that future business and a future referral is not at risk. Marketing strategies will build on this model, taking advantage of precipitating events, fostering word-of-mouth recommendations, and creating satisfaction through interacting with the future or present guests. Overall, the environment appears very positive for Seven Elms Resort, 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 Seven Elms Resort to get "established" in its market niche. The business is driven by referrals and repeat business, so for the first few years Seven Elms Resort will need to be aggressive in attracting new guests.

The marketing strategy is subject to change upon guest feedback and surveys. Target Markets—Geographical: The major cities within a three-hour drive of the property. For its guests, Seven Elms Resort 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. Business services range from room phones that are Internet jack ready and telephone answering message service for each room to on-site fax services and meeting room space lounge sitting area and cabaret room. Seven Elms Resort will aim to attract business guests and their partners needing to hold planning or strategy sessions away from the office in a new and comfortable surrounding, in order to even out revenues throughout the week.

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. Seven Elms Resort 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 the business traveler. Clients will be able to contact Seven Elms Resort by telephone, fax, and e-mail. 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. By giving careful consideration to customer responsiveness, Seven Elms 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. 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.

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. The brochure and letter introduces Seven Elms Resort, stresses the importance of having a good time in comfortable surroundings, provides information on our resort services, and describes what sets us apart from other area hotel and lounge properties.

Approximately two months after the mailing, an additional letter shall be sent. The potential guest would be asked to address any questions and the follow-up would remind them to drop in for a property tour on their next trip to Lake Michigan.

Additionally, new businesses will be targeted and sent information. The cycle would repeat itself with new target communities and select businesses and would continue through the first year. After that, additional mailings would be conducted, as needed, based upon occupancy goals. The newsletter can be used to update clients on hotel and lounge and area-related developments, but also serves as a reminder of what sets Seven Elms Resort apart. The newsletter can be produced in-house and for the cost of paper and a stamp creates a lot of goodwill among guests and business prospects.

A news release will be sent to area newspapers and magazines announcing the launch of Seven Elms Resort, Inc. Area talent searches will be conducted to secure weekend cabaret room entertainment. Steve Blackburn 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 increasing awareness and building goodwill in the community.

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. 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.

Objectives have been established for Seven Elms Resort so that actual performance can be measured. Thus, at the end of its first year, Seven Elms Resort should have:. Each subsequent year new objectives will be set for these benchmarks and actual performance will be measured against them. If actual performance falls short of objectives, investigation will be made into the cause, and plans will be adjusted accordingly.

In addition, it is recommended that Seven Elms Resort keep track of the source of all new guests "Where did you hear of us? Each subsequent year's budget should adjust spending toward the types of promotion that reach the most new clients. Customer satisfaction is most directly reflected in the year-to-year customer retention percentage. All lost customers should be investigated to find out why they left. A customer satisfaction survey may be considered after three to four years in the business.

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 development of Seven Elms Resort, Inc. Phase II growth amounts will be developed and sought at a later date, based upon needs to be determined at that time. The following assumptions will be incorporated into Seven Elms Resort, Inc. This is the resume of Steve Blackburn, the future owner of Seven Elms Resort Steve Blackburn has demonstrated experience in business and sales organization development.

Developed and secured funding for own organization, author of several successful RFPs, business and market development plans. Has expertise in customer retention programs, sales training seminars, project planning, benchmark analysis, and forecasting and budgeting. Designed and implemented computer applications including: customer database service frequency schedules, truck routing, customer retention surveys, accounting and commission salary programs.

MRT Environmental, Inc. Co-founder, Business Development, Marketing, and Sales. A consulting and facilities development organization for environmental services clients in the health care industry. My responsibilities included: development of project opportunities and clients, sales personnel and training, advertising and promotion, and financial record keeping. Vice President - Sales and Development.

Market development and direct sales management for all regional special services subsidiaries. Developed region's first comprehensive medical waste service organization by identifying and marketing to the healthcare industry an emerging service bundle of packaging, transportation, in-service training, and treatment of medical wastes. Serviced all sectors of the healthcare industry from physician offices through major medical centers. Market Development Representative and Environmental Specialist.

Analyzed new business development opportunities in all service areas. Municipal waste contracts, waste company acquisitions, landfill development, and expansions and ancillary specialty services. Responsible for training, sales functions, regulatory data submittal, and special waste stream permitting. Created computer applications and processing systems to maximize efficiency and minimize errors. Notre Dame University - Graduated Completed a course of study for a B.

Toggle navigation. 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 the best templates for that, just for you. Keep scrolling!

First of all, you have to check with the proper authorities to look for the required authorization and paperwork that are needed to establish your hotel. Then you need to meet up with architects, engineers, designers, and other people with expertise that is related to constructing the physical building of your hotel itself. Take a look at the catering business plans for more. Business Plan for Hotel researchgate. Both the paperwork and the physical hotel building will not exist without funding.

Starting a hotel will need money. It will need lots of money. How are you going to get that money? You simply get that money. Well, if you have a lot of money that is. Truth is, getting that funding it is not that simple. You will need a lot of help from different kinds of people to secure that money. These people will be your potential business partners and in order for you to convince them to become real business partners, you will need a plan. You will need a hotel business plan.

Business Plans A business plan is a formal statement of business goals, reasons that they can be attained, and the plans that they can be reached. The business plan can also contain background information about the team or organization that is presenting it. The format and message of a business plan may be altered depending on which audience it will be presented to. If the said business plan is to be presented to bank people, then its focus will be on the interests of the said bank people.

As such, one company may have multiple business plans. Furthermore, business plans may contain them with more detailed plans that are related to the business, some of which include, financial plans, operational plans, and strategic plans.

Check out the travel business plans as well. Bed and Breakfast Business Plan Sample womensownresource. As such, this audience will determine what type the business plan will be. These types are externally focused business plans and internally focused business plan. Externally Focused Business Plan Externally focused business plans target goals that are essential to external stakeholders, especially those of the financial kind. This kind of business plan usually contains detailed information about the organization or team attempting to reach their goals.

For a hotel business plan, the external stakeholders may include customers and investors. These might focus on the development of new products , new services, restructuring of finance, or even the restructuring of the organization. This type of business plan is usually developed in conjunction with a balanced scorecard to allow the success of the simple plan to be measured using non-financial measures.

The internally focused business plan may share some similarities with the strategic plan however they differ in the fact that a strategic plan only identifies and targets internals goals but provide only general guidance on how they can be accomplished. Even if they share the audience, the way a business plan is written will probably differ from company to company.

However, there are important elements or sections that all business plans to share. These sections are crucial in order for the said business plan to deliver its message to its audience. In order for it to be effective, a small business plan has to have the following sections. Executive Summary The executive summary is first seen, last written. This section of the business plan contains, as it is aptly named, the overview of the entire business plan. Its aim is to summarize the whole of the business plan in a way that entices them to read the whole document.

The executive summary should include the most important information upfront. For your hotel business plans, this section must describe your hotel, summarize your market analysis and prove that a new hotel is needed and feasible. You should also provide a reason why you meet that need and how you can meet that need. However, as this is only a summary, you should only write it in at least one to two pages. Company Analysis This section of the business plan describes your company as the way it is today.

In your case, the company analysis , talk about its founding, current business stage, and legal structure. It is also a good idea to show and outline important past milestones. Milestones such as securing key funding or hiring key personnel staff. It is also in this part that you can show off the more unique characteristics of your hotel. Industry Analysis The hospitality industry encompasses a lot. Within it, includes the tourism industry and the service industry in which the hotel services are included.

Analyzing the whole industry in which your business is a part of can be daunting. In this part, you can select and decide which niche you want to focus on. Research the projections and trends that affect this said niche. Also, include in this part your sample plan to overcome any hurdles you find in your research. Customer Analysis All travelers are potential hotel customers.

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Beach Resort Business Plan

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Encyclopedia of Business, 2nd ed. Hotel Resort Business Plan: Business Plans - Volume Start and grow your Resort Hotel Ski Lodge business with a proven business plan. Download your Resort Hotel Ski Lodge sample business plan. The following Hotel business plan template gives you the key elements to include in a winning Hotel business plan.