Hotel business plan
Find out the timing and cost of developing a business plan for your investment project
The business plan of the hotel is a document that defines all the main aspects of the future enterprise (project) from the point of view of the manager responsible for the implementation of the future project:
The hotel business plan describes the following aspects of the company:
- external environment of the hotel;
- internal environment of the hotel;
- material, labor, financial and other types of hotel resources required for the implementation of the project ;
- organizational plan for the implementation of the project to create a hotel;
- forecast of the project's financial performance;
- project risks and ways to minimize their negative consequences;
- the economic efficiency of the project.
Appointment of the hotel business plan
The business plan of the hotel is necessary for the implementation of the following tasks:
- planning the Company's activities for the long term;
- coordinating the activities of employees;
- assessing financial performance and risks for investors and creditors.
Hotel business plan users
The main users of the hotel business plan are:
- Entrepreneur. Can use the Company's business plan to test the reasonableness, feasibility, feasibility and cost-effectiveness of their ideas.
- Hotel management. Uses the hotel's business plan to plan and coordinate long-term activities.
- Hotel workers. They can use the hotel's business plan to understand the long-term prospects of the project, their tasks and career prospects.
- Third party investors. Use the hotel's business plan to assess the effectiveness and risks of the project and decide whether to participate in it.
- Lenders - to make a decision on the provision of borrowed funds.
The structure of the hotel business plan
Typical structure of the Hotel Business Plan includes the following sections:
A competent business plan for the construction of a hotel or hotel complex is necessary for both a novice entrepreneur and a businessman with experience. This is explained primarily by the multilevel activity, the volume of preparatory and operational work, and a large number of diverse tasks.
Due to the increasing mobility of the population and its geography, the popularity of hotel services is growing. Therefore, opening a hotel is undoubtedly a profitable business, however, at the initial stage it is associated with rather large investments, the calculations of which should be determined by a ready-made business plan.
The creation of a private hotel complex requires a business plan also because in a highly competitive market it is difficult to stay afloat without a clear and well-thought-out action plan.
Hotel opening as a business idea
When drawing up a hotel business plan, a novice entrepreneur needs to evaluate this business option from all sides, weigh the pros and cons.
Due to the socio-economic conditions in the country, the demand for hotel services of various formats is steadily high. In addition to the need to live somewhere for a period of vacation or business trip, people see a certain stability, legality and security in a hotel, in contrast, for example, to renting apartments for the day. All this determines the huge demand for hotel accommodation, and hence its profitability.
However, in addition to the merits, the business plan for the construction of the hotel should also assess the scale of possible financial risks, for example, due to a seasonal decline in demand or the economic crisis in the country.
An example of a business plan for the construction and opening of a hotel with market analysis, calculations and presentation
Table of Contents
Features of the hotel complex
The article discusses the basics of drawing up a business plan for opening a suburban mini-hotel. The tourism industry in Russia is developing every year, the constant flow of both domestic and foreign tourists necessitates their comfortable accommodation. In this regard, the construction of a hotel can be a promising investment for an entrepreneur.
To reach a payback and profit, it will be necessary at the planning stage to provide all possible nuances and carry out the necessary calculations. For this, a business plan is drawn up.
With the help of a mini-hotel business plan, you can get additional financing in the form of a bank loan.
The procedure for drawing up a business plan for the hotel
Before starting to describe the concept of the future mini-hotel, it is important to analyze the current market situation within the framework of the business plan and determine:
- Main competitors;
- Pricing procedure;
- Factors influencing the development of the industry;
- Promising tourist destinations ;
- Consumer preferences.
On the basis of the data obtained, not only the company's model is formed, but also its marketing strategy, organizational structure, and a financial plan is drawn up.
An example of a business plan for the opening and construction of a country mini-hotel with calculations
Table of Contents
Opening a hotel is a business idea that enjoys success among entrepreneurs who have a talent for management and organizational work. The success of a business idea can be explained simply - hotel services are needed both in large cities with a population of many thousands, and in small provincial towns. The economic crisis also did not become an obstacle to the development of the hotel services sector. However, the preferences of customers have changed: people began to rent rooms of the "economy" class rather than the "luxury" class.
First, an entrepreneur chooses a business format. For novice businessmen, an actual option is to open a mini-hotel with up to 15 rooms. Such a hotel format will provide both an influx of income and a minimum of maintenance costs. In this case, the choice of direction may be different. So, a hotel can be a youth hostel, family hotel, motel, and so on. Moreover, you can choose a combination of several directions at the same time. Opening a hotel with 15 rooms will cost a novice businessman more, but it will attract the attention of tourists and business travelers.
The hotel should be located in a separate building with a separate entrance and a separate fire exit. This must be foreseen when preparing a business plan for the opening of a mini-hotel.
Relevance of the idea
The economic crisis did not affect the demand for hotel services. The only thing is that the demand for expensive and overly comfortable rooms has fallen, and preference has begun to be given to practicality and an acceptable price. But the demand for hotel service itself has not disappeared.
The implementation of a business project begins with planning and developing a business plan for the hotel. Without careful planning, the implementation of the idea is impossible, since in this case a complete failure is guaranteed.
- the relevance of the idea;
- analysis of the hotel business;
- funding sources;
- the timeline for the implementation of the idea.
Starting a business requires investments, so before moving on to action, it is worth considering the aspect of finding investors.
Pros and cons of a business idea
Actions to establish and develop a business are preceded by a detailed analysis of a business idea for the presence of positive and negative aspects.
- Constant demand. As noted above, the demand for hotels exists always and everywhere. However, it should be noted that hotels are in great demand if objective conditions are met.
- Regular customers. It is important for a recently opened hotel to occupy a niche in the business, and this can be done if regular customers are found. Rumors of a hotel offering high quality service for a reasonable fee will spread quickly.
- Income level. A well-organized hotel business is a profitable business that can bring the owner a good income.
The attractiveness of the hotel business is obvious, so aspiring entrepreneurs often choose this direction. This ultimately creates competition among businessmen. Naturally, for consumers of hotel services, this situation is positive, since only the strongest survive with healthy competition. But, businessmen have to make a lot of efforts to keep the business functioning and making a profit.
Opening a mini-hotel is a good business idea for entrepreneurs who have good management skills, are able to competently organize work and reduce unnecessary costs. The appeal of this idea lies in the fact that people constantly need hotel services, even during the economic crisis. Only the emphasis of demand is changing from the luxury category to the standard or economy. In this article, we present a detailed business plan for a mini-hotel that will help you organize the work correctly, calculate the profitability and return on business, conduct a SWOT analysis and build a competent marketing strategy.
Mini hotel business plan
Feature of the hotel business
In order to immediately determine the format of the business, it is necessary to stipulate that the number of rooms in a mini hotel, according to GOST, should be within 3-15 rooms. At the same time, the business can be implemented in several directions at once. This is the creation of youth hostels, and the opening of family friendly hotels. A 15-room hotel, which will attract the attention of business travelers and tourists, will be much more expensive for a novice businessman.
GOST also regulates the placement of a mini-hotel only in a separate building with its own entrance. An emergency exit may be needed - these moments will already be established by the Fire Inspectorate.
Feature of the hotel business
Mini hotel can be located only in non-residential premises.
Relevance of the idea
Despite the economic instability in the country, the demand for hotel services did not fall. Today they give preference not to fashionable hotels, but to practical and inexpensive mini-hotels that can offer quality service at an affordable price.
Let's focus on the main points that you should pay attention to in order to launch a successful project.
The implementation of any project is preceded by a stage of careful planning. No matter how original and relevant a business idea is, without strategic planning, analysis of the competitive environment, market capacity, it is impossible to launch a project.