Developing a Hotel Business Plan

Abstract

This article details the information to include in a hotel project's business plan. Base the plan firmly in reality, emphasize the strengths of the venture, and deal with existing and potential problems. Substantiate major conclusions and highlight major assumptions. Begin with a synopsis of development status, project schedule, budget, and anticipated financial results. Include engineering information; development-cost estimates; ownership and management data; historical development; business format and structure; finances, including cash requirements, financial controls, record management, and financial results; and an operational perspective including description of the hotel, location analysis, operating environment, marketing issues, and operating performance.