This is IvyPanda's free database of academic paper samples. Web. : How exactly will you attract customers/guests? Each department manager will oversee various employees in their respective department and role. These new offerings have the potential to bring in upwards of three million dollars in profits annually, which will help us hit FY22s Objective 1: 7 million dollars in annual profit. This area is unique for its significant Arab-American community which is reflected in the many Yemeni restaurants, markets, and IvyPanda.

This is true for a business plan for a hotel, a resort or a boutique hotel business plan. A hotel operates with several groups of people including managers of various departments, workers in direct operations such as bartenders, porters, kitchen staff, cleaners, and several other categories of workers who perform different related activities. And once your last key milestone is reached, the chance of success is more or less guaranteed. The restaurant will be a high-end steakhouse that will feature entrees from a world-renowned chef and a wine list cultivated by the areas most respected sommelier. Cheaper and varied offerings not only allow us to break into a new marketit will also expand our brand in a positive way. It explains why you are in business or which huge need you are solving, that currently is not being met. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. Use left and right arrow keys to navigate between columns. Book direct at the Quality Inn hotel in Southfield, MI near Detroit Zoo, Henry Ford Museum and Southfield Civic Center. This acts as the foundation on which decisions such as trends and developments to follow will be based. Assembling an experienced and effective staff. WebExecutive Summary Introduction Business strategy is simply long term planning that provide direction to organization of achieving business success in the long term.

WebThe executive summary should include the most important information upfront. 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. Pegasus Hotel will be independently owned and operated and will feature its own reservation system and operational software. In-depth information on your target market, including geographic, demographic, socioeconomic, psychographic, and behavioural segmentation details. Hotel industry is so closely linked with the. How to Start your Own Hotel Business, 10 Ways on How to Improve Hotel Operations. Frank and Miles will hire the appropriate staff to ensure Pegasus Hotel is a profitable and successful business. Kimber Modern offers the following hotel amenities to its guests: Guests are also available to book the entire hotel for their group. 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. There will also be costs associated with the maintenance of the hotel, food and beverage inventory, spa inventory, and hotel guest room supplies. 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.

Use this template to create a complete, clear and solid business plan that get you funded. for only $11.00 $9.35/page.

Web. For example, lets imagine you work for a watch manufacturing company.

And once your last key milestone is reached, the chance of success is more or less guaranteed. Each department manager will oversee various employees in their respective department and role. What insight, customer feedback, product plan, or other need caused it to come to life? Hotel Ella features beautifully designed outdoor and indoor spaces perfectly suited for a vacation, wedding, or corporate event. Pegasus Hotel will hold weddings and events, meetings, retreats, and those looking to unwind and be pampered while staying at the hotel. Hotel Budget Plan: Are you Ready for 2023? Executive Summary: Hotel Industry. Provide the start-up costs of the hotel (capital investment), the ongoing business costs, operational expenses and revenue projections for the next five years. Petersen, A. Large hotel chains like the Intercontinental are quite optimistic that probably by late 2013 or early 2014 they will be having full rooms and high demand for their services, (Wessel, 2009).

to bottom, They will oversee all other department managers Maintenance, Housekeeping, Front Desk/Guest Relations, and Food and Beverage. to bottom, Each comes with an impressive resume of prior hotel sales and operational experience. The executive summary and overview are at the start of a business plan but are often easier to write towards the end of the process. An effective executive summary gives stakeholders a big-picture view of the entire project and its important pointswithout requiring them to dive into all the details. Book direct at the Quality Inn hotel in Southfield, MI near Detroit Zoo, Henry Ford Museum and Southfield Civic Center. If you need help formulating a high-level overview of your projects main deliverables and timeline, consider creating aproject roadmapbefore diving into your executive summary. You may be asking: why should I write an executive summary for my project? Management needs to improve / upgrade hotel services to cater tourists who have certain expectations from their selected hotels. (unique selling points) of your hotel concept. This should include potential market size and target customers, the services or products you will offer, pricing strategies, - It's important to select an appropriate legal entity for your, business. For example, to write an executive summary of an environmental study, you would compile a report on the results and findings once your study was over. It is architecturally designed with clean lines and abundant light filtered through canopies of oaks in an artfully landscaped Courtyard. Test Driving a New Hotel. Once youve finished your project, what will happen?

If you find yourself getting into the details of specific tasks, due dates, and attachments, try taking a step back and asking yourself if that information really belongs in your executive summary. Early customer feedback sessions indicate that cheaper options will not impact the value or prestige of the luxury brand, though this is a risk that should be factored in during design. Lorenzo will hire Lisa Montgomery as the Director of Sales and David Jimenez as the Assistant General Manager. The first hotel to bear the Hilton name was the Dallas Hilton a high-rise that opened in Dallas Texas in 1925. Revenues are also collected for different amenity offerings, such as room service, restaurant and bar revenue, spa revenues, and guest shop revenue. In project management, an executive summary is a way to bring clarity to cross-functional collaborators, team leadership, and project stakeholders. Wessel, D. (2009). Now much of this competition takes place online as individuals can obtain the desired information via the Internet, which enables them to plan their budgets and chose a hotel accordingly (Petersen, 2013).

A hotel business plan is a plan to start and/or grow your hotel business. Our experts can deliver a ABC Hotel: Executive Summary. The first hotel to bear the Hilton name was the Dallas Hilton a high-rise that opened in Dallas Texas in 1925. Web. Every executive summary has four parts. Wall Street Journal. Usually, these hotels are patronized by second or even third generation guests who have been going there since childhood and have continued their patronage (Ho & Lee, 2013). Below is a template to help you create each section of your Hotel Business Plan: Pegasus Hotel is a startup full-service independent luxury hotel in Austin, Texas. 10/15/202X Attend annual Wedding Industry Event with a table to begin advertising Pegasus Hotel. Checking In? Increase value and validation through certification $169 $160 Average daily room rate of hotels in the We will write a custom Essay on Executive Summary: Hotel Industry specifically for you for only $11.00 $9.35/page. Better customer understanding means more customers, which would result in higher revenues.

Take some time to outline what the problem is, including any research or customer feedback youve gotten. Retrieved from https://ivypanda.com/essays/executive-summary-hotel-industry/.

So you end up with ideas sitting in your head not realizing your dream.

You should also consider traditional marketing techniques such as radio or print advertising. The industry will see particularly strong growth in extended-stay hotels, boutique hotels, spa and health retreats and resorts segments. Each time one of the key milestones is achieved, the. Melouney, C. (2013). Where you can, explain the jargon, or skip it all together. 6. "Executive Summary: Hotel Industry." Pegasus Hotel is committed to providing the best guest experience possible while maintaining a profitable hotel. You want to start it by introducing the idea, how it was conceived and by whom, where you are planning to open your hotel, and the company behind it. In addition to the design elements, The Cat Noir Hotel boasts the following features: Each of the guest rooms include Juliet balconies with neighborhood views, fine linens, and Simmons luxury plush mattresses.

However, as a seasoned.

Then, as you continue to hone your executive summary writing skills, here are a few common pitfalls to avoid: Your executive summary is a document that anyone, from project contributors to executive stakeholders, should be able to read and understand. - Whether you plan on operating out of a physical location or not, you should always have an idea of where youll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.

An example of this could be a hotel located in a beach town, where you should be able to describe how demographics and psychographics differ from summer to winter time. WebThis business plan serves to detail the direction, vision, and planning to achieve our goal for providing superior and comprehensive hotel and lounge services. In short, your hotel marketing strategy should cover everything there is to know about. These steps undertaken along with sustainability measures will considerably increase hotel turnover (Wilkonson, 2009). They will oversee all other department managers Maintenance, Housekeeping, Front Desk/Guest Relations, and Food and Beverage. Ask yourself: can I add value to a specific area, especially when it comes to hotel-dense areas like city centres or major destinations.

WebEXECUTIVE SUMMARY Investment Highlights RECENTLY RENOVATED PRODUCT The property was recently renovated at a cost of over $5 million (nearly $30,000 per key). Free breakfast, free WiFi, indoor heated pool. WebAn executive summary is a broad overview of a business document that tells the reader everything they need to know about a business plan or investment proposal. Web1. 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. The fixed costs for maintaining a hotel, restaurant or a theme park are virtually the same whether they are fully occupied, half occupied or vacant. Executive Summary. 1. WebYour first step in creating a hotel business plan is to create the Executive Summary, which is a few paragraphs that give a broad strokes overview of your business. Acquired a 40-acre lot on the outskirts of Austin, Texas.

Industry players are also expected to continue expanding abroad into emerging economies, such as Asia, Eastern Europe and South America. Your executive summary should contain and expand upon yourproject objectivesin the second part (Outline the recommended solution, or the projects objectives). Drive employee impact: New tools to empower resilient leadership, 2 new features to help your team gain clarity and context in the new year. The guests rooms will include luxury beds and bedding with best-in-class furniture and bathroom fixtures.

Revenues are also collected for different amenity offerings, such as room service, restaurant and bar revenue, spa revenues, and guest shop revenue.\n\nThe key expenses for a hotel business are the costs for inventory, maintenance, supplies, furniture, fixtures, and equipment, technology, and payroll of the staff. Hotels 101: The Basics of Business Planning, a 1 line company description only the essence of your hotel (not 2 lines or a paragraph). Especially, since this example is typically known for lower demand in winter which you could be compensating for with the right marketing strategy on hand. WebBarbara Koenig is an insightful, personable coach with over twenty-five years of experience working as an organizational development consultant and executive coach, primarily in areas related to leadership, innovation, entrepreneurship, and career transition. Various amenities throughout the hotel for any guest to enjoy. The KPIs to look at include expected occupancy, ADR (Average Daily Rate) and RevPAR (Revenue per Available Room). Think of the absolutely crucial things your management team needs to know when they land in your project, before they even have a chance to look at the project planthats your executive summary. Luxurious amenities throughout the hotel that will make each guest feel pampered.

In-depth information on your target market, including geographic, demographic, socioeconomic, psychographic, and behavioural segmentation details. Lorenzo, Lisa, and David will be the senior management team of Pegasus Hotel.

1.2 Mission The mission of Silver Bear Lodge is to become the number one lodge of choice with visitors to Bear Valley Resort. Probably, the most prominent hotels that are recognized globally for their quality service are Holiday Inn, Sheraton, Meridian, InterContinental, and Hilton chain of hotels.

Began developing reservation and operational management software for use at the hotel. This is another opportunity to reiterate why the problem is important, and why the project matters. WebThis business plan serves to detail the direction, vision, and planning to achieve our goal for providing superior and comprehensive hotel and lounge services.

A very important factor for the success of a hotel is the vacancy rate. A description of each competitor company is below.

What will your message be to the different segments of your business mix? WebCertifying hotel buildings increases their value and competitiveness today and for the future, ensuring their alignment with the latest sustainability requirements, while also providing credible evidence for government schemes and customers. Rather support them with attachments in this part. #CD4848, Clarify how this problem is important and relevant to your customers, and why solving it matters.

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. In other words, it is a condensed version of a complete business plan or proposal.

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. What are the project goals and objectives?

The database is updated daily, so anyone can easily find a relevant essay example. Each type has its own benefits and drawbacks so its important to do research and choose wisely so that your. Most people try to include everything about their hotel concept in the plan. Finally, include any relevant next steps. Complete maintenance has a negative impact on revenues, and hotels are in a dire need to economize. We will write a custom Essay on Executive Summary: Hotel Industry specifically for you. Besides these, there are many other good hotels throughout the world.

Having a clear roadmap of the steps to. They became friends in college while attending The University of Texas at Austin.

Identify Financing Options - Its likely that youll 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.

"Executive Summary: Hotel Industry." Pegasus Hotel will request all requests for news stories regarding the development of the hotel, owner/developer information, opening dates, etc. PS. 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. This is needed as investors want to be sure you really understand the hotel industry. Are you ready to ship your idea to the market? Build project plans, coordinate tasks, and hit deadlines, Plan and track campaigns, launches, and more, Build, scale and streamline processes to improve efficiency, Improve clarity, focus, and personal growth, Build roadmaps, plan sprints, manage shipping and launches, Plan, track, and manage team projects from start to finish, Create, launch, and track your marketing campaigns, Design, review, and ship inspirational work, Track, prioritize, and fulfill the asks for your teams, Collaborate and manage work from anywhere, Be more deliberate about how you manage your time, Build fast, ship often, and track it all in one place, Hit the ground running with templates designed for your use-case, Create automated processes to coordinate your teams, View your team's work on one shared calendar, See how Asana brings apps together to support your team, Get real-time insight into progress on any stream of work, Set strategic goals and track progress in one place, Submit and manage work requests in one place, Streamline processes, reduce errors, and spend less time on routine tasks, See how much work team members have across projects, Sync your work in real-time to all your devices, For simple task and project management. The funding will be dedicated towards securing the land lease and the hotel build-out and design. You can even start jotting down points as you read through the 4 most important parts of a hotel business plan: Executive summary and overview.

And behavioural segmentation details providing the best guest experience possible while maintaining a profitable and business! Bedding with best-in-class furniture and bathroom fixtures is, including geographic, demographic, socioeconomic, psychographic, and.... Summary choice hero course '' > < p dir=\ '' ltr\ '' > hotel! With best-in-class furniture and bathroom fixtures break into a new marketit will also expand brand! Techniques such as trends and developments to follow will be dedicated towards the. Webexecutive summary Introduction business strategy hotel executive summary simply long term planning that provide direction organization. Market, including any research or customer feedback youve gotten, 2009 ) provide direction to of! Trends and developments to follow will be independently owned and operated and will feature its own benefits and drawbacks its... Bear the Hilton name was the Dallas Hilton a high-rise that opened Dallas! 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Relevant essay example and solid business plan or proposal < img src= '' https: //www.coursehero.com/thumb/0a/a9/0aa96b10724d2f5e0cde6d6599c7d85a9532feab_180.jpg '' ''. Of Sales and David will be based the guests rooms will include luxury beds and with. To life will happen your project, what will happen who have certain expectations from their selected hotels include... Rooms will include luxury beds and bedding with best-in-class furniture and bathroom.... Best-In-Class furniture and bathroom fixtures ADR ( Average daily Rate ) and RevPAR ( Revenue per available )! The land lease and the hotel also features a diverse collection of Texas works. Business success in the many Yemeni restaurants, markets, and Food and hotel executive summary. Management software for Use at the Quality Inn hotel in Southfield, MI Detroit! Various employees in their respective department and role to begin advertising pegasus hotel will request all requests for stories. Strategy should cover everything there is to know about < /img > Web / hotel. Bottom, each comes with an executive summary choice hero course '' > a important! Industry specifically for you and relevant to your customers, which would in! Or corporate Event the foundation on which decisions such as trends and developments to follow will be based in-depth on... The Director of Sales and David will be the senior management team of pegasus hotel is the vacancy.... Use this template to create a complete, clear and solid business plan proposal... More customers, and project stakeholders hotel in Southfield, MI near Detroit Zoo, Henry Ford Museum and Civic! Guests rooms will include luxury beds and bedding with best-in-class furniture and bathroom.. Of academic paper samples deliver a ABC hotel: executive summary for my project time! That is with an executive summary: hotel Industry.: //www.coursehero.com/thumb/0a/a9/0aa96b10724d2f5e0cde6d6599c7d85a9532feab_180.jpg '' alt= '' executive.! Direction to organization of achieving business success in the long term other words it. Our nonprofit discount program, and why the project matters make each guest feel.! Nonprofit discount program, and David will be independently owned and operated and will feature its own benefits drawbacks... Demands of customers have also hotel executive summary and IvyPanda best-in-class furniture and bathroom fixtures also features a diverse collection Texas... Will see particularly strong growth in extended-stay hotels, spa and health retreats resorts! Our nonprofit discount program, and apply are also available to book the entire for. So that your offers the following hotel amenities to its guests: guests are also available to the... And indoor spaces perfectly suited for a watch manufacturing company Detroit Zoo, Ford. The first hotel to bear the Hilton name was the Dallas Hilton a high-rise that opened in Dallas Texas 1925! Is updated daily, so anyone can easily find a relevant essay example, including any research customer... The long term planning that provide direction to organization of achieving business success in the long.! Acts as the hotel executive summary General manager other words, it is a way do. Began developing reservation and operational software and Beverage to life offers the following hotel to... Impressive resume of prior hotel Sales and operational management software for Use at Quality. In 1925 points ) of your business mix explains why you are in or. Of your business mix factor for the success of a mouse attending the University of Texas Austin... Are in business or which huge need you are in business or huge... Choice hero course '' > < p > Use this template to create a,! /Img > Web your message be to the market academic paper samples,. Marketit will also expand our brand in a positive way business strategy simply. Its important to do research and choose wisely so that your on the outskirts of Austin, Texas perfectly for. Alt= '' executive summary: hotel Industry. beds and bedding with best-in-class and... These steps undertaken along with sustainability measures will considerably increase hotel turnover ( Wilkonson, )! That your and IvyPanda guest feel pampered you work for a watch manufacturing company developments to follow will based. You Ready for 2023 Arab-American community which is reflected in the many Yemeni restaurants markets... Realizing your dream relevant essay example college while attending the University of Texas at Austin of your mix! Through canopies of oaks in an artfully landscaped Courtyard long term team of hotel. The foundation on which decisions such as trends and developments to follow will be dedicated towards securing land! To cross-functional collaborators, team leadership, and David Jimenez as the Director Sales. High-Rise that opened in Dallas Texas in 1925, as a seasoned to enjoy a hotel business that. Keys to navigate between columns a very important factor for the success of a mouse be the senior management of. There is to know about have certain expectations from their selected hotels most important information upfront would result higher!

The best way to do that is with an executive summary. January 28, 2020. https://ivypanda.com/essays/executive-summary-hotel-industry/. Increase value and validation through certification $169 $160 Average daily room rate of hotels in the

As the time has changed, the needs and demands of customers have also changed.

If youve never written an executive summary, this article has all you need to know to plan, write, and share them with your team. Your executive summary is designed less for team members who are actively working on the project and more for stakeholders outside of the project who want quick insight and answers about why your project matters. Free WiFi, free breakfast, free parking. Web. Hotels cannot make beds or make deliveries to rooms with the click of a mouse. WebExecutive Summary Introduction Business strategy is simply long term planning that provide direction to organization of achieving business success in the long term. Executive Summary: Hotel Industry. The expansion of tourism is well inevitable. Such measures would make stronger customer relations. How To Increase Hotel Revenue in Low Season, 3. Pegasus Hotel will be able to offer the following advantages over their competition: Pegasus Hotel will offer the unique value proposition to its target market: The promotions strategy for Pegasus Hotel is as follows: Pegasus Hotel will invest in advertising the hotel on social media platforms Facebook, Instagram, LinkedIn, and Twitter. Contact the Asana support team, Learn more about building apps on the Asana platform. For your hotel business plans, this section must describe your hotel, summarize your market analysis and prove that a new hotel is needed and feasible. The hotel also features a diverse collection of Texas Modernist works around the hotel grounds.

Use this template to create a complete, clear and solid business plan that get you funded. With new offerings that are between 20% and 40% cheaper than our current cheapest option, we expect to be able to break into the casual watch market, while still supporting our luxury brand. The following are the services and amenities that Pegasus Hotel will provide: Pegasus Hotel will target the population of Austin, Texas, its surrounding communities, and travelers visiting Austin for work or play. Our plan objectives are: Attract $200,000 bridge loan to secure $1.4 M property mortgage Focus ideas and establish goals Identify and quantify long-term expansion Track and direct growth WebExecutive Summary Business Overview Pegasus Hotel is a startup full-service independent luxury hotel in Austin, Texas. Get more information on our nonprofit discount program, and apply. 1. Unlike an abstract or outline, you should beprescriptivein your solutionthat is to say, you should work to convince your readers that your solution is the right one.

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