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How to Buy a Motel

How to Start a Hotel Business

❶Other major costs include repairs and maintenance, promotional costs, commission paid to agents, bookings and internet fees, accounting and legal costs, motor vehicle expenses, stationery and printing, insurance and other administrative and overhead costs.

How big is the hotel market?

A FREE Sample Hotel Business Plan Template
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Our product and service offerings are listed below;. Our vision is to become one of the leading boutique hotels — brands in Las Vegas — Nevada and all over the United States of America. Our mission is to deliver reliable, genuine, caring and excellent services superior to what our competitors can offer in any location where our boutique hotel will be situated and to ensure that our boutique hotel enjoys over 90 percent occupancy in most parts of the calendar year.

The success of any business is to a large extent dependent on the business structure of the organization and the people who occupy the available role. We will ensure that we put the right structure in place that will support the kind of growth that we have in mind while setting up the business.

We will ensure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stakeholders the owners, workforce, and customers. As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more.

In view of that, we have decided to hire qualified and competent hands to occupy the following positions;. Our plan of opening our boutique hotel in Las Vegas — Nevada is to test run the business for a period of 3 to 5 years to know if we will invest more money, expand the business and then spread our tentacles all over Nevada and key cities in the United States. We are quite aware that there are several boutique hotels, hotels and motels all over Las Vegas — Nevada and even in the same location where we intend locating ours, which is why we are following the due process of establishing a business.

We know that if proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be well equipped to confront our threats. So also, we have a management team that has what it takes to grow a new business to profitability within record time.

Just like any other business, one of the major threats that we are likely to face is economic downturn. Another threat that may likely confront us is the arrival of a new boutique hotel and even chains of hotels in same location where ours is located. The trend in the hospitality industry is such that there are peak periods and off peak periods, hoteliers know this and they have been able to make provision to properly handle the change in season.

For example, during summer or during any major sporting events or business summit, most hotels in Las Vegas are almost fully booked. As a matter of fact, that is the period that some hotel make the money that will sustain the business for the rest of the year.

Be that as it may, some boutique hotels are well positioned and they enjoy reach patronage all through the calendar months of the year.

Over and above, hoteliers are quite aware that they not in the industry for quick returns on their investments, but to steadily build a brand that can become a global brand while growing their profits year in year out.

There is hardly any organization who intends sending their staff members on official assignment or individuals or families going on vacation who would not need a place to lodge.

Most people that go on vacations or official assignments outside their locations look forward to the hospitality they will get when they lodge in boutique hotels cum hotels.

In view of that, we are in business to offer our boutique hotel services and amenities to the following groups of people and businesses;. A close study of the hospitality industry cum boutique hotel industry reveals that the market has become much more intensely competitive over the last decade. As a matter of fact, you have to be highly creative, customer centric and proactive if you must survive in this industry.

We are aware of the stiff competition and we are well prepared to compete favorably with other boutique hotels, chains of hotels and motels in and around Las Vegas — Nevada. Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category startups boutique hotels in the Boutique Hotels industry, meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.

We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time. We are in the Boutique Hotels industry to maximize profits and we are going all out to ensure that we achieve or business goals and objectives.

One thing is certain when it comes to boutique hotel services, if your boutique hotel is centrally positioned, you will always attract customers and that will sure translate to increase in revenue generation for the business. The sales projections are based on information gathered on the field and some assumptions that are peculiar to startups in Las Vegas — Nevada.

Please note that the above projection might be lower and at the same time it might be higher. We have detailed information and data that we were able to utilize to structure our business to attract the number of customers we want to attract per time. We hired experts who have good understanding of the Boutique Hotels industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Las Vegas — Nevada.

In other to continue to be in business and grow, we must continue to have clients book all our rooms which is why we will go all out to empower or sales and marketing team to deliver. As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand.

So, part of our strategy for entering the market is to leverage on pricing in gaining a good percentage of the available market. A price that probably will be the lowest in the industry. As a matter of fact, we intend jacking up the prices gradually until it falls at par with what is obtainable in the industry.

We intend achieving this within a year of launching the business. We are aware that there are contracts for long — term lodging by government, corporate organizations or big religious organization; we will ensure that we abide by the bidding pricing template when we bid for such contracts.

In view of the above, we have chosen banking platforms that will enable our clients make payment for amenities and services without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for booking our boutique hotel.

In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting a place, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive. This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business.

The next step would be to write a hotel business plan. However this is where most entrepreneurs get stuck. But until you finish your business plan, you will not be able to get the financing either. So you end up with ideas sitting in your head not realizing your dream. Really it is not that difficult to make a good hotel business plan. It is merely a structured summary of your idea. Most people try to include everything about their hotel concept in the plan.

This leads to an indigestible super novel like bookwork, aka a mess. They key is, knowing what to include, and what not to include in your hotel business plan.

Create a clear road map for success. Excite investors rather than bore them to death like most business plans full of redundant information do. And you need to lead readers down the exact path you want. For investors and lenders it is crucial they can quickly comprehend your plan, without reading the whole document. Executive Summary This exists of two parts: Operations Plan How will you run the hotel? How much staff and supervisors will you need? What background and experience should they have?

When should they start? What are your service standards? Will you develop manuals? Which supplier will you use? How will you manage inventory? If you are raising money, outline how much funding will be needed and when. Explain how you will generate a return on investment for investors, or when lenders will be paid back.

Key Milestones These are the most important achievement which once they have been completed, will make your hotel more likely to succeed. Each time one of the key milestones is achieved, the risk of lenders or investor decreases. And once your last key milestone is reached, chance of success is more or less guaranteed.


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Aug 10,  · How to Buy a Hotel Business. Owning your own hotel is a popular way to start a new business. Every year thousands of people, ranging from the retired couple to the lifelong hospitality professional, buy guest houses, hotels or 80%(35).

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According to the United States Bureau of Labor Statistics, the hotel industry is expected grow by 5 percent between and Like any business, starting a hotel requires careful research and planning before opening. The easiest way to do this is to create a detailed business plan for your hotel.

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Writing your business plan doesn't have to be a chore. Just check out these sample business plans for hotels and motels to get some ideas and inspiration. We put together a guideline / template of how to write a hotel business plan. Simply follow our example /5().

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How to Start a Hotel: 5 Keys to Success Starting a hotel requires careful choice of a location and strategy, a business plan, access to considerable financial resources, and a customer service mindset. Buying a hotel can be a complicated process, even with previous experience owning and running an establishment. The business-for-sale marketplace is v.