|
|
|
|
| The ""iTRAVELMarket" Network is not currently active and cannot accept new posts |
| Business Plan for New Hotel | Views: 744 |
| Nov 18, 2004 10:00 pm | | Business Plan for New Hotel | # |
Cathie Lee | | I am in the process of writing a Business Plan
It is for both
Investment &
Planning
Any pointers would be great.
CathiePrivate Reply to Cathie Lee |
| Nov 18, 2004 10:43 pm | | re: Business Plan for New Hotel | # |
Salil Chandrashekar | | Hi Cathie,
Sharing whatever little I learnt at school :). I am sure there are plenty of heavy weights in here that will lead you better :).
I am assuming your gonna present it to some venture capital firm.
The cardinal rule is always to have people from the related field onboard as advisors. It kinda gives credibility to your business idea. So hunt around for Chefs/Hotel owners etc that would be willing to guide you through the process as stake holders.
Make sure you have one sustainable competitive advantage. That one thing that sets you apart from other hotels. Try thinking in terms of why would some1 visit your place if I were to open up a hotel right next door to yours.
Since I dont know what exactly your planning in terms of a hotel! Think of a good branding strategy as well. Ok I'm no expert in the hospitality industry so a Hotel for me could be:
1. a restaurant exclusively
2. a place that provides accomodation and has a so so restaurant.
3. etc
So depending on which way your headed make sure your branding is simple and straight forward and the plan conveys the same. From a branding standpoint it helps to fall into a specific category rather then being all over the place. And to stress this point hard all I can say is "Google". One text box worth $40B or so.
See if you can come up with a rough estimate of location(lease), furniture, equipment(kitchen as well as furniture/fixtures), working capital required and a rough estimate as to when you think you would breaking even(helps with venture capitalists!!!! BIG TIME!!!).
And just for your own sake not to question your abilities but have an exit strategy in mind! In this day and age with increased competition and fickle consumer tastes and preferences it helps!:)
Just something to get you started. I am certain others would provide more insightful comments.
Regards,
Salil
> Cathie Lee wrote:
> I am in the process of writing a Business Plan
>It is for both
>Investment &
>Planning
>
>Any pointers would be great.
>
>Cathie Private Reply to Salil Chandrashekar |
| Nov 19, 2004 12:13 am | | re: Business Plan for New Hotel | # |
Lynn Wilson | | Hi Cathie,
There are some great networks on venture capital etc. I bet they would have great advice. If you do a search in the network section you should come up with a good network to pose your question to.
Also I went to your page and you must have your security set too high since you have to be gold to be able to communicate with you.
Lynn
> Cathie Lee wrote:
> I am in the process of writing a Business Plan
>It is for both
>Investment &
>Planning
>
>Any pointers would be great.
>
>Cathie Private Reply to Lynn Wilson |
| Nov 19, 2004 5:01 am | | re: Business Plan for New Hotel | # |
Lalit Saraswat | | if you can be specific with these details, i am sure you should get relevant tips here from people within that specific category.
- hotel category, location ?
- target market (type, geography)?
- product mix ?
the hotel plan should cover above plus:
- how will you fill your rooms ? sell your misc services + F&B ?
- people with relevant experience
plus the basics of any business plan, as also pointed out by salil:
- swot
- market analysis
- income + expense
- projections
- ratios
- risks etc
all the best
:-)
> Cathie Lee wrote:
> I am in the process of writing a Business Plan
>It is for both
>Investment &
>Planning
>
>Any pointers would be great.
>
>CathiePrivate Reply to Lalit Saraswat |
| Nov 19, 2004 5:05 am | | re: re: Business Plan for New Hotel | # |
Cathie Lee | | Lynn,
I checked my preferences, and they are open to all.
I have also tried to contact other persons and am getting a simular
response. I thought is was a new thing at ryze to generate income?!
Thank you for the advice re vc networks. I have posted on them as well.
Cathie
> Lynn Wilson wrote:
> Hi Cathie,
>There are some great networks on venture capital etc. I bet they would have great advice. If you do a search in the network section you should come up with a good network to pose your question to.
>Also I went to your page and you must have your security set too high since you have to be gold to be able to communicate with you.
>Lynn
>
>> Cathie Lee wrote:
>> I am in the process of writing a Business Plan
>>It is for both
>>Investment &
>>Planning
>>
>>Any pointers would be great.
>>
>>Cathie Private Reply to Cathie Lee |
| Nov 19, 2004 5:17 am | | re: re: Business Plan for New Hotel | # |
Cathie Lee | |
> Salil Chandra (www.c2b.ca) wrote:
> Hi Cathie,
>
>Sharing whatever little I learnt at school :). I am sure there are plenty of heavy weights in here that will lead you better :).
>
>
>I am assuming your gonna present it to some venture capital firm.
>
>The cardinal rule is always to have people from the related field onboard as advisors. It kinda gives credibility to your business idea. So hunt around for Chefs/Hotel owners etc that would be willing to guide you through the process as stake holders.
>
>Make sure you have one sustainable competitive advantage. That one thing that sets you apart from other hotels. Try thinking in terms of why would some1 visit your place if I were to open up a hotel right next door to yours.
>
>Since I dont know what exactly your planning in terms of a hotel! Think of a good branding strategy as well. Ok I'm no expert in the hospitality industry so a Hotel for me could be:
>
>1. a restaurant exclusively
>2. a place that provides accomodation and has a so so restaurant.
>3. etc
>
>So depending on which way your headed make sure your branding is simple and straight forward and the plan conveys the same. From a branding standpoint it helps to fall into a specific category rather then being all over the place. And to stress this point hard all I can say is "Google". One text box worth $40B or so.
>
>See if you can come up with a rough estimate of location(lease), furniture, equipment(kitchen as well as furniture/fixtures), working capital required and a rough estimate as to when you think you would breaking even(helps with venture capitalists!!!! BIG TIME!!!).
>
>
>And just for your own sake not to question your abilities but have an exit strategy in mind! In this day and age with increased competition and fickle consumer tastes and preferences it helps!:)
>
>Just something to get you started. I am certain others would provide more insightful comments.
>Regards,
>Salil
>
>> Cathie Lee wrote:
>> I am in the process of writing a Business Plan
>>It is for both
>>Investment &
>>Planning
>>
>>Any pointers would be great.
>>
>>Cathie Private Reply to Cathie Lee |
| Nov 28, 2004 2:58 am | | re: Business Plan for New Hotel | # |
Roya Latif | |
Hi Cathie, I understand that you are writting a business plan for a hotel, are you the owner of the hotel or are you the developer?
We are a full service interior design firm, specializing in hotel design.
If you would like some information on our services let me know and I can send you some.
Im sorry that I couldnt help with the business plan.
Good luck with that!!
I hope to hear from you soon.
Regards
RoyaPrivate Reply to Roya Latif |
| Nov 25, 2008 4:22 am | | re: Business Plan for New Hotel | # |
Jennifer | | DOES someone have an OLD hotel business plan to share ?
IF the hotel was BUILT to that plan, I would love to know what is the ACTUAL PERFORMANCE of that hotel now ?
Private Reply to Jennifer |
 |
|
|
