Hotel Business Plan
A common trend in the hotel and hospitality industry is that in recent times, with the advent of the internet and the general public accessing the Internet, many airline companies have started selling their tickets directly to their target market via their online portal.
So also, it is now easier for other business in the hotel and hospitality industry value chain to now directly sell their services via their online portal to their target market. Service providers such as airline companies, car rentals companies, cruise lines companies, hotels, railways, tourist site managers, and perhaps interpreters and security agencies et al. which is why you can’t find any airline company paying commissions to travel agents on each ticket they sold again.
The hotel and hospitality industry is in a continuous state of evolution and as such, groundbreaking strategies and ideas that are once highly successful are no longer as productive as they were in time past.
Close observation of the trend in the industry reveals that the past few years have seen the rise and proliferation of social media and new tech tools. The trend also extends to increased attention paid to engagement and new market segments, adopting eco-friendly measures and sustainability when planning hotel and hospitality marketing.
As a matter of fact, social media has now become one of the most important tools hotels leverage on to disseminate information about their services, interact with clients, solicit feedback, and create year-round engagement with their target audience. Furthermore, new software apps and emerging technology have made it easier for hotels to gather all the needed data and information that will help them plan and project for the future.
The advent of sites such as hotels.ng, wakanow.com, etc. has made the provision of hotel services more accessible and hoteliers need to compete on the quality of service rendered as opposed to prices in previous years.
The truth is that the cost of running a hotel business can be kept to the barest minimum because there are always ways you can cut operational and overhead costs.
Table of content
Executive Summary 3
Business Description 9
Products and Services 9
Competitive Advantage 12
Market Research 15
Competitor Analysis 15
Sales and Marketing Plan 16
Operational Plan 17
Business Risk 20
Management and Structure 20
Financial Plan and Projections 21
PATILAD Hotel is a state of the art comfort paradise, in the heart of Lagos.
We are equipped with the right facilities for lodging; featuring an intercontinental restaurant and bar with seasoned staff, security, and spacious parking space.
We create a pleasurable experience for our clients capitalizing on personalized service, the intertwined traditional and modern architectural structure of our building, and its unique location in one of the most bulging parts of Lagos.
We are a premium lodging center, recreation, and event center.
We plan to create an environment of pampered luxury that surpasses anyone in our industry in Lagos.
Expanding our exposure via the Internet and social media to people that have not yet discovered this year-round paradise will allow us to maintain a higher than average occupancy rate and above-average profits.
PATILAD Hotel’s target market strategy is based on becoming a destination choice for the people visiting Lagos who are looking for a place to relax, recharge, or want to do business.
Our target market includes individuals or families looking for a serene yet engaging atmosphere in Lagos.
This will include conference attendees, businessmen and women, honeymooners, tourists, and drop-in customers.
Our setting and facility are conducive enough to accommodate folks of different temperamental inclination.
We operate a cozy just-like-home classic and exciting hotel.
We also feature entertaining bands and comedians who are always a thrill to our guest, especially the weekenders.
Other complimentary services include standard laundry, gymnastics services, car rentals, and a medium-sized grocery store thus increasing our revenue channels.
Our restaurant is posed to increase in weekly sales as we provide world-class intercontinental dishes in the whole 2km area of the district.
Our projection is without any significant increase in advertising or exposure but is based on the general average increase in tourism and business travel in Lagos.
Our major customer segments are locals, tourists, travellers, and drop-in customers.
We are available on all major hotel booking sites in Nigeria such as Hotels.ng, jumiatravels.com, wakanow.com, and the likes.
PATILAD HOTEL is researching the market to identify potential opportunities for future sales in this rapidly changing environment.
PATILAD Hotel’s long-term goal is to establish itself as an internationally recognized provider of top-of-the-line hotel services.
This goal does not prohibit PATILAD HOTEL from participating in additional segments.
It does, however, provide a corporate focus and a differentiated offering.
PATILAD HOTEL will begin operations with eighteen full-time positions.
The positions are as follows; CEO, General Administrator, Waiters, Fitness Instructors, Cleaners, marketing, and advertising, and accountant.