Home Add to Favorite Contact Submit  
             01 February, 2023

Category:  Articles » Business » Strategic-Planning


Relaxing As You Create A Great Hotel Business Plan

         Views: 2576
2006-09-11 20:23:34     
Article by Shaunta Pleasant

There are many excellent businesses which can provide a very good living for smart business owners and entrepreneurs, but given the right location a hotel business can be one of the best.
Before swinging the doors of the hotel open, however, it is important to sit down and work out a solid and professional hotel business plan.
Using Your Hotel Business To Provide A Guideline For Success
Having such a hotel business plan in place can provide an important guideline for the success of the business, as well as providing much needed information to potential lenders, investors and business partners.
In fact, the hotel business plan is one of the first documents many of these would be investors will want to see.
Savvy investors will want to carefully review the information contained in the hotel business plan and use it to make an informed decision about the prospects of the business.
Elements To Include In Your Business Plan
There are a number of elements any well written hotel business plan must contain, including the name of the business, the location of the new business, how many employees the business plans to hire and the timeline for building, stocking and opening the business.
Detailing What Is Going On In Your Local Market
In addition there are a number of elements that will be unique to the hotel business plan, including information on local attractions that draw visitors to a particular area.
In order for a hotel business to succeed, it is important that the area in which it operates be growing and thriving, and that there be sufficient business and leisure travel to justify the addition of more hotel rooms.
Thus it is important that the hotel business plan contain information on the number of existing hotels in the area, including as much information on vacancy rates as possible.
It is important as well for the hotel business plan to include information on what will make the new property different, and how it will successfully compete in a crowded marketplace.
Listing Your Plan To Attract And Keep Good Employees
It is also important for the hotel business plan to include information on how the owners of the business plan to attract and retain qualified hotel staff.
The turnover rates for maids, housekeepers and front desk personnel at hotels is notoriously high, and potential investors will want to see that the business owner has considered this problem and thoroughly addressed it.
It is important for the hotel business plan to include at least a few paragraphs relating to the attraction and retention of qualified hotel staff members.

Print article      Bookmark this page
Related Articles 
Daycare Grants Requirements (Popularity: ): If you're a parent who simply cannot give up your work for the bright future of your children, finding the best daycare is the ultimate solution. This stage is very crucial for your kid since this education is important for total well being, emotional and intellectual development of the child. But what if you don't have money? Must it discourage you to provide the vest education for your child? Not ...
A Methodical Approach to PCI Compliance (Popularity: ): The PCI DSS, or Payment Card Industry Data Security Standard, is a set of standardized requirements that merchants who store, transmit, or process sensitive information must adhere to. These requirements can be complex and time consuming, but if you take a more methodical approach to PCI compliance, some of those mandated procedures might not be so bad.The fist step is to analyze your priorities. How important is PCI compliance to ...
Homogeneous and Heterogenous Environments of Organizations (Popularity: ): Complexity is the degree of similarity or diversity between the factors in an organization's environment. When factors are similar, the environment is referred to as homogeneous. When factors are diverse, the environment is referred to as heterogeneous.Organizations operating in homogeneous environments can specialize in producing one good or service to be distributed to the market. Homogeneous environments also allow an organization to simplify its operations as the knowledge and skills ...
Location Accuracy at Target (Popularity: ): Anyone who works at Target will tell you that a very large part of Target's logistical system is making sure that things are stored in the backroom correctly and in an orderly fashion. At Target a very important evaluation tool is something called location accuracy. In order to understand the concept of location accuracy you need to understand how the LRT works. The LRT is a device used at Target ...
SAS Statistical Analysis Software Can Save an Enterprise Millions (Popularity: ): SAS (Statistical Analysis System) is a 4th generation procedural language that allows programmers to use statistical data analysis and data dining to build descriptive and predictive statistical models. Data mining is the process of discovering previously unknown, actionable and profitable information from large consolidated databases and using it to support tactical and strategic business decisions and it is made very easy with SAS.The statistical techniques of data mining include linear ...

Related Business 
Lincs Driver Training (Popularity: ): Become a Driving Instructor with Carol Morley. Key facts for your business plan In order to finalise your business plan and create an accurate financial plan for your new business venture we give you a full break down of all the investment details here.
Travel Hotel in Hanoi (Popularity: ): Let us take you back in time on a fascinating relaxing journey with the most trusted travel hotel in Hanoi. Anise Hotel provides very comfortable stay for both business and leisure guest and travellers. Call to 84 4 39274670 for more details.
Greetings From Hotel Him View Manali (Popularity: ): Hotel Him View, a name that is famous as a Hotel By River Side in Manali near Club house is visitors choice for family stays & comfort holidaying. Year after year, every season, we plan a complete, relaxing and rejuvenating holiday for your family and friends with unforgettable memories. Come alone or bring family with you, stay here for a night or for weeks, your experience will always be exciting ...
Intercontinental Hotels Group (Popularity: ): IHG is an international hotel company whose goal is to create Great Hotels Guests Love. We have more guest rooms than any other hotel company in the world - that's rooms in more than 4,150 hotels across nearly 100 countries. Our guests book over 160 million stays in IHG hotels every year. You can depend on our 7 great brands for a hotel that suits your travel needs or tastes. ...
Business Plan Visa (Popularity: ): Redaction de Business pour votre visa US. You are about to take one of the most important decisions of your life. Come and settle in the United States and create a company may seem complicated, but with a good immigration attorney and our assistance, the doors of this great country open at once more easily.
Business Plan Consultants (Popularity: ): A quality website offering the best business plans at affordable prices. Business plan articles, business plan tips, business plan quotes and more. All information on our website in Canada.
Tempe Hotels & Conference Centers (Popularity: ): Tempe Mission Palms is a hotel and conference center located near Phoenix & Scottsdale. Welcoming you with elegant Southwestern hospitality, this Tempe hotel offers relaxing accommodations, on-site amenities and a great location in the Phoenix area.
Business Plan Assistance (Popularity: ): A feasibility plan is very simple start-up plan that includes a summary, mission statement, keys to success, basic market analysis, and preliminary analysis of costs, pricing and probable expenses. This kind of plan is good for deciding whether or not to proceed with a plan, to tell if there is a business worth pursuing. We set the business plan assistance activities which are the priority for the students.
Restaurant Business Plan Help (Popularity: ): Restaurant Business Plan Help: We just do not provide business plans we provide results. Get our result oriented business plan service that is customised to meet your needs. Our panel of seasoned writers and business analysts will devise a restaurant business plan for you that is very hard to decline. Our style of writing is also very distinct and versatile.
The Daycare Business Plan (Popularity: ): We can produce a customized Daycare Center Business Plan for your company. Whether you are a young entrepreneur or seasoned businessmen in search of a plan that can kick start your daycare center business, we can provide you an original and detailed business plan. We also deal in child care center business plan and have delivered quality and detailed plans.