business plan for a hotel

Hotel Business Plan Template

Written by Dave Lavinsky

Hotel Business Plan

You’ve come to the right place to create your hotel business plan.

We have helped over 100,000 entrepreneurs and business owners create business plans and many have used them to start or grow their hotel companies.

Sample Hotel Business Plan Template

Below is a template to help you create each of the key elements of your own hotel business plan:

Executive Summary

Business overview.

Pegasus Hotel is a startup full-service independent luxury hotel in Austin, Texas. Owned by two local businessmen, Frank Girard and Miles Butler, it will serve the new up and coming district of the outskirts of Austin and cater to the locals and travelers who crave a luxurious and relaxing atmosphere. Pegasus Hotel will be a 10-story, 360-room hotel with a five-star restaurant and bar, relaxing pool and spa, 20,00 square feet of meeting and event space, a spacious and fully-equipped fitness center, and a view of scenic Austin. Pegasus Hotel will hold weddings and events, meetings, retreats, and those looking to unwind and be pampered while staying at the hotel. The service and amenities will be first class and the concierge will treat guests with extreme care and ensure guest satisfaction is held at an exceptional standard..

Service Offering

The following are the services and amenities that Pegasus Hotel will provide:

• 354 luxury rooms, two presidential suites, and four parlor suites
• Olympic size pool with adjacent hot tubs and surrounding cabanas
• First-class full-service spa
• First-class restaurant and bar
• Spacious fitness center
• Over 20,000 square feet of attractive meeting space for events
• Concierge and butler service
• Complimentary wifi
• Valet service
• Laundry service
• Business center

Customer Focus

Pegasus Hotel will target the population of Austin, Texas, its surrounding communities, and travelers visiting Austin for work or play. Guests will be mid to high level income, enjoy traveling, enjoy visiting spas and high-end restaurants, and work in the corporate or government sector.

Management Team

Pegasus Hotel will be owned by Frank Girard and Miles Butler. They will act in an Owner capacity, and will not be involved in the day to day operations of the hotel. Frank and Miles will hire the appropriate staff to ensure Pegasus Hotel is a profitable and successful business.

Lorenzo Falucci, General Manager, has over twenty years of experience in the hotel industry. He has most recently managed another independent boutique hotel in New York and was excited to be recruited by Frank and Miles to operate the Pegasus Hotel.

Lorenzo will hire Lisa Montgomery as the Director of Sales and David Jimenez as the Assistant General Manager. Lorenzo, Lisa, and David will be the senior management team of Pegasus Hotel. They will oversee all other department managers – Maintenance, Housekeeping, Front Desk/Guest Relations, and Food and Beverage. Each department manager will oversee various employees in their respective department and role. The Pegasus Hotel will have a large and sophisticated operation as each department is integral in the success of the hotel.

Success Factors

Pegasus Hotel will be able to achieve success by offering the following competitive advantages:

• Friendly, attentive, and highly responsive staff that caters to each guest and will be able to provide the best guest experience possible.
• Luxurious amenities throughout the hotel that will make each guest feel pampered.
• Modern and contemporary designed hotel tucked against a beautiful Texas landscape perfectly suited to host any event.
• Competitive rates and frequent guest discounts.

Financial Highlights

Pegasus Hotel is seeking $10,000,000 in debt financing to begin constructing the hotel and commence operations of the business. The funding will be dedicated towards securing the land lease and the hotel build-out and design. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff, furniture, fixtures, and equipment, initial inventory, and working capital. The breakout of the funding is below:

• Secure the land lot, architecture, build-out, and design: $6,000,000
• Hotel furniture, fixtures, and equipment: $2,000,000
• Initial inventory: $750,000
• Three months of overhead expenses (payroll, rent, utilities): $1,000,000
• Marketing & advertising: $150,000
• Working capital: $100,000

The following graph below outlines the pro forma financial projections for Pegasus Hotel.

Company Overview

Who is pegasus hotel.

Pegasus Hotel is a startup full-service independent luxury hotel in Austin, Texas. Owned by two local businessmen, Frank Girard and Miles Butler, it will serve the new up and coming district of the outskirts of Austin and cater to the locals and travelers who crave a luxurious and relaxing atmosphere. Pegasus Hotel will be a 10-story, 360-room hotel with a five-star restaurant and bar, relaxing pool and spa, 20,00 square feet of meeting and event space, and a view of scenic Austin. Pegasus Hotel will hold weddings and events, meetings, retreats, and those looking to unwind and be pampered while staying at the hotel. The mission statement of the hotel is to provide first class service and amenities.

The guests rooms will include luxury beds and bedding with best-in-class furniture and bathroom fixtures. Pegasus Hotel will also have a full-service spa that will be able to provide massages, facials, makeup and/or hair service, steam rooms, and a sauna. The Olympic-sized pool will have adjacent hot tubs with a swim-up bar and surrounding cabanas. Pegasus Hotel will be equipped with state-of-the-art fitness equipment in its spacious gym. The restaurant will be a high-end steakhouse that will feature entrees from a world-renowned chef and a wine list cultivated by the area’s most respected sommelier. There will also be over 20,000 square feet of meeting space that will hold weddings, bat mitzvahs, reunions, galas, and any special event.

Pegasus Hotel will be independently owned and operated and will feature its own reservation system and operational software. Each employee will be expertly trained and vetted to pass luxury industry guest service standards. Pegasus Hotel is committed to providing the best guest experience possible while maintaining a profitable hotel. Pegasus Hotel aims to be a step above the rest and be an unforgettable experience for all who step foot into the hotel.

Pegasus Hotel History

Pegasus Hotel is owned by two local businessmen, Frank Girard and Miles Butler. Frank and Miles have been friends and business associates for over thirty years. They became friends in college while attending The University of Texas at Austin. Frank is a real estate developer specializing in commercial real estate and multi-use land projects. Miles is a software engineer who has built multitudes of software programs for various companies. They have both been extremely successful in their careers and want to divest their investments in a large-scale full-service hotel in Austin, Texas.

Since incorporation, Pegasus Hotel has achieved the following milestones:

• Acquired a 40-acre lot on the outskirts of Austin, Texas.
• Registered Pegasus Hotel, LLC to do business in the State of Texas.
• Hired a consultant to conduct a feasibility study for a full-service hotel in Austin.
• Began developing reservation and operational management software for use at the hotel.
• Began the branding image, logo, website, and social media accounts for the staffing agency.
• Applied for a liquor and mixed beverage permit with the Texas Alcoholic Beverage Commission.
• Hired an architect to begin the design phase of the hotel.

Pegasus Hotel Services

The following will be the services and amenities Pegasus Hotel will provide:

Industry Analysis

The hotel industry is expected to increase to a $133 billion in the next five years. The hospitality industry will benefit from increases in travel spending, corporate profit and general consumer spending.

As consumers earn higher incomes and businesses replenish their budgets, travel spending is projected to increase over the next five years. Inbound trips by non-US residents are anticipated to rise 22% over next the five years, while domestic travel is expected to grow 9% during the same period.

The industry will see particularly strong future growth in extended-stay hotels, boutique hotels, spa and health retreats and resorts segments. As demand for these auxiliary services picks up, industry employment is anticipated to recover and increase over the next five years. Industry players are also expected to continue expanding abroad into emerging economies, such as Asia, Eastern Europe and South America. These foreign markets are expected to somewhat detract from domestic capital investment, as they offer higher growth prospects for industry operators.

Customer Analysis

Demographic profile of target market.

The precise demographics for Austin, Texas are:

Customer Segmentation

Pegasus Hotel will primarily target the following customer profiles:

• Individuals and families who have disposable income (mid to high level)
• Frequent travelers
• Individuals who dine out and visit spas frequently
• White collar workers (corporate or government office)

Competitive Analysis

Direct and indirect competitors.

Pegasus Hotel will face competition from other companies with similar business profiles. A description of our direct competitors is below.

Hotel Ella is a historic boutique hotel located in Austin, Texas. Located in downtown Austin and walking distance to the University of Texas campus, Hotel Ella is a stylish boutique hotel housed in the historic Goodall Wooten House, one of Austin’s original landmark estates. Constructed in 1900, the Greek revival-style mansion underwent an extensive renovation in 2013, and now offers the perfect balance between modernity and a rich history rooted in the fabric of the neighborhood and the university. Hotel Ella has 47 guest rooms, a cabana-lined pool, and a wrap-around veranda overlooking the front lawn. Hotel Ella features beautifully designed outdoor and indoor spaces perfectly suited for a vacation, wedding, or corporate event. The hotel also features a diverse collection of Texas Modernist works around the hotel grounds.

All guests of Hotel Ella are treated to warm southern hospitality and superior personalized service during their stay. The historic property is appointed with a variety of elegant 21st century amenities. Hotel Ella also offers the following amenities and guest services:

• Complimentary 24-hour guest services
• Complimentary high-speed wi-fi access
• Complimentary electric car charging station
• Complimentary morning newspapers available in the historic mansion
• Complimentary coffee stations from 5am – 11am
• Twice-daily housekeeping service
• Cabana-lined outdoor pool
• Fitness center
• Same-day valet laundry services
• In-room dining by Goodall’s
• Business services: photocopying, printing, postal services, and supplies

Hotel Ella also welcomes dogs of all sizes at no additional fee.

Kimber Modern

Kimber Modern is located in the hip SoCo district of Austin and is intended to draw in the independent urban traveler seeking a unique escape. It is architecturally designed with clean lines and abundant light filtered through canopies of oaks in an artfully landscaped Courtyard. The hotel also encompasses absolute comfort and attention to detail while providing technologically sophisticated rooms in their boutique guest rooms. Guests booking at Kimber Modern will receive complimentary beverages, parking, and WiFi.

Kimber Modern offers the following hotel amenities to its guests:

• Off street covered parking
• Electric car charging station
• Keyless entry
• Complimentary WiFi throughout the hotel
• Multi-level courtyard with a 25-foot glass water feature with multiple areas to lounge
• Jura self-serve coffee system featuring a variety of coffee drinks 24/7
• Beverage bar 24/7
• Gourmet teas
• Virtual concierge – computer, printer, and copier
• Meeting space available for groups
• 3pm check-in and noon check-out

Guests are also available to book the entire hotel for their group.

The Cat Noir Hotel

The Cat Noir Hotel is an award-winning 14-room boutique hotel located in the heart of Austin’s east side. The European-styled boutique hotel includes a restaurant and bar partner, Uncle Nicky’s Italian Specialties. Uncle Nicky’s offers a relaxed all-day dining experience that is themed after cafes in northern Italy. The Cat Noir Hotel opened in 2016 and has been ranked #2 by Travel + Leisure’s World’s Best Awards and Top 20 Best Hotels in Texas by Conde Nast Traveler.

The Cat Noir Hotel’s contemporary design maintains a sense of warmth and a unique aesthetic that is felt through the lobby, outdoor spaces, and each of the unique guest rooms. In addition to the design elements, The Cat Noir Hotel boasts the following features:

• Private roof deck for guests to enjoy the stunning views of downtown, the Texas Capitol, and the University of Texas
• Outdoor patio and courtyard areas on all levels
• Artwork from local artists

Each of the guest rooms include Juliet balconies with neighborhood views, fine linens, and Simmons luxury plush mattresses.

Competitive Advantage

Pegasus Hotel will be able to offer the following advantages over their local competition:

Marketing Plan

Brand & value proposition.

Pegasus Hotel will offer the unique value proposition to its target local market:

• Professional and attentive staff dedicated to ensure complete guest satisfaction.
• Various amenities throughout the hotel for any guest to enjoy.
• Modern and contemporary design with beautiful Texas views throughout the entire hotel.
• Competitive rates.

Promotions Strategy

The promotions strategy for Pegasus Hotel is as follows:

Social Media

Pegasus Hotel will invest in advertising the hotel on social media platforms Facebook, Instagram, LinkedIn, and Twitter. By using targeted social media marketing, Pegasus Hotel will be able to reach those who frequent nice restaurants and spas and travel frequently.

Website/SEO Marketing

Pegasus Hotel will invest in a strong SEO presence so that when someone enters “Austin boutique hotel” or “first class hotel near me” in their Google or Bing search bar, Pegasus Hotel is at the top of the list. Their website will feature photos of the guest rooms, meeting areas, pool, spa, fitness center, and restaurant/bar. Future guests will be able to make a reservation to book their future stay on the website and access contact information for either a Director of Sales or General Manager of the property.

Pegasus Hotel will request all requests for news stories regarding the development of the hotel, owner/developer information, opening dates, etc. By accommodating the press’ requests for stories, it will also be free advertising for the public to learn about the new up and coming luxury hotel.

Frank and Miles will invest in a billboard in downtown Austin where the mid to upper class of residents frequent. The hotel will be minimalistic but eye-catching. It will feature an attractive rendering of the hotel along with the website. Curious passersby will be directed to visit the hotel’s website for detailed information.

Third Party Booking Websites

Once the hotel is nearing 60 days towards opening, all of the third-party websites will feature Pegasus Hotel so that travelers visiting Austin will be able to see it listed as an option for Austin hotels.

Bridal Shows and Wedding Industry Events

Pegasus Hotel will have a table at all of Austin’s bridal shows and wedding industry events. It will attract those couples searching for a venue to accommodate their special day.

The pricing of Pegasus Hotel will be moderate and on par with competitors so customers feel they receive value when purchasing its guest rooms and services.

Operations Plan

The following will be the operations plan for Pegasus Hotel.

Operation Functions:

• Frank and Miles will be the owners of the hotel and hire the appropriate staff to manage the hotel. Frank will act as CFO of the hotel and Miles will be in charge of the reservation system and hotel operations software. Miles developed the software and will focus on making sure it’s always functional and efficient.
• General Manager will be hired to oversee the entire staff and hotel operations to include guest satisfaction, oversee vendor contracts, events, and making sure that each department is running effectively and efficiently.
• Assistant General Manager to assist the General Manager with overseeing the staff, with particular attention to guest satisfaction and front desk operations.
• Director of Sales will be hired to sell events, corporate accounts, and group bookings for the hotel.
• Maintenance Engineer will be hired to attend to all mechanical and plumbing issues that may arise.
• Executive Housekeeper will be hired to lead the team of housekeepers to make sure all areas of the hotel are being cleaned to Pegasus Hotel standards and that each guest is receiving all accommodations to their requested schedule.

Milestones:

Pegasus Hotel will have the following milestones completed in the next six months.

8/1/202X – Purchase land lot and break ground on new hotel business.

8/15/202X – Finalize architectural renderings and hire a General Contractor to build the hotel.

9/1/202X – Finalize contract with advertising company for them to design the branding image of the hotel, logo, website, billboard, and social media accounts.

9/15/202X – Begin social media and website advertising campaign. Billboard with a teaser of ‘Coming Soon’ will go up in downtown Austin.

10/5/202X – Hire General Manager and Director of Sales.

10/15/202X – Attend annual Wedding Industry Event with a table to begin advertising Pegasus Hotel.

11/1/202X – Pegasus Hotel will go live on third party booking websites.

11/15/202X – Remainder of staff will be hired to begin training program.

11/30/202X – Final walk-thru of newly constructed Pegasus Hotel.

12/15/202X – Begin furnishing and interior design of the hotel.

1/1/202X – Grand Opening of Pegasus Hotel.

Lorenzo will hire Lisa Montgomery as the Director of Sales and David Jimenez as the Assistant General Manager. After an exhaustive search, Lorenzo believes has found the next two senior management positions to ensure the success of the hotel. Each comes with an impressive resume of prior hotel sales and operational experience.

Lorenzo, Lisa, and David will be the senior management team of Pegasus Hotel. They will oversee all other department managers – Maintenance, Housekeeping, Front Desk/Guest Relations, and Food and Beverage. Each department manager will oversee various employees in their respective department and role. The Pegasus Hotel will have a large and sophisticated operation as each department is integral in the success of the hotel.

Lorenzo, Lisa, and David will meet with Frank and Miles monthly to update them on progress and overall operations and sales efforts of the Pegasus Hotel.

Financial Plan

Key revenue & costs.

The revenue drivers for Pegasus Hotel are the revenues it will collect when guests book a reservation at the hotel. The hotel will also collect revenues from its restaurant and bar, spa, and events it will host.

The cost drivers will be the payroll and overhead costs to staff the hotel. Other costs will involve the land lease, utilities, marketing costs, and technology fees. There will also be costs associated with the maintenance of the hotel, food and beverage inventory, spa inventory, and hotel guest room supplies.

Funding Requirements and Use of Funds

Key assumptions.

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

• Initial Number of Room Nights Sold per Month: 8,000
• Number of Events per Month: 30
• Land Lease per Year: $1,500,000

Financial Projections

Income statement.

Balance Sheet

Cash Flow Statement

Hotel Business Plan FAQs

What is a hotel business plan.

A hotel business plan is a plan to start and/or grow your hotel business. Among other things, it outlines your business concept, identifies your target customers, presents your hotel marketing plan and details your financial projections.

You can  easily complete your hotel business plan using our Hotel Business Plan Template here .

What Are the Main Types of Hotel Companies?

There are many types of hotel companies. Most hotels are affiliated with a hotel franchise company. Other hotel companies distinguish themselves by star level-  4 to 5-star hotels are on the higher end of rate and amenity offerings, whereas 2 to 3-star hotels cater more towards the everyday business travelers and families.

What Are the Main Sources of Revenue and Expenses for a Hotel Business?

The primary source of revenue for a hotel business are the room fees it charges each guest to stay at the hotel. Revenues are also collected for different amenity offerings, such as room service,  restaurant and bar revenue, spa revenues, and guest shop revenue.

The key expenses for a hotel business are the costs for inventory, maintenance, supplies, furniture, fixtures, and equipment, technology, and payroll of the staff. Other expenses will be the rent, utilities, and overhead costs, if applicable.

How Do You Secure Funding For Your Hotel?

Hotel businesses are most likely to receive funding from banks. Typically you will find a local bank and present your business plan to them. Angel investors and other types of capital-raising such as crowdfunding  are other common funding sources. This is true for a business plan for a hotel, a resort or a boutique hotel.

What are the Steps To Start a Hotel Business?

Starting a hotel business can be an exciting endeavor. Having a detailed roadmap of the steps to start a business will help you stay focused on your business goals and get started faster.

• Develop A Hotel Business Plan - The first step in starting a business is to create a comprehensive business plan that outlines all aspects of the venture. This includes market research to identify the potential market size and target audience , the hotel’s services, pricing strategies and a detailed financial forecast.  
• Choose Your Legal Structure - It's important to select an appropriate legal entity for your hotel business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your hotel business is in compliance with local laws.
• Register Your Hotel Business - Once you have chosen a legal structure, the next step is to register your hotel business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 
• Identify Financing Options - It’s likely that you’ll need some capital to start your hotel business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 
• Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 
• Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 
• Acquire Necessary Hotel Equipment & Supplies - In order to start your hotel business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 
• Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your own hotel business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective digital marketing strategy including SEO and paid advertising . You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a new hotel business:

• How to Start a Hotel Business

Where Can I Get an Example Hotel Business Plan PDF?

You can download our example hotel business plan PDF template here . This is a business plan template you can use in PDF format.

Other Helpful Business Plan Templates

Franchise Business Plan Template Resort Business Plan Template Bed and Breakfast Business Plan Template

• Revenue Management
• Hotel Consulting
• Operations Management
• Asset Management
• Pre-Opening
• Owner Representation
• Turnaround Management
• About Xotels

Hotel Business Plan

OK, so you have decided to realize your dream and become a hotel entrepreneur, so now you need to start writing your hotel business plan . You have thought out an amazing concept delivering unparalleled guest service. The next step would be to write a hotel business plan. It’s like a road map to the opening. However, as a seasoned hotel revenue management consulting and hotel management company , we have seen that this is where most entrepreneurs get stuck.

Why? Many do not have the time and don’t know what to write or how to do the financials. But until you finish your business plan, you will not be able to get the financing either. So you end up with ideas sitting in your head not realizing your dream.

Really it is not that difficult to make a good hotel business plan. It is merely a structured summary of your idea. Most people try to include everything about their hotel concept in the plan. This leads to an indigestible super novel-like bookwork, aka a mess.

The key is, knowing what to include, and what not to include in your hotel business plan. Create a clear road map for success. Excite investors rather than bore them to death like most business plans full of redundant information do. And you need to lead readers down the exact path you want.

One of the main challenges for example is that after reading the first page most businesses often don’t fully understand what the hotel is all about. For investors and lenders, it is crucial they can quickly comprehend your plan, without reading the whole document.

Hotels 101: The Basics of Business Planning

We have put together a hotel business plan template to help you on your way. Check out our approach based on 10 critical points, being:

• Executive Summary
• Company Analysis
• Industry Analysis
• Customer Analysis
• Competitive Analysis
• Strategic Plan
• Operations Plan
• Management Team
• Financial Plan
• Key Milestones

Steps of your Hotel Business Plan

Let’s dive into the step-by-step checklist of what your hotel business plan should look like.

Infographic by Xotels

1. Executive Summary

This first part should consist of two main parts, being:

• Mission Statement (Introduction): a 1 line company description only the essence of your hotel (not 2 lines or a paragraph). It explains why you are in business or which huge need you are solving, that currently is not being met. For example in the case of Qbic Hotels “Moving modular hotels into under-utilized real-estate to reduce build-out cost and time.” 
• Objectives : What do you hope to accomplish (i.e. “Reach an annual occupancy of 90%”).

 2. Company Analysis

More detailed information on the USPs (unique selling points) of your hotel concept.

3. Industry Analysis

Information on the current industry trends and the current state of the market and how this will impact your hotel. This is needed as investors want to be sure you really understand the hotel industry. This acts as the foundation on which decisions such as trends and developments to follow will be based.  

Streamline Your Hotel Operations

We guide hotels and resorts toward unparalleled success, positioning them as market leaders.

4. Customer Analysis

In-depth information on your target market, including geographic, demographic, socioeconomic, psychographic, and behavioural segmentation details. It can also help you to keep up to date with the latest hotel marketing trends to understand which are the types of guests who will be staying at your hotel. Explain which features will be meeting the needs and wants of these main segments when thinking of:

Basically, how will consumers answer this question ‘Why my hotel?’

Aim to break it up to the point value can be easily communicated (do not make it too overcomplicated). Think of the following examples:

• Psychographics: interests, lifestyles, personality, values, opinions, and attitudes
• Behavioural segmentation: purchasing behaviour, level of engagement, customer loyalty
• Demographics: gender, age, marital status and education
• Geographics: location (country, state, region, city)
• Socio-economics

Any of the above examples of hotel segmentation can, if described well, be of great value to your business plan. An example of this could be a hotel located in a beach town, where you should be able to describe how demographics and psychographics differ from summer to winter time. Especially, since this example is typically known for lower demand in winter which you could be compensating for with the right hotel marketing strategies on hand.

5. Competitive Analysis

A study of your local competition or global concept competitors, with each of their strengths, weaknesses, occupancy rates and market share ( SWOT analysis ). And don’t forget the most important part; what differentiates you from them. What makes you stand out?

Ask yourself: “can I add value to a specific area”, especially when it comes to hotel-dense areas like city centres or major destinations.

6. Strategic Plan

This exists of 3 parts:

• Marketing : How exactly will you attract customers/guests? How will you position yourself? What will your message be to the different segments of your business mix? How will your direct marketing work? What will be the plan for your hotel website, SEO, SEM and SMM? Will you do offline promotion? In short, your hotel marketing strategy should cover everything there is to know about how to market your hotel.
• Distribution : Which 3rd party channels will you use and how will you manage availability? What technology will you need?
• Revenue management : What pricing and yield techniques will you use? What will your payment and cancellation policies be? Which room types will you be selling, and how will they be individually marketed? How many revenue scenarios will I create? Where can I compensate income/demand streams when necessary?

Make sure you have the capabilities to plan out a strong marketing, distribution and revenue management strategy. 

Things get complicated rather fast, and choosing to outsource hotel and revenue management is likely to give you a strategic advantage, during the planning phase, and the execution of your business plans.

7. Operations Plan

How will you run your hotel? Think of the following elements:

• How many staff and supervisors will you need? 
• What are their job descriptions/responsibilities? 
• What background and experience should they have? 
• When should they start? 
• What are your service standards?
• Will you develop manuals?
• Which supplier will you use?
• How will you manage inventory?

8. Management Team

Include the bios of your team. Focus on what uniquely qualifies you to make your hotel such a success. Having a great team is the key to success , and stakeholders will be impressed with a thorough explanation of the added value everyone brings to the table.

9. Financial Plan

Provide the start-up costs of the hotel (capital investment), the ongoing business costs, operational expenses and revenue projections for the next five years. These figures should be always based on your Hotel Feasibility Study . The KPIs to look at include expected occupancy, ADR (Average Daily Rate) and RevPAR (Revenue per Available Room).

If you are raising money , outline how much funding will be needed and when. Explain how you will generate a return on investment for investors, or when lenders will be paid back.

10. Key Milestones

These are the most important achievements which once they have been completed, will make your hotel more likely to succeed. Think off:

• Location selection
• Permits & Licenses
• Build-out / Construction of the Hotel
• Staffing and Training
• GOP Break-even
• NOI Break-even

Each time one of the key milestones is achieved, the risk of lenders or investors decreases . And once your last key milestone is reached, the chance of success is more or less guaranteed.

11. Appendix

Provide any other relevant information here. Don’t clutter the main sections of your hotel business plan with too many details. Rather support them with attachments in this part.

Putting Your Plan into Action

Many people have great business ideas. But that really doesn’t matter. The difference between dreamers and entrepreneurs is the action mindset. Are you ready to ship your idea to the market? 

The first step is to put your ideas on paper. I hope this free sample will help you write a persuasive hotel business plan. Because no investor or lender will be interested if you cannot present a clear plan.

Follow your dreams and go for it!

Maximize Your Hotel Revenue

Uncover the hidden revenue potential of your hotel or resort.

Need help to Develop and Manage your Hotel Concept?

Our revenue management consulting experts at XOTELS have helped hundreds of hotels to develop and optimize their businesses.

With cost-effective implementations and best practices developed over years of experience, successful business for your boutique hotel, resort, B&B, aparthotel, hostel, or any other lodging concept for that matter.

Hope this template has helped you get inspired to start your own hotel business .

Best of luck in your endeavours!

Patrick Landman

PS. Get in touch with us if you need help developing and managing your hotel concept, and help bring your hotel to the next level with our hotel consulting services.

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How to Write a Successful Hotel Business Plan + Template

Creating a business plan is essential for any business, but it can be especially helpful for hotel businesses who want to improve their strategy and/or raise funding.

A well-crafted business plan not only outlines the vision for your company, but also documents a step-by-step roadmap of how you are going to accomplish it. In order to create an effective business plan, you must first understand the components that are essential to its success.

This article provides an overview of the key elements that every hotel business owner should include in their business plan.

Download the Ultimate Hotel Business Plan Template

What is a Hotel Business Plan?

A hotel business plan is a formal written document that describes your company’s business strategy and its feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write a Hotel Business Plan?

A hotel business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Hotel Business Plan

The following are the key components of a successful hotel business plan:

Executive Summary

The executive summary of a hotel business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

• Start with a one-line description of your hotel company
• Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.

If you are just starting your hotel business, you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your hotel firm, mention this.

You will also include information about your chosen hotel business model and how, if applicable, it is different from other companies in your industry.

Industry Analysis

The industry or market analysis is an important component of a hotel business plan. Conduct thorough market research to determine industry trends and document the size of your market. 

Questions to answer include:

• What part of the hotel industry are you targeting?
• How big is the market?
• What trends are happening in the industry right now (and if applicable, how do these trends support the success of your company)?

You should also include sources for the information you provide, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, a hotel business’ customers may include:

• Business travelers
• Leisure travelers
• Groups and conventions
• Wedding parties
• Local residents

You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or hotel services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will be different from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation and/or advantage; that is, in what ways are you different from and ideally better than your competitors.

Below are sample competitive advantages your hotel business may have:

• Location : if your hotel is located in an ideal spot for leisure or business travelers, this could be a key competitive advantage
• Amenities : if your hotel offers unique amenities that are appealing to your target market segments, this could give you a leg up on the competition
• Customer service : if you focus on delivering exceptional customer service, this could be a key selling point

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps.

• Product/Service : Detail your product/service offerings here. Document their features and benefits.
• Price : Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
• Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
• Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, launch a direct mail campaign. Or you may promote your hotel business via public relations (PR), speaking engagements, or other thought-leadership activities.

Operations Plan

This part of your hotel business plan should include the following information:

• How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
• What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for a hotel business include reaching $X in sales. Other examples include adding new locations, launching a new product/service, or hiring new employees.

Management Team

List your team members here including their names and titles, as well as their expertise and experience relevant to your specific hotel industry. Include brief biography sketches for each team member.

Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix). 

This includes the following three financial statements:

Income Statement

Your income statement should include:

• Revenue: how much revenue you generate.
• Cost of Goods Sold: These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
• Net Income (or loss): Once expenses and revenue are totaled and deducted from each other, this is the net income or loss

Sample Income Statement for a Startup Hotel Business

Balance Sheet

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

• Assets : All of the things you own (including cash).
• Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
• Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Hotel Business

Cash Flow Statement

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

• Cash Flow From Operations
• Cash Flow From Investments
• Cash Flow From Financing

Below is a sample of a projected cash flow statement for a startup hotel business.

Sample Cash Flow Statement for a Startup Hotel Business

You will also want to include an appendix section which will include:

• Your complete financial projections
• A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
• Any other documentation which supports what you included in the body of your business plan.

Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your hotel company. It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.

As you can see, there is a lot that goes into creating a successful hotel business plan. But with careful planning and execution, you can set your hotel business up for success.  

Finish Your Hotel Business Plan in 1 Day!

• Sample Business Plans

Hotel Business Plan

Have you ever thought of owning a hotel? Great call!

Starting your own hotel business can be an exciting and rewarding venture, as the hospitality industry is booming nowadays, fueled by leisure trips and work vacations.

Whethe­r you’re planning to start a cozy bed & breakfast amenity or a luxury resort, the first thing you’ll need is a solid business plan to make it thrive.

Need help writing your plan in order?

Worry not; we’ve got you covered. This hotel business plan template will help you get started and guide you on what to write in the sections of your plan.

Sounds good? Let’s dive right in!

What Is a Hotel Business Plan?

A hotel business plan is a professional document that outlines your business idea, goals, and strategies to achieve them. Whether you’re a startup or expect to grow an existing one, you’ll need a solid business plan .

It provides a clear understanding of your hotel business, starting from its goals, target market, and service offerings to marketing strategies, financial projections, and long-term growth plans. So, it serves as a strategic blueprint for your entrepreneurial journey.

Now that you know what a hotel business plan is, let’s understand why you need one and how it can help you.

Why You Need a Business Plan for Your Hotel?

As a hotelier, having a good business plan is essential for opening and running your hotel business.

It helps you get your hotel business off the ground and make it successful, navigating all the intricacies of hotel management effectively.

Consider these several reasons why you need a business plan for your hotel:

Define your goals

While writing a business plan, you’ll need to clearly define your specific goals & objectives and the strategies you’ll use to achieve them. So, it’s like keeping a detailed map for your business.

Manage finances better

A well-prepared business plan helps you show how much money you’ll require to start and run your hotel, and how much revenue or profit you’ll earn from it. It also includes detailed budgets, expense estimates, and ongoing operational costs.

Get funding from investors or banks

A comprehensive plan is important if you need money to start and grow your business. It helps you demonstrate to the potential investors or banks that you have a solid plan for success and the potential for return on investment.

Know your competitors & customers

With thorough market research and competitive analysis, your business plan helps you identify and understand your competitors and customers. Also, you can assess the customer needs and distinguish your hotel from the competition.

Identify potential risks

An actionable plan will allow you to anticipate the potential risks and the strategies to mitigate them. This way, you can avoid critical pitfalls before they happen and save meaningful resources.

In simple terms, a business plan is not just a written document, but it’s a valuable tool for planning, managing, and growing your hotel venture.

Now without further ado; let’s explore the key components of a hotel business plan.

Key Components of a Hotel Business Plan

While writing a comprehensive business plan, you should include the following 10 key components in your hotel business plan:

1. Executive Summary

An executive summary is the first and foremost section of a hotel business plan, providing a high-level overview of your entire business strategy.

Generally, it would be written at the end once all the other sections are finalized. This is so because it highlights the most important points you mentioned in the rest of your plan.

In your executive summary, consider including the following details:

• Your business idea & goals
• Vision-mission statements
• Market opportunities
• Target audience
• Marketing efforts and USPs
• Financial outlook

In short, this section is your chance to present a persuasive and compelling snapshot of your business that impresses potential investors or readers. And ensure you keep it short and simple (2 or 3 pages).

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2. Company Overview

The company overview section provides a detailed description of your business, from its basic information (name, size, and location) to objectives.

So, it clearly explains your hotel business concept in detail and outlines the future goals that every potential investor or lender needs to know.

For instance, you may ask yourself these questions to plan this section:

• What is the size and legal structure of your hotel? (e.g., LLC, corporation, sole proprietorship, partnership)
• Who are the hotel owners or shareholders?
• What is your business’s background and founding story?
• What milestones have you achieved till now?
• What are the short-term goals and long-term objectives?

Overall, your company overview section is an in-depth understanding of your business, so make it engaging and to the point.

3. Market Analysis

The market analysis section of a business plan provides a thorough explanation of the hospitality industry based on the scale of your hotel.

So, you’ll need to conduct comprehensive market research and industry analysis to identify the market size & growth potential, target market, customer behavior, market demand, and regulatory environment.

In addition to that, you may include data on market trends that might impact your business, such as technology, politics, environmental concerns, or global health issues.

This way, you can position your business strategically and justify your hotel’s future growth in the current market.

4. Competitive Analysis

Competitive analysis is a meticulous study of your key competitors depending on where your hotel is located.

Here, you should consider including details of your direct and indirect competitors in the local market, along with their strengths & weaknesses.

This section is an important aspect of market research that helps you evaluate the competitive environment and determine what sets you apart from others. You can even explain your competitive advantages and identify your USPs.

5. Service Offerings

In this section, you should mention details of the primary services and amenities you plan to offer.

You may include different types of rooms and amenities available, any special services such as event hosting, spas, restaurants, and any unique products offered.

This will help investors understand what exactly your business offers, how much it charges, and what value it brings to the market.

6. Sales and Marketing Strategies

The sales and marketing plan outlines promotional strategies and tactics you’ll use to reach your target audiences and maximize revenue.

It involves careful consideration of several key aspects, like who you’re trying to reach, what message you want to tell them, and how you plan to attract and retain them.

A well-crafted sales and marketing plan is essential for brand awareness, revenue growth, profitability, and long-term success, as it ensures your hotel stands out and thrives in the hospitality industry.

As a hotel business owner, your strategies may include online and offline marketing or external promotional campaigns that must align with your hotel’s goals and objectives. For example:

• Unique Selling Propositions(USPs)
• Social media marketing
• Strong web presence
• Word-of-mouth promotions
• Networking with other businesses

Well, this section assists potential investors to better understand how you’ll promote your business and generate bookings.

7. Management Team

The management team section is an integral part of a hotel business plan as it introduces the hotel owners, key executives, and managers.

So, you may consider highlighting their roles and responsibilities, qualifications, industry experience, and expertise that help grow your hotel business. For easy understanding, refer to the below hotel owner profile:

Apart from that, clearly explain your compensation plan and organizational structure that will help you make better strategic decisions. You can even give brief bios of your external advisors, consultants, or board members(if any).

8. Operations Plan

The operations plan describes the day-to-day business operations and activities that keep your hotel running smoothly.

For instance, you may consider including insights into the operational structure of your hotel and details about facilities management, staffing & training, customer service policies, and administrative processes.

Additionally, you can mention any technology or systems that will be used to support hotel operations.

9. Financial Plan

Preparing a strong financial plan with realistic financial projections is very crucial in business planning. Typically, it covers the financial projections for the first few years.

Your hotel financial plan offers a detailed roadmap for the hotel’s financial future, summarizing sales & revenue projections, cash flow estimates, balance sheets, and profit & loss statements.

Besides these financial statements, you may consider adding your financial requirements, startup costs, and risk analysis & mitigation plan.

Simply put, a well-written financial plan provides a clear understanding of the ROI potential and ensures the hotel’s success and long-term sustainability.

10. Appendix

In the appendix, you can attach any supporting documents that don’t fit into specific sections but support your plan. It includes

• Market research data and surveys
• Licenses & permits
• Leases or contracts
• Resumes of key executives
• Architectural blueprint of the facility

You may also include any additional documents or attachments that your readers might use for reference.

Download Free Hotel Business Plan Template

Need extra help or any sample business plan to start writing your hotel business plan? Well, here you go; download our free hotel business plan pdf now and get started.

This advanced business plan template has been specifically designed for your hotel business. With step-by-step instructions and examples, it assists you in developing your own plan.

Simply import data into your editor and use it as a reference!

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

Start Preparing Your Business Plan with AI

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It’s a modern, AI business plan generator that helps small business owners and new entrepreneurs create professional business plans in minutes.

From easy-to-follow guides and 400+ sample business plans to financial forecasting features, Upmetrics offers everything to streamline the entire business planning process.

So, wait no longer; start preparing your plan!

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Guide to Making a Business Plan Presentation

Frequently asked questions, do i need to include financial projections in my hotel business plan.

Of course, you have to include projections in your hotel business plan. These projections help you present a complete overview of your financial strategy and the financial viability of your hotel. Also, you can show your business’s profitability to attract potential investors or financial institutions and secure funding or loans.

What marketing strategies are effective for a new hotel?

For a new hotel, these marketing strategies are the most effective ones:

• Developing and optimizing a professional website for your hotel
• Leveraging social media channels and email marketing
• Utilizing Online Travel Agencies (OTAs) for bookings
• Advertising through events or travel trade shows
• Offering loyalty or referral programs

Where can I find resources and templates for writing a hotel business plan?

Using business planning software like Upmetrics can be a good choice. It provides hundreds of business resources and a sample hotel business plan template to write your hotel business plan. Simply export the template in the editor and finish your plan in a few hours.

What tips can help secure funding for a hotel business?

If you want to secure funding for your hotel, consider following these tips:

• Writing a comprehensive business plan
• Showcasing the potential profitability of your hotel
• Reaching out to family and friends for investments
• Creating a polished & compelling pitch
• Visiting hotel industry conferences and events

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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Hotel Business Plan

Turn your dreams into reality with a comprehensive hotel business plan. 

Why do I need a hotel business plan?

Studies show that entrepreneurs who finished their business plan were twice as likely to succeed in growing their business than those with no plan. A hotel business plan provides a detailed roadmap of what needs to be accomplished and why and gives potential investors insight into your business idea.  

Included in this business plan are templates for: 

• Company analysis
• Industry analysis 
• Competitive analysis 
• Operations plan 
• Financial plan

From idea to execution: 10 sections to include in your hotel business plan

What is hotel revenue management the beginner’s guide.

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Hotel Business Plan Guide + Sample Plan

July 6, 2023

Adam Hoeksema

The hospitality industry offers immense potential, while some might believe that operating a hotel is straightforward, involving only accommodations and foot traffic, careful planning and meticulous execution are essential for achieving success, hence a well-structured business plan is indispensable.

Our primary expertise lies in hotel financial projection models but we understand that some of our clients require comprehensive business plans. That's why we've taken the initiative to delve into this topic and cover the following:

• Why Write a Business Plan For a Hotel?
• What to Include in a Hotel Business Plan?

Hotel Business Plan Outline

How to select a location for a hotel, how to analyze the competition for a hotel, how to create financial projections for a hotel, example hotel business plan, hotel business plan faqs, why write a business plan for a hotel.

For Hoteliers seeking financial support from investors, banks, or financial institutions, a well-structured business plan is a fundamental prerequisite. Demonstrating a thorough evaluation of the market, a clear and strategic approach, and a thoughtful assessment of potential risks and rewards is paramount to attracting the necessary funding for your venture.'

What to include in a hotel business plan?

A hotel business plan should provide investors and lenders with compelling reasons why guests will choose your hotel, demonstrate why you or your team are the ideal operators for the hotel, and present a financial projection that ensures their investment is secure. Below is a comprehensive outline of our complimentary hotel business plan template .

We suggest the following sections for your Hotel business plan

Executive Summary

Company Description

Market Analysis

Product and Service Offerings

Marketing Plan & Customer Acquisition

Operating Plan

Financial Plan

Choosing the right location for your hotel is a critical step in ensuring its success and captivating your target audience. To help you make the best decision, we present three essential points to consider when selecting a location for your hotel  Local Demand and Visitor Profile: Assess the local demand for hotel accommodations in the area. Analyze the type of visitors who frequently visit the locality, such as tourists, business travelers, or event attendees. Understanding the local visitor profile will help you tailor your hotel's offerings to meet their needs and preferences.

Proximity to Key Points of Interest: Look for a location that is in close proximity to key points of interest within the local area. This could include popular tourist attractions, convention centers, business districts, or entertainment venues. Being near such attractions increases the chances of attracting more guests and ensures a steady flow of potential customers.

Accessibility and Transportation Links : Ensure that the location is easily accessible by various modes of transportation. Consider the distance from major transportation hubs like airports, train stations, and bus terminals. Also, evaluate the availability of public transportation options nearby, as this will make it convenient for guests to travel to and from your hotel.

By focusing on these three points, you can identify a suitable local location for your hotel that caters to the specific needs of the local market and maximizes its potential for success.

There are a couple of tools that I like to use when analyzing the competition in the hotel industry. 

Ahrefs – Ahrefs will allow you to look up a competitor hotel's website, and you can see how much organic traffic they are getting and exactly what keywords are sending that traffic. For example, we can see that the Bottleworks Hotel in Indianapolis is receiving roughly 3,500 monthly visits from organic Google Search.  

We can also see what keywords are sending the most traffic to that page below:

By understanding the SEO strategies and keywords that competitor hotels are targeting, you can develop your content and marketing strategies to compete in the same spaces or identify underserved areas to capitalize on. This can assist in improving your hotel's online presence and attracting more guests through search engines.

TripAdvisor – Although mainly known as a review site, TripAdvisor can be a free and powerful tool for analyzing competition within the hotel industry. You can see guest ratings, read reviews, and understand what customers appreciate or dislike about different hotels in your area. This qualitative information can help you identify where your competitors are succeeding or failing and where you might have an opportunity to differentiate your services.

Just like in any industry, the hotel business has its own unique factors that impact financial projections, such as occupancy rates, room pricing, seasonal demand, and guest service expenditures. Utilizing a hotel financial projection template can simplify the process and increase your confidence. Creating accurate financial projections goes beyond showcasing your hotel venture's ability to generate revenue; it's about illustrating the financial roadmap to profitability and the realization of your hospitality goals.

To develop precise projections, consider the following key steps:

Estimate startup costs for your hotel business, including property acquisition or leasing, renovation or construction, furnishing and decoration, staff training, and initial marketing and branding expenses.

Forecast revenue based on projected occupancy rates, average room prices, ancillary service income (such as restaurants, spas, conference facilities), and potential growth in the customer base.

Project costs related to ongoing operations like housekeeping, food and beverage services, guest amenities, and maintenance.

Estimate operating expenses such as staff salaries, utility costs, property insurance, marketing expenses, guest support, and administrative costs.

Calculate the capital needed to launch and sustain your hotel business, covering initial expenses and providing working capital for continued growth, including funds for unforeseen challenges such as seasonal fluctuations.

While financial projections are a critical component of your hotel business plan, seek guidance from experienced professionals in the hotel industry. Adapt your projections based on real-world insights, leverage industry resources, and stay informed about hospitality trends and evolving consumer behavior to ensure your financial plan aligns with your goals and positions your hotel venture for long-term success.

Explore our Hotel Business Plan, presented below. If you prefer, you can access a downloadable Google Doc version of this hotel business plan template , allowing you to personalize and tailor it to your specific needs. Additionally, a helpful video walkthrough is available, guiding you through the process of customizing the business plan to perfectly align with your unique hotel concept.

Table of Contents

1. executive summary.

1.1 Organization Overview

1.2. Objectives

1.3. Mission Statement

2. Organization Description

2.1. Organization History

2.2. Legal Structure

2.3. Unique Value Proposition

2.4. Target Beneficiaries

3. Market Analysis

3.1. industry overview.

3.2. Collaborator and Competitor Identification

3.3. Target Beneficiaries

Key Point  1

4. Marketing and Fundraising

4.1. Strategic Plan

4.2. Program or Service Offerings:

4.4. Distribution Channels

4.5. Promotions and Fundraising

Key Point  2

5. Organizational Structure and Management

5.1. Organization’s Facility & Location

5.2. Staffing Plan and Volunteer Management

5.3. Governance, Financial Management, and Accountability

Key Point  3

6. financial plan.

6.1. Startup Costs

6.3. Expense Projections

6.4. profit and loss statement, 6.5. cash flow projections, 6.6. break-even analysis, 7. appendix.

7.1. Supporting Documents

7.2. Glossary of Term

7.3. References and Resources

Key Point  5

 1.1. company overview.

Briefly introduce the hotel's background, products or services, and target market.

      -  Example: Seaside Crest is a tropical-themed hotel located in Key West, Florida, offering a unique and luxurious experience for guests seeking a beachfront getaway.

   1.2. Objectives

Outlines the hotel's short-term and long-term goals.

        - Example:  Establish Seaside Crest as the premier destination for tropical hospitality in Key West, providing exceptional service and unforgettable experiences for our guests.

        - Example: Long-term: Expand our presence in other tropical destinations while maintaining our commitment to quality and guest satisfaction.

  1.3. Mission Statement

 Describes the hotel's purpose and core values.

        - Example:  At Seaside Crest, our mission is to create a haven of relaxation and tropical paradise for our guests. We are dedicated to delivering exceptional hospitality, breathtaking surroundings, and personalized service, ensuring that every guest's stay is a memorable one.

  1.4. Keys to Success

Highlights the factors that will contribute to the hotel's growth and success.

        - Example:  The success of Seaside Crest lies in our commitment to creating a tropical ambiance, offering top-notch amenities, providing outstanding customer service, and delivering a seamless guest experience. 

2. Company Description

   2.1. company history.

Provides context on the hotel's background and founding story.

        - Example: Seaside Crest is the brainchild of founder and hotelier, Emily Roberts, who envisioned creating a tropical paradise in Key West, Florida. With a passion for hospitality and a deep love for the coastal beauty of the region, Emily embarked on the journey of bringing Seaside Crest to life.

   2.2. Legal Structure

 Describes the hotel's legal structure (e.g., sole proprietorship, partnership, LLC, corporation).

        - Example: Seaside Crest operates as a limited liability corporation (LLC)

 2.3. Unique Selling Proposition

  Emphasizes the hotel's competitive advantage or unique offerings.

        - Example: Seaside Crest distinguishes itself by offering a one-of-a-kind tropical-themed experience, combining luxurious accommodations, breathtaking beachfront views, vibrant island-inspired decor, and personalized service. 

  2.4. Target Market

Defines the hotel's ideal customer base.

        - Example: Seaside Crest caters to discerning travelers and vacationers who seek an extraordinary beachside retreat in Key West, Florida. 

  Presents a general overview of the industry, its trends, and growth potential.

        - Example: The tropical hotel industry in Key West, Florida, is a thriving sector driven by the city's popularity as a tourist destination, the allure of its tropical climate, and the abundance of natural beauty that surrounds it.

3.2. Competitor Analysis

 Evaluates the hotel's direct and indirect competitors, as well as their strengths and weaknesses.

        - Example: Other hotels and resorts in Key West offering tropical-themed accommodations.

        - Example: Vacation rentals, bed and breakfast establishments, and boutique hotels in the area.

3.3. Target Market Analysis

Explores the hotel's target customers, their demographics, preferences, and pain points.

        - Example: Seaside Crest targets vacationers and travelers seeking a tropical getaway in Key West. Our primary market includes couples, honeymooners, and families looking for luxurious accommodations with a distinct tropical ambiance and proximity to the beach.

3.4. Market Opportunities

Identifies potential opportunities for the hotel to grow within the market.

        - Example: Seaside Crest can capitalize on market opportunities by offering unique amenities and experiences such as beachfront dining, spa services inspired by tropical traditions, and curated excursions to explore the natural wonders of Key West. Collaborations with local businesses for island-inspired dining and entertainment can further enhance the guest experience.

• Example 1: Conduct a survey among tourists in the area to determine their preferences for tropical-themed accommodations and their interest in a hotel with a beachfront location. (e.g., 80% of surveyed tourists express a strong preference for hotels with a tropical theme and direct beach access)
• Example 2: Analyze the occupancy rates and average daily rates of existing hotels in Key West to assess the demand and pricing trends in the market. (e.g., The average occupancy rate in Key West hotels during peak season is 85%, indicating a high demand for accommodations)

4. Marketing and Sales Strategy

4.1. product or service offerings: .

Describes the hotel's products or services in detail.

        - Example: Seaside Crest offers a range of tropical-themed accommodations and amenities, including luxury guest rooms, beachfront dining, spa services, and curated excursions.

4.2. Pricing Strategy

 Outlines the hotel's approach to pricing its products or services.

        - Example: Seaside Crest adopts a competitive pricing strategy, providing value for money while maintaining the exclusivity and high-quality experience associated with a tropical-themed hotel.

4.3. Sales Strategy

  Explains how the hotel plans to generate sales and build customer relationships.

        - Seaside Crest will implement a comprehensive sales strategy that includes online booking platforms, direct marketing to travel agencies, and partnerships with local tour operators to attract and engage potential guests.

 Describes the methods through which the hotel will deliver its products or services to customers.

   - Example: Seaside Crest will primarily distribute its services through online travel agencies, direct bookings through its website, and collaborations with travel agencies specializing in tropical getaways.

4.5. Promotions and Advertising

 Details the hotel's promotional efforts and advertising strategies.

        - Example: Seaside Crest will employ targeted marketing initiatives, utilizing social media and search engine platforms, to enhance brand visibility and attract new guests seeking a tropical-themed hotel experience in Key West..

• Example 1: Collaborate with local travel agencies to offer exclusive vacation packages that include a stay at Seaside Crest, showcasing the unique tropical experience and attracting potential guests. (e.g., 50 vacation packages sold within the first month of collaboration)
• Example 2: Organize a pre-launch event at a popular local venue, inviting travel influencers and bloggers to experience a preview of the hotel's amenities and share their impressions on social media. (e.g., 10 influencers with a combined reach of 500,000 followers attend the event and generate significant online buzz)
• Example 3: Offer a giveaway on social media to build a following

5. Facility Maintenance and Operations Plan:

   5.1. facility location and layout.

 Specify the hotel's physical business location and refer to the internal arrangement and organization of the space.

        - Example:Seaside Crest will secure a prime location in Key West, strategically positioned in close proximity to the beach and popular tourist attractions. The hotel's layout will be designed for optimal guest comfort and convenience, with thoughtfully arranged spaces and amenities.

5.2. Safety and Security:

Cover the hotel's comprehensive approach to safety and security, including surveillance systems, access control measures, etc.

        - Example: Seaside Crest will prioritize the safety and security of our guests and staff. We will implement robust security measures, including surveillance systems, access control, and trained personnel to monitor and respond to any potential threats or emergencies.

5.3. Cleaning and Housekeeping:

  Involves the hotel's procedures to ensure high standards of cleanliness, hygiene, etc.

        - Example: Our dedicated housekeeping staff will maintain the highest standards of cleanliness throughout the hotel, including guest rooms, common areas, and amenities. We will follow strict protocols to ensure a hygienic and pleasant environment for our guests.

• Example: The founding team of Seaside Crest includes Sarah Johnson, a seasoned hotelier with over 10 years of experience in managing luxury beachfront resorts, ensuring a deep understanding of the hotel industry's dynamics and customer expectations.
• Bennet  Leifer a renowned interior designer specializing in tropical-themed hospitality spaces, brings his expertise to Seaside Crest, ensuring the hotel's aesthetics align with the target market's preferences and create a memorable guest experience.

5.4. Energy Efficiency:

Involves energy-efficient practices and technologies to minimize energy consumption, reduce utility costs, and promote sustainability 

        - Example: As a responsible and sustainable hotel, Seaside Crest will strive to minimize energy consumption and reduce our environmental impact. We will implement energy-efficient practices, such as using energy-saving appliances, LED lighting, and smart systems for temperature control.

5.4.  Inventory Management:

includes tracking and controlling supplies, equipment, and amenities to optimize operations.

        - Example: Seaside Crest will employ an efficient inventory management system to track and manage hotel resources, including linens, toiletries, and other supplies. This system will ensure optimal inventory levels, minimize waste, and support smooth day-to-day operations.

All of the unique Hotel projections you see here were generated using ProjectionHub’s Hotel Financial Projection Template. Use PH20BP to enjoy a 20% discount on the template. 

   6.1. Startup Costs

  Provide a detailed breakdown of the total startup costs requirements, and where you plan for those funds to come from. You will also want to break down how the startup costs will be used including working capital to cover losses before the business breaks even.

        - Example: The total startup costs for Seaside Crest are estimated at $7,335,552. The owner plans to secure a business loan of $15,000, with  $7,500,000 contributed through personal funds.

6.2. Revenue Projections

Provide an estimate of the hotel's future revenue based on market research and assumptions.

        - Example:  Seaside Crest projects increasing revenue over the next five years, with $3,282,587 in the first year and reaching $5,938,052 by the fifth year.

Watch how to create financial projections for your Hotel

 Estimates the hotel's future expenses, including fixed and variable costs.

        - Example:  Seaside Crest's expenses include cost of goods sold, operating expenses, and direct labor and supply costs for the hotel, restaurant, spa, and events.

Summarizes the hotel's revenue, expenses, and net income over a specific period.

        - Example: Seaside Crest expects to achieve net income of $375,657 in the first year, growing to $1,845,652 by the fifth year, demonstrating a consistent increase in profitability.

 Outlines the hotel's projected cash inflows and outflows.

        - Example: Cash flow projections for Seaside Crest consider the seasonality of the hotel industry, ensuring effective financial management throughout the year.

  Determines the point at which the hotel's revenue equals its expenses.

        - Example: Seaside Crest anticipates reaching its break-even point within the first year of operation, indicating a strong potential for early profitability in the hotel industry.

Key Point  4

• Example 1: Benchmark financial projections against industry averages, such as the average revenue per available room (RevPAR) and average daily rate (ADR) for hotels in Key West, to ensure realistic revenue forecasts. (e.g., Seaside Crest's projected ADR is $250, in line with the average ADR of comparable beachfront hotels)
• Example 2: Analyze historical data from similar hotels in the area to estimate seasonality and demand fluctuations, accounting for factors like peak tourism seasons and local events. (e.g., Seaside Crest projects a 90% occupancy rate during the winter season based on the historical occupancy rates of nearby beachfront hotels)

   7.1. Supporting Documents

 Includes any relevant documentation that supports the information presented in the business plan, such as resumes, financial projections, market research data, and permits or licenses.

   7.2. Glossary of Term

 Provides definitions for industry-specific terms used throughout the business plan to ensure reader comprehension.

   7.3. References and Resources

Lists any sources or resources referenced during the preparation of the business plan, including industry reports, market research data, and relevant publications.

• Example 1: the owners of Seaside Crest invest a significant portion of their personal savings into the hotel's development and operations, demonstrating their commitment and confidence in the success of the venture. Additionally, they secure a personal guarantee for the hotel's financing, further aligning their interests with lenders and showcasing their willingness to share the risk.

How do I start a hotel business from scratch?

Starting a hotel business from scratch involves several key steps. Begin by conducting market research to identify a suitable location and target market. Develop a detailed business plan that outlines your hotel's concept, services, and financial projections. Secure funding through personal savings, loans, or investors. Obtain necessary permits and licenses and hire staff with hospitality experience.

What type of hotel should I open, and how do I choose a niche?

The type of hotel you open depends on your target market and location. Consider factors such as the level of service, amenities, and price range. Choose a niche that aligns with your interests and the demand in the local market. Options include boutique hotels, budget accommodations, luxury resorts, or themed hotels.

What marketing strategies can I use to promote my hotel?

Use a mix of digital marketing, social media, content marketing, and search engine optimization (SEO) to reach potential guests online. Collaborate with local tourism boards, travel agencies, and event planners to promote your hotel. Encourage positive reviews and testimonials to build credibility.

About the Author

Adam is the Co-founder of ProjectionHub which helps entrepreneurs create financial projections for potential investors, lenders and internal business planning. Since 2012, over 50,000 entrepreneurs from around the world have used ProjectionHub to help create financial projections.

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Hotel Business Plan Template [Updated 2024]

Hotel Business Plan

If you want to start a new hotel business or expand your existing hotel, you need an effective business plan.

The following hotel business plan template gives you the key elements to include in a solid business plan. In addition to this template, a solid plan will also include market research to help you better understand the hospitality industry trends, and how you plan to attract customers. It will also help you craft your mission statement, marketing plan and strong financial projections.

You can download our Hotel Business Plan Template (including a full, customizable financial model) to your computer here.

Sample Business Plan For a Boutique Hotel

Below are links to each of the key sections of a comprehensive business plan for a hotel:

• Executive Summary – The executive summary provides an overview of your business opportunity and summarizes the business plan.
• Company Overview – The company analysis includes information about your hotel concept, the hotel’s services and business structure.
• Industry Analysis – The industry analysis includes market research that supports your business and provides insights into market trends and the hotel industry.
• Customer Analysis – The customer analysis provides an overview of your target market.
• Competitive Analysis – The competitive analysis should identify your local competition (other hotel businesses, Airbnbs, etc.) and highlight your unique selling point.
• Marketing Plan – The marketing plan includes your hotel marketing strategy, pricing strategy and search engine optimization plan.
• Operations Plan – The operations plan includes information on your hotel operations and processes along with your business goals for long-term growth.
• Management Team – The management team section includes a profile of the hotel owner and hotel management team, their experience and job descriptions.
• Financial Plan – The financial plan includes financial projections, a cash flow statement, profit and loss statement and balance sheet.

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Hotel Business Plan Outline

Boutique Hotel Business Plan Blueprint: Complete Guide

• January 3, 2023
• Hospitality

Whether you’re looking to raise funding from private investors or to get a loan from a bank (like a SBA loan) for your boutique hotel, you will need to prepare a solid business plan.

In this article we go through, step-by-step, all the different sections you need in the business plan of your boutique hotel . Use this template to create a complete, clear and solid business plan that get you funded.

1. Boutique Hotel Executive Summary

Though the executive summary is the first and the most important section, it should normally be the last section you write because it will have the summary of different sections included in the entire plan.

Why do you need a business plan for a boutique hotel?

The purpose of a business plan is to secure funding through one of the following channels:

• Obtain bank financing or secure a loan from other lenders (such as a SBA loan )
• Obtain private investments from investment funds, angel investors, etc.
• Obtain a public or a private grant

How to write your boutique hotel’s executive summary?

Provide a precise and high-level summary of every section that you have included in your business plan. The information and the data you include in this segment should grab the attention of potential investors and lenders immediately.

Also make sure that the executive summary doesn’t exceed 2 pages in total: it’s supposed to be a summary for investors and lenders who don’t have time to scroll through 40-50 pages, so keep it short and brief.

The executive summary usually consists of 5 major sub-sections:

• Business overview : explain what is the concept of your hotel, whom it targets (business travelers vs. tourists), where it’s located, its size and any other amenities and services you offer
• Market & competitive overview : start by describing the state of the hotel industry in your area (the city or region where you plan to open yours). Also explain here the level of competition you expect from similar establishments. Finally, mention who are your target customers (your ideal customers) ie. their age, gender, disposable income as well as their preferences
• Sales & marketing strategy : describe how you plan to acquire new customers, outlining the exact marketing channels you intend to use and your overall budget
• Management & People : this section should provide information about the leadership hierarchy, highlighting the roles and responsibilities of every team member and their experience
• Financial plan : how much profit and revenue do you expect in the next 5 years? When will you reach the break-even point and start making profits? You can include here a chart depicting your key financials such as revenue, gross profits, and net profit
• Funding ask : what loan/investment/grant are you seeking? How much are you raising ? How long will this last?

Hotel Financial Model

Download an expert-built 5-year Excel financial model for your business plan

2. Boutique Hotel Business Overview

This is the section where you will provide details about your boutique hotel and its concept. You must address some important questions that lenders and/or investors generally ask.

Here is a quick list of some of those questions you must address:

• What is the rationale behind you opening this type of hotel today?
• What’s the location of the hotel and why did you select that location?
• What hospitality services and products will you provide? Will you offer any special services (massage, gym, etc.)? 
• Will there be a restaurant?
• How many employees will you need to run the hotel?
•  How many rooms will you have to accommodate your guests?
• What types of rooms will you offer your customers? At what rates?
• What will be the legal structure of your company?

a) History of the Project

Any business must have two components:

• Passion & experience of the business owner
• Rationale behind starting this type of business today

Passion & experience

Starting a huge investment like a boutique hotel requires much more than just capital. It also needs the relevant background experience in the hospitality industry.

Typically, many individuals creating their own boutique hotel will have a long-standing passion and track record for the hospitality industry. Yet, if you lack the experience, it probably isn’t the right time to start your boutique hotel. Instead, you can choose a franchising option and work with an established hotel franchise.

What motivates you to start a boutique hotel in the region today? Unlike some other businesses, a boutique hotel requires a lot of financial and human capital investment.

So, before taking your first steps in this field, provide enough reasons to justify your decision to venture into the business. For instance, if there’s a scarcity of stylish boutique hotels targeting tourists in the region, you can use that to justify your reasons for starting one.

b) Hotel Concept

Describe your boutique hotel’s concept. Here are a few questions you may answer here:

• Will you target a specific market (all-inclusive vs. tourists, business travelers, etc.)? 
• What types of rooms will you have (midscale, upscale, luxury?)
• What amenities will you offer your guests? A restaurant, rooftop bar, a SPA, a conference/meeting room? See more on amenities in the next section
• What will be the hotel’s design, layout and surface?
• Where will the boutique hotel be located? Is this next to a busy street, an airport, a tourist attraction or a corporate center?

c) Services & Facilities 

Prioritize the most sought-after services in the region. While many boutique hotels offer the same services, you may want to differentiate yourself vs. competitors to attract guests.

Below are a few examples of the guest services you can provide depending on your target audience :

Boutique Hotel Services 

• Bar / Restaurant
• Event management (weddings, conferences, etc.)

Boutique Hotel Facilities 

• Swimming pool / Jacuzzi 
• Business center
• Summer terrace
• Smoking rooms
• Fitness room
• Conference room

d) Room Rates

Next, describe your pricing strategy . Indeed, designing a pricing list for a boutique hotel isn’t the easiest thing to do. So, you can rely on information from some of your biggest competitors in the region to help you set standard rates. 

Make sure to have a clear table with the different room categories and their daily rate. If you have off-peak vs. peak rates, make sure to include it too here. It doesn’t need to be exact (as the rates will likely change over time), so use price ranges instead.

e) Legal Structure

Finally, your business overview section should specify what type of business structure you want:

• Is this a corporation or a partnership (LLC)?
• Who are the investors? How much equity percentage do they own?
• Is there a Board of Directors? If so, whom? Do they have experience in the industry?

3. Boutique Hotel Market Overview

Provide comprehensive information about your market. You will want to tailor your services to suit the target audience. And that means you will need accurate information about the hospitality industry in your region:

• Industry size & growth : how big is the boutique hotel industry in your area? Is it growing / declining, and what are the factors contributing to its growth/decline?
• Competition overview : how many competitors are there? How do they compare vs. your hotel? Are they franchises or independent boutique hotels? Do they target the same guests as you do? How can you differentiate yourself from them? 
• Customer analysis : who is your target market ? Are they business travelers or tourists, single travelers, couples or families? How often do they travel and need an hotel? How much do they spend on average on hotel stays?

a) Boutique Hotel Industry Size & Growth

How big is the boutique hotel industry in the us.

The market size of boutique hotels in the US is estimated to be $16.9 billion in 2022.

Also, there are about 5,500 boutique hotel businesses in the country, meaning the annual turnover for each boutique hotel is around $3,000,000.

Another source estimated there were 4,600 boutique hotels in the US in 2021 and defines them as a high-end, independent hotel with less than 100 rooms and a unique design. The same source reported that boutique hotels accounted for 3.2% of total hotel rooms in the US in 2017, yet but 5.6% of the US hotel room revenue.

How big is the boutique hotel industry in your area?

After getting a clear picture of the boutique hotel industry in the US as a whole, narrow down to your location. Yet, you may not find this information anywhere (at least not for free). In that case, you can use our guide to estimate the TAM, SAM, and SOM for your business. Here is an example of how to do it:

We know the average annual turnover per boutique hotel is $3 million. Therefore, if the area where you want to open your hotel has 30 competitors (say, in a 30-mile radius), you can assume the boutique hotel industry in your area is worth $90 million .

How fast is the boutique hotel industry growing in your city?

The US boutique industry has suffered an unprecedented decline due to the pandemic. Indeed, it decreased from its peak at $20.6 billion in 2019 to $16.9 billion 2022, despite some recovery from its through.

But what about where you live? US national averages can be a great addition to your business plan, yet they don’t necessarily help to assess the boutique hotel industry where you want to open your own boutique hotel.

Instead, you can use the number of hotels as a proxy for market growth. For instance, if there were 28 boutique hotels in the region in 2020 and 30 in 2022, you can safely assume that the average annual growth rate is ~3% in your area.

The estimation above isn’t perfect as it disregard the occupancy rate. For example, if the 28 hotels had an occupancy rate of 20% in 2020, up to 50% in 2022, the market growth rate would actually be much higher i.e. 60% CAGR from 2020-22.

b) Competition Overview 

This sub-section focuses on crucial information about your main competitors. Take a closer look at the hospitality services and products offered by other boutique hotels in the region. And while at it, analyze their marketing strategies, pricing structure, and anything you can do to stand out from the competition.

Don’t forget to include a comparative table, highlighting every piece of information the lenders may need when analyzing your business. 

Here is a sample table that you can use:

c) Customer Analysis

Customer analysis is all about knowing your ideal guests: who exactly are you targeting?

You can narrow it down with the following questions:

• Demographics (age, gender, single vs. couples, etc.)
• Frequency of visits (how often do they need such services?)
• Average disposable income
• Average spend per stay (hotel, restaurant, other)
• Favorite services (e.g. gyms, spas, etc.)

4. Sales & Marketing Strategy

This section should highlight the strategies you have in place to attract potential clients. Try to answer the following questions:

• What are your unique selling points (USPs)?
• Which marketing strategies will you use to attract new clients? 
• How will you track the success of your marketing strategy? 
• What is your customer acquisition cost (CAC)? 
• What is your marketing budget? 
• Will you consider any offers or promotions to attract new clients? 

What marketing channels do boutique hotels use?

Like any new business, a boutique hotel requires comprehensive marketing during the first months to attract potential clients.

You can resort to the following channels to help you get new clients, even from your main competitors:

• Online local listing (Google reviews)
• Online booking platforms (Booking.com, Tripadvisor, etc.)
• Social media content & ads: for example encourage your guests to post on social media and / or hire a social media content manager who will create daily posts and manage your social media presence
• PPC ads ( Google Ads )
• Word of mouth, recommendations 

What are your Unique Selling Points (USPs)?

In other words, how do you differentiate yourself vs. competitors? This is very important as you might need to win customers from competitors. A few examples of USPs are; 

• Quality of services : you may offer high-quality services (e.g. luxury suites, fine dining restaurant, etc.)
• Pricing: your boutique hotel may be cheaper vs. competitors for the same quality of service
• Location : setting up your boutique hotel near your target market gives you the upper hand
• Amenities : you may be the only boutique hotel in the area offering a health SPA, a separate event center for weddings, etc.

5. Management & People

You must address 2 things here:

• The management team and their experience
• The organizational structure : different team members and who reports to whom

Small businesses often fail because of managerial weaknesses . Thus, having a strong management team is vital. Highlight the experience and education of senior managers that you intend to hire to oversee your hotel business.

First, describe their duties, responsibilities, and roles. Also, highlight their previous experience and explain how they succeeded in their previous roles.

Organization Structure

Even if you haven’t already hired a general manager, administrative staff, receptionists, chefs, and other relevant staff members, you must provide a chart of the organizational structure defining hierarchy and reporting lines.

6. Financial Plan

The financial plan is perhaps, with the executive summary, the most important section of any business plan for a boutique hotel.

Indeed, a solid financial plan tells lenders that your business is viable and can repay the loan you need from them. If you’re looking to raise equity from private investors, a solid financial plan will prove them your boutique hotel is an attractive investment.

There should be 2 sections to your financial plan section:

• The startup costs of your project (if you plan to start a new hotel, renovate your hotel, adding rooms, etc.)
• The 5-year financial projections of your boutique hotel

a) Startup Costs

Before we expand on 5-year financial projections in the following section, it’s always best practice to start with listing the startup costs of your project. For a boutique hotel, startup costs are all the expenses you incur before you open your hotel and receive your first guests. These expenses typically are:

• The leasing deposit (if you rent) or the cost to buy the building (if you buy)
• Renovations and improvements
• Equipment & appliances
• Furniture & tableware

Of course, the startup costs depend on a number of factors, like the size of your hotel, its location, the facilities, etc.

On average, it costs $8,400,000 to $10,800,000 to build and open a small boutique hotel with 20 rooms (assuming you decide to build the hotel from scratch).

Note that these costs are for illustrative purposes and may not be fully relevant for your business. For more information on how much it costs to open and run a boutique hotel, read our article here .

b) Financial Projections

In addition to startup costs, you will also need to build a solid 5-year financial model for your boutique hotel business plan.

Note that your financial projections should be built using a spreadsheet (e.g. Excel or Google Sheets) and presented in the form of tables and charts in your business plan.

As usual, keep it concise here and save details (for example detailed financial statements, financial metrics , key assumptions used for the projections) for the appendix instead.

Your financial projections should answer at least the following questions:

• How much revenue do you expect to generate over the next 5 years?
• When do you expect to break even ?
• How much cash will you burn until you get there?
• What’s the impact of a change in pricing (say 15%) on your margins?
• What is your average customer acquisition cost ?

You should include here your 3 financial statements (income statement, balance sheet and cash flow statement). This means you must forecast:

• The number of nights booked over time ;
• Your expected revenue ;
• Operating costs to run the business ;
• The construction costs and FF&E expenses

When projecting your revenue, make sure to sensitize pricing, the expenses (salaries, utilities, supplies, etc.) and the number of stays (or booked nights). Indeed, a small change in these assumptions may have a significant impact on your revenues and profits .

7. Use of Funds

This is the last section of the business plan of your boutique hotel. Now that we have explained what your boutique hotel’s concept is, the amenities it offers, your marketing strategy, etc., this section must now answer the following questions:

• How much funding do you need?
• What financial instrument(s) do you need: is this equity or debt, both?
• How long will this funding last?
• Where else does the money come from? If you apply for a SBA loan for example, where does the other part of the investment come from (your own capital, private investors?)

If you raise debt:

• What percentage of the total funding the loan represents?
• What is the corresponding Debt Service Coverage Ratio ?

If you raise equity

• What percentage ownership are you selling as part of this funding round?
• What is the corresponding valuation of your business?

Use of Funds

Any business plan for a boutique hotel should include a clear use of funds section. This is where you explain how the money will be spent.

Will you spend most of the loan / investment in paying for construction costs? Or will it cover mostly renovation and furniture costs?

For the use of funds, we also recommend using a pie chart like the one we have in our financial model template where we outline the main expenses categories as shown below.

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1. what is a hotel business plan, 2. what is the purpose of using a hotel business plan, 3. what should a hotel business plan include.

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• A detailed sample analysis of your company and the work you do
• Industry and market analysis
• Client and customer evaluation
• Your competitors and other sources
• Marketing and operation plan, etc.

4. What Is a Successful Business Plan?

5. how do you write a hotel business plan.

• Operations : explain how your organization will operate daily
• Management : mention your management team
• Financial details : this is where you mention all key finances
• Project planning : define all the targets you want to hit
• Appendix and other details.

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How to Create a Hotel Business Plan

Budding hoteliers can set themselves up for success by building a solid business plan. The symbolic foundation of your hotel, your business plan keeps you on track and accountable to your objectives and goals and is necessary for securing investors. This is not to say that initial plans should not be adapted and revised, especially in an industry as capricious as hospitality. With a plan to guide you, you can maintain focus on your goals and make better decisions in an ever-changing market to ensure success through easy and challenging times.

When starting, resist comparing yourself and your business to large, billion-dollar chain hotels. Even these vast operations began with just an idea and a plan. Facing the blank page and writing something down is the beginning of turning ideas into reality. Here’s a checklist to get started:

10 Key Elements of a Hotel Business Plan

• Vision : A pithy slogan that accurately conveys your big-picture aspirations (e.g., Disney’s “Make People Happy”).
• Mission : Describe the type of guests your hotel caters to and the service and stay experience you offer.
• SMART Goals : Specific, Measurable, Achievable, Relevant, and Time-Bound criteria ensure your objectives will be met within an established time frame.
• Conduct a SWOT Analysis : SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. An effective business plan includes this tool to analyze objectives and identify the benefits and potential risks for your hotel in the local market.
• Competitor/Company Analysis : Outline your competitors, focusing on direct local ones. Being savvy about your competitors’ strengths and weaknesses also leads you to the question: what is your unique selling point (USP)? Your answer tells potential investors why they should invest in your business rather than the one across the road by highlighting your operation’s desirability to guests.
• Guest Segmentation : Your entire strategic plan and hotel brand are based on identifying your audience . Describe your target audience and emphasize, “Why my hotel.” Use research and data to show the relevancy and profitability of your target demographics.
• Marketing : How are you going to get the right message to the right customers at the right time? There are many affordable, effective marketing channels and tools for hoteliers today. Your marketing strategy should include social media, a website, email marketing, direct sales, online reviews, and advertising partnerships/collaborations with individuals or organizations.
• Revenue : An effective revenue management strategy takes into account demand forecasting, distribution, pricing strategies, and total revenue opportunities. Having a revenue management plan in place from the get go supports profitability, increases the likelihood of future growth, and is essential for hoteliers to navigate a constantly changing market.
• Distribution : Market insights determine the best way to distribute inventory , and your strategy should consider your website, online travel agencies (OTAs), and traditional travel agents. However, focus on your direct booking strategy to cut commission costs and drive your bottom line.
• Technology, such as a Property Management System (PMS).
• Hiring processes and strategies and the roles you must fill.
• Service standards.
• Suppliers, inventory management, and any other relevant information.
• Financial Plan : Include anything that impacts your operation’s finances, such as your business structure and model, start-up costs, fundraising opportunities, a return on investment (ROI) timeline for investors, reaching and maintaining profitability, and any critical suppliers and partnerships. Also, consider adding 30% of extra expenses and 30% more time to build your business so that nothing surprises you or sets you back.
• The Team : Include bios for your management team highlighting the expertise and credentials with which they will execute your business plan. Investors need confidence in your team to bring the written words of your plan to life and achieve success.
• Location selection, permitting and licensing, and build-out/construction.
• Staffing, training, and grand opening.
• Break-even point and eventual profitability.
• Appendix : Include supporting documentation, additional information, or intricate details at the end of your business plan. This is the area you will reference throughout your plan to keep your main content concise and uncluttered.

Once you’ve written your business plan, regularly refer to it to ensure that new activities and investments align with your original vision and goals. Think of it as your roadmap for turning your dreams into a successful hotel!

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Hotel Business Plan Sample

Published Jul.04, 2013

Updated Apr.23, 2024

By: Noor Muhammad

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Table of Content

Hotel Business Plan for starting your own hotel

Hotels are among some of the best businesses that you can start if you have the investment for it. As a matter of fact, if you want to invest a large sum of money in a business that has virtually zero risk, rental real estate business plan might just be the safest option.

We will give you a business plan for hotel that you can use to start your own hotel and make a lot of money while you are at it. This sample business plan for a hotel will follow the example of Hotel Intergalactic, a venture by John Abruzzi. Let us now see what business consultants have to say about this business.

Hotel Business Plan Summary

2.1 the business.

Hotel Intergalactic will be a 3-star hotel situated in downtown Los Angeles. The hotel will be registered with the local government and will be insured. The details of this business will be described in this executive summary for hotel with focus being on the way you can make lucrative profits by owning a hotel.

2.2 Management of Hotel Business

The next thing this business plan template for hotel needs to address is the way this hotel will be managed. For this, we will hire a manager to look after the day-to-day matters of the hotel. Other than the manager, one accountant and three assistant managers will be hired.

As this is a business plan for small hotel, we will not be hiring a lot of managerial staff to run it. The assistant managers will be responsible for procurement, operations, and customer service. The assistant managers will report to the manager who will act as an agent of the owner, John Abruzzi and will make decisions on his behalf in his absence.

2.3 Customers of Hotel Business

The customers of this free sample hotel business plan will be the following:

• People coming to visit Los Angeles.
• People who are in Los Angeles for business meetings.
• Los Angeles-based companies that need accommodation for their employees coming from other cities.

2.4 Business Target

The targets of Hotel Intergalactic are:

• Becoming the best hotel in Los Angeles.
• Starting to make a profit of $29,800 a month by the end of year 3.
• Expanding its services to at least other cities by the end of year 5.

Company Summary

3.1 company owner.

Hotel Intergalactic will be owned by John Abruzzi. John has a master’s degree in hospitality management and has been working in the hoteling industry for more than half his life. He knows the business and is passionate about it. He also has enough money to start the business. Combined, all these factors make him the perfect owner in this hotel business plan pdf.

3.2 Why the Hotel is being started?

John Abruzzi is one of the most prominent hotel managers in the area and that means if he starts a hotel people will know he means business. In this example of a hotel business plan, the main reason for starting this business is that this is a profitable business opportunity.

3.3 How the Hotel will be started?

Step1: Making a Feasibility Report

The next thing this new hotel business plan needs to discuss is the feasibility report. At this stage, a survey will be conducted to chalk out the demand and availability of hotels in downtown Los Angeles area. Any good hotel business plan sample doc needs to make sure of the thing that a proper feasibility report is made and the hotel is designed according to the demand in the area.

Step2: Developing a Brand

This hotel business plan, just like a resort business plans needs to cover another important thing. This is developing a brand. As the hotel is going to be in the heart of Los Angeles, it is cardinally important to have a brand.

Step3: Establishing the Hotel

As the hotel is to be constructed from scratch, the best-case scenario would’ve been an empty plot but that is not the case as the downtown Los Angeles area is fully covered by a concrete jungle. For this purpose, an apartment building will be bought and will be modified into a hotel.

Step4: Promotion and Marketing

Last, but not the least, the hotel needs to be promoted on all media channels to make sure people are aware of its existence and it attracts business.

Services of Hotel Business

A hotel business plan, unlike a home inventory business plan has a limited number of services. While a home inventory service business can offer a lot of services, a hotel business can only offer a few. Here’s an overview of the services Hotel Intergalactic will be offering:

• Accommodation

It goes without saying that the most important service offered by the hotel will be accommodation. The hotel will have 20 single-bed, 20 double-bed, and 10 twin-bed rooms for accommodating the guests.

• Banquet Service

The second most important service provided by Hotel Intergalactic will be that of a banquet. Three large halls will be made a part of the hotel and will be provided for everything from business meetings to birthday parties.

The top floor of the hotel will have an open-air rotating restaurant which will be open for the guests in the hotel and any other person coming in just for a meal.

• Bar and Lounge

The hotel will also feature a bar and a coffee lounge. These services will also be available for both the guests of the hotel as well as other people.

Marketing Analysis of a Hotel Business

Marketing analysis is the study of the various variables of the market that can affect the successful operation of a business. Any business plan for a hotel operation needs to shed light on this in order for the hotel to be successful. Before we get into the details of this business plan sample hotel industry, we need to have a look at the industry as a whole. There are just above 90,000 hotels in the US and more than $194billion change hands in this industry annually.

5.1 Market Trends

If you want to learn how to write a business plan for a hotel, you will have to closely study the trends of the industry. Just like making “https://www.ogscapital.com/article/property-management-business-plans”sample property management business plans, it is important to have an insight into the market before establishing a hotel.

The US hoteling market might have its seasonal ups and downs, but it has been noted in the past decade that the industry has seen a steady growth. The worth of this industry has increased from $133billion in 2009 to just under $200billion in the last decade. Industry experts and analysts are of the view that this industry will show a minimum of 5% growth by 2025.

Let’s now see more details of this hotel business plan outline.

5.2 Marketing Segmentation

One of the most important things to consider when planning any business is the market segmentation. You need to have a clear idea of the market segments that you are going to target and only then you can properly plan everything.

Apparently, the hoteling business is only for one market segment, the people who need a place to spend the night. However, there is more to the story that just that. Even a house painting business plan has multiple market segments. Any hotel can have customers and clients divided into a number of market segments. We will focus on four segments of the market via Hotel Intergalactic.

5.2.1 Individual Customers

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Most of our customers will fall into this category. These will be the people who show up at the hotel and want a room. We will make every possible effort to make sure these customers go home happy and consider us the next time they need a hotel.

5.2.2 Companies

Companies need accommodation for their employees when they are on a meeting. This segment of the market will give us bulk business and we will offer them discounts to make them our loyal customers.

5.2.3 Bar and Restaurant Customers

As the hotel will have a bar and restaurant, the people coming to visit them will also be a segment of the market for us.

5.2.4 Banquet Customers

As the hotel is to have three banquet halls, this will also be an important market segment for us. We will rent out the halls for conferences, parties, weddings, birthdays and any other function people need them for.

5.3 Business Target

Our business targets are:

• To maintain the highest standards of client satisfaction.
• To become a well-known name in the industry.
• To expand the business to all the major cities of the US.

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5.4 product pricing.

Hotel Intergalactic will offer the services at a price comparable to that of the competitors. We might keep the price a bit lower than that of the competition at the start to attract customers but once we earn name, we will increase the prices.

Marketing Strategy of Hotel Business

The next important thing for opening a hotel business plan is the marketing strategy of the hotel. No hotel management company business plan can be complete if it has no marketing strategy. To make a workable marketing strategy, we need to do the following.

6.1 Competitive Analysis

The competitive analysis for Hotel Intergalactic has revealed the following:

• The competition in this field is immense in the area we are working in. We need to provide something extra to get customers.
• We will provide complementary dinner to our customers. No hotel in the area does this and this will give us a competitive edge.
• We will subsidize the companies who want accommodation for their employees so that they choose us over the other options.

6.2 Sales Strategy

• We will advertise the hotel through all the media channels in the area.
• We will partner up with travel agents and tour planners to get customers.
• We will offer discounts to companies who want to get accommodation for a large number of their employees.

6.3 Sales Monthly

6.4 Sales Yearly

6.5 Sales Forecast

Personnel plan

Another thing that needs to be made clear in this hotel resort business plan sample is the staff that we will need to operate the hotel. Unlike an RV park start up business plan , we will need a larger workforce to smoothly run the operations of the hotel.

7.1 Company Staff

• John Abruzzi will be the owner and CEO of the hotel.
• 1 General Manager.
• 2 Assistant managers.
• 1 Accountant.
• 1 Receptionist.
• 3 Waitresses.
• 2 Bartenders.

7.2 Average Salary of Employees

Financial Plan

The last thing to be discussed in this business plan is the budget for hotel business plan. As the hotel is being started from scratch, the following expenses are to be arranged:

• The cost of establishing the hotel.
• The cost of hiring the staff.
• The salaries of the staff for the first 6 months.
• The cost of buying cars for guest pick and drop.
• The money needed to advertise the hotel.
• The money needed to establish a web presence of the hotel.

8.1 Important Assumptions

8.2 Break-even Analysis

8.3 Projected Profit and Loss

8.3.1 Profit Monthly

8.3.2 Profit Yearly

8.3.3 Gross Margin Monthly

8.3.4 Gross Margin Yearly

8.4 Projected Cash Flow

8.5 Projected Balance Sheet

8.6 Business Ratios

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2 thoughts on “ Hotel Business Plan Sample ”

i found this very helpful. thank you for sharing

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Hotel Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business ideas » Hospitality, Travel & Tourism » Hotel

Are you about to start a hotel and hospitality business? If YES, here is a complete sample hotel business plan template & feasibility report you can use for FREE .

Okay, so we have considered all the requirements for starting a hotel business . We also took it further by analyzing and drafting a sample hotel marketing plan template backed up by actionable guerrilla marketing ideas for hotel businesses.

So let’s proceed to the business planning section. All over the world, the hospitality business is being seen as a very serious trade and the reason for this cannot be farfetched.

The reason the hospitality business – especially the hotel business is being taken seriously is because of its relationship with the tourism industry. Starting a hotel business could eventually be one of the best things to attain for yourself. This is because of the lucrative nature and prosperity involved in this industry.

Every day foreigners, as well as local migrants and business people, travel from one point or the other and the option they are faced with is staying in hotels. It is pertinent to note that there are different categories of hotels, like 5-star, 4-star or even 3-star hotels.

One of the essential things that are unique to each category of the hotel is the facilities that make up each. Whatever type of hotel category you may have in view, there is always the most important step to take in making your business stand out, as well as succeed in the long run.

What can this be? Well, that is the hurdle of writing a business plan. You too have the wherewithal to do so, as a well put together business plan is available to you below.

A Sample Hotel Business Plan Template

1. industry overview.

The hospitality industry has been in existence from time immemorial and it is still waxing strong simply because people can’t do away with the services they offer. When you talk about a hotel, you are talking about an establishment that provides lodging for guests/travelers, tourists, visitors et al, on a short-term basis with a fee.

When people lodge in hotels, they have the option of subscribing to other services the hotel offers; services as feeding, drinks, laundry, fitness center, swimming pool, conference room, and business room, amongst others.

As a matter of fact, the facilities provided by some hotels may range from a basic bed and storage wardrobe to luxury features such as en-suite bathrooms, mini parlor et al. It is the norm for big hotels to provide additional guest facilities like a swimming pool, conference center, business center, childcare, self-service laundry, fitness center, and social function services.

In some countries, hotels are required by law to serve food and drinks to all their clients that are lodged in their facility while in some countries, you would have to choose the additional services you want from the hotel. The bottom line is the higher the amount you pay in hotels, the more the services you are entitled to.

Starting a hotel business is capital intensive and it is considered a long-term investment because it takes a while for the owners to break even and start making profits. No doubt it takes a big-time investor to consider starting his or her own hotel business, which is why loads of hotels are owned by groups of investors.

One good thing about the hotel business is that the business can grow so big that it will not only have an active presence in key cities in the country where it started from but in major cities on all the continents of the world. It is important to state that hotel operations vary in size, function, and cost which is why hotels are classified into different grades (two-star hotels, five-star hotels, seven-star hotels et al).

2. Executive Summary

Sean and Sharon Hotel will be located in the heart of Las Vegas less than 20-minute drive from McCarran International Airport in Las Vegas, and a few minutes drive from Mandalay Bay Event Center. We are conveniently located in the world’s headquarters for casinos and games; a commercial center.

Sean & Sharon Hotel believes in the passionate pursuit of excellence and financial success with uncompromising services and integrity, which is why we have decided to venture into the hospitality industry by establishing our own hotel.

We are certain that our values will help us drive the business to enviable heights and also help us attract the number of clients that will make our hotel fully booked all through the year.

We are going to be a customer-centric hotel with a service culture that will be deeply rooted in the fabric of our organizational structure and indeed at all levels of the organization. With that, we know that we will be able to consistently achieve our set business goals, increase our profitability and reinforce our positive long-term relationships with our clientele, partners, and all our employees as well.

Our hotel facility will be decorated in an exquisite and elegant facade, so much so that it will be a conspicuous edifice in the city where it is located. Sean & Sharon Hotel will provide a conducive spot for our customers to take a break from their various busy schedules, to a place where they can find comfort and luxury.

Sean and Sharon’s hotel will be equipped with a business center and a VIP lounge, as well as a Fitness room and self-service laundry which will be made available for resident guests at no extra cost.

We will also install free Wi-Fi that will enable our guests to surf the internet with their laptops in the hotel room free of charge, and there will be wireless access in all the public areas in the hotel; we will also provide mobile phones for a loan to business travelers for their convenience so as to enable them to stay in – touch with their family members, friends, and business partners.

No doubt our business class guest rooms will provide our customers with a warm and comfortable home away-from home experience, a large banquet venue, as well as Chinese and Intercontinental cuisine. We are set to give our esteemed guests an unforgettable experience whenever they patronize our hotel.

Sean and Sharon Hotel is owned by Sean Glacier, Sharon Glacier, and other investors whose names can’t be mentioned in this business plan for obvious reasons. The owners and board members of Sean and Sharon hotel are big-time investors in the hospitality industry.

Sharon Glacier has well over 20 years of experience in hotel management and she has a Master’s Degree in Hotel Management. She will be bringing her wealth of experience to the table to make Sean and Sharon Hotel the number one choice in Las Vegas.

Over and above we are building a hotel business that will be the cynosure of all eyes. One that competes favorably with other hotels that are in existence in Las Vegas. We plan to do this bearing in mind that it would take hard work, loads of financial commitment, as well as well-trained employees who can be indoctrinated in the quest for building a top-notch hotel in Las Vegas city.

3. Our Products and Services

Sean and Sharon Hotel is set to operate a standard hotel service in Las Vegas, Nevada. The point that we want to become a force to reckon with in the hospitality industry means that we will provide our guests with a fitness room, social room, self-service laundry room, and business center; for the purpose of business or leisure and more.

In all that we do, we will ensure that our guests leave with an unforgettable experience that will make them want to come back as well as recommend our hotel to their friends, family members, and business partners. These are the services and amenities that will be made available to our guests;

• Meals (Local Delicacies, Chinese cuisines, and intercontinental cuisines et al)
• Drinks (wines, beers, distilled spirits, martinis, beverages, and non–alcoholic drinks)
• Swimming pool
• Self – service laundry room
• Business center
• Conference room
• Banquet venue
• Shuttle service

4. Our Mission and Vision Statement

• Our vision is to open a standard hotel that will become the number one choice in Las Vegas
• Our mission is to deliver reliable, genuine, caring, and excellent service superior to what our competition can offer in any location where our hotel will be situated and to ensure that our hotel enjoys over 90 percent occupancy in most parts of the calendar year.

Our Business Structure

The success of any business is to a larger extent dependent on the business structure of the organization and the people who occupy the available role. Sean and Sharon Hotel will work with a business structure that will give room to employees to explore their creativity, give a sense of belonging, as well as grow through the corporate ladder of the organization.

We will work hard to ensure that we only recruit the right set of people with the right mindset to help us achieve our business goals and objectives in record time. We intend to build Sean and Sharon Hotel on this structure;

• Chief Executive Officer (Owner)
• Hotel Manager

Human Resources and Administrative Manager

• Bartender/Baristas
• Accountants/Cashiers

Facility/Maintenance Manager

• Marketing Officer
• Front Desk Officer
• Cleaners/Washer men

Security Officers

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

• Responsible for providing direction for the business
• Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for fixing prices and signing business deals
• Responsible for recruitment
• Responsible for payment of salaries
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization

Hotel Manager:

• Responsible for managing the daily activities in the hotel
• Ensures that the facility is in tip-top shape and conducive enough to welcome customers
• Interfaces with vendors
• Reports to the Chief Executive Officer
• Attends to Customer complaints and inquiries
• Prepares budget and reports for the organization
• Responsible for Training and Development in the organization
• Handles procurement
• Handles any other duty as assigned by the CEO
• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Defines job positions for recruitment and managing interviewing process
• Carries out staff induction for new team members
• Responsible for training, evaluation, and assessment of employees
• Responsible for arranging travel, meetings, and appointments
• Oversees the smooth running of daily office activities.

Marketing Officer (2)

• Develops, executes and evaluates new plans for expanding increase sales
• Documents all customer contact and information.
• Represents the company in strategic meetings
• Helps increase sales and growth for the company
• Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
• Responsible for planning and overseeing building work/renovation
• Responsible for allocating and managing space within buildings
• Responsible for managing building maintenance activities
• Responsible for coordinating cleaning, catering, and parking services
• Responsible for organizing security and general administrative services
• Ensures that facilities meet government regulations and environmental, health and security standards
• Advise on energy efficiency and cost-effectiveness
• Supervises multi-disciplinary teams of staff including maintenance, grounds, and custodial workers

Bartender / Baristas (4):

• Interacts with customers, takes orders for drinks, food, and snacks.
• Plans and presents bar menu.
• Checks identification of the guest to make sure they meet age requirements for purchase of alcohol and tobacco products.
• Mixes ingredients to prepare cocktails and other drinks.
• Mixes drinks, cocktails, and other bar beverages as ordered and in compliance with hotel standard drink recipes.
• Prepares alcohol or non-alcohol beverages.
• Services Wine and Beer to guests.
• Arranges bottles and glasses to make attractive displays.
• Assesses customer’s needs and preferences and makes recommendations
• Makes lists of supplies in conjunction with the bar manager/management
• Prepares inventory or purchase requisitions as needed to replenish supplies.
• Ensures that the assigned bar area is fully equipped with tools and products needed for Mixing beverages and serving guests.

Accountant/Cashier:

• Collect payment for drinks served and balance all receipts.
• Prepare a financial report at the end of every working week
• Handles all financial transactions on behalf of the company
• Interfaces with our bankers
• Responsible for payment of tax, levies, and utility bills
• Handle any other duty as assigned by the CEO/microbrewery manager

Front Desk Officer (2)

• Ensures that customers feel relaxed and at home
• Handles customers inquiries
• Ability to Sell or influence others for up selling and suggestive selling.
• Provides recommendations and suggestions to guest for choosing Drinks, food, and Snacks.
• Serve customers in a friendly and helpful manner.
• Provides guidance to guests on resort activities, dining options, and general resort and Regional information.
• Demonstrates a thorough knowledge of food and beverage products, menus, and Promotions
• Handles any other duty as assigned by the bar manager

  Cleaners/Washerman (6):

• Handles and moves objects, such as glasses, dish,es and bottles, using hands and arms.
• Cleans up after customers and cleans work area.
• Clears ashtrays as and when required.
• Washes glassware and utensils after each use.
• Maintains a clean working area by sweeping, vacuuming, dusting, cleaning of glass doors and windows, etc. if required.
• Ensures that toiletries and supplies don’t run out of stock
• Responsible for handling laundry
• Handles any other duty as assigned by the restaurant manager,
• Ensures that the facility is secured at all time
• Controls traffic and organizes parking
• Gives security tips to staff members from time to time
• Patrols around the building on a 24 hours basis
• Submits security reports weekly
• Any other duty as assigned by the restaurant manager

6. SWOT Analysis

Sean and Sharon Hotel is fully aware that they are coming into an industry that can be highly competitive which is why they have decided to pay attention to the SWOT analysis for the organization.

We know that once we are able to identify our strengths, our weaknesses, our threats, and the opportunities that are available to us, we will be able to come up with good business strategies that will help us achieve all our business goals and objectives.

We know too well that one of the ways to build a successful business in the long run is the ability to glean some lessons from the weak points we have found ourselves in and convert them into an area of strength. In a case where there is little or nothing that can be done, we may also work so hard so that our areas of strength blossoms more, so that are weak area is very less visible.

Here is a of the result we got from the SWOT analysis that was conducted on behalf of Sean and Sharon Hotel Las Vegas, Nevada;

Our area of strength cannot be farfetched; the location of our hotel is perfect for such business, our management team has robust experience in the industry, our customer services are second to none in the whole of Las Vegas and our facility is top notch

Our perceived weakness could be that we are a new business, and we may not have the financial muscle to sustain the kind of publicity we want to give our business.

• Opportunities:

We are in one of the cities in the world that never goes to bed, plus the fact that Las Vegas is regarded as the world headquarters as far as the casino business is concerned.

It means that loads of tourists, business executives, and travelers would want to visit Las Vegas and we are well positioned to welcome them because our hotel facility is just about 20-minute drive from McCarran International Airport in Las Vegas, and a few minutes drive from Mandalay Bay Event Center.

One of the threats that are likely going to confront us is; unfavorable government policies, the downturn in the economy which is likely going to affect sales, and perhaps the emergence of new hotels (competitors) within the same location where our hotel is located.

7. MARKET ANALYSIS

• Market Trends

The trend in the hospitality industry is such that there are peak periods and off-peak periods. Thus, hoteliers know this and have been able to make provisions to properly handle the change in season.

For example; during summer or during any major sporting event or business summit, most hotels in Las Vegas are almost fully booked. As a matter of fact, that is the period that some hotels make the money that will sustain the business for the rest of the year.

Be that as it may, some hotels are well positioned and they enjoy rich patronage all through the 12 calendar months of the year. Another trending feature in the hotel industry is that it is profitable to build your brand and then venture into the sale of franchises if you know you don’t have the capacity to manage various branches of your hotel.

Over and above, hoteliers are quite aware that they are in the industry not for quick returns on their investments, but to steadily build a brand that can become a global brand while growing their profits year in and year out.

8. Our Target Market

Sean and Sharon conducted her feasibility studies and market survey and we were able to identify those who we expect will eventually become our loyal customers.

We do not intend to waste our time on activities that would yield us nothing, which is why we invested time to create a hotel marketing plan to help us do only the most needful things. These are the category of people that we intend to market our hotel to;

• Corporate Executives
• Business People
• Sports Men and Women
• Government Officials
• College Students
• Traveling Agencies
• Event Managers
• Religious Organizations

Our Competitive Advantage

The competitive edge of Sean and Sharon Hotel Las Vegas, Nevada is the excellent and customized service that we offer to all our guests irrespective of their status. We can boldly say that the location of our hotel is going to give us an edge over our competitors in Las Vegas.

We are in the middle of the happening city in Nevada. From the location of our hotel, you can connect to any part of the city with little or no stress.

Another significant competitive advantage that we are bringing to the industry is the robust experience of our management team. We have a team that has a combination of 40 years of experience in the hospitality industry in the united states and Canada. They are considered core professionals in their own right.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Sean and Sharon Hotel will generate income from the following service offerings;

• Laundry service

10. Sales Forecast

It is important to state that our sales forecast is based on the data gathered during our feasibility studies and also some of the assumptions readily available in the field. Below is the sales projection for Sean and Sharon Hotel, it is based on the location of our hotel and the services and products that we will be offering;

• First Year-:  $600,000
• Second Year-: $900,000
• Third Year-: $1, 500,000

N.B -: This projection is done based on what is obtainable in the industry and with the assumption that there wouldn’t be any unfavorable government policy.

• Marketing Strategy and Sales Strategy

We will adopt the following means to attract the kind of people that we want in our hotel per – the time: The model of the bar we intend to run is a neighborhood type of bar, hence, we are not going to rely only on the conventional ways of marketing.

We don’t have the plans to run paid adverts on Local TV stations, local radio stations, or even local newspapers but we will sure maximize every other available means to promote our business.

Our unique selling proposition is that we have a collection of almost all brands of beers produced in America in our bar, we have assorted drinks and tobaccos et al. In view of that, we are going to adopt the following strategies to ensure that we do not only attract customers but generate repeated sales from them; Parts of the marketing and sales strategies that we will adopt are;

• Open our hotel in a grand style with a party for all.
• Advertise our hotel brand in travel and tours magazines, national newspapers, Satellite TV stations, and Radio station
• Promote our business online via our official website and all available social media platform
• Continuously Improve the performance of our brands
• Hire the services of experts to make our brands the first choice for guests
• Deliver consistent customer experiences to all our guests; making our first impression count positively
• Continuously Improve the efficiency of our hotels and operating processes
• Ensure that we Put our market scale and knowledge to good use
• Using our worldwide scale and experience to convert more hotels to our brands
• Make the most of our global presence – guests choose brands they know when they travel
• Build strong partnerships within our own company and with our stakeholders across the world
• Make use of attractive handbills to create awareness and also to give direction to our bar
• Position our signage/Flexi banners at strategic places
• Position our greeters to welcome and direct potential customers
• Create a loyalty plan that will enable us to reward our regular customers
• Engage in road shows within our neighborhood to create awareness for our hotel.

11. Publicity and Advertising Strategy

Sean and Sharon Hotel is in the hospitality business to make a profit and we can only make a profit if we steadily increase our customer base. No doubt, in order to remain relevant in the hospitality industry as a hotelier in Las Vegas, you should be able to continue to create hype around your hotel brand and that is exactly the publicity and advertising strategy that we will adopt.

We will ensure that we leverage all conventional and non – conventional publicity and advertising techniques to promote our hotel brand.

Although our hotel is located in Las Vegas, the scope of our market is global which is why we choose to make use of best practices as far as publicity and advertisement are concerned in the hotel business. Here are the platforms we intend leveraging on to promote and advertise Sean and Sharon Hotel, Las Vegas;

• Encourage our loyal customers to help us use Word of Mouth (referrals)
• Advertise our hotel brand in travel and tours magazines, national dailies, Satellite TV stations, and Radio station
• Promote our business online via our official website
• Sponsor relevant community programs
• Leverage the internet and social media platforms like; Instagram, Facebook, Twitter, et al to promote our brand
• Install our Bill Boards on strategic locations
• Engage in road shows from time to time
• Distribute our fliers and handbills in target areas

12. Our Pricing Strategy

Our pricing system is going to be based on what is obtainable in the industry, we don’t intend to charge more (except for premium and customized services) and we don’t intend to charge less than our competitors are offering in Las Vegas.

Be that as it may, we have put plans in place to discount our products and services once in a while and also to reward our loyal customers.

• Payment Options

Our payment policy is all-inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that will be available in every of our pubs;

• Payment by cash
• Payment via Point of Sale (POS) Machine
• Payment via online bank transfer (online payment portal)
• Payment via Mobile money

In view of the above, we have chosen banking platforms that will help us achieve our payment plans without any difficulty.

13. Startup Expenditure (Budget)

These is the key areas where we will spend our start–up capital on;

• Legal expenses for obtaining licenses and permits: $1,500.
• The Total Fee for Registering the Business in Las Vegas, Nevada: $750.
• Marketing promotion expenses (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
• Cost for hiring Consultant – $5,000.
• Insurance (general liability, workers’ compensation, and property casualty) coverage at a total premium – $30,800.
• Cost of accounting software, CRM software, and Payroll Software – $15,000
• Cost for acquiring facility for the hotel: $500,000.
• Cost for facility remodeling – $100,000.
• Other start-up expenses including stationery – $1000)
• Phone and utility deposits ( $3,500 ).
• Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $60,000
• The cost for Start-up inventory – $35,000
• Storage hardware (bins, utensil rack, shelves, glasses case) – $3,720
• The cost for counter area equipment (counter top, sink, ice machine, etc.) – $9,500
• Cost for serving area equipment ( glasses, flatware) – $5,000
• Cost for store equipment (cash register, security, ventilation, signage) – $13,750
• Office equipment and furniture – $3,600
• The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, Sound systems, tables and chairs et al): $4,000.
• The cost of Launching a Website: $600
• The cost for our grand opening party: $5,000
• Miscellaneous: $2,500

We would need an estimate of $3.5M to successfully launch Sean and Sharon Hotel in Las Vegas, Nevada.

Generating Funding/Startup Capital for Our Hotel

Sean and Sharon Hotel will be financed by Sean and Sharon Glaciers and their business partners. Part of the start–up capital will also be raised as a loan facility from the bank in the United States. These are the areas where we intend sourcing for funds for Sean and Sharon Hotel.

• Generate part of the start–up capital from personal savings and the sale of his stocks (Sean and Sharon Glaciers)
• Generate part of the start–up capital from our business partners
• Generate a larger chunk of the startup capital from the bank.

N.B: Please note that Sean and Sharon Glaciers want to retain the lion’s share of the business shares hence they both are investing a total of 1 million USD. They will also secure a mortgage to purchase the property for the hotel.

14. Sustainability and Expansion Strategy

Part of the grand plan of sustaining Sean and Sharon’s hotel is to ensure that we provide the best training for our employees, put a succession plan in place, and will not relent in marketing and promoting our hotel brand.

From our findings, another factor that kills new businesses is financial leakages. In order to plug financial leakages, the management of Sean and Sharon Hotel will adopt the use of payment machines and accounting software to run the business.

In the bid to build a successful business, we will ensure that all our employees are comfortable and we will provide them with the best facilities and welfare package that will help them achieve peak performance in all their duties and in turn help the organization achieve its goals and business objectives.

Check List / Milestone

• Business Name Availability Check: Completed
• Business Registration: Completed
• Opening of Corporate Bank Accounts: Completed
• Securing Point of Sales (POS) Machines: Completed
• Opening Mobile Money Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Acquiring facility and remodeling the facility: In Progress
• Conducting Feasibility Studies: Completed
• Generating capital from family members: Completed
• Applications for Loan from the bank: In Progress
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents and other relevant Legal Documents: In Progress
• Design of The Company’s Logo: Completed
• Graphic Designs and Printing of Packaging Marketing/Promotional Materials: In Progress
• Recruitment of employees: In Progress
• Purchase of the Needed furniture, electronic appliances, office appliances, and bar accessories: In progress
• Creating Official Website for the Company: Completed
• Creating Awareness for the business both online and in the neighborhood: In Progress
• Health and Safety and Fire Safety Arrangement (License): Secured
• Opening party / launching party planning: In Progress
• Establishing business relationship with vendors – suppliers of all our needed food ingredients, drinks, tobacco, and snacks: In Progress

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Here is a free business plan sample for a hotel.

Have you ever envisioned opening the doors to your very own hotel, creating a home away from home for travelers, but find yourself unsure of where to start?

In the content that follows, we will guide you through a comprehensive business plan tailored specifically for the hotel industry.

As any seasoned hotelier will tell you, a meticulously formulated business plan is crucial to thriving in the hospitality world. It serves as a roadmap, outlining your vision, objectives, and the strategies you will employ to turn your hotel into a successful venture.

To streamline your planning process and set a solid foundation for your hotel business, feel free to utilize our hotel business plan template. Additionally, our team of experts is on standby to review and refine your plan at no extra cost.

How to draft a great business plan for your hotel?

A good business plan for a hotel must reflect the unique aspects of the hospitality industry.

To start, it is crucial to provide a comprehensive overview of the hotel market. This includes current statistics and identifying emerging trends within the industry, as illustrated in our hotel business plan template .

Then, you should articulate your project with clarity. This encompasses your vision, pinpointing your target market (such as leisure travelers, business clients, event planners), and the distinctive positioning of your hotel (luxury, boutique, budget-friendly, eco-conscious, etc.).

The subsequent section should delve into market analysis. This requires a thorough understanding of the competitive landscape, market dynamics, and guest preferences.

For a hotel, particular emphasis should be placed on the services and amenities you plan to provide. Detail your offerings - rooms, suites, conference facilities, spa services, dining options - and explain how they cater to the needs and expectations of your intended guests.

The operational plan is equally vital. It should outline the location of your hotel, the layout of guest rooms and public spaces, vendor relationships for supplies and services, and the operational workflow.

For a hotel, it is important to highlight the quality of customer service, room standards, and adherence to hospitality regulations.

Next, address your marketing and sales strategy. How will you attract and retain guests? Consider promotional tactics, guest loyalty programs, and ancillary services (such as tours, transportation, or special events).

Adopting digital strategies, like a robust website, online booking capabilities, and a social media presence, are also crucial in the modern marketplace.

The financial framework is another critical component. This includes the initial investment, revenue projections, operating expenses, and the break-even analysis.

In a hotel, managing cash flow is complex due to the high fixed costs and seasonal fluctuations, so precise planning and a solid understanding of your financials are imperative. For assistance, refer to our financial forecast for a hotel .

Compared to other business plans, a hotel's plan must pay special attention to factors such as location desirability, guest experience, staff training and retention, and the impact of online reviews and ratings.

A well-crafted business plan will not only help the hotelier to define their vision and strategies but also to attract investors or secure loans.

Lenders and investors seek robust market analysis, realistic financial projections, and a comprehensive grasp of the hotel's day-to-day operations.

By presenting a thorough and substantiated plan, you showcase your credibility and dedication to the success of your hotel venture.

To achieve these goals while saving time, you can simply fill out our hotel business plan template .

A free example of business plan for a hotel

Here, we will provide a concise and illustrative example of a business plan for a specific project.

This example aims to provide an overview of the essential components of a business plan. It is important to note that this version is only a summary. As it stands, this business plan is not sufficiently developed to support a profitability strategy or convince a bank to provide financing.

To be effective, the business plan should be significantly more detailed, including up-to-date market data, more persuasive arguments, a thorough market study, a three-year action plan, as well as detailed financial tables such as a projected income statement, projected balance sheet, cash flow budget, and break-even analysis.

All these elements have been thoroughly included by our experts in the business plan template they have designed for a hotel .

Here, we will follow the same structure as in our business plan template.

Market Opportunity

Market data and figures.

The hotel industry is a significant component of the global tourism sector with substantial economic impact.

Recent estimates place the global hotel market value at approximately 570 billion dollars, with projections indicating growth as travel demand increases post-pandemic.

In the United States alone, there are over 54,000 hotel properties, contributing to an annual revenue of nearly 200 billion dollars for the hotel industry.

These statistics underscore the hotel industry's vital role in not only accommodating travelers but also in driving economic growth and employment.

The hotel industry is witnessing several evolving trends that are shaping the future of hospitality.

Personalization and experience-driven stays are at the forefront, with guests seeking unique and memorable experiences tailored to their preferences.

Sustainability is becoming increasingly important, with eco-friendly practices and green hotels gaining traction among environmentally conscious travelers.

Technology integration, such as contactless check-in, smart rooms, and AI-driven customer service, is enhancing operational efficiency and guest satisfaction.

The rise of alternative lodging options like boutique hotels and vacation rentals is also influencing the market, offering travelers more diverse choices.

Health and wellness have become a priority, leading to the integration of wellness amenities such as spas, fitness centers, and healthy dining options within hotels.

These trends highlight the hotel industry's adaptability and its commitment to meeting the evolving needs of modern travelers.

Success Factors

Several key factors contribute to the success of a hotel.

Location remains a critical aspect, with hotels in prime destinations or convenient locales more likely to attract guests.

Quality of service is paramount, as exceptional guest experiences can lead to repeat business and positive word-of-mouth referrals.

Modern amenities and comfort are essential for meeting guest expectations and staying competitive in the market.

Brand reputation and online presence, including positive reviews and ratings on travel sites, significantly influence booking decisions.

Adaptability to market trends, such as offering sustainable options or incorporating cutting-edge technology, can set a hotel apart from its competitors.

Lastly, effective cost management and strategic marketing are crucial for maintaining profitability and ensuring the long-term success of a hotel.

The Project

Project presentation.

Our hotel project is designed to cater to the needs of travelers seeking a comfortable and accommodating stay without compromising on their health and lifestyle preferences. Situated in a prime location with easy access to tourist attractions and business centers, our hotel will offer a range of amenities tailored to guests who prioritize wellness and sustainability. The hotel will feature hypoallergenic rooms, organic bedding, a fitness center, a spa offering natural treatments, and a dining area serving nutritious, locally-sourced food with options for various dietary requirements, including gluten-free, vegan, and vegetarian meals.

The emphasis will be on providing a restorative and rejuvenating experience, allowing guests to maintain their healthy routines while away from home.

Our hotel aspires to be a leader in the wellness hospitality sector, setting a new standard for health-conscious travel and accommodation.

Value Proposition

The value proposition of our hotel project is centered around offering a holistic and health-focused lodging experience. We understand the importance of maintaining a balanced lifestyle, and our hotel is committed to providing an environment that supports the well-being of our guests.

From our fitness and spa facilities to our dining options and eco-friendly practices, we aim to ensure that every aspect of our guests' stay contributes to their health, comfort, and satisfaction.

We are dedicated to creating a space where travelers can feel rejuvenated and aligned with their wellness goals, making our hotel the preferred choice for health-conscious individuals and those seeking a restful retreat.

Our commitment to excellence in service and our focus on well-being will establish our hotel as a cornerstone in the community for sustainable and healthy travel.

Project Owner

The project owner is a seasoned hospitality professional with a passion for wellness and sustainable living. With a background in hotel management and a personal commitment to health and the environment, they are driven to create a hotel that exemplifies these values.

Armed with industry experience and a forward-thinking approach, the project owner is dedicated to innovating the hospitality experience by integrating wellness into every aspect of the hotel's operations.

With a vision of promoting sustainable travel and a healthy lifestyle, they are determined to offer a unique lodging experience that not only meets the expectations of guests but also inspires them to prioritize their well-being even when on the road.

Their dedication to creating a nurturing and eco-friendly environment is the driving force behind this project, aiming to set a new benchmark for wellness-oriented hotels.

The Market Study

Market segments.

The market segments for this boutique hotel are divided into several categories.

First, there are business travelers who require comfortable and convenient accommodations with amenities that support their work-related needs.

Next, there are leisure travelers, including couples, families, and solo adventurers, looking for unique experiences and personalized service.

The market also includes event planners and organizations seeking venues for meetings, conferences, or special events.

Finally, local residents may seek the hotel for staycations, dining experiences, or as a venue for personal events such as weddings or parties.

SWOT Analysis

A SWOT analysis of this boutique hotel project reveals several aspects.

Strengths include a prime location, personalized customer service, unique thematic rooms, and high-quality amenities.

Weaknesses could include the high operational costs associated with maintaining a luxury experience and the challenge of building brand recognition in a competitive market.

Opportunities lie in capitalizing on the growing trend of experiential travel, forming partnerships with local businesses, and leveraging online marketing to reach a global audience.

Finally, threats could include economic downturns affecting travel spending, the rise of alternative accommodation options like Airbnb, and the need to constantly innovate to stay ahead of competitors.

Competitor Analysis

Competitor analysis in the boutique hotel sector reveals a diverse range of players.

Among direct competitors are other boutique hotels, luxury chains, and alternative accommodations offering unique experiences.

These competitors vie for discerning travelers who seek more than just a place to stay but a memorable experience.

Potential competitive advantages include exceptional service, exclusive amenities, a strong brand story, and a commitment to sustainability and local culture.

Understanding competitors' strengths and weaknesses is crucial for carving out a niche in the market and for customer acquisition and loyalty.

Competitive Advantages

Our boutique hotel's competitive advantages lie in our dedication to creating an immersive experience for our guests.

We offer uniquely designed rooms, each telling a different story, and personalized services that cater to the individual needs of our guests.

Our strategic partnerships with local artisans and businesses allow us to provide authentic local experiences, setting us apart from generic accommodations.

We are committed to sustainability, ensuring that our operations have a minimal environmental impact, which resonates with eco-conscious travelers.

You can also read our articles about: - how to establish a hotel: a complete guide - the customer segments of a hotel - the competition study for a hotel

The Strategy

Development plan.

Our three-year development plan for the boutique hotel is designed to establish a strong foothold in the hospitality market.

In the first year, our goal is to build a solid reputation for exceptional service and unique guest experiences, focusing on local and regional markets.

The second year will be geared towards expanding our marketing efforts to attract international travelers and implementing sustainability practices to enhance our eco-friendly brand image.

In the third year, we plan to explore additional services such as event hosting and wellness retreats, further differentiating our hotel in the competitive landscape.

Throughout this period, we will continuously seek to innovate and improve our offerings, ensuring that we remain a preferred choice for discerning travelers.

Business Model Canvas

The Business Model Canvas for our boutique hotel targets travelers seeking personalized experiences, luxury accommodations, and health-conscious amenities.

Our value proposition revolves around providing a unique and memorable stay, with a focus on wellness, local culture, and personalized service.

We offer our services through direct bookings via our website and partnerships with travel agencies, utilizing our key resources such as our well-trained staff, luxurious facilities, and prime location.

Key activities include guest services, facility maintenance, and creating tailored experiences for our guests.

Our revenue streams are generated from room bookings, on-site dining, and additional services, while our costs are associated with operations, staffing, and marketing efforts.

Find a complete and editable real Business Model Canvas in our business plan template .

Marketing Strategy

Our marketing strategy is centered on creating a strong brand presence and showcasing our unique selling points.

We aim to attract guests by highlighting our hotel's bespoke experiences, wellness focus, and commitment to sustainability. Our approach includes targeted online campaigns, partnerships with luxury travel influencers, and engagement with travel communities.

We will also collaborate with local businesses and cultural institutions to offer exclusive packages and promote local tourism.

Utilizing social media, we plan to share guest stories and testimonials to build trust and encourage word-of-mouth referrals.

Risk Policy

The risk policy for our boutique hotel focuses on mitigating risks associated with the hospitality industry, such as fluctuating occupancy rates and guest satisfaction.

We will implement dynamic pricing strategies to optimize revenue and maintain a high standard of service to ensure repeat business.

Regular training for staff will be conducted to uphold service quality, and we will invest in robust health and safety protocols to ensure the well-being of our guests and employees.

Additionally, we will secure comprehensive insurance coverage to protect against unforeseen events and liabilities.

Why Our Project is Viable

We are confident in the viability of our boutique hotel project, given the growing demand for unique travel experiences and personalized service.

With our focus on wellness, local culture, and sustainability, we believe we can attract a niche market of travelers and establish a loyal customer base.

We are committed to adapting to market trends and guest feedback to ensure the success of our hotel.

We are enthusiastic about the opportunity to create a destination that not only provides a luxurious escape but also enriches the lives of our guests and the local community.

You can also read our articles about: - the Business Model Canvas of a hotel - the marketing strategy for a hotel

The Financial Plan

Of course, the text presented below is far from sufficient to serve as a solid and credible financial analysis for a bank or potential investor. They expect specific numbers, financial statements, and charts demonstrating the profitability of your project.

All these elements are available in our business plan template for a hotel and our financial plan for a hotel .

Initial expenses for our hotel include acquiring or constructing the hotel property, outfitting guest rooms with furniture and amenities suitable for a comfortable stay, designing common areas to meet hospitality standards, investing in a reservation and management system, staff training for exceptional customer service, as well as costs related to brand creation and launching targeted marketing campaigns to attract guests.

Our revenue assumptions are based on a thorough market analysis of the local hospitality industry, considering factors such as tourism trends, business travel patterns, and the competitive landscape.

We anticipate a gradual increase in occupancy rates, starting conservatively and growing as the reputation of our hotel strengthens.

The projected income statement indicates expected revenues from room bookings, ancillary services (such as food and beverage, event hosting, etc.), operational costs (housekeeping, maintenance, utilities), and operating expenses (rent, marketing, salaries, etc.).

This results in a forecasted net profit essential for assessing the long-term viability of our hotel.

The projected balance sheet reflects assets specific to our hotel, such as property, building improvements, furniture, and equipment, and liabilities including mortgages and other anticipated expenses.

It shows the overall financial health of our hotel at the end of each fiscal period.

Our projected cash flow budget details the expected inflows from guest payments and outflows for operational expenses, allowing us to anticipate our cash needs throughout the year. This will enable us to manage our finances effectively and maintain liquidity.

The projected financing plan lists the specific financing sources we plan to use to cover our startup and operational expenses.

The working capital requirement for our hotel will be closely monitored to ensure we have the necessary funds to finance our daily operations, including purchasing supplies, inventory management, and salary payments.

The break-even point specific to our hotel is the level of occupancy and average daily rate needed to cover all our costs, including startup expenses, and begin generating a profit.

It will indicate when our business will become financially sustainable.

Performance indicators we will track include the average occupancy rate, average daily rate (ADR), revenue per available room (RevPAR), the guest satisfaction index to assess service quality, and the return on investment to measure the efficiency of our capital invested in the hotel.

These indicators will help us evaluate the financial performance and overall success of our hotel.

If you want to know more about the financial analysis of this type of activity, please read our article about the financial plan for a hotel .

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Hotel Business Plan

You’ve probably decided to follow your dreams and open your very own hotel. But before you begin spending your financial resources and designing your hotel blueprint, you need to have a hotel business plan . It will guide you every step of the way and serve as your road map to the opening.

14+ Hotel Business Plan Examples

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What is a Hotel Business Plan?

A hotel business plan contains the goals of the owners, the methods, and the timeframe for accomplishing them. It also describes the hotel as a business, its recorded history, as well as its financial projections and information. They serve as a road map for the owners on how to run the hotel.

How to Create a Hotel Business Plan

Statista reports that as of March 2020, the average daily rate of hotels in the United States to be $110.66 million. The current state of the world shows how a hotel business can go down without specific content in the plan. It has to be adaptable with unexpected events occurring all over the world by finding new ways of providing service and gaining profit. If you have never made a hotel business plan before, check out these tips for some ideas on your design.

1. Add Executive Summary

Place the executive summary in your business plan’s introduction. Your mission statement serves as an introduction to your design. It’s typically a one-line statement that describes the essence of your company. This explains why you are in business or the market’s need for your services. Your plan’s objectives or business goals will then specify what you hope to accomplish with this corporate venture.

2. Write Down Company Analysis

The concept you have for your hotel should contain a unique selling point to succeed in a competitive market. This general analysis comprises the distinctive qualities that differentiate your hotel business from others. Provide detailed information for this section to make it easier for investors and other stakeholders to grasp your ideas.

3. Present Market Analysis

Market research and customer analysis is a vital aspect of your document. After all, you can’t serve a market you know nothing about. In-depth information about your target customers will help you determine the primary needs of this market segment in terms of location, amenities, and service.

4. Discuss Operations Plan

This constitutes the management responsible for running key aspects of the business. You need to identify the type of staff members and administrative body your hotel business requires, such as the number of employees and their responsibilities.

FAQ’s

Do i pay for my hotel stay before or after i check-in.

Generally, most hotels charge you for your stay when you are checking out, right after your stay in the hotel. However, you can also pay beforehand for your stay if you wish to book a room in advance.

Is a hotel a good investment?

Hotels are generally a good investment and make for an excellent source of income as long as you have a large market and an effective way to draw in customers. The economy can significantly impact the success or failure of your hotel.

Who creates the hotel business plan?

It is usually the owner of the hotel who comes up with the business plan. However, one must be business savvy and have an education in hotel management when it comes to this. If the owner is not very knowledgeable, they can have a team prepare it for them instead.

Hotels vary depending on the characteristics they possess, including the services that they provide, the location, the prices, and whether the establishment is an independent firm or part of a chain operation. Whether you own a startup bed and breakfast or a 5-star luxury hotel, the only way it will thrive is to have a solid hotel business plan to guide your endeavors in the hospitality industry.

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Dubai’s Aleph Hospitality to run Nairobi’s Alloy Bar and Lounge

Alloy Bar and Lounge was opened in early 2024 located at Sarit Centre in Westlands.

By  Edna Mwenda

Business Reporter

Nation Media Group

Dubai-based hotel manager Aleph Hospitality has signed a contract to manage Alloy Bar and Lounge in Westlands Nairobi, adding to a list of firms under its umbrella.

Aleph Hospitality manages hotels directly for owners or on a franchise basis for branded properties.

Hotel management involves the overseeing of a hotel location including day-to-day operations such as staffing, payroll management, building and maintenance, housekeeping, and marketing.

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The new deal adds to other brands under the Aleph Hospitality management including Marriott International, Hilton, and Radisson Hotel Group under a franchise agreement.

“This is an exciting step for Aleph Hospitality... We currently manage 27 restaurants and 14 bars across our portfolio and continue to build on the strength of our Food and Beverage division," said Mr Bani Haddad, the founder and managing director of Aleph Hospitality.

"Alloy Bar and Lounge represents a thrilling new chapter in our growth as a rounded hospitality management company and an exciting addition to the vibrant Nairobi entertainment scene.”

The lounge boasts 2,700 square metres of space which can host up to 1,000 guests, houses a restaurant, a VIP area for private dining, a nightclub with live music and entertainment, as well as cigar, whiskey, and wine lounges.

The deal scene in Kenya’s hospitality industry is registering renewed activity in the hotel management business amid recovery from the vagaries of the Covid-19 pandemic.

Last year, Hong Kong-based hotelier Swiss-Belhotel International marked its debut in the Kenyan market after entering a management deal with NIBS Resort Company Management to manage Kileleshwa-based Emory Hotel which is expected to be rebranded to Swiss-Belinn Nairobi.

Swiss-Belhotel also took over the operations of the iconic Nairobi Safari Club, doubling its presence in the country in just a month.

Separately, the PrideInn Group manages three hotels including Pride Inn Azzure in Westlands, PrideInn Mara inside the Maasai Mara, and PrideInn Plaza in Athi River.

The hospitality sector is bouncing back remarkably after the challenges posed by the Covid-19 pandemic attracting new investors.

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Here’s How To Drive Group Business With Hotelplanner.com in 2024 and Beyond

I know what you are probably saying to yourself right now: HotelPlanner?!?!?!? Not that old thing again?!?!? Those leads are garbage and they NEVER convert!!! Well…(channeling my inner Chandler Bing)…you could not be more wrong!

With first hand experience and loads of data over years and years of using their services, I can tell you if you still have this attitude in 2024 it is because you are not utilizing their system the way it was designed. I’ve seen consistent portfolio close rates of 8.5%. Yes…that’s on minimally qualified RFPs and on the low end of what you might expect. But…when you use the tools HotelPlanner gives you to get the leads that matter, I have seen close rates consistently above 40% (and…NO…that doesn’t mean they got 5 leads and closed 2 all year!). Real prospects measured in the 1000s across an entire portfolio of hundreds of hotels.

If you want to maximize this potential partnership, keep reading. It’s pretty easy.

Who Can Benefit from HotelPlanner?

HotelPlanner is not…repeat…IS NOT a place for low rated business. Low rated leads do exist, but not any more than any other source. The stereotype that this site has earned among some in sales is undeserved.

It is not just your average booking platform – it’s a kind of hero for all sorts of events. It caters to groups of all sizes AND all rate levels. Whether a planner (or a novice stuck with the job!) is looking to book a block of nine rooms or 999 rooms, or groups with space or without space, or groups with F&B or without F&B, or any other combination it is an actual source of all types of groups.

Here are some key demographics that you can get in front of (in the order of what you can expect):

• Sports Teams & Youth Groups
• Corporate Business (AT&T, Walmart by example are just two exclusive users)
• School Groups
• Extended Stays 15+ Nights

So who can benefit from that? Well…everyone. These groups have a place at every property in some way, especially when you consider most leads are room-only blocks. All 4 major brands can utilize this platform with no issue: Marriott, Hilton, IHG, and Hyatt. These brands do place caps on the commission rates paid, so check with your NSO.

Additionally, HotelPlanner is also cooperating with Best Western, Choice, Wyndham, Sonesta, Cobblestone, G6, and others.

Making Friends with OTAs & More

HotelPlanner is actually the “power” behind OTA group business. Like www.groups.expedia.com is HotelPlanner’s “white label” application managing all leads and the sales process for every group wanting 5 or more rooms. The major OTAs such as Hotels.com, Priceline, Trivago, and more are all through them. This is on top of the public sites they run that appeal to people searching online for help in planning group events – i.e. novice people looking for 15 rooms for 2 nights for their corporate retreat. This means: Even if a client submits a group hotel request through one of these sites, they will remain on the respective site from start to finish. But if you want to gain a piece of this business, you need to use HotelPlanner or take a pass on this rather qualified group business.

Top 5 Ways to Maximize the HotelPlanner Lead Volume

So this goes to the stereotype I mentioned at the top of this article. Do junk rated leads exist on HotelPlanner? Absolutely. But just like spam messages shouldn’t stop you from using email, junk leads can be easily “deleted” and never bother you again. Leaving only the ACTUAL, valuable qualified leads you want to talk to. How do you do that?

1 – Filter Like Your Life Depends on It

And it is sooooooooooo easy to do. Just one time and less than five minutes, you can be walked through some simple check-box-steps to get only the size, rate, and room night RFPs you want. You can even qualify by space + rates, rates + no space, space + F&B, rooms only, even geography and group event types if you wanted it. You set these minimums and…in the words of Ron Popeil… you set it and forget it! (google him if you don’t know…) See our simple step-by-step guide to filters HERE

2 – Let the System Do the Talking

Short and to the point: Instant Offers are your best friend. Like the filters, HotelPlanner lets you pick any date or set of days you want and set up an autoresponder that will instantly fire off a response to any RFP for you, including restrictions, contractual minimums, and even incentives. And it can be done in a matter of minutes just like filters. So, if you have a set of dates this year or 3 years from now that are just so behind pace you are “distressed” , just load an Instant Offer with a “take it or leave it” rate complete with incentives and contractual requirements and let offers fly! And even if you are doing well but could use some help. Use Instant Offers with a solid, competitive rate offer. If no bites, oh well. But if they do, they are that much more qualified when they finally reach out in person to close the deal.

3 – Simplify the paperwork process with the e-contracting functionality

Utilizing this feature allows you to manage contracts electronically, saving time and reducing administrative burden. Enter any restriction or minimum you want, even concessions. It does it all.

4 – Explore GNET Rate Plan Technology

The GNET Rate Plan Technology enables instant group bookings for small groups ranging from 10 to 25 rooms. For small teams who need to concentrate on larger group needs, this can be your “automated admin” helping you book those few extra rooms to get over your goal!

5 – Consider Preferred Membership

If you join as a Preferred Hotel Member, your benefits will include: top placement in search results (think Google Ads for paid search!), reduced commission rates, personalized recommendations to clients, access to RFPs open for collective bidding (free listings have to wait for a planner to ask you personally), and more!

Cost of Using HotelPlanner

The great news is you can start with no fee to participate as a classic member. In this case, HotelPlanner operates on actualized referral fees, based on meeting planner commission fees per brand.

Additional Resources :

• Best Practices for Group Rates vs Transient Rates
• Account Review Check List
• Outlook Rules: for New Lead Notification Emails, for Referred for Consideration Emails and Quick Parts
• Useful HotelPlanner Contacts

How to Set Up RFP Filters & Qualifiers: HotelPlanner-Instant-Offers-How-To-Guide Download

In summary, HotelPlanner isn’t just any booking platform – it’s a comprehensive tool that integrates with you and your sales team, aligns with Branded hotels, provides you with a wide range of planners to reach who are ACTUALLY looking to book, as well as plenty of resources to help you maximize the production you will get.

Cogwheel Marketing

98 Union St Hanover, MA 02339 United States

Phone: 1 540 239 1052 [email protected] www.cogwheelmarketing.com

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Money blog: Nando's launches a ketchup - so we compared all brands. Which is best value - and which has more water than tomatoes?

Welcome to the Money blog, your place for personal finance and consumer news and tips. Leave a comment or your Money Problem/consumer dispute (don't forget to leave a contact number/email) in the box below.

Thursday 11 July 2024 20:08, UK

• Widespread issues with card payments reported - as people turned away from supermarkets
• Nando's launches a ketchup - so we compared all brands. Which is best value - and which has more water than tomatoes?
• Chances of August interest rate cut recede
• Water bills to rise by average 21% over next five years, regulator rules

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Ask a question or make a comment

A new competitor has emerged on the condiment shelf - Nando's ketchup.

It's being advertised as a twist on the traditional sauce, with a touch of "peri-peri magic" for your chips, burgers or bolognese.

This translates into a small amount of spices like cayenne pepper, bird's eye chilli, ginger, garlic, and paprika, as well onion and lemon purees.

We've taken a look at how it stacks up against the other ketchups on Asda's shelves below, with some key takeaways:

• Hellmann's has the most tomatoes and the least calories per serving
• Asda's own brand is by far the most affordable - with a very similar ingredients list to market leader Heinz
• Nando's is, just, the most expensive per 100g, though it's tricky to compare against all the below as some are only available in bigger bottles
• The main ingredient in Leon's, uniquely, is not tomatoes but water
• Leon's has the least sugar per serving

Price per 100g: 94.3p (for normal sized bottle) Main ingredient: Tomato paste (140g tomatoes per 100g) Calories: 17kcal per serving Sugar per 100g: 20g

Price per 100g: 80p (for normal sized bottle) Main ingredient: Tomatoes (148g per 100g) Calories: 15kcal per serving Sugar per 100g: 22.8g

Asda own brand

Price per 100g: 14.9p (only available in jumbo sized bottle) Main ingredient: Tomatoes (148g per 100g) Calories: 15kcal per serving Sugar per 100g: 21g

Price per 100g: 92.2p (normal sized bottle) Main ingredient: Water (with tomato paste second at 25%) Calories: Not available Sugar per 100g: 16.6g

Price per 100g: 29.2p (one up from normal sized bottle) Main ingredient: Tomatoes (117g per 100g) Calories: 17kcal per serving Sugar per 100g: 22g

Price per 100g: 40p (two up from normal sized bottle) Main ingredient: Tomatoes (168g of tomatoes per 100g) Calories: 13kcal per serving Sugar per 100g: 18g

Asda is the first to offer Nando's tomato sauce but it is expected to roll out at Sainsbury's, Tesco and other supermarkets in the coming months.

Virgin and Clyesdale Bank have announced a slight drop in their standard variable rate mortgage rates - in what could be seen as a precursor to a base rate cut in a few weeks' time.

From today, their SVR stands at 9.24% - down from 9.49%.

Barclays and Halifax have also announced they are dropping selected fixed- rate deals from tomorrow - continuing a trend we have seen in recent weeks.

Cowboy builders face a crackdown on trader recommendation websites under new guidelines proposed by the industry watchdog.

The Competition and Markets Authority says the web pages must tackle fake reviews and vet the tradespeople they advertise after "worrying evidence" emerged.

The regulator has published a first draft of its advice following concerns over websites that fail to sanction rogue traders, offer a complaints process, or monitor traders while making misleading claims about their trustworthiness.

Plusnet customers will from today see their mid-contract price changes expressed as "pounds and pence" rather than percentages in a bid by the internet provider to make information clearer for customers.

Price comparison service Uswitch has praised the move which gives "greater clarity" to consumers.

"The new model provides certainty when it comes to the cost of your contract and makes it easier for customers to manage their finances," the Uswitch telecoms expert Ernest Doku said.

The new model, which applies to new and existing customers who take out contracts after today, will see mid-contract charges at a flat rate for all customers - a yearly increase of £3 per month.

People with coeliac disease are paying up to 35% more for their weekly shop, research has found, with some even eating gluten to avoid paying higher costs despite the potential impact on their health.

A new report by Coeliac UK has found that 77% of people with the disease struggle to afford gluten-free products from supermarkets.

Seven in 10 people said shopping gluten free "adversely affects their quality of life" due to the cost and availability of the food on supermarket shelves and online.

Around 4% are choosing to eat gluten despite the risk to their health because of concerns around the cost of gluten-free food, while 27% would eat products with "may contain" for the same reason.

The research by Coeliac UK revealed that loaves of bread are 4.5 times more expensive on average, while pasta and plain flour are twice as pricey when made gluten free.

If you're thinking of stocking up on Sainsbury's snacks and drinks for Sunday's big game, you'd better do it ahead of time.

Like rival Tesco, the supermarket has announced it is closing convenience stores and petrol stations early across England so staff can tune into the Euros final.

More than a thousand branches will be closing at 7.30pm on Sunday, rather than 10pm or 11pm.

"We want to give our colleagues the chance to tune in live and cheer on England with friends and family. The atmosphere in stores is electric after last night's win," said Clodagh Moriarty, chief retail and technology officer.

Supermarket hours are unaffected as they usually close before the 8pm kick-off. 

Any online grocery orders which have already been booked will be honoured.

All branches will reopen at their usual time on Monday.

Earlier this week, business presenter Ian King answered questions from Money blog readers about what the new Labour government means for their personal finances.

One question related to the two-child cap on child benefit - which Labour have at times suggested they're ideologically opposed to, but won't commit to changing because of the cost.

Responding to a question about whether taxes could be raised for oil and gas companies to pay for scrapping the cap, King said: "The Resolution Foundation has estimated that the two-child benefit cap will save the government £2.5bn during the current financial year - which would rise to £3.6bn if applied to all families claiming universal credit.

"Labour is committed to raising the levy on North Sea oil and gas producers from the current 75% to 78% - and has earmarked the money raised will go towards funding its wider plans for energy and, in particular, decarbonisation.

"It would be ill-advised to raise taxes further. The decisions it has made have already had an impact on investment in the North Sea, as I report here.

"And don't forget, the cap is not just about saving money. It's also about avoiding awkward newspaper headlines and stories about big families being paid a small fortune in benefits of the kind that embarrassed the last Labour government and angered so many of its traditional working-class supporters in particular."

You can read all 21 of King's answers here ...

A "nationwide issue" has been affecting card payments.

Many social media users were reporting being unable to pay for their shopping in supermarkets this morning.

More than 600 people were flagging issues with Visa on Down Detector as of 9.45am, while over 100 had problems with Mastercard payments as of 10am.

A sign in one Sainsbury's store was requesting customers pay for their shopping in cash.

The supermarket said on social media it had been aware of a "nationwide issue" with card payments.

Vanessa Meehan, in Twickenham, said: "I've just been turned away at Sainsbury's as they can't accept card payments. Petrol station also coned off. The car is running on fumes and I need to get supplies."

A Sainsbury's spokesperson told Sky News at 11am that contactless payments had resumed after being "briefly unavailable for a few minutes this morning".

They said this was caused by an issue with its third-party payment provider.

"We're accepting all payments as usual and continue to monitor the situation. We're sorry for any inconvenience this may have caused," the supermarket said.

Asda also confirmed its payment systems were back up and running following temporary issues with Visa.

A Visa spokesperson confirmed to Sky News it had been aware cardholders were experiencing issues when making payments.

"While Visa's systems are operating normally, we are working with our partners to investigate," they added.

Mastercard said it was "aware of some payment transaction issues at select merchants in the UK" and was working to gather more information.

"There is no current indication that these issues are related to our network," a spokesperson said.

The UK's biggest supermarket chain has told customers its Express stores across England will close at 7.30pm instead of the usual 10pm or 11pm on Sunday - after England reached the Euro 2024 final.

It said the decision had been taken to allow its staff to get home or to the pub in time for kick-off at 8pm. 

Employees who do not want to watch the match will be paid as normal, it said. 

Stores will be open as normal the following morning. 

England are playing Spain in the final - and will have the chance to become the first England men's team to win a major tournament since the World Cup in 1966. 

By James Sillars , business reporter 

Faltering expectations for imminent interest rate cuts are playing out in financial markets today.

The pound is at a four-month high versus the dollar at $1.28.

That has been largely put down to remarks by Bank of England rate-setter Huw Pill, the Bank's chief economist, that the timing of the UK's first rate cut was an "open question".

He spoke up just 24 hours after another member of the monetary policy committee ruled out personal support for a reduction on 1 August.

Jonathan Haskel said too many stubborn inflationary pressures remained.

As such, financial markets now see only a 50/50 chance of a rate reduction to 5% from 5.25% at the next Bank meeting.

The chance of a cut had stood at 60% at the start of the week.

The pound has lifted as higher interest rates are generally supportive of a domestic currency.

Elsewhere, the FTSE 100 has opened to a flat calm - up just a couple of points at 8,000.

A big focus for investors this morning was the interim decision by water regulator Ofwat on what suppliers could charge their customers over the next five years.

To give you some idea of the reaction, shares in United Utilities and Severn Trent opened up by around 2%. Those of Pennon, the company behind South West Water, were up by more than 6%.

Water companies in England and Wales have been told they will not be allowed to impose the hikes to bills they have demanded, the industry regulator has said in an interim verdict on their business plans for the next five years.

Ofwat declared that it was minded to slash, by a third, the combined increases that the 16 companies had submitted.

It left the average bill, the watchdog said, set to rise by £19 a year or 21% over the period.

Read our report here ...

Meanwhile, more compensation, possible refunds and new customer panels have been announced as part of the government's "initial steps" towards ending what it describes as the crisis in the water sector.

You can read this story here ...

The appearance of finer weather helped the economy recover some lost ground in May, according to official figures that were better than expected.

The Office for National Statistics (ONS) recorded gross domestic product growth of 0.4% in the month, compared with its earlier determination of  zero growth during April .

A poll of economists by Reuters had pointed to a 0.2% increase for monthly gross domestic product in May.

On a quarterly basis, the UK's interest rate-driven recession of the second half of 2023 ended at the start of this year as the  Bank of England  ended its rate hiking cycle which was designed to cool inflation by choking demand in the economy.

Read our full story here ...

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