Hotel and Resort Business Plan, Marketing Plan, How To Guide, and Funding Directory
The Hotel and Resort Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start a Hotel and Resort business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.
Your Business Planning Package will be immediately emailed to you after you make your purchase.
Product Specifications (please see images below):
Hotels and resorts are popular businesses during normal prosperous economic times. One of the drawbacks to hotels and resorts that focus on leisure that during times of economic recession their revenues due to client significantly. However, if these facilities are located in markets that are traveled heavily for business than these companies are usually able to remain profitable in all economic climates. The barriers to entry for starting a new hotel and resort are extremely high given the very large capital investment required in order to launch these types of businesses. The gross margins from nightly room rentals are also very high and many of these facilities also generate revenues from a number of other services including golf courses, boating, food and beverage service, as well as many other types of services that are normally provided an entertainment resort.
Most all hotels and resorts require financing in order to develop their real estate. As such, a hotel and resort business plan is needed. Generally, a hotel resort business plan will feature a three-year profit and loss statement, cash flow analysis, balance sheet, breakeven analysis, and business ratios page. These type this type of documentation is almost always required given the fact that a loan for the real estate is almost always used when a new hotel and resort facilities being developed. Within the business plan as well – a full analysis pertaining to the market size, population size, traveler information, median household income, median family income, and competitor information is also included.
After the business plan is developed, a full scale marketing plan also needs to be developed as well. This marketing plan needs to focus on developing print advertisements, maintaining relationships with online booking companies, developing relationships with travel agencies, and maintaining expansive online presence. Given these size and scope of most hotels and resorts – an advertising and marketing firm is usually hired to conduct this up duration on behalf of the company. It is extremely expensive to have a full scale marketing team in-house and as such many hotels and resorts have found it to be a better use of their capital to work with a third-party advertising agency in order to develop marketing materials. A web developers and was always hired to integrate specialized e-commerce functionality that allows for the placement of reservations directly on the hotel and resorts website.
After the marketing plan and business plan are developed, it is time to produce the hotel and resort SWOT analysis. This document outlines the strengths, weaknesses, opportunities, and threats that are normally associated with the ongoing operations of the hotel and resort. As it relates to strengths, hotels and resorts are generally able to remain profitable in most economic climates provided they also cater their services to business travelers and companies. For weaknesses, the have very high operating costs. Additionally, a very large loan is and was always carried on the hotel and resort property. For opportunities, many hotels resorts will frequently seek to develop operations that include event hosting, catering, and related services in order to boost revenues not only from the services but also from additional rental rooms. As it relates to threats, outside of a major economic recession most hotels resorts do not face much threatening issues outside of ongoing competition.
A hotel and resort can be a highly lucrative business opportunity provided that the entrepreneur or group of investors that are looking to develop these facilities have the appropriate amount of capital in place in order to cover the development – which can take several years – as well as a very high ongoing operating costs that will be incurred while the hotel resort is working towards becoming profitable. These businesses are immune from technological changes regarding automation as people will continue to want to travel at all times.