small 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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Hotel Business Plan

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

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

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

Need help writing your plan in order?

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

Sounds good? Let’s dive right in!

What Is a Hotel Business Plan?

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

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

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

Why You Need a Business Plan for Your Hotel?

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

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

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

Define your goals

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

Manage finances better

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

Get funding from investors or banks

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

Know your competitors & customers

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

Identify potential risks

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

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

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

Key Components of a Hotel Business Plan

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

1. Executive Summary

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

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

In your executive summary, consider including the following details:

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

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

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2. Company Overview

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

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

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

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

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

3. Market Analysis

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

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

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

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

4. Competitive Analysis

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

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

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

5. Service Offerings

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

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

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

6. Sales and Marketing Strategies

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

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

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

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

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

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

7. Management Team

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

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

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

8. Operations Plan

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

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

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

9. Financial Plan

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

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

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

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

10. Appendix

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

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

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

Download Free Hotel Business Plan Template

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

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

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

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

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Guide to Making a Business Plan Presentation

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

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

What marketing strategies are effective for a new hotel?

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

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

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

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

What tips can help secure funding for a hotel business?

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

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

About the Author

Upmetrics Team

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

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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.  

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Hotel Business Plan

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

Why do I need a hotel business plan?

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

Included in this business plan are templates for: 

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

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

What is hotel revenue management the beginner’s guide.

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Boutique Hotel Business Plan Blueprint: Complete Guide

• January 3, 2023
• Hospitality

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

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

1. Boutique Hotel Executive Summary

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

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

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

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

How to write your boutique hotel’s executive summary?

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

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

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

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

Hotel Financial Model

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

2. Boutique Hotel Business Overview

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

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

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

a) History of the Project

Any business must have two components:

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

Passion & experience

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

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

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

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

b) Hotel Concept

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

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

c) Services & Facilities 

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

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

Boutique Hotel Services 

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

Boutique Hotel Facilities 

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

d) Room Rates

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

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

e) Legal Structure

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

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

3. Boutique Hotel Market Overview

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

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

a) Boutique Hotel Industry Size & Growth

How big is the boutique hotel industry in the us.

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

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

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

How big is the boutique hotel industry in your area?

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

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

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

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

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

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

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

b) Competition Overview 

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

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

Here is a sample table that you can use:

c) Customer Analysis

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

You can narrow it down with the following questions:

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

4. Sales & Marketing Strategy

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

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

What marketing channels do boutique hotels use?

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

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

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

What are your Unique Selling Points (USPs)?

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

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

5. Management & People

You must address 2 things here:

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

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

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

Organization Structure

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

6. Financial Plan

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

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

There should be 2 sections to your financial plan section:

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

a) Startup Costs

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

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

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

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

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

b) Financial Projections

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

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

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

Your financial projections should answer at least the following questions:

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

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

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

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

7. Use of Funds

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

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

If you raise debt:

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

If you raise equity

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

Use of Funds

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

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

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

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Revenue Management

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• About Xotels

How to Start a Hotel Business

For many people, it is a dream to open their own boutique hotel or luxury bed and breakfast, but the big question is how to start a hotel business? Opening a boutique hotel business , just like any new company, is more difficult than it might seem at first sight.

Particularly if you have never worked in the international hotel industry, you will be faced with many things you might have not considered or imagined before. The hotel business is highly competitive and achieving good financial results is not as easy as it seems.

In my experience at XOTELS – Hotel Revenue Management Consulting in dealing with entrepreneurs and investors, I have found that there is no shortage of creative ideas for innovative hotel concepts. The challenge, however, lies more in the strategic and organizational areas of the business.

The Hotel Dream… Where it all Starts

Where to get started with opening your own hotel? What kind of hotel should it be? How does location influence my business? How to attract guests? How to control operational costs and run a profitable business? These are all crucial questions that should be dealt with prior to getting into the business.

In this article, we will discuss tips on starting your own hotel:

• What it takes to be a Hotel Manager – Skillset

Experience Vs No Experience

Strategy & execution.

• Hotel Market Size and Opportunities

Hotel Segment Opportunities

External factors in the hotel industry.

• Independent vs Franchise
• 11 Steps for Starting a Boutique Hotel
• Opening a Hotel Business From Start to Finish

What it Takes to be a Hotel Manager – The Skillset

The stereotype is clear: many hours of hard work when everybody else is off…

Everything is true, and even more when you’re in charge of a hotel. So, why might anyone want to open a new hotel? There is only one answer to this question: it is because we love it. It is definitely one of the most rewarding jobs when it comes creating moments that will make people happy.

What does this mean for someone who wants to open a hotel? Although you might not be in direct contact with guests for most of the time (depending on the type hotel you choose), there are certain personality traits that will help you open a hotel business. We consider the following characteristics to be of great help:

• Guest first mentality & proactiveness, meaning always thinking of how the guest feels around your hotel and what can be done about it to improve their experience. Either taking action (according to feedback or your own observance) before service failure occurs will greatly improve guest satisfaction and therefore resulting in higher review scores.
• Open minded to feedback. Becoming a great hotel does not happen overnight. Adapting and evolving according to feedback comes before everything else in this process. Guests can always bring out points of improvement, and acting on it will definitely put you ahead of the game. Just think how many times you have been able to make suggestions to hotel staff/owners, making the real question how effectively you will be dealing with the comments.
• Proactive, taking actions proactively will prevent your hotel and staff performance from getting sidetracked. Of course, following KPIs (key performance indicators) will give you some degree of insight, but stepping beyond and letting your creativity help drive revenue and guest experience will enable your hotel to be successful.
• Perseverance. Hospitality is not always the easiest industry to work in, especially when times get though. However, with the right amount of perseverance you will be able to pull through and enjoy the fruits of your labor.
• Multi-tasking. Being a jack of all trades and a good multitasker definitely helps in following the many different processes happening around the hotel. One second you might be doing administrative work – the other – helping out with housekeeping getting rooms ready for the next arrivals.
• Communication, being able to communicate your goals and how the hotel is performing is crucial to the development of your business. Involving your staff with the right communication puts everyone on the same page: the one for success.

Having hospitality experience prior to opening a hotel can definitely put you a step ahead. The speed and effectiveness with which you will build your concept will likely coincide with the level of your industry know-how. Below we will give you some examples of where you might face challenges.

Skill Sets Explained

General knowledge.

Knowing the service standards might be the most important of general hospitality knowledge. Without this knowledge, it will be difficult to maintain standards and motivate staff to improve their overall performance.

Room Division Experience

Running front of the house can be challenging even for the more seasoned hospitality professionals mainly due to the myriad of processes running all at the same time. Other issues can occur with the alignment of services between other departments such as F&B.

F&B Experience

If you do not have any prior experience in developing and running the F&B side of a hotel, we advise you to be careful with extensive F&B concepts, avoiding risks such as:

• Etiquettes can certainly be learned, but often work differently in practice. Learning what works well and what can be applied can be quite tricky.
• Food and service standards. Running a professional kitchen is totally different from anything you might have seen before. Putting out quality food requires well thought through menus and efficient workflows to ensure speed of service is maintained whilst delivering quality dishes.
• Purchasing, maintaining consistent food quality while keeping food-cost low will be challenging without prior knowledge of handling, preparation, and storage of food in a professional kitchen.
• Concept development covers not only how your hotel will look like, but also how services and facilities align with the operational logistics in the hotel. Making any mistakes here could cost you money, time and loss of operational efficiency.

Revenue Management Experience

Essential to any hotel opening is a solid revenue management strategy. At the core of any successful pre-opening phase are well-thought-through elements of product pricing and positioning such as:

• Room type strategy (e.g. supplement strategy, promoting differentiation between rooms)
• Distribution (e.g. contracting online travel agents, channel mapping in your PMS)
• Competitive positioning (how do you competitively price yourself in the market, evaluating your value-add and weighing it against your competitors)
• Promotions (when and what kind of promotions will you run, including negotiation and contracting of partners)

Consider if you are capable of developing and executing revenue management strategies and operations. Missing any of the above elements of managing revenue will guarantee a loss of revenue opportunities directly impacting your cash flow.

Marketing Experience

Coming up with a marketing strategy might look simple, but coming up with something exceptional is a different story. If you do not have the needed experience you might lack essential points in your marketing plan causing a significant loss of business opportunity . Also, do you have your planning front of mind? Launching a new hotel requires some serious time to plan, with particular activities that should be on the way one or two years ahead of the opening date, such as the website and distribution contracting.

Any of the above gaps in experience can be filled in by outsourcing the development and support of hotel opening and management services. The most important is to understand exactly where you might be lacking background knowledge to reach a solid business plan and execution.

What Does It Take To Open a Hotel Business?

Becoming a great hotel goes beyond just offering great facilities and service. Everything needs to be aimed towards providing guests something special and creating unique experiences.

How to Start a Hotel Business? 5 Steps for Success

First, it is important to settle on the points you really want to stand out. Here it is all about the quality and differentiation of your facilities, staff and service, technological features, and more…

Following the below steps will help you settle on your decision.

Customer Centered Services

Guests crave unique experiences and expectations keep on rising. Offerings should facilitate customer experiences helping you to stand out from the crowd. Think ahead what features and activities can be implemented to excel in your service delivery. Great moments to interact with guests can be simple, such as time for guests to enjoy a complimentary drink and snack on the house.

Another point to consider is how you will be personalizing the way your services are delivered and products are presented through marketing. Customer loyalty is dependent on the way products are marketed towards customers’ needs, with 25% of consumers (Netimperative) indicating to be more loyal to a travel brand that shows an understanding of their needs through marketing.

This is equally important to how services delivery takes place, as customers are open to switching to their choice if they find services better catering to their needs (80% of consumers, Qubit).

We cover this further in our hotel trends article diving deeper into personalization in hospitality.

Tailoring your facilities to the needs and wants of your target group will be essential. A great example of this are business travellers, who require work related amenities to get their job done. Aim to apply the same thought process behind how your hotel’s public areas and rooms can be decked out with essential features ready to be marketed towards this segment.

Where you choose to locate your property has proven to be critical in the way your hotel can be positioned in the market, and how guests can be drawn to book your hotel. Exactly what will be driving your demand?

• Area features: bars, restaurants, shopping districts
• Transportation: connectivity to any major traffic arteries, train stations, airports, subway stations, bicycle routes etc.
• Other demand generators: proximity to a business area, tourist attractions, industrial park, universities

Besides demand driving factors, you should think about:

• How does the location fit your concept / does it complement your idea of what the hotel should radiate to your target audience
• Can I add something new to the market in this location – or – is there already a similar concept next door

Learn everything you need to know on this topic in our article about hotel site selection .

Maximize Your Hotel Revenue

Uncover the hidden revenue potential of your hotel or resort.

Many hoteliers underestimate how much planning and thought should be going into your hotel opening. Making sure you have planned enough time to think everything through, covering every single thing you can possibly think of will give you a competitive advantage.

Developing Your Concept and Design

Coming up with an idea solely relying on your instinct and personal design preference would be a mistake. So what should you consider?

Hotel Market Size & Opportunities

Despite it being a tough year for the hospitality industry, hotel project development and openings continue to unfold all across the globe, with stunning 775 hotels and 147,316 rooms planned to open for the second half of 2020 ( Tophotelprojects, 2020 ).

Opportunities will always continue to linger around the corner. Not knowing when we recover might be a difficult variable to consider, but we know recovery lies somewhere around the road ahead. Considering the significant amount of time it takes to open a hotel, and emerging opportunities due to Covid-19, we think it is still the right time to open a new hotel.

When it comes to favourable circumstances, we could definitely name a few:

• More room in the job market, making it easier to procure qualified staff. Something that before the crises could not be taking for granted
• Closures of competition, sadly, many hotels businesses have had to pull the plug. This means less competition in a market which was previously getting highly competitive in specific markets.
• Subsequently, this means there are real estate deals out there, ready to be picked up for new hotels to step in

Much can be gained when diving thoroughly into opportunities that segmentation provides. Be as specific as possible. You should really want to be aware of which hotel market segments can drive revenue in fine detail as far ahead of opening as possible. With this knowledge, you can focus marketing and sales efforts specifically towards these segments. Without any understanding of these groups, it will be hard to create appealing offers.

With proper hotel segmentation you will be able to:

• Increase attractability across each segment with a focussed approach and initiatives for each group
• Measuring per segment leads to more actionable insights
• More historic data will be available for trend analysis in the future

Hospitality is typically one of the first industries to be impacted by macro economic factors. Considering how the following external factors could be affecting the market is therefore vital:

• Domestic travel, whether larger or smaller markets, domestic travel can contribute highly to your performance. Keep an eye on how your market is performing by looking into pulling data from your municipality as well as market data that can be provided by OTAs .
• The same applies to Non-domestic travel. Be aware of your largest feeder markets/countries of which you will be relying on.
• GDP, historically, hotel demand and GDP go hand in hand showing a strong correlation between the two metrics.
• Consumer Confidence Index, describes the optimism on the economy expressed through activities of savings and spending by consumers.

The best places to find travel statistics are your municipality/regional databases as well as OTAs, which also have an abundance of data at their disposal when it comes to feeder markets.

Independent Hotels vs Franchised Hotels

Perhaps one of the biggest questions to be answered..

We believe in the power of independent hotels, more freedom to create a hotel to your liking, less restrictions, and far lower cost not having to pay to the franchise owner.

Still considering to go for a franchise? Be prepared to add the following fees to your budget:

• Initial fee
• Royalty fees
• Marketing fee
• Sales reservation fees
• Loyalty / frequent traveller programs fees
• Miscellaneous fees

Streamline Your Hotel Operations

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

Pulling Everything Together: The Hotel Business Plan

Here is a short list of how your hotel business plan should look like. If you would like a more detailed checklist, be sure to check out our free hotel business plan template .

1. Executive summary

This part should include two main parts, one being the mission statement, and the other are your objectives. Keep this part short, concise and grab the attention of the reader.

2. Company Analysis

This is the part where you dive deeper into your company’s USPs (unique selling points). Basically, explaining what the concept entails.

3. Industry Analysis

Investors want to know if you properly understand the market you are going to operate in. This also forms the foundation of which trends and developments you will be building your brand on.

4. Customer Analysis

This part focuses on breaking down your target market. Think of factors such as:

• Geographics
• Demographics
• Socio-economics
• Psycho-graphics
• Behavioral segmentation

Imagine the type of guests which will be likely to visit your hotel. Painting a picture of guest types will give you the insight needed to evaluate how value can be provided to your customers.

5. Competitive Analysis

Of course, studying local competition is essential to highlight your strengths and weaknesses, as well as weighing those of the competition against your own. This can also be defined as a SWOT analysis, which investors use to see how you differentiate and stand out from the crowd.

6. Strategic Plan

The strategic plan consists of three important parts covering marketing, distribution and revenue management. Further down we have listed a time-based planning covering these topics.

7. Operations Plan

This is all about the details when it comes to running your operations smoothly. Do not make the mistake of not diving deep enough here, so make sure to include the following:

• Staff, anyone from lower level staff to managers should all be quantified.
• Operating processes, how/when/what you will be developing manuals for. Make sure to set your service standards.
• Suppliers, which/and what will you be needing suppliers for (linnen, food, drinks, office supplies etc.)
• How will your inventory be managed?

8. Management Team

Who will be running your business, and what makes them unique and capable of creating a great hotel that stands out. Explain your team’s backgrounds will give insight into this.

9. Financial Plan

How much money will be needed to fulfill your needs. Start with the capital investment (start-up costs of the hotel), followed by ongoing business costs and operational expenses:

• Rent and Utilities
• Other Expenses (franchise fees, marketing expenses, maintenance costs etc.)

10. Key Milestones

Setting milestones will increase the likelihood of success. The risk for lenders or investors decreases each time a milestone is achieved, reaching high chances of success once the last milestones are in sight. Important milestones include:

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

11. Appendix

All other content less relevant to getting your important message across belongs in the appendix. Try keeping your plan as concise and straight to the point as possible, referring to the appendix when needed to avoid an over cluttered appearance to the investors.

Do not be Too Late: Start on Time

Beginning on time is not only essential to your success, but it can save you a lot of money. Consider the below timeframes to give you an idea of when to start your business processes.

The Planning: From Start to Finish

0-1 months:.

Grand Opening:

• Do not put your entire marketing budget in the grand opening. This is just one day, and it will be impossible to reach enough potential business to fill your hotel in the long run. View marketing as a constant long term effort instead.

Soft opening:

• Final finetuning and testing for the staff and systems before official opening Great opportunity to take press and industry bloggers on a tour of the hotel without the burden of operational pressure of a full hotel. Reporters really appreciate all the help you can give them with preparing a story on this new hotspot in town. Invite corporate decision makers to test the hotel. Treat them like VIP’s. Wine and dine them, and turn them into ambassadors of your business. Impressing them with an unforgettable experience will start spreading word-of-mouth for you.

Open for sales on your own website and OTAs etc.

Reservations:

• Prior to this it is possible to have staff taking inquiry and answering questions with scheduled callbacks at a later stage once everything is organized. However, from 3 months prior to the opening the reservations call center needs to be up and running.

System selection

• MS, Web Booking Engine, CRS, GDS, Channel Manager, Rate Shopper, CRM. These all need to be selected, purchased and installed between 6 to 3 months prior to the opening.
• Schedule visits daily with decision makers of companies from 9 months prior to the opening trying to win them over from the competition.

Website live

• Websites page/history is a strong factor in ranking on google, so launching your website as earlier as possible would be the best. This will also ensure your website is properly indexed on search engines

• Preferably, 18 months prior, but certainly no later than 12 months prior to the opening. Even if it is with temporary images and content.
• This might be the point where most hotel owners miss the boat when it comes to maximizing their potential. It starts to get complicated when thinking about using different pricing techniques (covering both opening prices as well as long term rates) across multiple scenarios and room types, as well as setting your mind on payment and cancellation policies.
• Budgets, forecasts, rate strategy, room type strategy, packages, distribution strategy (covering everything from direct sales to promotions)
• Choosing here to outsource revenue management can bring a strategic advantage, both when establishing your business plan and the execution of your plans.

Distribution

• Eventually your rooms will have to be sold somewhere right? Which 3rd party distribution partners will you contract, and what technology will be necessary to facilitate all this.
• On the marketing side, questions such as how you will be attracting customers, how you will be positioning your hotel, what message will be delivered across different segments, and how your website will be planned out when it comes to SEO, SEM, SMM, social media, and blogging. Having the right strategies will help driving direct sales to your hotel
• Sales strategy should be ready to set into action. Think of tools, templates and how you will be executing visits and follow-ups.
• We tend to overestimate how easy it is to find a good management team. Experience has taught owners opening hotels it is not. Moreover finding a highly qualified pre-opening team that has develop, implement and execute your strategies is even more difficult. You will need to start recruiting this team 2 years before the opening to be able to find the right people for the job, and have them start in time.
• Be precise in what their responsibilities are and where they overlap with other departments. Considering the needed experience here is important as well, since it will help make the staff budget and hiring process. Lastly, make a planning according to your pre-opening phases to decide on when everyone should start (think as far ahead as possible).

Promotion/PR

• ‘Coming soon’ Put up a big sign ‘Coming soon’ with some breathtaking images of what you are building to attract the attention of people walking and driving by. This should start the day the first construction is initiated.
• Local media, keep them in the loop on developments (even let them visit your construction site)
• Regular press releases up until the opening (construction progress, interesting anecdotes, mission statements, sneakpeaks from the rooms etc.). Combine everything in a well curated social media that attracts attention. Make anyone feel the need to follow how the final product will look like.

Financial Plan

• Covering this will be the revenue projections for the next five years. Important metrics to follow are your expected occupancy rates, ADR (average daily rate) and RevPAR (revenue per available room). This should give you the outline of how much money will need to be raised, giving you the start of how much will need to be raised (internally or externally) and when you will be needing it (investors need to know when lenders will get paid as well to secure their own return on investment).

Interested in Taking Your Plans to the Next Level?

Think you are ready? Below we have linked to more of our articles providing all the knowledge you need to take your plans to the next level!

• Hotel Business Plan
• Hotel Market Research
• Hotel Feasibility Study
• Common Mistaked made in the Pre-opening Phase of Hotels .

On a last note, it will be extremely important you prepare yourself well, do a lot of research and develop a detailed business plan to ensure success . It is not as simple as ‘If you build it, they will come’, for if you have watched Field of Dreams with Kevin Costner.

Unfortunately, our hotel revenue management consulting experts and I still see too many hotel startups fail due to little planning.

I hope these tips will help fellow entrepreneurs start successful new hotel businesses!

Cheers, Patrick Landman

PS. Any doubts or uncertainties about your ideas and planning? Contact us for hotel revenue management consulting or hotel management  to help build out your concept and run your business most effectively as possible.

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How to Start a Hotel Business: Everything You Need to Know

Wondering how to start a hotel business? You’re not alone. One of the first-ever hotels , as we’ve come to know them, was started in Exeter, England in 1768. Today, the industry has skyrocketed to be part of one of the largest in the world.  But dreaming of starting a hotel business and actually doing it are two completely different things. That's where we come in. 

In this guide, we’ll teach you how to start a hotel business with step-by-step instructions, expert advice, and actionable tips. Keep reading to discover the fundamentals all hotel businesses need to succeed.

The steps we cover in this guide:

• Step 1: Find a market need
• Step 2: Craft your strategic goals
• Step 3: Run the numbers
• Step 4: Review financing options
• Step 5: Do your paperwork
• Step 6: Hire and train your team
• Step 7: Draft a marketing plan
• Step 8: Launch your hotel business

Discover how to start a hotel business in 8 steps:

Step 1: find a market need..

The first and most important step when learning how to start a hotel business is to gain a thorough understanding of the hospitality industry worldwide, as well as in your location. To get started, find your favorite hotel news sources , then set aside time each day or week to stay informed. Once you have some familiarity with the industry, it’s time to dive into the market research for your hotel.

Let us help you start your hotel business

Cvent's resources library is a great place to start. It's where you can read the latest news, thought leadership, and best practices from a wide variety of industry experts. The goal of your industry research is to get a clear idea of whether you can be competitive in your market. Also, what characteristics your hotel will need in order to succeed. 

Rather than starting with an idea and making the research fit, try to find an area of need in your market. What audiences are underserved? Where is demand outpacing supply? What does your location need in terms of hospitality and accommodation?

To give you a good understanding of where you’ll fit in, your market research should include:

• Property type. All hotels are not built the same. The industry is made up of resorts, spas, airport hotels, all-inclusives, hostels, boutiques, and many other property types. Determine what property type you plan to offer and what other options in that category exist in your location.
• Hotel size. Closely related to your property type is the hotel size. How many guest rooms will you offer, and how does that compare to your competitors?
• Star rating. What level of service and hotel amenities do you plan to offer?
• Location. What region will you operate in? Is demand increasing in the area? What location amenities, like airports, beaches, or event venues , will you be in close proximity to?
• Brand affiliation. Will you be a part of a larger brand’s umbrella? Being affiliated with a brand can help with marketing , business intelligence, pricing, and audience targeting.
• Extra amenities. What services or amenities are important for hotels of your type and star rating in your location? Things like free Wi-Fi, meeting space, a pool, or wedding services  are all important, depending on your target audience.
• Guest demographics. How would you define the types of guests who may frequent your location? What is the purpose of travel, and what are some common characteristics of these travelers? Knowing whether you are targeting business travelers, families, couples, solo travelers, retirees, or other demographic groups will help you to craft your marketing plan and hotel concept.

All of this research should give you a good idea of your main competitors and target audience. Those two pieces of information will determine everything else about your property, from budget and financing to marketing and daily operations. Spend time on this step to make sure you’ve found a true need in the market. You’ll be better prepared for success.

You can utilize tools like Cvent's Hotel Business Intelligence™ Software Solutions to provide you with the transformative business insights needed to conduct your market research and benchmark against the competition.

Step 2: Craft your hotel's strategic goals.

Once you have an understanding of market needs, you’ll need to create a smart solution to fill that gap. Your unique combination of amenities, concept, decor, marketing, location, and services can help you stand out from the crowd and capture market share if you approach it strategically.

Consider how you’ll approach pricing, revenue management , sustainability, customer satisfaction, events, and other market needs when crafting your goals. As with all goals, they should be S.M.A.R.T - specific, measurable, attainable, relevant, and time-based. According to the Naples Hotel Group , an expert hotel development firm, some of the best goals a hotel owner can focus on include: 

• Measuring and increasing customer satisfaction.
• Creating a solid revenue management system.
• Building a strong online reputation.
• Attending at least one hotel industry conference .
• Considering working with a consulting firm to bypass the common roadblocks new hotel owners face.

Make sure the needs of the market and your target audience, along with your business needs, help determine your goals. This will ensure that everything you do helps your customers, as well as your bottom line.

You can use a hotel business plan template to outline the results of your research and planning, including your competitive advantage, goals, and your plan to get those results.

Step 3: Run the numbers.

With your goals and plan in place, it’s time to run the numbers to make sure you'll be profitable. Using your market research, you can estimate key factors like room pricing, vacancy rates, RevPAR (revenue per available room), and operating costs. A basic overview of hotel finances will help you hire the right revenue manager and sales team later on. The two key areas to focus on are profitability and any external factors that may affect your hotel business. You’ll also need to estimate initial costs for your hotel business. This includes startup and hiring costs, licensing, permits, construction, renovations, and your first year of operations.

Set up a few scenarios in your forecasting to see how key decisions affect the potential profitability of your business. For instance, do you want to buy or build? Buying into a franchise or taking over an existing hotel building has lower startup costs, unless you have to renovate extensively. But it also requires you to establish your new hotel identity, which can be a challenge depending on the current state of the business. On the other hand, building a hotel, while usually considerably more expensive upfront, can provide a solution to a lack of available buildings and can be more lucrative in the long run. 

Step 4: Review financing options for your hotel business.

Once you decide on the right financial plan for your business, you’re ready to fund it. There are a number of available options for financing your hotel business. Jim Pendergast, Senior Vice President and General Manager of altLINE , discussed this topic in a recent interview with Cvent.

“It's important to understand the full scope of financing options available for your hotel's funding," he said. "Generally, you have two commercial financing categories when opening your hotel: traditional credit or specialty credit.

With traditional credit lines, you receive financing based on long-term assets. These are things like real estate owned by your hotel as well as cash flow projections and calculations submitted during underwriting. Lenders review these assets before awarding your loan.

With specialty credit, you'll receive financing or credit lines based on near-term assets. This might be hotel equipment or invoices from accounts receivable. The idea is these backings are more liquid than what's needed in traditional lending.

Both traditional and specialty financing are appropriate vehicles for hotels depending on your capital needs. However, the larger and more established your hotel franchise, the more specialty lending could make ongoing sense. This is because large hotels manage significant account receivables operations. 

Consider the amount of credit card transactions that must be administered. Also, hospitality-related vendor operations happening within the establishment. The larger your AR activities, the more something like AR-based asset lending and similar specialty lending might benefit you.”

Step 5: Do your paperwork.

There are many important legal, regulatory, and insurance requirements to fulfill in order to establish any new business. Your hotel business is no different. 

Consult with your legal, insurance, accounting, and operations teams to determine the requirements for your location. At a minimum, you’ll need to set up a business structure and get business insurance. You will also likely need building or renovation permits, hotel licensing, and licensing for serving food and alcoholic beverages. There will also be a number of health and safety requirements as you complete your building or renovation process. 

All of this paperwork is not the motivating factor for getting into the hospitality industry, but it is important. Work with your team to check requirements at the local, state, and federal level. Additionally, keep on top of the process throughout so you don’t have to repair costly mistakes later.

Modern hotel management begins here

Step 6: Hire and train your hotel team.

A business is only as good as the team members that contribute to its success. By hiring great employees at all levels, you’ll set yourself up to deliver value to your guests and become a market leader.

Many hotels opt to hire for executive and departmental positions first, setting the tone and direction. These leaders can then identify what they want to see within their teams and how many staff members they need. Each team should identify the roles and skills they’re looking for, as well as developing a plan to reach and source great new hires.

Make sure that your application and interview processes are easy for candidates so that you don’t introduce needless friction. Find ways to communicate your core mission, values, and approach to this new business throughout the hiring process. This will help you attract candidates who share your vision.

Once you’ve hired a great team, take the time to onboard and train them. This is an incredibly important step that will help everyone in the long run. Any employees who will interact with guests should receive extra training on customer service and guest relations so that they’re ready to lend a helping hand, regardless of whether it’s in their job descriptions.

Focus from the beginning on becoming the employer of choice in your market. You’ll attract a stellar team that’s ready to help you become a market leader.

Step 7: Draft a marketing plan.

You’re now ready to share your hotel concept with the world. Well in advance of opening, you’ll need to spread the word and set yourself up for a profitable launch. 

Your hotel marketing plan is an important part of your overall business strategy . It guides your decision-making on decor, daily operations, communications, customer service, and more. 

Think back to the target audience that you identified in your market research. Using that initial audience, you can now conduct more in-depth customer research to determine who your customers are. Also, where you’ll find them, how you’ll communicate with them, and how they define value.

Hotel marketing made simple

Hotel marketing expert and Co-Founder of Saffron Key, Ben Weagraff, advises that there is no one-size-fits-all plan for new hotel businesses.

“There’s a number of strategies that can work very well,” he told SiteMinder . “But they depend on the hotel itself; its digital properties (including website , email relationships , the strength of social media channels ) and what exactly the hotel is trying to do.”

He goes on to note: “However, generally these techniques present a good repeatable path towards driving high-value customers. The greatest thing about content marketing is that it is low-cost, measurable, repeatable, and it builds upon itself. Once the foundation is in place, customers roll in at increasing rates.”

If you’re looking for ideas for inspiration, check out  Marriott’s marketing strategy . Also, be sure to check out all of Cvent's hotel marketing solutions  to help guide you throughout the process.

Step 8: Launch your hotel business.

At this point, you’ve put in the work to open a profitable and high-quality hotel business for your market. You’ve got the plan and the team to make your vision a reality. Now it’s time to launch.

The goal of your launch is of course to introduce your hotel to guests. But it’s also a great opportunity to introduce yourself to the local community, key stakeholders, influencers, and potential partners. Put your best foot forward with these audiences by planning a grand opening event that reflects your mission and values.

Use event planning and diagramming tools to create your layouts, collaborate with vendors, and assign tasks to team members. As long as you focus on building relationships with your community, investors, and potential clients, your grand opening will be a success. 

Now you know how to start a hotel business using proven strategies from across the industry.

Now that you know how to start a hotel business, it's time to start thinking about reputation. Read on for  hotel reputation management tips every hotelier should know.

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Hotel Business Plan Template

Hotel business plan.

If you want to start a new hotel business or expand your current one, you need a business plan.

Over the past 20+ years, we have helped over 5,000 entrepreneurs and business owners create business plans to start and grow their hotel businesses.

Below are links to each section of your hotel business plan template:

• Executive Summary – The Executive Summary is the most important section of your business plan. It should be clear, concise and provide an overview of your business plan.
• Company Overview – The company analysis should include your company name, business model, location, history, and a brief description of your hotel’s services. You can also include your company’s mission statement and/or a list of your key objectives.
• Industry Analysis – The Industry Analysis should include information on the size of the hospitality industry, trends, competition and growth potential.
• Customer Analysis – The Customer Analysis should include a description of your target market, customer needs and how you plan to attract and retain your target audience.
• Competitive Analysis – The Competitive Analysis should include a description of your local competition, their strengths and weaknesses and your unique selling point for how you plan to compete with them.
• Marketing Plan – The Marketing Plan should include your sales and hotel marketing strategy, pricing strategy, and the promotion plan for your hotel. It should also include marketing efforts on third-party websites and online travel agencies.
• Operations Plan – The Operations Plan should include a description of your hotel operations, policies, and day-to-day procedures. It may also include your hotel business milestones.
• Management Team – The Management Team section should include biographies of the hotel owner, your hotel management staff, and their job descriptions.
• Financial Plan – The Financial Plan should include your hotel’s financial projections, funding requirements, and capital investment analysis.
• Appendix – The Appendix should include any supporting documents such as your hotel’s lease, contracts, permits, licenses, and complete financial statements including the income statement, balance sheet and cash flow statement.

Next Section: Executive Summary >

Hotel Business Plan FAQs

What is the easiest way to complete my hotel business plan.

Growthink's Ultimate Hotel Business Plan Template allows you to quickly and easily complete your own hotel business plan.

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.

What Is a Hotel Business Plan?

A business plan provides a snapshot of your hotel as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes local market research to support your hotel business plans.

Why Do You Need a Business Plan for a Hotel?

If you’re looking to start a hotel or grow your existing hotel you need a comprehensive business plan. A well-developed business plan will help you raise funding, if needed, and plan out the growth of your hotel in order to improve your chances of success. Your hotel business plan is a living document that should be updated annually as your company grows and changes.

What Are the Sources of Funding for a Hotel Business?

Hotels are usually funded through business loans.

Often you'll have to use personal savings and/or angel investors to help with the down payment on the business loan.

In the financial model section of your plan, be sure to detail, among other things, how much it will cost to build your hotel and the key uses of funds (e.g., building the hotel, cost to furnish the hotel, staffing costs, working capital, etc.).

Note that if you already operate several hotels, private equity investors might be interested in helping to finance your expansion.

How Do You Start a Hotel Business?

Starting a hotel business is easy with these 14 steps:

• Choose the Name for Your Hotel Business
• Create Your Hotel Business Plan
• Choose the Business Structure for Your Hotel Business
• Secure Startup Funding for Your Hotel Business (If Needed)
• Secure a Location for Your Business
• Register Your Hotel Business 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 Business
• Buy or Lease the Right Hotel Business Equipment
• Develop Your Hotel Business Marketing Materials
• Purchase and Setup the Software Needed to Run Your Hotel Business
• Open for Business

Learn more about how to start a hotel .

HOTEL BUSINESS PLAN OUTLINE

• Hotel Business Plan Home
• 1. Executive Summary
• 2. Company Overview
• 3. Industry Analysis
• 4. Customer Analysis
• 5. Competitive Analysis
• 6. Marketing Plan
• 7. Operations Plan
• 8. Management Team
• 9. Financial Plan
• 10. Appendix
• Hotel Business Plan Summary

Start Your Hotel Plan Here

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Whether your business is a rustic retreat or a high-end bed and breakfast, these sample business plans for hotels, inns, resorts, and other lodging businesses will help you write a business plan that will guide you to business success.

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Executive summary, business summary, business overview, market analysis.

• Economic Environment – This is the factor affecting inflation, increasing salaries, and types of employment. Know how people will want to spend money and why will they want to get away sometimes.
• Geographical Environment – This factor will tell whether there can be many people that will visit your hotel. You must consider the geographical location because you have to ensure that your hotel can be a likable place for customers.
• Legal Environment – Does your hotel comply with all the state laws? You must follow all the rules like liquor licenses so that your guests will not have any problem with your hotel. They need a place where they can do all things legally.
• Technology Environment – Your hotel should be updated with the latest technology. This can make your hotel more elegant and many will want to visit your hotel. State-of-the-art technology can set your hotel apart from other hotels.

Competitive Analysis

Advertising and operational strategy, financial plan, step 1: start with a plan, step 2: make a proposition, step 3: make a marketing plan, step 4: get capital, step 5: build the small hotel, step 6: hire key workers, step 7: launch the hotel, share this post on your network, file formats, word templates, google docs templates, excel templates, powerpoint templates, google sheets templates, google slides templates, pdf templates, publisher templates, psd templates, indesign templates, illustrator templates, pages templates, keynote templates, numbers templates, outlook templates, you may also like these articles, 5+ sample investment company business plan in pdf.

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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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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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10 Free Business Plan Templates in Word, Excel, & ClickUp

Praburam Srinivasan

Growth Marketing Manager

February 13, 2024

Turning your vision into a clear and coherent business plan can be confusing and tough. 

Hours of brainstorming and facing an intimidating blank page can raise more questions than answers. Are you covering everything? What should go where? How do you keep each section thorough but brief?

If these questions have kept you up at night and slowed your progress, know you’re not alone. That’s why we’ve put together the top 10 business plan templates in Word, Excel, and ClickUp—to provide answers, clarity, and a structured framework to work with. This way, you’re sure to capture all the relevant information without wasting time. 

And the best part? Business planning becomes a little less “ugh!” and a lot more “aha!” 🤩

What is a Business Plan Template?

What makes a good business plan template, 1. clickup business plan template, 2. clickup sales plan template, 3. clickup business development action plan template, 4. clickup business roadmap template, 5. clickup business continuity plan template, 6. clickup lean business plan template, 7. clickup small business action plan template, 8. clickup strategic business roadmap template , 9. microsoft word business plan template by microsoft, 10. excel business plan template by vertex42.

A business plan template is a structured framework for entrepreneurs and business executives who want to create business plans. It comes with pre-arranged sections and headings that cover key elements like the executive summary , business overview, target customers, unique value proposition, marketing plans, and financial statements.  

A good business plan template helps with thorough planning, clear documentation, and practical implementation. Here’s what to look for:

• Comprehensive structure: A good template comes with all the relevant sections to outline a business strategy, such as executive summary, market research and analysis, and financial projections 
• Clarity and guidance: A good template is easy to follow. It has brief instructions or prompts for each section, guiding you to think deeply about your business and ensuring you don’t skip important details
• Clean design: Aesthetics matter. Choose a template that’s not just functional but also professionally designed. This ensures your plan is presentable to stakeholders, partners, and potential investors
• Flexibility : Your template should easily accommodate changes without hassle, like adding or removing sections, changing content and style, and rearranging parts 🛠️ 

While a template provides the structure, it’s the information you feed it that brings it to life. These pointers will help you pick a template that aligns with your business needs and clearly showcases your vision.

10 Business Plan Templates to Use in 2024

Preparing for business success in 2024 (and beyond) requires a comprehensive and organized business plan. We’ve handpicked the best templates to help you guide your team, attract investors, and secure funding. Let’s check them out.

If you’re looking to replace a traditional business plan document, then ClickUp’s Business Plan Template is for you!

This one-page business plan template, designed in ClickUp Docs , is neatly broken down into the following sections:

• Company description : Overview, mission, vision, and team
• Market analysis : Problem, solution, target market, competition, and competitive advantage
• Sales and marketing strategy : Products/services and marketing channels
• Operational plan : Location and facilities, equipment and tools, manpower, and financial forecasts
• Milestones and metrics: Targets and KPIs

Customize the template with your company logo and contact details, and easily navigate to different sections using the collapsible table of contents. The mini prompts under each section guide you on what to include—with suggestions on how to present the data (e.g., bullet lists, pictures, charts, and tables). 

You can share the document with anyone via URL and collaborate in real time. And when the business plan is ready, you have the option to print it or export it to PDF, HTML, or Markdown.

But that’s not all. This template is equipped with basic and enterprise project management features to streamline the business plan creation process . The Topics List view has a list of all the different sections and subsections of the template and allows you to assign it to a team member, set a due date, and attach relevant documents and references.

Switch from List to Board view to track and update task statuses according to the following: To Do, In Progress, Needs Revision, and Complete. 

This template is a comprehensive toolkit for documenting the different sections of your business plan and streamlining the creation process to ensure it’s completed on time. 🗓️

If you’re looking for a tool to kickstart or update your sales plan, ClickUp’s Sales Plan Template has got you covered. This sales plan template features a project summary list with tasks to help you craft a comprehensive and effective sales strategy. Some of these tasks include:

• Determine sales objectives and goals
• Draft positioning statement
• Perform competitive analysis
• Draft ideal customer persona
• Create a lead generation strategy

Assign each task to a specific individual or team, set priority levels , and add due dates. Specify what section of the sales plan each task belongs to (e.g., executive summary, revenue goals, team structure, etc.), deliverable type (such as document, task, or meeting), and approval state (like pending, needs revisions, and approved).

And in ClickUp style, you can switch to multiple views: List for a list of all tasks, Board for visual task management, Timeline for an overview of task durations, and Gantt to get a view of task dependencies. 

This simple business plan template is perfect for any type of business looking to create a winning sales strategy while clarifying team roles and keeping tasks organized. ✨

Thinking about scaling your business’s reach and operations but unsure where or how to start? It can be overwhelming, no doubt—you need a clear vision, measurable goals, and an actionable plan that every member of your team can rally behind. 

Thankfully, ClickUp’s Business Development Action Plan Template is designed to use automations to simplify this process so every step toward your business growth is clear, trackable, and actionable.

Start by assessing your current situation and deciding on your main growth goal. Are you aiming to increase revenue, tap into new markets, or introduce new products or services? With ClickUp Whiteboards or Docs, brainstorm and collaborate with your team on this decision.

Set and track your short- and long-term growth goals with ClickUp’s Goals , break them down into smaller targets, and assign these targets to team members, complete with due dates. Add these targets to a new ClickUp Dashboard to track real-time progress and celebrate small wins. 🎉

Whether you’re a startup or small business owner looking to hit your next major milestone or an established business exploring new avenues, this template keeps your team aligned, engaged, and informed every step of the way.

ClickUp’s Business Roadmap Template is your go-to for mapping out major strategies and initiatives in areas like revenue growth, brand awareness, community engagement, and customer satisfaction. 

Use the List view to populate tasks under each initiative. With Custom Fields, you can capture which business category (e.g., Product, Operations, Sales & Marketing, etc.) tasks fall under and which quarter they’re slated for. You can also link to relevant documents and resources and evaluate tasks by effort and impact to ensure the most critical tasks get the attention they deserve. 👀

Depending on your focus, this template provides different views to show just what you need. For example, the All Initiatives per Quarter view lets you focus on what’s ahead by seeing tasks that need completion within a specific quarter. This ensures timely execution and helps in aligning resources effectively for the short term.

This template is ideal for business executives and management teams who need to coordinate multiple short- and long-term initiatives and business strategies.

In business, unexpected threats to operations can arise at any moment. Whether it’s economic turbulence, a global health crisis, or supply chain interruptions, every company needs to be ready. ClickUp’s Business Continuity Plan Template lets you prepare proactively for these unforeseen challenges.

The template organizes tasks into three main categories:

• Priorities: Tasks that need immediate attention
• Continuity coverage: Tasks that must continue despite challenges
• Guiding principles: Resources and protocols to ensure smooth operations

The Board view makes it easy to visualize all the tasks under each of these categories. And the Priorities List sorts tasks by those that are overdue, the upcoming ones, and then the ones due later.

In times of uncertainty, being prepared is your best strategy. This template helps your business not just survive but thrive in challenging situations, keeping your customers, employees, and investors satisfied. 🤝

Looking to execute your business plan the “lean” way? Use ClickUp’s Lean Business Plan Template . It’s designed to help you optimize resource usage and cut unnecessary steps—giving you better results with less effort.

In the Plan Summary List view, list all the tasks that need to get done. Add specific details like who’s doing each task, when it’s due, and which part of the Business Model Canvas (BMC) it falls under. The By Priority view sorts this list based on priorities like Urgent, High, Normal, and Low. This makes it easy to spot the most important tasks and tackle them first.

Additionally, the Board view gives you an overview of task progression from start to finish. And the BMC view rearranges these tasks based on the various BMC components. 

Each task can further be broken down into subtasks and multiple checklists to ensure all related action items are executed. ✔️

This template is an invaluable resource for startups and large enterprises looking to maximize process efficiencies and results in a streamlined and cost-effective way.

The Small Business Action Plan Template by ClickUp is tailor-made for small businesses looking to transform their business ideas and goals into actionable steps and, eventually, into reality. 

It provides a simple and organized framework for creating, assigning, prioritizing, and tracking tasks. And in effect, it ensures that goals are not just set but achieved. Through the native dashboard and goal-setting features, you can monitor task progress and how they move you closer to achieving your goals.

Thanks to ClickUp’s robust communication features like chat, comments, and @mentions, it’s easy to get every team member on the same page and quickly address questions or concerns.

Use this action plan template to hit your business goals by streamlining your internal processes and aligning team efforts.

For larger businesses and scaling enterprises, getting different departments to work together toward a big goal can be challenging. The ClickUp Strategic Business Roadmap Template makes it easier by giving you a clear plan to follow.

This template is packaged in a folder and split into different lists for each department in your business, like Sales, Product, Marketing, and Enablement. This way, every team can focus on their tasks while collectively contributing to the bigger goal.

There are multiple viewing options available for team members. These include:

• Progress Board: Visualize tasks that are on track, those at risk, and those behind
• Gantt view: Get an overview of project timelines and dependencies
• Team view: See what each team member is working on so you can balance workloads for maximum productivity

While this template may feel overwhelming at first, the getting started guide offers a step-by-step breakdown to help you navigate it with ease. And like all ClickUp templates, you can easily customize it to suit your business needs and preferences.

Microsoft’s 20-page traditional business plan template simplifies the process of drafting comprehensive business plans. It’s made up of different sections, including:

• Executive summary : Highlights, objectives, mission statement, and keys to success
• Description of business: Company ownership and legal structure, hours of operation, products and services, suppliers, financial plans, etc.
• Marketing: Market analysis, market segmentation, competition, and pricing
• Appendix: Start-up expenses, cash flow statements, income statements, sales forecast, milestones, break-even analysis, etc.

The table of contents makes it easy to move to different sections of the document. And the text placeholders under each section provide clarity on the specific details required—making the process easier for users who may not be familiar with certain business terminology.

No business template roundup is complete without an Excel template. This business plan template lets you work on your business financials in Excel. It comes with customizable tables, formulas, and charts to help you look at the following areas:

• Highlight charts
• Market analysis
• Start-up assets and expenses
• Sales forecasts
• Profit and loss
• Balance sheet
• Cash flow projections
• Break-even analysis

This Excel template is especially useful when you want to create a clear and visual financial section for your business plan document—an essential element for attracting investors and lenders. However, there might be a steep learning curve to using this template if you’re not familiar with business financial planning and using Excel.

Try a Free Business Plan Template in ClickUp

Launching and running a successful business requires a well-thought-out and carefully crafted business plan. However, the business planning process doesn’t have to be complicated, boring, or take up too much time. Use any of the above 10 free business plan formats to simplify and speed up the process.

ClickUp templates go beyond offering a solid foundation to build your business plans. They come with extensive project management features to turn your vision into reality. And that’s not all— ClickUp’s template library offers over 1,000 additional templates to help manage various aspects of your business, from decision-making to product development to resource management .

Sign up for ClickUp’s Free Forever Plan today to fast-track your business’s growth! 🏆

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Bally’s chairman: ‘Master Plan’ for former Tropicana site could integrate future resort and stadium

A ‘central’ spot for a ballpark could be possible as new resort could be built ‘simultaneously’.

LAS VEGAS, Nev. (FOX5) - A “Master Plan” is being developed for the site of the former Tropicana Hotel to better integrate a baseball stadium and forthcoming resort, according to the chairman of Bally’s Corporation, which could change the placement of both attractions on the property and centralize a ballpark.

The 36-acre portion of land at the corner of Tropicana Avenue and Las Vegas Boulevard is owned by GLPI, which offered nine acres to the Athletics for stadium development, leaving 27 acres for a future Bally’s property. GLPI and Bally’s committed the southeast corner of the property for stadium development.

According to Chairman Soo Kim, plans are in the works to create more synergy with a ballpark, a resort and the Strip. Kim met with FOX5 in the Las Vegas Valley to discuss developments.

“Our initial plan was to set the stadium back and leave the rest of the site open to development,” he said. “There is a prevailing thought that maybe we should explore putting it more centrally,” Kim said.

A potential centralized stadium location will, in turn, impact pedestrian and vehicle access for both the ballpark and resort, spurring the need for a cohesive Master Plan. The plan will require coordination with neighboring properties as well, he said.

“There’s an opportunity to offer the patrons more integration, and in that way, make the rest of the remaining acreage more valuable. Great sporting experiences are shared outside the arena, whether it’s the walk, or the concourses, or the energy outside the stadium,” Kim said.

“Modern arena design is what happens outside the stadium. That energy is the way to go,” Kim said. “I think the stadium Is going to be an amazing amenity for the city, for tourism and the community. It’s on us to bring a resort to life that’s as exciting as [John] Fisher’s plan for the stadium,” he said.

Though a representative on a recent Bally’s earnings call indicated that the operator could take time to develop a new resort, Kim said that executives are exploring the possibility of building “simultaneously” alongside stadium construction.

“There’s a lot of work being done. There’s a lot of important decisions we’re trying to make. We had a simple solution early, and now we’re trying to come up with an optimal solution,” he said, saying that members of the Las Vegas Valley community will be pleased with the future results after years of planning and construction.

Representatives of the Athletics, LVCVA and Stadium Authority have said construction could start in spring of 2025 and be ready by spring of 2028.

The company will be “fiscally prudent” as it decides on a construction timeline. he said. Although construction could commence simultaneously, Kim said completion of the entire resort could occur in stages after the stadium’s 2028 opening day.

Although Kim previously discussed in 2023 a focus on a “sports” theme for a future property , he said the priority has been to finalize the Master Plan.

Demolition of the Tropicana Hotel is on time and on schedule with an implosion planned for October or even September, he said, all to deliver a site ready for the Athletics to commence stadium construction.

Copyright 2024 KVVU. All rights reserved.

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Los Angeles County DA: No Charges in Sean Combs Hotel Video

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Los Angeles County prosecutors say no charges are forthcoming against rapper Sean “Diddy” Combs after the release of disturbing 2016 surveillance video taken in a Century City hotel, which appears to show the rapper and producer physically assaulting then-girlfriend Cassie Ventura.

“We are aware of the video that has been circulating online allegedly depicting Sean Combs assaulting a young woman in Los Angeles,” the District Attorney’s Office said in a statement posted on social media late Friday. “We find the images extremely disturbing and difficult to watch. If the conduct depicted occurred in 2016, unfortunately we would be unable to charge as the conduct would have occurred beyond the timeline where a crime of assault can be prosecuted.

“As of today, law enforcement has not presented a case related to the attack depicted in the video against Mr. Combs, but we encourage anyone who has been a victim or witness to a crime to report it to law enforcement or reach out to our office for support from our Bureau of Victims Services,” the statement continued.

The video, obtained by CNN, was taken at the then- InterContinental Hotel in Century City, the network reported.

The video shows Ventura exiting a hotel room and walking down a hallway toward a bank of elevators. Combs, wearing only a white towel wrapped around his waist and socks, is then seen following her down the hallway then forcefully grabbing her by the head or neck and throwing her to the ground. As she lies on the ground, Combs kicks her. After picking up a suitcase nearby, he kicks her again.

Combs is then seen trying to drag Ventura back down the hallway toward the hotel room, but he lets go of her after pulling her into the hallway from the elevator area. He then continues back toward his room.

Combs re-appears in the video and appears to shove Ventura again, before sitting in a chair and grabbing something from a nearby table and throwing it at her. He then returns to his room.

Ventura had claimed in a lawsuit in November that Diddy physically assaulted her in 2016, saying the rapper was drunk and punched her in the face. She alleged that when she tried to leave, Diddy followed her and eventually threw glass vases that were on display in the hallway at her. According to the suit, Ventura eventually got into an elevator and took a cab back to her apartment.

The lawsuit also made more serious allegations of sexual assault and other acts of physical abuse inflicted by Diddy. The lawsuit was settled one day after it was filed, but no details were released.

The rapper had issued a statement vehemently denying the suit’s allegations, suggesting Ventura was looking for a “payday.”

Responding to the release of the video, Ventura’s attorney, Douglas H. Wigdor, issued a statement to CNN saying, “The gut-wrenching video has only further confirmed the disturbing and predatory behavior of Mr. Combs. Words cannot express the courage and fortitude that Ms. Ventura has shown in coming forward to bring this to light.”

There has been no immediate response from Diddy to the video.

In late March, federal agents raided Diddy’s homes in Miami and in the Holmby Hills area of Los Angeles.

According to a statement from the Department of Homeland Security, the raids were “part of an ongoing investigation,” but no details were released.

The nature of the probe was unclear, but several reports indicated it was part of a federal sex trafficking investigation. Diddy has been targeted in multiple lawsuits in recent months — including Ventura’s — accusing him of sex abuse. In addition to Ventura, two other women filed lawsuits alleging sexual abuse.

Music producer Rodney “Lil Rod” Jones Jr. filed a lawsuit earlier this year accusing Diddy of groping him while the pair worked together on Diddy’s album “The Love Album: Off the Grid.” The lawsuit also included allegations that Diddy and his son engaged in a “sex-trafficking venture.”

Diddy’s attorney, Shawn Holley, issued a statement in response saying, “Lil Rod is nothing more than a liar who filed a $30 million lawsuit shamelessly looking for an undeserved payday. His reckless name-dropping about events that are pure fiction and simply did not happen is nothing more than a transparent attempt to garner headlines.

“We have overwhelming, indisputable proof that his claims are complete lies.”

Following the federal raids in March, Combs attorney Aaron Dyer insisted on the rapper’s innocence and accused authorities of a “gross overuse of military-level force as search warrants were executed at Mr. Combs’ residences.”

“There is no excuse for the excessive show of force and hostility exhibited by authorities or the way his children and employees were treated. Mr. Combs was never detained but spoke to and cooperated with authorities,” Dyer said.

“Despite media speculation, neither Mr. Combs nor any of his family members have been arrested nor has their ability to travel been restricted in any way. This unprecedented ambush — paired with an advanced, coordinated media presence — leads to a premature rush to judgment of Mr. Combs and is nothing more than a witch hunt based on meritless accusations made in civil lawsuits. There has been no finding of criminal or civil liability with any of these allegations. Mr. Combs is innocent and will continue to fight every single day to clear his name.”

–City News Service

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VOSTOCHNAYA - Reviews, Photos