example of a written hotel business plan

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

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• 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

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

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By Lana Cook

Do you love connecting with people from all over the world who share your passion for travel? Don’t want to work a typical 9-5 job and instead want to build a business where every day is different, and you own your schedule?

Starting a hotel business is a dream many entrepreneurs have, but it can be a daunting venture to start. A hotel business plan is a critical first step for business owners to turn their dreams into reality. A strategic plan allows one to study the hotel industry, identify their hotel’s unique point of view, and outline how exactly they will reach their goals.

Read on to learn more about the ten sections to include in your hotel business plan, tips for creating an effective plan, and key things you need to start your new hotel business.

Ready to get started creating your plan? Download our hotel business plan template.

What is a hotel business plan?

A hotel business plan is a detailed document that identifies your business’s goals, objectives, and strategies for success. It includes market research and a roadmap for building and operating your business.

Why do you 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:

• Helps you identify whether you have a viable business idea
• Provides a detailed roadmap on what you need to accomplish and why
• Gives potential investors insight into your business idea and confidence that you can be successful
• Keeps you on track as you start to execute the different tactics outlined in your plan
• Identifies critical milestones for you and your team to reach

Your plan does not have to be static and should change over time as your business grows and evolves. Your first draft is a starting point to help guide your strategy and instill confidence in potential investors.

10 sections to include in your hotel business plan

Whether you’re starting a small boutique hotel, a cozy B&B, or a 5-star resort, you will need to address the following sections in your hotel business plan.

1. Executive summary

An executive summary is the most essential part of your business plan. It should concisely explain the purpose of your business and why it will be a success.

Include your mission statement explaining why your hotel exists and its overall goal. For example, Capella Hotels & Resorts ’ mission is to combine tradition, discovery, individuality, and twist of the unexpected to create the perfect stay for each guest.

You should also include your vision statement that clearly describes your hotel’s purpose for being in a single sentence. For Capella Hotels, its vision is to embody excellence in the craft of hospitality.

We recommend writing your executive summary as the final stage, as it should summarize the goals and objectives laid out in your plan.

2. Company analysis

Your company analysis is where you can dive into your hotel’s competitive advantage. Ask yourself what makes your hotel unique . Why would guests want to stay with you instead of your competitors?

In this section, identify your brand’s identity and the goals and objectives you want to accomplish. Outline how many rooms and room categories your property will have. For example, will you offer a hybrid hospitality model with dorms, single rooms, and suites? Explain what ancillary revenue sources you’ll offer, like in-room food and beverage options, welcome drinks, or airport shuttles.

Use storytelling to communicate your excitement and passion and make it clear what your hotel will bring to the hospitality industry that hasn’t been done before.

3. Industry analysis

As a business owner, you must be prepared for forces outside your control. You will need to conduct a market analysis that looks at the hospitality industry to identify micro and macro trends that may impact your business. Look at:

• Economic trends
• Environmental trends
• Political trends
• Global health trends
• Technology trends

For each trend, identify how it will impact your business and ways to mitigate risk or take advantage of opportunities.

For example, digital check-in technology has increased across the hotel industry with the rise of tech-savvy guests, new innovative software providers, and labor challenges. Therefore, consider what guest experience solution you’ll include at your hotel.

In addition to trends, look at the history of the hospitality industry, its current size, and how it’s expected to grow in the short and long term. This research will impact the rest of your plan, especially your marketing and financials.

4. Customer analysis

What type of hotel guests do you want to attract? It’s impossible to please every kind of guest, which is why it’s important to identify your target market . Once you know who you want to stay at your property, you can develop amenities, services, and marketing materials to attract these guests and deliver exceptional experiences .

Ask yourself:

• What type of guests do I want? Business or leisure travelers? Retirees or Gen-Z?
• What demographics? Age, gender, marital status, etc.
• What are my target market’s interests? Water sports, hiking, relaxation, museums, etc.
• What does my target market value? Sustainability, contactless technology, personalized service, localized experiences, etc.

This section will help you formulate the guest experience to ensure that expectations meet reality .

5. Competitive analysis

The competition you face will vary depending on where your hotel is located. In this section, you should conduct in-depth competitor research to understand how your hotel will compare. Identify your five major competitors — ideally, three direct competitors you will be competing with upon opening and two aspirational competitors you can emulate as you grow your business.

Conduct a SWOT analysis based on your competitors to look at:

• Strengths . Where does your property excel in comparison to competitors? Why would travelers pick you? Price, amenities, location, technology, etc.
• Weaknesses . Where does your property fall short in comparison to competitors? Price, amenities, location, technology, etc.
• Opportunities . What industry trends can you take advantage of? What local events or partnerships can you capitalize on?
• Threats . What are the biggest threats facing your property? War, travel restrictions, recession, etc.

A thorough analysis can help solidify your competitive advantage and develop a contingency plan for how you will deal with your weaknesses and threats.

6. Marketing plan

Without demand, there is no business. A hotel marketing plan outlines the channels you’ll use to reach your target audience to drive bookings. Your marketing strategy should include three key channels:

1) Paid media . Paid advertising to promote your property and drive bookings. This includes online travel agencies (OTAs) , search engine marketing (SEM), retargeting, and metasearch advertising.

2) Owned media. The content  you create, like your hotel website , social media channels, blog posts, and SEO.

3) Earned media. User-generated content created by third parties like media coverage or online reviews.

7. Operations plan

How do you plan to run your day-to-day operations? This section of your plan will outline all of the key tasks and responsibilities of your team and what exactly your hotel will offer. Consider:

• The number of staff and supervisors required
• Job descriptions and responsibilities
• Your service standards (check out our downloadable SOPs for some inspiration)
• How you’ll manage your inventory
• What hotel technology solutions will you need? PMS, channel manager, booking engine, payment terminal, revenue management tools, guest engagement software, etc.
• What services and amenities do you want to offer? Room service, bar, restaurant, pool, spa, wellness center, etc. 

Detail your short and long-term operational plans and the stakeholders involved for each area.

8. Management team

Whether or not you’ve hired your team yet, this is one of the most important sections potential investors will look at. Make sure to outline the key personnel you will require and their roles. 

In general, these are the following roles you’ll want to outline:

• Hotel management (general manager, front office manager, housekeeping manager, maintenance manager, revenue manager)
• Hotel sales team
• Housekeeping staff
• Front office staff
• Maintenance

Depending on the size of your hotel, your team will vary. Identify the team members you need to open and your hiring plans over the next five years.

9. Strategic plan

Hoteliers must be strategic in optimizing occupancy rates across seasons to maintain revenue. As part of your strategic plan, identify how you will manage:

• Pricing – what room types will you offer, and how will the pricing vary?
• How will you maintain consistent occupancy throughout the high and low seasons? Will you adapt your pricing and marketing strategies?
• How will you conduct revenue management ? What type of rules/alerts will you use to adjust rates? Will you use technology to help with revenue management?
• What will your online reputation management strategy be? How will you collect and respond to online reviews?
• What will your distribution mix look like? How will you drive reservations across a variety of channels?

10. Financial plan

Your financial projections are the most challenging but arguably the most crucial part of your hotel business plan. In this section, you should include the following:

• Start-up costs. How much money will you need from lenders to operate your hotel? Consider business licenses, furniture, down payments, etc.
• Operating costs . How much money will you need to keep your business running? Consider staffing costs, guest acquisition costs, mortgage payments, utilities, SaaS payments, etc.
• Income statement . What will your revenue, expenses, and profit be over the first 3-5 years of business?
• Cash flow projections . How will cash flow in and out of your business? Show what capital investment you’ll need to start.
• Balance sheet . Identify your assets, liabilities, and equity.

If you’re looking for a potential investor, your financial plan will be the section they care about most. Here, you must prove how your business will provide a return on investment. Don’t forget to include an Appendix that shows more detailed reporting and financial figures.

8 tips for creating an effective plan

1. Start with the section that excites you the most! Covering all the topics outlined above can feel overwhelming, so don’t feel pressured to go in order.

2. Reach out to a business owner you admire. No matter what type of business you’re starting, getting advice from another business owner is always helpful. Reach out to a successful local business owner to see if they’d be willing to share some insights they learned along the way.

3. Be concise. While there’s a lot to cover, you must be concise in each section of your plan. Include any additional research or documentation in the appendix to keep your business plan clean.

4. Try to avoid industry jargon. Depending on what type of investor is reading your plan, they may find jargon irrelevant and distracting.

5. Ensure you have a clear competitive advantage. You should be able to state in one sentence what makes your property unique. This unique selling point (USP) will be prominent in all of your marketing materials.

6. Set SMART goals. Setting specific, measurable, achievable, relevant, and time-bound goals is important to stay organized and on track to reach milestones.

7. Don’t forget about your plan. You will have spent hours developing your plan, so make sure you use it! Reference your plan as you build and grow your business , and remember that it’s ok if things change.

8. Illustrate your passion. Communicate why you want to be a part of the hospitality industry. Passion is contagious and gives investors more confidence that you will work hard to achieve your dreams.

What do you need to start a hotel business?

Ok, so you’ve read through this article and are now wondering — what’s next? Ensure you have the following items on your radar to start your business.

• A vision. Know exactly what kind of business you want to build (a quaint bed and breakfast is very different from a large-scale resort).
• A business plan. Stay on track with a well-developed business plan.
• A location. Decide if you want to build a new property or renovate an existing hotel.
• Capital. Do you need to raise an upfront capital investment? Remember that new businesses usually aren’t profitable for the first few years and will need cash flow to pay for expenses.
• Business licenses & permits. Depending on the type of property and its services, you’ll need an occupancy permit, alcohol license, food service license, sales tax license, etc.
• Technology. Choose technology to help streamline operations and earn more revenue.
• Furniture & equipment. You must furnish your property with the proper furniture, electronics, appliances, etc.
• Staff. Take time hiring staff you can trust and who understand your hotel’s brand and vision.

Final thoughts

Your business plan provides the foundation for your new business and outlines the next steps in the journey. Ensure you fully understand the market and competitive landscape to enter the industry prepared for the future. Start slow and invest in the right people and technology to support the growth of your business.

Looking to start a hotel? Download the technology guide. Download now

About Lana Cook

Lana Cook is a Content Writer at Cloudbeds where she is able to combine her love of writing and passion for travel. She has spent the last few years writing about all things technology and the ways in which it can be used to help businesses thrive. When she’s not busy writing, you can find her checking out the latest movie or searching for a new TV show to binge.

Hotel business plan

You might also be interested in..., the beginner’s guide to hotel room price optimization, navigating hotel rfps: how to win more group business, a 2024 guide to hotel automation.

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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!

Hotel Business Plans

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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.

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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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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 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

How to Start a Hotel

Advertiser Disclosure

How To Start Your Own Hotel Business

If you’re looking to start a new hotel business, you’ve come to the right place since we’re going to show you exactly how to do it. We’ll start by sharing how to open a hotel step-by-step, then answer some frequently asked questions about running a hospitality industry business and being a successful hotel owner.

Importantly, a critical step in starting a hotel is to complete your hotel’s business plan. To help you out,   you should download Growthink’s Ultimate Hotel Business Plan Template here.

Download our Ultimate Business Hotel Plan Template here

15 Steps to Start a Hotel Business:

• Choose the Name for Your Hotel
• Develop Your Hotel Business Plan
• Choose the Legal Structure for Your Hotel
• Secure Startup Funding for Your Hotel (If Needed)
• Find a Location to Buy or Start Building Your Hotel
• Register Your Hotel with the IRS
• Open a Business Bank Account
• Get a Business Credit Card
• Get the Required Business Licenses and Permits
• Get Business Insurance for Your Hotel
• Buy or Lease the Right Hotel Business Equipment
• Develop Your Hotel Marketing Materials
• Purchase and Setup the Software Needed to Run Your Hotel
• Hire and Train Your Hotel Staff
• Open for Business

1. Choose the Name for Your Hotel

The first step to starting a successful hotel business is to choose your hotel’s name.  

This is a very important choice since your hotel name is your brand and will last for the lifetime of your hotel. Ideally, you choose a name that is meaningful and memorable. Here are some tips for choosing a name for your hotel business:

• Make sure the name is available. Check your desired name against trademark databases and your state’s list of registered business names to see if it’s available. Also check to see if a suitable domain name is available.
• Keep it simple. The best names are usually ones that are easy to remember, pronounce and spell.
• Think about marketing. Come up with a name that reflects the desired hotel identity and/or focus of your hotel.

2. Develop Your Hotel Business Plan

One of the most important steps in how to start a hotel business is to develop a hotel business plan . The process of creating your hotel business plan ensures that you fully understand your market and your business strategy. The plan also provides you with a roadmap to follow and if needed, to present to potential investors for your business.

To enhance your planning process, incorporating insights from a  sample hotel business plan  can be beneficial. This can provide you with a clearer perspective on industry standards and effective strategies, helping to solidify your own business approach.

Your hotel business plan should include the following sections:

• Executive Summary – this section should summarize your entire business plan so readers can quickly understand the key details of your hotel.
• Company Overview – this section tells the reader about the history of your hotel and what type of hotel you operate. For example, are you a boutique hotel, a bed and breakfast, or an inn?
• Industry Analysis – here you will document key information about the hotel industry. Conduct market research and document how big the industry is and what trends are affecting it.
• Customer Analysis – in this section, you will document who your ideal or target customers are and their demographics. For example, what is their income level? What amenities do they look for in a hotel? What do they find important when choosing where to stay?
• Competitive Analysis – here you will document the key direct and indirect competitors you will face and how you will build competitive advantage.
• Product : Determine and document what products/services you will offer. 
• Prices : Document the prices of your products/services.
• Place : Determine where your business will be located and how that location will help you increase sales.
• Promotions : Determine what promotional methods you will use to attract guests to your hotel.
• Operations Plan – here you will determine the key processes you will need to run your day-to-day operations. You will also determine your staffing needs. Finally, in this section of your plan, you will create a projected growth timeline showing the milestones you hope to achieve in the coming years.
• Management Team – this section details the background of your hotel’s management team.
• What startup costs will you incur?
• How will your hotel make money?
• What are your projected sales and expenses for the next five years?
• Do you need to raise funding to launch your hotel?

3. Choose the Legal Structure for Your Hotel

Next you need to choose a legal structure for your hotel and register it and your business name with the Secretary of State in each state where you operate your business.

Below are the five most common legal structures:

1) Sole Proprietorship

A sole proprietorship is a business entity in which the owner of the hotel and the business are the same legal person. The owner of a sole proprietorship is responsible for all debts and obligations of the business. There are no formalities required to establish a sole proprietorship, and it is easy to set up and operate. The main advantage of a sole proprietorship is that it is simple and inexpensive to establish. The main disadvantage is that the owner is liable for all debts and obligations of the business.

2) Partnerships

A partnership is a legal structure that is popular among small businesses. It is an agreement between two or more people who want to start a hotel business together. The partners share in the profits and losses of the business. 

The advantages of a partnership are that it is easy to set up, and the partners share in the profits and losses of the business. The disadvantages of a partnership are that the partners are jointly liable for the debts of the business, and disagreements between partners can be difficult to resolve.

3) Limited Liability Company (LLC)

A limited liability company, or LLC, is a type of business entity that provides limited liability to its owners. This means that the owners of an LLC are not personally responsible for the debts and liabilities of the business. The advantages of an LLC for a hotel business include flexibility in management, pass-through taxation (avoids double taxation as explained below), and limited personal liability. The disadvantages of an LLC include lack of availability in some states and self-employment taxes.

4) C Corporation

A C Corporation is a business entity that is separate from its owners. It has its own tax ID and can have shareholders. The main advantage of a C Corporation for a hotel business is that it offers limited liability to its owners. This means that the owners are not personally responsible for the debts and liabilities of the business. The disadvantage is that C Corporations are subject to double taxation. This means that the corporation pays taxes on its profits, and the shareholders also pay taxes on their dividends.

5) S Corporation

An S Corporation is a type of corporation that provides its owners with limited liability protection and allows them to pass their business income through to their personal income tax returns, thus avoiding double taxation. There are several limitations on S Corporations including the number of shareholders they can have among others.

Once you register your hotel, your state will send you your official “Articles of Incorporation.” You will need this among other documentation when establishing your banking account (see below). We recommend that you consult an attorney in determining which legal structure is best suited for your company.

4. Secure Startup Funding for Your Hotel (If Needed)

In developing your hotel business plan, you might have determined that you need to raise funding to launch your business. Determining whether you want to purchase and renovate or build a new structure will majorly impact when you can open your new hotel and the amount of funding you will need.

If so, the main sources of funding for a hotel to consider are personal savings, family and friends, credit card financing, bank loans, crowdfunding and angel investors. Angel investors are individuals who provide capital to early-stage businesses. Angel investors typically will invest in a hotel that they believe has high potential for growth.

5. Find a Location to Buy or Start Building

Having the right space is important for your hotel and choosing the best location can have a major impact on your business.

To find the right space, consider:

• How many rooms will your hotel have?
• What are the zoning requirements for hotels in your area?
• Is the local market a good match for your target customers?

If you plan to build a new structure for your hotel, you will also need to work with architects to establish a timeline and determine construction costs.

6. Register Your Hotel with the IRS

Next, you need to register your business with the Internal Revenue Service (IRS) which will result in the IRS issuing you an Employer Identification Number (EIN).

Most banks will require you to have an EIN in order to open up an account. In addition, in order to hire employees, you will need an EIN since that is how the IRS tracks your payroll tax payments.

Note that if you are a sole proprietor without employees, you generally do not need to get an EIN. Rather, you would use your social security number (instead of your EIN) as your taxpayer identification number.

7. Open a Business Bank Account

It is important to establish a bank account in your hotel’s name. This process is fairly simple and involves the following steps:

• Identify and contact the bank you want to use
• Gather and present the required documents (generally include your company’s Articles of Incorporation, driver’s license or passport, and proof of address)
• Complete the bank’s application form and provide all relevant information
• Meet with a banker to discuss your business needs and establish a relationship with them

8. Get a Business Credit Card

You should get a business credit card for your hotel to help you separate personal and business expenses.

You can either apply for a business credit card through your bank or apply for one through a credit card company.

When you’re applying for a business credit card, you’ll need to provide some information about your business. This includes the name of your business, the address of your business, and the type of business you’re running. You’ll also need to provide some information about yourself, including your name, Social Security number, and date of birth.

Once you’ve been approved for a business credit card, you’ll be able to use it to make purchases for your hotel. You can also use it to build your credit history which could be very important in securing loans and getting credit lines for your business in the future.

9. Get the Required Business Licenses and Permits

Every state, county and city has different business license and permit requirements.

Nearly all states, counties and/or cities have license requirements for hotel, including:

• Business License :  A general business license is required for all businesses, including hotels. The cost of a business license varies depending on the state, county and/or city in which the hotel is located.
• Occupancy Permit :   An occupancy permit, also called a Certificate of Occupancy, is required before you can open your hotel to the public.
• Alcohol Licenses :  If you plan to serve alcohol at your hotel, you will need to obtain the appropriate license from the state in which your hotel is located.
• Sales Tax License :  You will need to obtain a sales tax license in order to collect sales tax from your customers.
• Food Service License : If you plan to serve food at your hotel, you will need to obtain a food service license.
• Fire Department Approval :  Most hotels are required to have approval from the local fire department before they can open to the public.

Be sure to check local government guidelines to determine which licenses and permits hotels are required to obtain in your area.

10. Get Business Insurance for Your Hotel

The right business insurance is important to protect your new hotel. Business insurance policies that you should consider for your hotel include:

• General Liability Insurance: This insurance protects your hotel business from third-party claims of bodily injury, property damage, and personal injury that occur on your premises or are caused by your business.
• Workers’ Compensation Insurance: If you have employees, you may be required to have workers’ compensation insurance. This insurance protects your employees if they are injured or become ill as a result of their job.
• Property Insurance: This insurance protects your hotel property from loss or damage due to fire, theft, vandalism, and other covered events.

11. Buy or Lease the Right Hotel Business Equipment

Beyond the furniture and equipment you will need in each room, opening a hotel will also require some business equipment, including:

• A reservation system to take bookings
• A property management system (PMS) to manage rooms and rates
• A booking engine if you want to accept online bookings
• Rooms keys and/or access cards
• Reception furniture

12. Develop Your Hotel Business Marketing Materials

Marketing materials will be required to attract and retain customers to your hotel.

The key marketing materials you will need are as follows:

• Website : Likewise, a professional hotel website provides potential customers with information about the services you offer, your company’s history, and contact information. Importantly, remember that the look and feel of your website will affect how customers perceive you.
• Social Media Accounts : establish social media accounts in your company’s name. Accounts on Facebook, Twitter, LinkedIn and/or other social media networks will help customers and others find and interact with your hotel.
• Logo : Spend some time developing a good logo for your hotel. Your logo will be printed on company stationery, business cards, marketing materials and so forth. The right logo can increase customer trust and awareness of your brand.

13. Purchase and Setup the Software Needed to Run Your Hotel

Most hotel businesses need a few types of software to run successfully.

First, you will need a PMS. This is software that helps you manage reservations, check-ins, and other aspects of your operations. Some popular options include Cloudbeds, Oracle Hospitality, and HOTELTIME.

You will also want to have a customer relationship management (CRM) system. This software helps you track interactions with customers, manage customer data, and market to potential guests. Many hotels use programs such as Experience Hotel, Oracle NetSuite, and Salesforce.

Additionally, you need to use accounting software such as Quickbooks or M3 to manage your hotel’s expenses.

Research the software that best suits your needs, purchase it, and set it up.

14. Hire & Train Your Hotel Staff

The quality of your hotel staff can make or break your business. You need to take the time to find, interview, and hire the right people.

Start by writing job descriptions for the positions you need to fill. Then, post the job openings online and in places where potential employees are likely to see them. Once you have a pool of candidates, conduct phone and in-person interviews to narrow down your choices.

Finally, once you have selected the employees you want to hire, provide training on your hotel’s policies and procedures. Additionally, give them a tour of the property and introduce them to other staff members. It helps to build out a strong sales team to prospect new business and nurture customer loyalty.

15. Open for Business

You are now ready to host a grand opening for your hotel. Make sure to include your grand opening event in your marketing plan and promote your hotel launch to the right target audience.

If you follow the steps above, you should be in a great position to build a successful business and know everything you need about how to start a hotel business. Below are answers to frequently asked questions that might further help you.

How to Finish Your Hotel Business Plan in 1 Day!

How to open a hotel faqs, is it hard to start a hotel.

Starting any business has its challenges and opening a hotel does require some planning and preparation. The biggest challenges in owning a hotel are securing funding for your new hotel, finding a great location to buy or build, and setting up systems that help your hotel achieve operational efficiency.

As with starting any business, having a good business idea, doing market research, and getting support from experts in the industry increase your chance of success.

How Can I Own a Hotel With No Experience?

If you have no experience in the hotel industry, you will need to find a good hotel management company. A hotel management company can help you with all aspects of starting and running your hotel. They will also be able to provide you with the necessary training.

What Types of Hotels Are Most Profitable?

There is no one-size-fits-all answer to this question. The type of hotel that is most profitable will depend on the location of your hotel and what is of value to the market in that area. A boutique hotel might be a huge success in a small city, while a family-friendly hotel could make more money when placed near a theme park. It is important to do market research to determine which type of hotel can be a profitable business in your area.

How Much Does It Cost To Start a Hotel?

Again, there is no one-size-fits-all answer to this question. The cost of starting a hotel will depend on a number of factors, such as the location of your hotel, the type of hotel, and the level of service you offer. You will also have different upfront costs depending on whether you are building a new hotel or purchasing an existing structure.

With regards to building costs or buying an existing property, this varies tremendously based on the type of hotel (e.g., budget vs luxury) and hotel size (e.g., 5 rooms vs 500 rooms).

How Does a Hotel Make Money?

A hotel makes money by charging guests for the use of the hotel's facilities. The amount charged will depend on the type of hotel, the location, and the level of service offered. Beyond charging for guest rooms, hotels may also make money from additional amenities, such as in-house restaurants, room service, and high-speed internet access.

Is Owning a Hotel Profitable?

Owning a hotel business can be profitable, but the amount of profit is highly-dependent on a number of factors, such as the location of your hotel. You can improve the profitability of your hotel by offering a higher level of service, attracting more guests, and keeping your expenses low.

How Much Does a Hotel Owner Make?

Hotel owners, operators and executives receive varied pay amounts based on the success of their hotel. According to Glassdoor, the typical Starwood Hotels & Resorts Vice President salary is $244,472, which is 45% above the national average.

What Are the Key Financial Metrics and Costs in the Hotel Market?

The key financial metrics in the hotel market are as follows:

Industry profit is measured as earnings before interest and taxes. Industry profits have averaged 15.5% of sales in recent years.

The industry’s major expenses are purchases and cost of sales, such as bedding and room supplies. Many hotels also provide meals and liquor, either in individual rooms or in separate restaurants or dining areas.

Last year, purchases were estimated to account for 29.9% of an average operator’s revenue.

Labor is required in many aspects of hotel management, from front-of-house activities, such as front desk, concierge and related activities, to all back-of-house activities, including general management, accounting, marketing, room cleaning and servicing the kitchens, bars and restaurants.

Many hotel jobs have a low skill and training requirement, and employees can be hired on a part-time or casual basis. Because of this practice, many hotels have high staff turnover.

Therefore, there is a constant need for recruitment and training, which can be costly. Some hotel owners and operators have outsourced part of their staff services to specialist staff-recruitment agencies to lower recruitment costs.

Last year, industry wages accounted for approximately 25.7% of total industry revenue.

Rent and Utilities

Rent and utilities on average comprise 7.6% of hotel revenue.

Other Expenses

Marketing expenses and royalty fees are another significant cost for those industry participants that operate on a franchise basis. Franchisees typically pay an annual fee of 4.0% to 6.0% of total revenue.

Other major operational expenses include repairs and maintenance, promotional costs, commission paid to agents, bookings and internet fees, accounting and legal costs, motor vehicle expenses, stationery and printing, insurance and other administrative and overhead costs.

Why Do Hotels Fail?

Hotels can fail for a number of reasons, including high expenses and low occupancy rates. Hotels can also fail due when owners misunderstand the market in an area and target the wrong customers or fail to do adequate research into hotel industry trends that impact their business.

Often, hotels begin to struggle due to poor management decisions that negatively impact the guest experience. Closely monitoring your spending and making sure your staff is performing well both go a long way toward making your hotel succeed.

How Big Is the Hotel Industry?

According to IbisWorld, there are 74,372 hotels, and the hotel industry generated $166.5 billion in revenue in the United States alone last year. This represents an annual growth rate of 4.7% over the past 5 years.

Industry profits were $26.0 billion, and wages paid to hotel employees totaled $42.7 billion.

What Are the Key Segments of the Hotel Market?

 A hotel is an establishment that provides lodging and, often times, meals and other services for travelers and other paying guests. A motel, on the other hand, provides lodging for motorists in rooms usually having direct access to an open parking area.

A particular hotel or motel can be classified by a number of characteristics, including whether it provides full or limited service, whether or not it is located in a metropolitan area, the state or region in which it is located, its price or rate level, the number of rooms, and whether it is independent or part of a chain operation.

Hotels and motels can also be segmented by room price rates. The establishments with room rates in the highest 30 percentile that are located in local or metropolitan markets are classified as upscale or luxury. The middle 30 percentile is classified as mid-priced, and the lowest 40 percentile as either economy or budget.

Overall, sales from hotels account for 87.4% of industry revenue and 82.0% of industry employment, though they account for only 44.0% of industry establishments.

Hotels that consist of 25 or more rooms provide 83.6% of industry revenue (with 62.7% of industry revenue coming from guest room rentals, 12.5% coming from food and alcohol sales, 4.2% coming from conference and meeting rooms and 4.2% coming from other charges), while hotels that offer fewer than 25 rooms only constitute 3.8% of industry revenue.

Motels provide about 12.6% of industry revenue. The relative proportion of revenue from each of these segments has been relatively stable over the past five years, although motels experienced some growth at the expense of higher-priced hotels during the recession.

What External Factors Affect the Hotel Market?

A number of factors affect the performance of the hotel industry. These drivers include:

• Domestic Trips By US Residents : Trends in domestic travel, especially for business travellers, and the total nights spent away from home directly affect demand for accommodation. As the number of trips made by US citizens rises, demand for hotels and motels to house them increases.
• Consumer Confidence Index : Changes in consumer confidence influence decisions that individuals make concerning expenditure on entertainment and traveling, particularly during a recession.
• Consumer Spending : Consumer spending levels have a direct effect on travel demand. When consumers are spending more overall, they are more likely to spend some of their money on travel and accommodations.
• Inbound Trips By Non-US Residents : Trends in international visitor arrivals and their lengths of stay influence demand for accommodation. A rise in inbound trips positively affects demand for hotels and motels.

Who Are the Key Competitors in the Hotel Market?

 As specified above, there are 74,372 hotels in the United States.

The market leaders (in terms of market share) include Hilton Worldwide Holdings Inc. (13.7%), Marriott

International Inc. (13.5%) and InterContinental Hotels Group PLC (7.5%).

The rest of the market is comprised of many smaller players.

Who Stays in Hotels?

Recent demographics show that totel guests are comprised of: 

• Domestic leisure travelers: 48.5%
• Business travelers: 24.0%
• International leisure travelers: 14.0%
• Meetings, events and incentive travelers: 13.5%

What Are the Keys to Launching a Successful Hotel?

Starting a hotel requires careful choice of a location and strategy, a business plan, access to considerable financial resources, and a customer service mindset.

1) Location and Opportunity

The location for your hotel is highly linked with the opportunity that you feel there is for your hotel. In the right location, where competitors are not fulfilling all customer needs, a hotel can thrive. However, in a beautiful neighborhood that happens to have heavy competition from existing hotels, success may not be so forthcoming. Likewise, if the neighborhood leaves too much to be desired, you may not be able to price the rooms low enough to encourage travelers to stay at your hotel, even if you are within walking distance of key attractions.

2) Strategy

The next step is to know how customers will answer the question “why my hotel?” How will you tailor your services to the customers you want to attract, whether they are families with kids, couples on romantic vacations, businesspeople, or international tourists? Consider the combination of amenities, atmosphere, location, and services that will be right for your customers. Always keep in mind that strategy means making tradeoffs – it is almost impossible to be everything to everyone and succeed. You might have to forgo a certain customer target market in order to make your service offering perfect for your most desired customers.

3) Planning

A hotel business plan is necessary not only for you to think through how you will take on the opportunity, but for you to convince any investor or lender that you have the ability to do so. No savvy investor will be attracted by a lack of planning. There is no excuse to not create a plan with the wealth of information available on writing business plans and even business plan templates tailored to the hotel business sector.

4) Fundraising

Whether you buy an existing hotel, build one from scratch, or renovate a building into a hotel, you will need millions of dollars to invest. Assuming you do not have this money, you will need to seek bank loans and/or angel investment in your hotel. As you will be working with considerable assets, dependable and experienced legal and accounting help is a must as you create deals with investors.

5) Hospitality Mindset

Finally, you must have an ingrained sense of how you want your guests to be treated so that you can instill this mindset in your top management and they can, in turn, teach this to the staff. Staying at a hotel can be stressful and uncomfortable, and guests demand the highest attention to their needs or they will have no problem complaining loudly and publicly. If employees sense you have higher motives than customer satisfaction, customer service may fall by the wayside and your hotel business may fail or never take off in the first place.

The first step to starting a hotel is to develop your hotel business plan . Growthink provides products and services to help you develop a professional business plan and turn your dream into reality.

Where Can I Download a Hotel Business Plan PDF?

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

Additional Resources in the Hotel Market

For additional information on the hotel market, consider these industry resources:

• American Hotel & Lodging Association: ahla.com
• Hospitality Net: hospitalitynet.org
• Hotel Mavericks: www.hotelmavericks.com

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.

Click here to see how Growthink’s professional business plan consultants can create your business plan for you.

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Hotel Business Plan Sample

Jul.04, 2013

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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.

Business plan for investors

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.

Download Hotel Business Plan Sample in pdf

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2 thoughts on “ Hotel Business Plan Sample ”

i found this very helpful. thank you for sharing

Thank you for your comment. If you need assistance in writing your business plan please contact us by email: [email protected] or call us at USA +1-619-727-5304, UK +44-203-318-1069, Canada +1-613-699-7822, Australia +61-385-956-735.

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Boutique Hotel Business Plan PDF Example

• February 28, 2024
• Business Plan

Creating a comprehensive business plan is crucial for launching and running a successful boutique hotel. This plan serves as your roadmap, detailing your vision, operational strategies, and financial plan. It helps establish your boutique hotel’s identity, navigate the competitive market, and secure funding for growth.

This article not only breaks down the critical components of a boutique hotel business plan, but also provides an example of a business plan to help you craft your own.

Whether you’re an experienced entrepreneur or new to the real estate industry, this guide, complete with a business plan example, lays the groundwork for turning your boutique hotel concept into reality. Let’s dive in!

Our boutique hotel business plan is structured to cover all essential aspects needed for a comprehensive strategy. It outlines the hotel’s operations, marketing strategy , market environment, competitors, management team, and financial forecasts.

• Executive Summary : Provides a snapshot of your Boutique Hotel’s business concept, including market positioning, analysis, management team overview, and a summary of the financial strategy.
• Hotel & Location: Details the design, ambiance, and location benefits of the Boutique Hotel, highlighting its appeal to the targeted guest demographic.
• Rooms & Pricing : Lists the various types of accommodations and pricing strategies, emphasizing the value and experience offered to guests.
• Key Stats: Presents important statistics about the boutique hotel market’s size, growth trends, and customer demand.
• Key Trends: Discusses recent and emerging trends in the boutique hotel sector and how they influence consumer preferences and hotel operations.
• Key Competitors : Evaluates primary competitors, showcasing how your Boutique Hotel differentiates itself in terms of concept, services, and guest experiences.
• SWOT: Conducts a comprehensive analysis of the Strengths, Weaknesses, Opportunities, and Threats related to the Boutique Hotel.
• Marketing Plan : Outlines the marketing strategies and tactics planned to attract and retain guests, build brand loyalty, and increase market visibility.
• Timeline : Details significant milestones and goals for the Boutique Hotel from pre-launch through the first year of operations, including marketing initiatives and any special events.
• Management: Provides information about the management team overseeing the Boutique Hotel, detailing their roles, expertise, and how they contribute to the hotel’s success.
• Financial Plan: Projects the Boutique Hotel’s financial performance over the next five years, including revenue sources, profit margins, and anticipated expenses, offering a clear picture of financial expectations and investment potential.

Boutique Hotel Business Plan

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Executive Summary

The Executive Summary introduces your boutique hotel’s business plan, offering a succinct overview of your hotel and its offerings. It should detail your market positioning, the variety of accommodations and guest services you provide, its location, size, and an overview of daily operations. 

This section should also delve into how your boutique hotel will integrate into the local hospitality market, including the number of direct competitors within the area, identifying who they are, along with your hotel’s unique selling points that differentiate it from these competitors.

Furthermore, you should include information about the management and co-founding team, detailing their roles and contributions to the hotel’s success. Additionally, a summary of your financial projections, including revenue and profits over the next five years, should be presented here to provide a clear picture of your hotel’s financial plan.

Make sure to cover here _ Business Overview _ Market Overview _ Management Team _ Financial Plan

Dive deeper into Executive Summary

Business Overview

For a Boutique Hotel, the Business Overview section can be effectively divided into 2 main parts:

Hotel & Location

Briefly describe the boutique hotel’s physical setting, emphasizing its unique design, ambiance, and the exclusive experience it offers to guests. Mention the hotel’s location, highlighting its accessibility and the convenience it provides to guests, such as proximity to tourist attractions or ease of transportation. Explain why this location is strategically chosen to attract your target guests.

Rooms & Pricing

Detail the range of accommodations available, from standard rooms to luxury suites, each designed to cater to different guest preferences and needs. Outline your pricing strategy , ensuring it reflects the quality of accommodations and services provided and aligns with the market segment you’re targeting. Highlight any special packages, seasonal promotions, or loyalty programs that offer added value to your guests, encouraging repeat visits and fostering guest loyalty.

Make sure to cover here _ Hotel & Location _ Rooms & Pricing

Market Overview

Industry size & growth.

In the Market Overview of your boutique hotel business plan, begin by examining the size of the hospitality industry, specifically focusing on boutique hotels, and its growth potential. This analysis is crucial for understanding the market’s breadth and identifying opportunities for expansion.

Key market trends

Proceed to discuss recent market trends , such as the increasing consumer interest in unique, personalized lodging experiences, sustainable and eco-friendly practices, and the integration of local culture into the guest experience. For example, highlight the demand for accommodations that offer a more intimate, personalized experience compared to larger chain hotels, alongside the rising popularity of hotels that incorporate sustainable operations and local cultural elements.

Key competitors

Then, consider the competitive landscape, which includes a range of accommodations from luxury boutique hotels to budget-friendly inns, as well as alternative lodging options like vacation rentals. For example, emphasize what makes your boutique hotel distinctive, whether it’s through unparalleled guest services, a unique theme or design, or a strong connection to the local community and culture. This section will help articulate the demand for boutique hotel services, the competitive environment, and how your hotel is positioned to succeed within this dynamic market.

Make sure to cover here _ Industry size & growth _ Key market trends _ Key competitors

Dive deeper into Key competitors

First, conduct a SWOT analysis for the boutique hotel, highlighting Strengths (such as unique guest experiences and personalized services), Weaknesses (including high operational costs or dependency on tourism trends), Opportunities (for example, a growing demand for boutique and unique lodging experiences), and Threats (such as economic downturns that may reduce travel spending).

Marketing Plan

Next, develop a marketing strategy that outlines how to attract and retain guests through targeted advertising, promotional offers, a strong online presence, and community engagement. Consider leveraging the uniqueness of your hotel’s location, design, and services in your marketing efforts to distinguish your property from competitors.

Finally, create a detailed timeline that outlines critical milestones for the boutique hotel’s launch, marketing initiatives, guest base development, and expansion goals, ensuring the business progresses with clear direction and purpose.

Make sure to cover here _ SWOT _ Marketing Plan _ Timeline

Dive deeper into SWOT

Dive deeper into Marketing Plan

The Management section focuses on the boutique hotel’s management and their direct roles in daily operations and strategic direction. This part is crucial for understanding who is responsible for making key decisions and driving the boutique hotel towards its financial and operational goals.

For your boutique hotel business plan, list the core team members, their specific responsibilities, and how their expertise supports the business.

Financial Plan

The Financial Plan section is a comprehensive analysis of your financial projections for revenue, expenses, and profitability. It lays out your boutique hotel’s approach to securing funding, managing cash flow, and achieving breakeven.

This section typically includes detailed forecasts for the first 5 years of operation, highlighting expected revenue, operating costs and capital expenditures.

For your boutique hotel business plan, provide a snapshot of your financial statement (profit and loss, balance sheet, cash flow statement), as well as your key assumptions (e.g. number of customers and prices, expenses, etc.).

Make sure to cover here _ Profit and Loss _ Cash Flow Statement _ Balance Sheet _ Use of Funds

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15+ hotel business plan samples – pdf, word.

Hotels are one of the most lucrative businesses one can get into. They are especially profitable if the hotel business plan in question is located in a busy city or near a popular tourist destination. Being part of the hospitality industry, you will never run out of customers as long as your hotel is managed properly. To run your hotel plan profitability, you must have a proper business plan that will help you dance your worries away. We have various hotel business plan templates applicable for various related businesses and accommodations such as a startup mini hotel, guest house motel, 5 star resort lodge, 3 star spa, and boutique, etc. Keep scrolling!

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Free Start-up Boutique New Hotel Sample Business Plan

General FAQs

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.

• Executive summary
• 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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Business handbook template, sample startup plan template, sample hotel business plan template, resort hotel business plan template, hotel catering business plan template, luxury hotel business plan template, new start-up boutique hotel business plan template, lotus sea hot spring 5-star hotel business plan sample template, feasibility study and hotel business plan sample template.

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Hotel business plan template

Save hours writing your plan with our hotel business plan template and online financial forecasting software. You can also download as PDF or Word.

Discover our hotel business plan template

Our hotel business plan template gives you the structure to write a professional plan.

Not accustomed to writing business plans? Our hotel business template will turn a typically challenging process into a total breeze.

Modelled on a complete business plan of a hotel in France, our template features both the financial forecast and the written part that presents the project, its team, the local market and the business strategy implemented by the management.

Cast your eyes on this template to achieve a better understanding of what your bank and investors would like to see, so that you can create a business plan that meets their expectations.

7 day free trial. No credit card required. Hotel business plan template available with paid plans only.

How to use this hotel business plan template

Edit the hotel business plan template online, or download it.

There are 3 ways to use this template:

• Edit it online: you can adapt this template to your business idea by changing the text or the financial forecast directly in our business planning software
• Download in PDF: if you're just after a little inspiration, you can download the hotel business plan template in PDF to read over it
• Download in Word format: want to edit your plan on Word? Simply export the hotel business plan template to Ms Word (.docx) format

Hotel business plan template content

This template includes a complete hotel business plan example, with a financial forecast and the following sections:

• Executive summary: the executive summary gives the reader a clear and concise overview of your business idea
• Company: this section lays out the structure of your business, including its location, management team and legal form
• Products and services: here, you'll give an overview of the services offered by your hotel such as room rentals, meals and additional guest services
• Market analysis: the market analysis is where you’ll demonstrate that there is a strong demand for your products and services through a thorough assessment of the industry (customer profile, hot trends, regulation, competition, etc.)
• Strategy: this section highlights the company's game plan when it comes to pricing, marketing and mitigating risks along the way
• Operations: this step lays out the company's operational organisation, including the recruitment plan
• Financial plan: the financial plan includes a table of sources & uses (initial funding plan), and complete financial statements (P&L, balance sheet and cash flow statement).
• Appendices: this part provides the opportunity to include multiple financial appendices generated by our software (debt maturity profile, monthly financial statements, financial analysis, etc.).

Executive summary of the hotel's business plan

The executive summary gives the reader a clear and concise overview of your business idea.

Our hotel business plan example's executive summary is formed of the following subsections:

• Business overview: in this subsection, we outline who the hotel founders are, what legal form they've chosen for the business, and the rationale behind the choice of their location
• Market overview: in this subsection, we summarize the conclusions of the market analysis performed by the hotel's owners and explain who they might target (our hotel business plan template targets Pariseans, senior citizens and foreign tourists visiting the seaside resort of Cabourg)
• Financial highlights: in this subsection, we give an overview of the forecasted financial performance of the hotel over the first 3 years of operation
• Our ask: in this subsection, we outline the amount of financing required to start the hotel and how it's going to be funded (the founders are seeking a bank loan to start their hotel)

Company overview included in our hotel business plan sample

This section lays out the structure of your business, including its location, management team and legal form.

Our hotel business plan template's company section is formed of the following subsections:

• Structure & Ownership: in this subsection, we outline who the hotel shareholders are, what legal form they've chosen for the business
• Location: in this subsection, we present the area surrounding the location chosen for the business and the layout and main features of the premises
• Management Team: in this subsection, we give an overview of the background of each of the hotel's founders and explain how they met and why they decided to start a company together

Products and services offered by the hotel

The products and services section is where you will present the services offered by your hotel such as room rentals, meals and additional guest services sold by your hotel.

In our hotel business plan template products and services section, we cover:

• Room rentals: a selection of rooms to choose from for every budget
• Reception: 24- hour reception service
• Food and drink service: access to a food and drink service between 10 am to 6 pm as well as an all-you-can-eat breakfast buffet
• Shuttle service: access to a free shuttle service from the train stations or airports within Caen, Deauville-Trouville, or Lisieux for guests staying more than 4 nights
• Connectivity: access to free Wifi and television in the bedrooms

Market analysis for the opening of the hotel

The market analysis is where you’ll demonstrate that there is a strong demand for your products and services through a thorough assessment of the industry (customer profile, hot trends, regulation, competition, etc.)

Our hotel business plan example's market analysis section is formed of the following subsections:

• Demographics and Segmentation: in this subsection, we explore the market in depth. We look at the supply and demand sides both at the national and local level, analyse the hot trends perceived by the founders, and the key statistics that will help the founders build their positioning
• Target market: in this subsection, our founders explain who they view as their ideal customers (our hotel business plan template targets Pariseans, senior citizens and foreign tourists visiting the seaside resort of Cabourg)
• Competition: in this subsection, we take a look at the direct (independent or franchised hotels in downtown Cabourg and the surrounding towns) and indirect (other forms of accommodation such as holiday homes, guesthouses, airbnb) local competition to ensure we have a differentiated positioning and that the market is large enough to accommodate the arrival of a new hotel
• Regulation: in this subsection, we give an overview of the main regulation applicable to our hotel

Setting the strategy for our hotel

This section highlights the company's game plan when it comes to pricing, marketing and mitigating risks along the way.

Our hotel business plan template strategy section is formed of the following subsections:

• Pricing: in this subsection, we explain how we set the prices of our main categories of services (free shuttle service, wifi, all-you-can-eat breakfast buffet and food and drink service) as well as hotel rooms and the rationale behind our choice
• Marketing plan: in this subsection, we explain what action we'll put in place to build awareness and loyalty among hotel guests
• Milestones: in this subsection, we give an overview of the main goals we set for ourselves for the next 3 years
• Risks and Mittigants: in this subsection, we perform an assessment of the medium and long-term risks that could jeopardize the financial viability of our hotel and outline how we intend to mitigate them

Operations section of the hotel business plan template

This part lays out the company's operational organisation, including the recruitment plan.

Our hotel business plan example's operations section is formed of the following subsections:

• Personnel plan: in this subsection, we explain what our opening hours will be and explain the responsabilities of each of our hotel staff member
• Key assets and IP: in this subsection, we list the assets and intellectual property rights which are critical to our business operations and explain how we will secure and protect each of these
• Suppliers: in this subsection, we give an overview of the main suppliers we will use our what commercial terms have been negotiated with them

Financial plan included in our hotel business plan template

This section presents the expected financial performance of the hotel over the next 3 years.

Our hotel business plan example's financial plan is formed of the following subsections:

• Start-up funding: in this subsection, we list the cost of each item required to launch the hotel
• Important assumptions: in this subsection, we explain the methodology and the main assumptions used to build the hotel's financial forecast
• Sales forecast: in this subsection, we detail the expected revenues and growth rate for our hotel in the coming years
• Cost structure: in this subsection, we list all the expenses required for our hotel to operate smoothly
• Projected Profit & Loss statement: in this subsection, we analyse our forecasted P&L and comment on the expected profitability of our hotel over the next 3 years
• Projected cash flow statement: in this subsection, we analyse the expected cash generation of the hotel
• Projected balance sheet: in this section we give an analysis of the liquidity and solvability implied from our balance sheet

Appendices of the hotel business plan template

This part provides the opportunity to include multiple financial appendices generated by our software (debt maturity profile, monthly financial statements, financial analysis, etc.).

Our hotel business plan template's appendices include:

• A Maturity profile chart showing the principal repayments of their loans over the next 3 years
• A monthly cash flow forecast: showing how much cash is being generated or consumed each month over the first 3 years of operations

Hotel business plan template sample

Executive summary, business overview.

The Hotel Le Cardinal will be an independent hotel aimed primarily at tourists visiting the seaside resort of Cabourg.

The hotel is located in a 1920's building, on a street in downtown Cabourg and close to the resort's main attractions.

The building will be completely renovated and equipped to receive a 3-star rating. The hotel will have a capacity of 20 rooms that can accommodate 38 people, as well as a private car park with 17 spaces.

The legal structure chosen is that of a limited liability company. The company will be managed by 2 veterans of the hotel industry: Mr Romain D. (50% of the shares) and Mr Damien S. (50% of the shares).

Romain has worked in the commercial division of one of Europe's leading hotel chains for 10 years, whilst Damien, who has spent the last 5 years managing a hotel in Caen, has over 15 years of experience working in the operational aspects of the hotel trade.

Market Overview

Domestic Market

On average, the French hotel sector reaches annual revenues of €15.8 billion, €12 billion of which concerns independent leisure and corporate travel.

One fundamental trend affecting the hotel market is the rising importance of the Internet, with a study carried out by the firm Coach Omnium in 2012 estimating that up to 93% of hotel customers search for their hotels online.

According to a Phocuswright study from 2013, we can estimate that the typical breakdown of hotel reservations in 2015 is as follows:

• 66% of direct reservations (at the front desk of a hotel or over the phone)
• 24% of online reservations via an online travel agency (these websites generally take a commission of between 10-30% of the room rate, including taxes)
• 10% of online reservations via the hotel's website

Target Market

We have identified the following customer segments:

• Parisians: couples, groups of friends, and families wishing to escape from the capital and enjoy the charms of the seaside resort for short (weekends) or medium-length stays (school holiday periods), thanks to easy accessibility of the resort by train or car.
• Seniors: retirees who have more time than working people and a budget that allows them to travel more often, especially during the off-season.
• Foreigners: groups and families of Europeans wishing to visit the region, especially the sites of the 1944 landing.

Financial Highlights

We expect the company to be profitable in its first year of operation. We expect to achieve a turnover of €424,115 and EBITDA of €48,721 in the first year and a turnover of €476,531 and EBITDA of €93,385 in years 2 and 3.

Based on the current plan, the EBITDA margin is expected to be 11.49% of sales in year 1, and we believe that the improved hotel occupancy in subsequent years will enable us to achieve an EBITDA margin of 19.60% in years 2 and 3.

The business should be sufficiently capitalized to allow us to meet our loan repayments while maintaining sufficient liquidity to meet any contingencies and keep the hotel in good condition.

The objective of this business plan is to obtain bank financing of €200,000 to finance part of the renovation work and the purchase of equipment necessary for the opening of the hotel.

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Quite frankly excellent because I was able to finalize my business plan in less time than expected. This software offers a very coherent and complete approach to writing your project.

It is a very well designed software that allows you to visualise each step of your project, understand if the idea is viable or not and think about the steps needed to start your business.

The software is just impeccable. Of course, it meets the requirements of people starting a business. In addition to having a tool for putting together a proper financial forecast, there is also a tool to help write the business plan.

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Hotel business plan template faq.

A hotel business plan is a written document that sets out the commercial, operational and financial objectives of the company over the next 3 to 5 years.

It consists of two main parts:

• A written part that presents, in detail, your hotel business, the team, your strategy, and your medium-term objectives.
• A financial forecast that highlights the expected profitability of the hotel and the initial funding requirements.

The lack of business planning is one of the main reasons why more than 50% of startups fail within 5 years. If you're starting a hotel, writing a business plan is a must-have in order to reduce the risk of failure of your project.

Business plans are also required by most lenders and investors in order to secure financing, therefore a business plan is also highly recommended if you're seeking a loan or equity investment for your hotel.

Writing a hotel business plan without The Business Plan Shop can be both error-prone and time-consuming - whether you're new to entrepreneurship or experienced:

• You'll need to research the structure of a business plan, what to include in each section, and what key elements investors and lenders expect to see
• You may encounter writer's block (especially if it's the first time you're writing a business plan for your hotel)
• You'll need to create a financial forecast on a spreadsheet which requires a solid understanding of accounting and financial modelling in order to be done without error
• You'll need to spend hours formatting financial data on Excel or Sheets before it's ready to integrate into your business plan
• Any updates to your hotel business plan or financial forecast will need to be done manually

Luckily for you, The Business Plan Shop's online platform and hotel business plan template guide you through every stage of writing a business plan, so that you can spend more time managing and growing your business instead.

Our editor follows a best-in-class structure for professional business plans. Each section and subsection includes examples and instructions to help you, while our business plan templates provide further inspiration if you're stuck.

Our financial forecasting software helps you create a forecast and integrate it into your business plan with ease. Anytime you update your data, your business plan automatically updates.

And with our forecasting software all the calculations are done for you, without errors.

The budget to start and run a hotel will depend on the exact concept and location.

A small boutique hotel in an inexpensive neighbourhood and fewer rooms will require limited investment. A bigger hotel with more rooms, restaurants and more services for guests will require a larger upfront investment and more staff to operate.

As an example, in our hotel business plan template the total initial funding requirement amounted to €270,000 (c. $289,000 or £232,750), with the founders contributing €170,000 (c. $182,000 or £146,550).

In order to assess the exact budget for your hotel idea, you need to do a financial forecast using a financial projection tool such as the one we offer .

The package we offer at The Business Plan Shop goes way beyond a simple blank template you need to fill. With our platform you get:

• Access to one of the best business plan software on the market
• Access to our hotel business plan template which contains a complete example of a written business plan and financial forecast to start a hotel
• Access to our entire business plan templates library - giving you dozens of examples to take inspiration from
• Access to our financial planning and analysis platform so that you can track the actual performance of your business against what you had planned in your business plan and re-plan easily

But you shouldn't take our word for it: try our solution for free and make your own opinion!

The free trial enables you to try the software for free during 7 days in order to verify that it meets your requirements before buying.

Some features are limited during the free trial, the main limits are:

• You can only create one business plan
• The financials of the first year are visible, but data for other years are hidden
• You can export your plan in PDF but not in Word or CSV
• No access to our business plan templates

You can create your account and start your free trial here .

Access to our template is included with all our paid subscriptions.

Please visit our pricing page to learn about this in more detail.

Other business plan templates and resources to discover

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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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.

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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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Resort Business Plan

High demand for luxury & recreational activities, and a recurring revenue model make starting a resort business a lucrative and rewarding profession.

Anyone can start a new business, but you need a detailed business plan when it comes to raising funding, applying for loans, and scaling it like a pro!

Need help writing a business plan for your resort business? You’re at the right place. Our resort business plan template will help you get started.

Free Business Plan Template

Download our free business plan template now and pave the way to success. Let’s turn your vision into an actionable strategy!

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How to Write A Resort Business Plan?

Writing a resort business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:

1. Executive Summary

An executive summary is the first section planned to offer an overview of the entire business plan. However, it is written after the entire business plan is ready and summarizes each section of your plan.

Here are a few key components to include in your executive summary:

Introduce your Business:

Start your executive summary by briefly introducing your business to your readers.

Market Opportunity:

Facilities:.

Highlight the resort facilities you offer your clients. The USPs and differentiators you offer are always a plus.

Marketing & Sales Strategies:

Financial highlights:, call to action:.

Ensure your executive summary is clear, concise, easy to understand, and jargon-free.

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2. Business Overview

The business overview section of your business plan offers detailed information about your business. The details you add will depend on how important they are to your business. Yet, business name, location, business history, and future goals are some of the foundational elements you must consider adding to this section:

Business Description:

Describe your business in this section by providing all the basic information:

Describe what kind of resort you run and the name of it. You may specialize in one of the following resort businesses:

• Beach resorts
• Spa resorts
• Golf resorts
• Mountain resorts
• Eco resorts
• Ski resorts
• Luxury resorts
• Describe the legal structure of your resort, whether it is a sole proprietorship, LLC, partnership, or others.
• Explain where your business is located and why you selected the place.

Mission Statement:

Business history:.

If you’re an established resort, briefly describe your business history, like—when it was founded, how it evolved over time, etc.

Additionally, If you have received any awards or recognition for excellent work, describe them.

Future Goals

This section should provide a thorough understanding of your business, its history, and its future plans. Keep this section engaging, precise, and to the point.

3. Market Analysis

The market analysis section of your business plan should offer a thorough understanding of the industry with the target market, competitors, and growth opportunities. You should include the following components in this section.

Target market:

Start this section by describing your target market. Define your ideal customer and explain what types of services they prefer. Creating a buyer persona will help you easily define your target market to your readers.

Market size and growth potential:

Describe your market size and growth potential and whether you will target a niche or a much broader market.

Competitive Analysis:

Market trends:.

Analyze emerging trends in the industry, such as technology disruptions, changes in customer behavior or preferences, etc. Explain how your business will cope with all the trends.

Regulatory Environment:

Here are a few tips for writing the market analysis section of your resort business plan:

• Conduct market research, industry reports, and surveys to gather data.
• Provide specific and detailed information whenever possible.
• Illustrate your points with charts and graphs.
• Write your business plan keeping your target audience in mind.

4. Resort Services & Facilities

The product and services section should describe the specific services and products that will be offered to customers. To write this section should include the following:

Describe all amenities & facilities:

Mention the resort facilities your business will offer. This list may include:

• Accommodation
• Recreational activities
• Spa and wellness
• Entertainment zone
• Event and conference facilities
• Swimming pool
• Tennis court

Describe each facility:

Provide a detailed description of each facility you provide, the types of that facility, and everything about it.

Quality Measures

: This section should explain how you maintain quality standards and consistently provide the highest quality service.

This may include quality assurance audits, standard operating procedures, regular maintenance & upkeep, hygiene & cleanliness standards, etc.

Additional Services

In short, this section of your resort plan must be informative, precise, and client-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.

5. Sales And Marketing Strategies

Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing plan:

Unique Selling Proposition (USP):

Define your business’s USPs depending on the market you serve, the equipment you use, and the unique services you provide. Identifying USPs will help you plan your marketing strategies.

Pricing Strategy:

Marketing strategies:, sales strategies:, customer retention:.

Overall, this section of your resort business plan should focus on customer acquisition and retention.

Have a specific, realistic, and data-driven approach while planning sales and marketing strategies for your resort business, and be prepared to adapt or make strategic changes in your strategies based on feedback and results.

6. Operations Plan

The operations plan section of your business plan should outline the processes and procedures involved in your business operations, such as staffing requirements and operational processes. Here are a few components to add to your operations plan:

Staffing & Training:

Operational process:, equipment & machinery:.

Include the list of equipment and machinery required for the resort, such as recreational activities equipment, spa & wellness equipment, vehicles, etc.

Adding these components to your operations plan will help you lay out your business operations, which will eventually help you manage your business effectively.

7. Management Team

The management team section overviews your resort business’s management team. This section should provide a detailed description of each manager’s experience and qualifications, as well as their responsibilities and roles.

Founders/CEO:

Key managers:.

Introduce your management and key members of your team, and explain their roles and responsibilities.

Organizational structure:

Compensation plan:, advisors/consultants:.

Mentioning advisors or consultants in your business plans adds credibility to your business idea.

This section should describe the key personnel for your resort services, highlighting how you have the perfect team to succeed.

8. Financial Plan

Your financial plan section should provide a summary of your business’s financial projections for the first few years. Here are some key elements to include in your financial plan:

Profit & loss statement:

Cash flow statement:, balance sheet:, break-even point:.

Determine and mention your business’s break-even point—the point at which your business costs and revenue will be equal.

Financing Needs:

Be realistic with your financial projections, and make sure you offer relevant information and evidence to support your estimates.

9. Appendix

The appendix section of your plan should include any additional information supporting your business plan’s main content, such as market research, legal documentation, financial statements, and other relevant information.

• Add a table of contents for the appendix section to help readers easily find specific information or sections.
• In addition to your financial statements, provide additional financial documents like tax returns, a list of assets within the business, credit history, and more. These statements must be the latest and offer financial projections for at least the first three or five years of business operations.
• Provide data derived from market research, including stats about the resort, user demographics, and industry trends.
• Include any legal documents such as permits, licenses, and contracts.
• Include any additional documentation related to your business plan, such as product brochures, marketing materials, operational procedures, etc.

Use clear headings and labels for each section of the appendix so that readers can easily find the necessary information.

Remember, the appendix section of your hotel resort business plan should only include relevant and essential information supporting your plan’s main content.

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

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

This sample resort business plan will provide an idea for writing a successful resort plan, including all the essential components of your business.

After this, if you still need clarification about writing an investment-ready business plan to impress your audience, download our resort business plan pdf .

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Essentials of Writing a Business Plan

Frequently asked questions, why do you need a resort business plan.

A business plan is an essential tool for anyone looking to start or run a successful resort business. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your business.

Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your resort.

How to get funding for your resort business?

There are several ways to get funding for your resort business, but self-funding is one of the most efficient and speedy funding options. Other options for funding are:

• Bank loan – You may apply for a loan in government or private banks.
• Small Business Administration (SBA) loan – SBA loans and schemes are available at affordable interest rates, so check the eligibility criteria before applying for it.
• Crowdfunding – The process of supporting a project or business by getting a lot of people to invest in your business, usually online.
• Angel investors – Getting funds from angel investors is one of the most sought startup options.

Apart from all these options, there are small business grants available, check for the same in your location and you can apply for it.

Where to find business plan writers for your resort business?

There are many business plan writers available, but no one knows your business and ideas better than you, so we recommend you write your resort business plan and outline your vision as you have in your mind.

What is the easiest way to write your resort business plan?

A lot of research is necessary for writing a business plan, but you can write your plan most efficiently with the help of any resort business plan example and edit it as per your need. You can also quickly finish your plan in just a few hours or less with the help of our business plan software .

How do I write a good market analysis in a resort business plan?

Market analysis is one of the key components of your business plan that requires deep research and a thorough understanding of your industry.

We can categorize the process of writing a good market analysis section into the following steps:

• Stating the objective of your market analysis—e.g., investor funding.
• Industry study—market size, growth potential, market trends, etc.
• Identifying target market—based on user behavior and demographics.
• Analyzing direct and indirect competitors.
• Calculating market share—understanding TAM, SAM, and SOM.
• Knowing regulations and restrictions
• Organizing data and writing the first draft.

Writing a marketing analysis section can be overwhelming, but using ChatGPT for market research can make things easier.

How detailed should the financial projections be in my resort business plan?

The level of detail of the financial projections of your resort business may vary considering various business aspects like direct and indirect competition, pricing, and operational efficiency. However, your financial projections must be comprehensive enough to demonstrate a comprehensive view of your financial performance.

Generally, the statements included in a business plan offer financial projections for at least the first three or five years of business operations.

What key components should a resort business plan include?

The following are the key components your resort business plan must include:

• Executive summary
• Business Overview
• Market Analysis
• Products and services
• Sales and marketing strategies
• Operations plan
• Management team
• Financial plan

Can a good resort business plan help me secure funding?

Indeed. A well-crafted resort business will help your investors better understand your business domain, market trends, strategies, business financials, and growth potential—helping them make better financial decisions.

So, if you have a profitable and investable business, a comprehensive business plan can help you secure your business funding.

What's the importance of a marketing strategy in a resort business plan?

Marketing strategy is a key component of your resort business plan. Whether it is about achieving certain business goals or helping your investors understand your plan to maximize their return on investment—an impactful marketing strategy is the way to do it!

Here are a few pointers to help you understand the importance of having an impactful marketing strategy:

• It provides your business an edge over your competitors.
• It helps investors better understand your business and growth potential.
• It helps you develop products with the best profit potential.
• It helps you set accurate pricing for your products or services.

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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