Posted in Articles by Masterplans 5 Star Hotel Business Plans A 5-star hotel business plan should include all of the luster that a 5-star hotel itself has—a careful description of the rooms and amenities, a cogent look at the market for the establishment, and a well-crafted marketing strategy to help promote the hotel.
Do you need a sample hotel business plan template or feasibility study? Do you want to do business in the tourism and hospitality business?
Then I advice you read on! If you are planning on starting your own hotel business, then you should know that though hotel business is a profitable venture with a lot of opportunity for expansion, it involves a lot of technicalities and is not so easy to start.
The procedure for starting a hotel business is quite technical and involves a lot of planning and strategizing. So in this article, I will be highlighting everything you need to know about starting a hotel business.
Why You Should Start a Hotel Business Today If you have an opportunity to visit Owerri a city in Imo state during the weekend Fridays, Saturdays and Sundaysyou will be shocked to discover that despite the huge number of hotels dotting the city, there is no accommodation space in any of the hotels.
And surprisingly enough, Owerri is not even among the top ten cities in Nigeria Lagos, Kano, Port Harcourt, Ibadan, Ogun, Enugu, Abuja should be in the lead ; with respect to population and level of industrialization. What this goes to show is that hotel and hospitality business is a profitable business anytime any day, as long as you are sited in a good location.
Now regardless of your country of residence, you can start a hotel; whether on a large or small scale. So if you reside in Nigeria, United states, Canada, Ghana, etc; you will find this article useful. Decide on the type of hotel facility you want to open First, you have to decide on the type of hotel you want to open.
Hotels are categorized according to a number of factors. Some of these factors include: The size of the hotel Where the hotel is located Type of services offered and the number of rooms available.
Some popular types of hotel include: Bed and Breakfast hotels: Bed and breakfast hotels usually have about rooms. These hotels are cheaper and offer limited services. Bed and breakfast hotels are usually run by the owners of the facility who also serves breakfast to the guests.
Budget hotels offer cheap accommodation to guests with limited services. Resort hotels usually have recreational facilities like a golf course, a beach or an island where guests can enjoy these facilities while they visit.
Airport hotels provide accommodation for travelling passengers to pass the night. They are usually located close to the airport. Suite hotels are increasingly becoming popular in the hotel industry.
Suite hotels provide guestrooms that also have an attached living room and sometimes, a kitchenette where guests can cook their meals. Business hotels are usually built with the business traveler in mind. They offer complimentary newspapers, internet access, business centers and fax machine services to guests.
Create an innovative concept The hospitality industry is very competitive with various hotels springing up yearly.LUXURY HOTEL AND RESIDENCES VANCOUVER, BRITISH COLUMBIA PRACTICUM MASTER OF SCIENCE ( $).
(All amounts in the business plan are presented in Canadian $.) The primary competitive addition in the market is the room Shangri-La, which will open on an luxury hotel brand and access to five-star hotel facilities and amenities. Buyers. Banff city market hospitality business situation is on its competitive edge with variety of luxury 5 star facilities to 3 star hotels, motels and restaurants with price range CAD $ - $ We Irwin properties possesses good information about the market and knows a great deal about the common attributes of the most prized and loyal customers/5(11).
“New Retail, New Design”—5 Star Plus’ Insights at CBBC London April 28, The China-Britain Business Council (CBBC) hosted an event on August 30, in London focusing on developments within China’s retail landscape.
8. Management Team Include the bios of your team. Focus on what uniquely qualifies you to make your hotel such a success. 9. Financial Plan Provide the start-up costs of the hotel (capital investment), the ingoing business costs, operational expenses and revenue projections for the next five years/5().
Product Description. Business PlanMaker Professional provides all the tools you need to write a quality plan and get funded. Easy, step-by-step guide walks you through every part of your plan with "plain-English" instructions, advice, and how-to hints. The Associated Press delivers in-depth coverage on today's Big Story including top stories, international, politics, lifestyle, business, entertainment, and more.