Executive Summary for Hotel Business Plan
Are you interested in writing an executive summary for a hotel and resort business? The need for hotels continues to grow across the world. This is more pronounced in developing or expanding cities. This is an area of investment you may want to consider if you have interests of starting one. An important component which must be put in place is the business plan. Without this document, your business will witness upheavals which will most likely lead to its closure or failure.
However, writing the business plan requires some skills. If you are to write this document yourself, you will need all the help you can get, especially if you have little or no knowledge. This article comes handy as it gives the needed guidance on how to write a hotel business plan executive summary. It even goes further to provide a sample to work with. By following and applying all the tips provided, writing a hotel business plan executive summary will not be an issue to you.
The part the executive summary occupies in the business plan is paramount and cannot be contested. This is because every investor is very interested in this section as it gives a glimpse of what the whole business plan document is about. It is a summary of the entire business plan, thus, when writing one, it requires every attention you can give it.
Southern Sun Hotel is a 3 Star hotel located in Mississippi. Founded by business associates Karen Brown and Danny Lucas, the Southern Sun hotel is strategically located in the nerve-centre of Mississippi’s economic capital. By virtue of its location, the Southern Sun hotel will offer the perfect destination for lodgements, conferences and a place for a vast array of other business as well as social activities.
Some of the services and facilities to be offered by Southern Sun Hotels include banquet halls for receptions, meetings as well as other social events. Others include laundry rooms, gym, swimming pools, a vast array of drinks which will include alcoholic, beverage, non alcoholic as well as soft drinks. Others include a mini mart, a cyber café shuttle services and lodgements for VIP clients as well as economy lodging.
Our rooms are tastefully furnished to suite your taste and your special needs taken care of by a room service just a beep away. All our rooms are connected to a secure WIFI network, as well as cable TV which streams premium channels to cater for the entertainment needs of our clients. There is also a live band which will play continuous good music especially during times our clients will need to wind down from a stressful day.
The owners of Southern Sun Hotel, Karen Brown and Danny Lucas have acquired vast experience in hotel and resort administration. This wealth of experience will be effectively applied to Southern Sun to make it one of the best 3 start hotel brands in Mississippi. Southern Sun already has ambitious plans of expanding its operations to cover 7 States of the United States 10 years from the date of its inception.
The source of funding for the Southern Sun Hotel project comes partly from private financing (to the tune of $300,000) sourced mainly from savings and a debt financing arrangement which seeks to raise $700,000. The repayment of this loan will be spread across 10 years, with payment commencing 3 years from the start of business operations.
There are currently several other hotels within the Mississippi area who offer remarkable services. However, we will leverage on our strengths which are vast experience in the industry as well as the development of innovative services to penetrate the market and compete favourably with other 3 star hotels. With this in mind, we have made projections that will see us realizing a $200,000 profit in our second financial year. This is expected to grow to over $500,000 in the 5th financial year.
At Southern Sun Hotel, our business objective is to be among the top restaurant brands not only within Mississippi, but across the United States. The time frame to achieve this will be 10 years from the inception of business operations. Our expansion plans will enable us achieve this noble objective through the infusion of exceptional services while paying close attention to our client’s unique needs, no matter how little they may be.
For us, our workforce plays a paramount role in the satisfaction of our clients. Hence, they are given the best to perform exceptionally well on the job. We do not just hire suitable candidates but also contribute significant resources in building them to ensure they get better with each passing day. A continuous training program is frequently organized to bring them up-to-date with the industry’s best practices.
Southern Sun strives to ensure that our activities align with our drive for excellent customer care services and client satisfaction. Our mission is to open more hotels across 7 states of the United States within 10 years from the date of commencement of business. Our longer term plans will include the establishment of the Southern Sun resorts. This is aimed at providing premium hospitality to our esteemed clients.
To encourage our workforce to give in their best, remunerations will be a key focus of management. Attractive remunerative packages will be made available to our workforce. This will also be accompanied by a bonus system that rewards loyalty and dedication to duty.
Keys to Success
The role of marketing to any business is central to its growth and development. Thus, to achieve our business objectives, a world class marketing department will coordinate all marketing and advert activities. This is particularly aimed at increasing patronage to our business. Also we will be on the watch-out for any areas of weaknesses which our competitors may have. These would be taken advantage of and improved upon to foster greater productivity thus enabling us to have a critical edge over them.
This hotel business plan executive summary sample has sought to provide the needed guidance on how to write a good executive summary for a hotel business. It is strongly believed that with the insights provided, you will have fewer problems if any in writing your unique hotel business plan executive summary.