: Holiday Inn and Suites Hotel - Business Plan Example

Business Plan: Holiday Inn & Suites Hotel Other (s) Executive Summary Business Plan: Holiday Inn & Suites Hotel 1. General Company Description The business will operate under the name Holiday Inn & Suites. A middle priced hotel that will focus on offering a diverse range of holiday and accommodation services with up to 100 rooms including two queen bed suites, king suites, and jacuzzi suites, an Indoor pool as well as Hot breakfast. Generally, the facility will provide both high level and personalized services to the guests and an extensive range of other luxurious settings and accommodation services particularly for leisure travelers Holiday Inn & Suites will be located in the city of Harrisonburg, Virginia. The hotel name would go hand in hand with products and services offered; the hotel would simultaneously offer both hotel products and services hence an ideal name would be HOLIDAY INN & SUITES. The room types would be two queen bed suites. This research paper explains a business plan project. The town of Harrisonburg Va. is well known for its historic sites and art centers which a major attraction because of the breath is taking sites in the area. The strategic location is particularly intended to corporate guests and tourists who often travel to Virginia. At the start, 100 rooms would be perfect for the business; this would create room for a perfect and elasticity analysis of the market supply and demands in relation to the new hotel in the area. Harrisonburg, VA is a densely populated areas with various tourism activities hence one of the ideal sites for hotel business. Our main objective as Holiday Inn and Suites is to offer the best customer experience to our esteemed clients. On the other hand, our mission is to be the preferred hotel inn in the Harrisonburg Va. and its surroundings by offering the best customer service through offering superior products and services, and empowering staff and in return attain profitability and maximum growth over time. 2. Products and Services Products and services that would be offered by Holiday inn and suites include; continental menu plan and bed and breakfast. Hotel inn and suite offers a place for family get ways, hearty breakfast and dietary restriction is considered, personalized services. With one hundred rooms including two queen bed suites, king suites, and Jacuzzi suites, the proposed luxurious hotel business will be offering one of the most luxurious and attractive amenities in the region. In addition, Holiday Inn & Suites will also offer indoor pools that add to ambiance offered here. Our customers are also offered some hearty hot breakfast. These are some of the best menu plans hotels offer especially in cases of many customers in the business. Additional products and services would include canned beverages and tours and travel guides and transport systems. Finally, the hotel will also in the future offer a number of free amenities including free parking, complimentary shuttle services. 3. Marketing Plan The potential customers for holiday in and suites would most probably be the holyday makers, local tourists and international tourists. This would increase the marketing share of the hotel as the foreign exchange earned through the hotel would be used in the share marketing of the hotel assets and liabilities. Marketing entry barriers for the holiday inn and suites would most probably be the stringent governmental laws which play the role of preventing mushrooming of hotels in the industry (Lledo 139). Tourism industry in the recent past has flourished globally a big deal. Hotelier and hotel management therefore is one of the most profitable business premises in the hospitality industry. Ideally, our hotel plan project targets Harrisonburg, VA as the ideal location. Additionally, marketing competition would be from malpractices in this industry by the already successful hotelier businesses basically to enjoy the monopoly of the business industry. A well-planned pricing strategy nonetheless would rely on a comparison of the already existing prices in this market by the other hotel business. On the other hand, sales tactics of holiday inn and suites would be on television advertisements, billboards and above all the use of customer personal relations in the overall hotel management process. Generally, the pricing strategy of Holiday Inn and Suites will be consistent with the company’s differentiation objective and provision of value at a reasonable rate. Our immediate marketing objectives will be attaining an annual growth of 15% in terms of new customers and at least 96% customer retention. The following is a preliminary room prices net of tax and service, hot breakfast included: Corporate single - $90.00 Corporate double - $120.00 Corporate double deluxe - $ 170.00 Corporate suite - $220.00 Operational Plan The amount of invested capital for the running of this hotel business would be 2million.Apart from the capital; additional finishing structures such as shower fixtures, beds and mattresses in the 100 rooms would be needed. These items can be taken on credit for later repayments in installation. Swimming pools is another important facility in the hotel which must be fully operational. This henceforth would complicate the overall management system of the pool. A central supervisory body would ensure all the hotel operations are aptly upheld. Reporting, planning, staffing and coordination of all activities would be necessitated by a grapevine mode of management (Lledo 148). Supporting services such as fire management would solely rely on the metropolis departments. An inclusive fire evacuation plan and fire point assembly would be provided by the management to secure the whole facility. License and permit of holiday inn and suites would go hand in hand with the legality of the business. A casino would not be an entity of the hotel hence the by-laws would take the key responsibility of social corporate responsibility. 4. Management and Organization  Holiday Inn & Suites being a sole being a sole proprietorship kind of business will have the proprietor as the managing director of the business. The proprietor has within the past acquired sufficient technical and managerial skills through attending various workshops on entrepreneurship and business management. The business manager will have the following duties and responsibilities: Formulation of general policies of conduct in business Ensure the business meets all the necessary legal obligations. Planning of work schedules and operational requirements Authorize capital expenditure and distribute profit, verify costs and other related data in the firms operations. 5. Personal Financial Statement Personal Assets and Liabilities Cash in Bank Accounts $ Total revolving credit $ Publicly Traded Investments $ Total installment loans $ Residence Market Value $ Other Real Estate Owned $ Other Assets $ Other liabilities $ Total Assets $ Total liabilities $ Total Net worth $ 6. Start-up Expenses and Capitalization The cost of this hotel would approximately be 1, 400,000 inclusive of occupancy (OCC), revenue per available room (RevPar), average daily rates (ADR), market penetration index (MPI) and hotel supply and demand. These factors would necessitate the hotel’s performance metrics and overall hotel industry performance in relation to the amount of capital injected in my hotel project business. Jacuzzi suites and bed and hot breakfast would be additional services offered by HOLIDAY INN and SUITES hotel (Lledo 123). Works Cited Lledó, Pablo. Project Manager: How to Pass the Pmp Exam Without Dying in the Attempt. Bloomington, IN: Trafford Pub, 2011. Print. Read More