Loading PDF

Owning a hotel is a dream for many people, who like to organize and engage in multiple different activities. From having unique themes to beautiful decor, a hotel business gives you an ample amount of chances to showcase your creativity.

But the pandemic might have naturally left many of you doubting the viability of hotels.

 

With a vast variety of reasons a hotel serves, the hotel business is very less likely to become irrelevant.

Most leading hotel businesses today, rely on software to manage their operations. Kiosk Mode for automated check-ins, on-the-spot reservations, and feedback, hotel management software for customer management, and revenue control are just some of the many solutions that streamline hotel management.

And all you need to have a thriving hotel business is a hotel business plan that'll help you get the maximum out of the profitable times and stay prepared for unexpected circumstances.

Industry Overview

The hotel industry stood at a whopping market value of 0.95 trillion dollars in 2021 and is recovering at a rapid rate after the COVID-19 pandemic.

The hotel industry is ruled by several major players, hence it is a good practice to go through their case studies and business strategies. There's a high chance that you might find something very useful for yourself. 

Work vacations and leisure trips are the major factors that contribute to the growth of the hotel industry.

Things to Consider Before Writing a Hotel Business Plan

  • Select a good location

    An accessible and well-located hotel is much more likely to work than a one that is situated otherwise. Also, the neighborhood you set up your hotel in matters a lot too. Hence, it is important to choose the right size of land and locality to set your hotel in. 

  • Find good suppliers

    From laundry, housekeeping to the right ingredients for the restaurant,  there are several supplies a hotel needs. And to satisfy your customers it is essential to get the best of everything. After all, the reputation and image of your hotel matter a lot when it comes to running a hotel business. 

  • Know your financial requirements

    A hotel has several financial requirements from location to installation of appliances, furniture, decor, and salaries of employees. This also makes for a complex financial structure. Hence, it is good to figure out and keep an account of all your financial needs before getting started. 

  • Find your USP 

    In the mass of industry giants and small businesses that exist in the business, it is important to have something that helps you stand apart from everyone else. From theme-based decor to additional services and ventures your USP can be anything. But make sure that you find one before you get up and running.

Chalking Out your Business Plan

If you are planning to start a new hotel business, the first thing you will need is a business plan. Use our sample Eleven Palms - Hotel Business Plan created using upmetrics business plan software to start writing your business plan in no time.

Before you start writing a business plan for your new hotel business, spend as much time as you can reading through some samples of the hotel and lodging-related business plans.

Reading some sample business plans will give you a good idea of what you’re aiming for and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.

We have created this sample Eleven Palms - Hotel Business Plan for you to get a good idea about how a perfect hotel business plan should look like and what details you will need to include in your stunning business plan.

 

Hotel Business Plan Outline

This is the standard hotel business plan outline which will cover all important sections that you should include in your business plan.

  • Executive Summary
    • Business Overview
    • Management
      • John Doe
    • Objectives
    • Mission Statement
    • Location and Facility
  • Business Overview
    • Ownership
      • John Doe
      • Steve Cowan
      • Key Advisors to the Company
    • Corporate Development Plan
      • Phase I
      • Phase II
  • Market Analysis
    • Economic Environment
    • Geographical/Competitive Environment
    • Legal/Political Environment
    • Technology Environment
    • Competitive Environment
      • High Line ($139-$750 per night, depending upon season)
      • Motel ($59-$119 per night, depending upon season)
      • Bed & Breakfast (B&B)
    • Market Research
      • Summary of Opportunities and Threats in the Environment
  • Competitive Analysis
    • Competitive Advantage
    • Industry Keys to Success
    • SWOT Analysis
  • Strategy & Implementation
    • Marketing Strategies
    • Target Markets - Consumer
    • Positioning and Product Strategy
    • Distribution Strategy
    • Pricing Strategy
    • Service and Support Philosophy
  • Marketing Plan
    • New Business Segment
    • Publicity and Public Relations
    • Guest Reward Programs
    • Advertising
    • Marketing and Promotion Budget
    • Evaluation & Control Strategies
  • Financial Plan
    • Project Funding Summary
    • Phase 1 Funding Amounts Sought
    • Financial Plan Assumptions
    • Income Statement Projections
    • Balance Sheet
    • Cash Flow Projections

After getting started with Upmetrics, you can copy this sample hotel business plan template into your business plan and modify the required information and download your hotel business plan pdf or doc file.

It's the fastest and easiest way to start writing your business plan.

Ready to Start Your Planning?

Now that you know how to write a business plan, it's time to create one for you.

Remember that problem and market analysis are essential, but implementation is what counts. Go through the process explained in this guide to start planning for your business.

We have created Upmetrics — business plan software to simplify the process of business planning.

Our business plan builder allows you to write and customize your business plan. Our sample business plans and inbuilt help tips will help you to get started with your writing even if you are no expert. Our business plan sections and charts will make your document visually attractive.

Our financial forecasting module will create all the essential reports automatically. You need to enter numbers, and the application will do all the math to generate all your financial statements. Later you can embed those reports into your business plan.

After completing your business plan, you can download your business plan in PDF or DOC file with Upmetrics. You can also share it online with investors just by a quick link.

Customize your Business Plan

All businesses are different. So, don't hesitate to customize your business plan according to your requirements.

Even though our sample business plans are to help you create the perfect presentation for your clients and investors, it is finally up to you to decide how you're going to present your ideas in the best light.

Use this Hotel Business Plan as guide and start writing your business plan.

Business Planning Resources

We have plenty of free business planning resources available to help you with your planning. You can download our resources to learn all about business planning.

How you would you like to rate this template?
Thank you! We have received your rating.
4.9/5
Average
DISCLAIMER: The business plans, templates, and articles contained on upmetrics.co are not to be considered as legal advice. All content is for informational purposes, and upmetrics makes no claim as to accuracy, legality or suitability. The site owner shall not be held liable for any errors, omissions or for damages of any kind.
It's easy and fun with Upmetrics. Preview
It's easy and fun with Upmetrics. Edit this plan