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A Sample Boutique Hotel Business Plan Template

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❶The challenge however lies more in the strategic and organizational areas of the business. I am at least 16 years of age.

How to Start a Hotel Business

A FREE Sample Hotel Business Plan Template
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Sean and Sharon 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 a free Wi-Fi that will enable our guests surf the internet with their laptop in the hotel room free of charge, and there will be wireless access in all the public area in the hotel; we will also provide mobile phones for loan to business travelers for their convenience so as to enable them 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, 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. The owners and board members of Sean and Sharon hotel are big time investors in the hospitality industry.

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. 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 the Las Vegas city.

The point that we want to become a force to reckon with in the hospitality industry means that we will provide our guests with fitness room, social room, and 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;. 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.

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 building Sean and Sharon Hotel on this structure;. 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 is 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 it to 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.

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.

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 headquarter as far as casino business is concerned. It means that loads of tourist, 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 few minute drive from Mandalay Bay Event Center. One of the threats that is likely going to confront us is; unfavorable government policies, 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.

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 provision 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 hotel 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. 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 year out.

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. A good rule of thumb is to set aside 25 percent of your investment money to pay for other costs.

These costs include closing costs with the seller, legal costs for the purchase contract , and working capital used to begin running the hotel.

Subtract this money from your investment amount and use the remainder to make a down payment. Calculate your price range. Your price range will depend on how much a down payment the seller of the property requires. Set several different price ranges that are dependent on the seller requiring different down payment percentages, from 5 percent to 20 percent.

However, with seller financing borrowing from the seller of the property , you may be able to get the down payment percentage down to 5 percent. Project future earnings from the hotel. You need to make sure that any hotel you want to buy will be able to provide you with enough returns to cover both your expenses and your cost of borrowing. To do this, project the cost of your loan payments over the next three to five years.

This may require the assistance of your loan broker. Make sure that these earnings cover or exceed your costs. Decide whether to buy an existing hotel or start your own. In looking for hotels to purchase, you have the option of either buying existing hotel properties or looking for another property to convert into a hotel or bed and breakfast. In the latter case, you will need to set aside more money for renovations, but are free to choose a larger variety of properties.

Make this decision before moving forward with the property selection process. Choose a general area. You may even have to move there full time to make sure the hotel is run properly.

In addition, having a familiarity with the local area and hotel market can be a serious advantage. Ask local real estate brokers about hotel sales in the area, specifically if they generally sell for less or more than the asking price. Lower prices may reflect a depressed market and allow you to come in at a lower price and possibly work out seller financing with the seller. Work with specialized real estate brokers. Let real estate brokers in your chosen area know that you are seeking to purchase a hotel and what your price range is.

They will be able to show you properties currently on the market or let you know if new ones become for sale. They also may be able to show you properties that can be converted into a hotel. It may also be advantageous to drive around the local area and look for properties, particularly if you are planning to significantly update or restore your hotel. If you find one, you can access real estate records at the county seat to find out who owns the property and go from there.

If the offer is missing any of these items contact the seller and request them. Hire an appraiser to value the hotel. In recent time, the Boutique Hotels industry has experienced steady growth as several consumer trends supported demand for the services offered by boutique hotels. For instance, consumer confidence and spending have both experienced steady increase over the period, allowing rates of both domestic and international travel to increase.

Another consumer trend has been the gravitation toward unique lodging and experience, which establishments in the Boutique Hotels industry offer. Going forward, the Boutique Hotels industry will continue experiencing this robust growth as domestic and non-US resident trips increase. The industry is responsible for the employment of well over 60, people. Experts project the Boutique Hotels industry to grow at a 5. InterContinental Hotels and Starwood are leaders in this industry; they have the lion share of the available market.

A recent report research conducted by IBISWorld shows that the Boutique Hotels industry has a low-level concentration, with the top four players expected to account for about However, albeit lower than chain hotel start-up and operating costs, start-up costs can be prohibitively high.

The report further stated that the Boutique hotels benefit from being able to convert buildings not normally suitable for hotel use, smaller spaces, while using low-cost luxurious materials e. Furthermore, independent boutique hotels do not have franchise fees, and some boutique hotels brands offer limited partnerships with investors. On the other hand, capital expenditure remains high.

Labor costs are lower for boutique hotels because of their smaller size in relation to chain hotels. Lastly, the boutique hotel business will continue to blossom because people will always have need to lodge for various reasons especially when they are out of their base.

There are rooms for any entrepreneur who is interested in running a boutique hotel business in the United States of America to start in any capacity and still maximize profit in the business. We are conveniently located in the worlds headquarter of casinos and games. 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 boutique hotel fully booked all through the year.

We are going to be a customer-centric boutique 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 boutique 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. We will also install a free Wi-Fi that will enable our guests surf the internet with their laptop in the boutique 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 loan to business travelers for their convenience so as to enable them 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, 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. The fact that we want to become a force to reckon with in the hospitality industry means that we will provide our guests with 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 boutique hotel to their friends, family members and business partners. We are well prepared to make profits from the industry and we will do all that is permitted by the law in the United States to achieve our business goals, aim and ambition.

Our product and service offerings are listed below;. Our vision is to become one of the leading boutique hotels — brands in Las Vegas — Nevada and all over the United States of America. Our mission is to deliver reliable, genuine, caring and excellent services superior to what our competitors can offer in any location where our boutique hotel will be situated and to ensure that our boutique hotel enjoys over 90 percent occupancy in most parts of the calendar year.

The success of any business is to a large extent dependent on the business structure of the organization and the people who occupy the available role.


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Aug 10,  · How to Buy a Hotel Business. Owning your own hotel is a popular way to start a new business. Every year thousands of people, ranging from the retired couple to the lifelong hospitality professional, buy guest houses, hotels or 80%(35).

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According to the United States Bureau of Labor Statistics, the hotel industry is expected grow by 5 percent between and Like any business, starting a hotel requires careful research and planning before opening. The easiest way to do this is to create a detailed business plan for your hotel.

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Writing your business plan doesn't have to be a chore. Just check out these sample business plans for hotels and motels to get some ideas and inspiration. We put together a guideline / template of how to write a hotel business plan. Simply follow our example /5().

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How to Start a Hotel: 5 Keys to Success Starting a hotel requires careful choice of a location and strategy, a business plan, access to considerable financial resources, and a customer service mindset. Buying a hotel can be a complicated process, even with previous experience owning and running an establishment. The business-for-sale marketplace is v.