Cohortam001 Team 3 p2 Deliverable 3

AM001 Team 3
To: Senior Partners: Paul Benedict, Xiaohu Deng, Lori Marchese, Tom
Marchese
From: Team 3 of the Copeland Associates: Anthony Bartolomucci, Matthew

Brady, Caroline Bruce, Nicole Fillar, Ariann Lane, Cleo Louis
Date: April 9, 2017
Subject: A Step Away Inn & Suites Lodging Concept
On April 9th, 2017, the Copeland Associates requested that Team 3 design a business description,
detailed demand forecast, and functional plans for a business concept of our choosing. Through past
research of the hotel industry and our current research of competitors, we put together a report that
summarizes the feasibility of our hotel, A Step Away Inn & Suites. The following report contains a
detailed description of our concept and analysis of the hotel industry.
This was designed with analysis through:
Current trends in the hospital and hotel industries

The demand for more lodging locations in the Johns Hopkins area
Preferences and qualities of other major hospitals and hotels in the U.S.
Other business models from hotels in the industry
Functional Plans
Following the analysis are appendices including: a business model canvas, brand identity pyramid,
SWOT analysis, a business process model, financials, etc.
After continuous research, Team 3 has decided to focus on Johns Hopkins hospital and a building that
needs to be renovated 0.2 miles away from the hospital. This location will give A Step Away the best
opportunity for growth and accommodations for its target market.
We would like to thank the Copeland Associates Senior Partners for their insight and help through
this project. Team 3 is happy to answer any questions about this report that the partners may have.
The best point of contact is Anthony Bartolomucci who can be reached by email at
ab251714@ohio.edu.
Sincerely,
Team 3
AM001 Team 3
Anthony
Matthew Brady
Bartolomucci
Caroline Bruce Nicole Fillar
Ariann Lane Cleo Louis

AM001 Team 3
A Step Away Inn & Suites Lodging Concept
Prepared for: Paul Benedict, Xiaohu Deng, Lori Marchese, Tom Marchese
Prepared by: Anthony Bartolomucci, Matthew Brady, Caroline Bruce, Nicole Fillar,
Ariann Lane, Cleo Louis
Cohort AM001 Copeland Associates: Team 3
April 9th, 2017

Table of Contents
Section Page Number
Introduction 1
Overview 1
A Step Away Inn & Suites 1
Demand Forecast 1
Industry Analysis 2
Mature, Growing Industry 2
Disruptors in Lodging 2
Medical Tourism 2
Business Description 3
How We Came to Be 3
Who We Are 3
Strategic Direction 3
Where Are We? 4
Business Model 4
SMART Goals 5
Target Market 5
Competitors 6
Hospitality Homes For Patients 6
Ronald McDonald House 6

Table of Contents
Section Page Number
Believe in Tomorrow 6
Hackerman Patz Pavilion 6
Long-Term Housing 7
Hotels in Baltimore 7
Demand Forecast 8
Hotel Comparisons 8
Secondary Demand 9
Marketing Plan 10
Brand Value 10
Situational Analysis 10
Implementing Marketing Mix 10
Promotion 11
Management Plan 12
Management Team 12
General Manager 13
Shift Managers 13
Operational Staff 13
Cleaning Staff 13
Table of Contents
Section Page Number
Operational Plan 14
Supply Chain 14
Day to Day Functions 14
Preparation 15
IS Plan 16
Operational Software Decision 16
IQWare PMS 17
Operations 17
Guest Profiles 17
QuickBooks 18
Hardware 18
Financials 19
Current and Future Standing 19
Growth Projections 19
Expenses 19
Conclusion 20
References 21-25
Appendices 26-
Appendix A: Business Model Canvas 26

Table of Contents
Section Page Number
Appendix B: Brand Identify 27
Appendix C: SWOT 28
Appendix D: Demand 29
Appendix E: Management Plan 30
Appendix F: Business Process Model 31
Appendix G: Business Process Model 32
Appendix H: Financial Dashboard 33
Appendix I: Operations and Management Dashboard 34
Appendix J: Marketing Dashboard 35
Appendix K: IS Triangle 36
Appendix L: Software Decision 37
Appendix M: Google Ad Concept 38
Appendix N: Kitchen Concept 39
Appendix O: Floor Plan- PreRenovations 40
Appendix P: Floor Plan- PreRenovations 41
Appendix Q: Floor 1 Remodeled 42
Appendix R: Floor 2 Remodeled 43
Appendix S: Floor 3 Remodeled 44

Table of Contents
Section Page Number
Appendix T: Social Media 45
Appendix U: Johns Hopkins Website 46
Appendix V: A Step Aways Website 47
Appendix W: Johns Hopkins Magazine Ad 48
Appendix X: Pro Forma Balance Sheet 49
Appendix Y: Pro Forma Income Statement 50
Appendix Z: Pro Forma Cash Flow/ Required Rate of Return 51
Appendix AA: Required Rate of Return Cont./ Expenses 52
Appendix AB: Expenses Cont. 53
Appendix AC: Expenses Cont. 54
Appendix AD: Expenses Cont./ Depreciation 55
Appendix AE: Depreciation Cont. 56
Appendix AF: Amortization by Quarter: Building 57
Appendix AG: Amortization by Quarter- Renovations 58
Appendix AH: Renovations Breakdown 59

Tables and Figures
Figure Number Title Page Number
1 Demand Forecast Summary -
2 Financial Outlook -
3 A Step Away Billboard 1
4 Hotel Revenue 2010-2018 2
5 # of Hospital Beds in the U.S. from 1975-2014 2
6 A Step Away Kitchen Area 3
7 A Step Away Common Area 3
8 A Step Away Location 4
9 Target Market #1 5
12 Target Adult Patients & Families 6
13 A Step Away Location #2 7
14 Primary Research 8
15 Secondary Research 9
16 Location 10
17 Room Price 10
18 Promotion Costs 11
19 Blanket Example 11
Tables and Figures
20 Employment Chain 13
21 Daily Functions 14
22 Work Breakdown Structure 15
23 Operational Software Decision 16
24 Room Availability 17
25 Housekeeping Chart 17
26 Payroll Feature 18
27 Hardware 18
28 Financial Outlook 19
29 Profit Margin 19
30 Sales Growth 19
31 Demand Forecast Summary 20
32 Financial Outlook 20
33 Primary Demand 29
34 Employee Schedule 30
35 Business Process Model 31
36 Occupancy Rate 33
37 Employee Turnover Rate 34
38 Employee Satisfaction 34
Tables and Figures
39 Website Conversion Rate 35
40 Advertising Methods 35
41 IS Triangle 36
42 Google Ad Concept 38
43 Kitchen Concept 39
44 Floor Plan 40
45 Floor Plan 41
46 Floor Plan- Renovated 42
49 Facebook Page 45
50 Johns Hopkins Website 46
51 A Step Aways Website 47
52 Magazine Ad 48
53 PF Balance Sheet 49
54 PF Income Statement 50
55 PF Cash Flows 51
56 Required Rate of Return 51
57 Required Rate of Return Cont. 52

Tables and Figures
58 Expenses 52
59 Expenses Cont. 53
60 Expenses Cont. 2 54
61 Expenses Cont. 3 55
62 Depreciation 55
63 Depreciation Cont. 56
64 Amortization- Building 57
65 Amortization- Renovations 58
66 Renovation Breakdown 59
Executive Summary
THE HOTEL DEMAND FORECAST
A Step Away: Never be more than a step away. After collecting both primary and secondary data, the
Sometimes the worst thing imaginable happens and the table below summarizes projected revenues and
most important thing in your life, your family member, occupancy rates for A Step Away. The primary demand
has to go to the hospital. You never want to leave their predicts an average revenue of $1,278,777 based on
side, but an extended stay will drain your energy and 22 rooms and between $150-200 per night. The
make it hard for you to stay positive for your loved one. secondary demand predicts a occupancy rate of 93%
based on only 71 units available currently within 1 mile
A Step Away will give customers a close place to take an and a wait list of minimum 1 day for hotels already in
opportunity to rejuvenate from this hard time they are the area. Also based on the average number of
going through. We provide a home-like environment for searches in Google, there are more searches for hotels
families to recoup and relax. Our hotel provides enough near Johns Hopkins than offered in the area.
space for several family members. There are also Figure 1: Demand Forecast Summary
community kitchens on each floor that provide an
opportunity for families to come together and cook Primary Data (60%)
comfortable meals instead of eating hospital food every Average Revenue (365) $1,278,777.00
day. There will also be a fitness area for guests to relieve Average Occupancy Rate 91%
stress and remain healthy during their stay.
Secondary Data (40%)
The location for this facility will be in Baltimore, Average Revenue (365) $1,250,000.00
Maryland, 0.2 miles away from Johns Hopkins Hospital Average Occupancy Rate 93%
targeting the families of inpatients. There are only two Weighted Average
housing options within 1 mile of Johns Hopkins and they Average Revenue (365) $1,267,266.00
both have above industry average occupancy rates and
waitlists of a day or longer. Johns Hopkins is a popular Average Occupancy Rate 92%
hospital in the United States, with Johns Hopkins
hotels being searched on Google between 100-1,000
times a month (Google AdWords, 2017). There are only
MARKETING PLAN
71 units available within 1 mile of Johns Hopkins A Step Away offers a need-based product leading to
Hospital. a specific target market. Our biggest strength is that
we are in very close proximity to Johns Hopkins
INDUSTRY ANALYSIS Hospital. Some of our competitors are non-profit, to
combat that we are focusing more on people that
The lodging industry as a whole is a $550 billion
are forgotten by these places. Our product is a hotel
industry with $225 billion concentrated in the United
within walking distance from one of the worlds best
States (Statista, 2017). Hotels make up $490 billion of
hospitals that offers a lot of amenities to our guests.
the lodging industrys revenues. Medical tourism is a
growing trend for people trying to receive the best
We felt to get the best reach for the best price, it
health care possible. Between $60 and $70 billion
was most important to focus our marketing, so that
dollars were generated from medical tourism in the
we show up on Googles first page. We use our
U.S. in 2015 (Health Tourism, 2017). This is expected
partnership with the hospital to get ourselves put on
to double in the next five years.
their website. To reach people in the hospital, we
will be advertising in Johns Hopkins Health Review
U.S. spending on health increased by 5.3% in 2014,
magazine of which there are hundreds of copies
making it over a $3 trillion dollar industry. Rural
placed throughout the hospital. Blankets will also be
hospitals in the United States are also closing, with a
donated to the hospital with our logo and contact
growing appeal for large, urban hospitals (Dietsche,
information printed on them.
2016).
Executive Summary
MANAGEMENT PLAN MIS PLAN
The MIS plans for A Step Away were decided after
careful consideration of the necessary operations.
A strong management team is needed to develop
First, we compared three software systems that offer
the idea of A Step Away. Six top managers/investors
well-known property management systems for
will make the risky decisions for the company and be
many hotels. These systems are
the most effected by its wins and losses. This team
Inn Quest, Ezee Absolute and IQWare.
will over see the rest of the staff and continue to
Ultimately IQWare was chosen because of its low
persuade them to deliver the best customer service
total price of $3,474 a year. It also has the programs
to A Step Aways guests. Under the top managers
necessary to efficiently operate A Step Away,
are the general managers, shift managers,
including: a reservation center, front desk
operational staff, and cleaning staff. Together, they
operations, inventory management, and integration
run the day to day functions of A Step Away. It is
with Quickbooks for accounting. This system is also
crucial for them to up hold the best customer service
cloud based which allows A Step Away to save money
for our families and to cater to their needs as best as
on hardware and increase efficiency. Finally, it
possible. They are also responsible for
provides daily reports of occupancy and financials
communicating needs and wants of guests to the
that assists in decision making.
higher managers. They will be working multiple
It was determined that occupancy rate, website
different shifts through out the week with various
conversion rate, and employee turnover rate
salaries. Each employee of A Step Away is expected
would be appropriate metrics in evaluating
to keep a positive attitude and perform their duties
performance. These metrics allow the company to
to the managers expectations.
see its success financially, operationally, and on
marketing platforms. Hardware decisions were made
on moderate pricing, with a total cost of $1,199.95.
OPERATIONAL PLAN FINANCIAL PLAN

The operational plan breaks down the supply chain, A Step Away is expected to be a feasible and
day to day functions, and a work breakdown profitable company based off of the projected
structure for the days before opening. The supply financials located in appendix CCC. We will require a
chain explains how materials will be ordered and total of $2,599,689 to start our business venture,
who they will be ordered from. It is an expectation and have a 7 year plan to finance our debt. Profit
of cleaning staff to report most of the supply needs margin is expected to steadily increase from 16-22%
for A Step Away. Consumers will not have the option for the first three years until our occupancy rate
of cleaning sheets everyday or having their room stabilizes at 91%. All financial records are based off
cleaned everyday, this will decrease our supply of demand scenario one, where rooms are priced at
costs. Day to day functions include check in at $150/ night, and a 91% occupancy rate.
2:00pm and check out at 10:00am. The work
breakdown structure describes what is needed in Figure 2: Financial Outlook
preparation of the first opening of A Step Away. The Net Present Value $ 654,055
hotel will start advertising and hiring many months
in advance. There will be a soft opening of a few Internal Rate of Return 20.86 %
rooms on November 10, 2017. After adjustments are
made, a full marketing mix will be implemented and Payback Period 4.17 years
a hard opening of all the rooms at A Step Away will
take place. Weighted Cost of Capital 14.23 %
Introduction
OVERVIEW The purpose of A Step Away Inn & Suites is to give

When creating our business concept, the problem families a home away from home, something they
that family and friends of loved ones in the hospital cannot get at a hospital. We want to ensure our
face became evident. This report consists of a guests feel comfortable and remain stress-free during
structured outline that models our business concept their stay. We do this by tending to each and every
of A Step Away. guests wants and needs specific to their situation.
Figure 3: A Step Away Billboard
DEMAND FORECAST
In this report, our focus will be on the potential
demand for a business similar to A Step Away. In our
demand forecast we looked at comparable
businesses and competitors and analyzed them on
metrics such as occupancy rate, average nightly cost,
and size. For the first approach we will be able to
calculate potential demand based on a weighted
average between the two primary research
approaches. For secondary research we will be able
to calculate demand based on occupancy rate and
waitlist times. The second approach based on
secondary research will be to compare google
searches with number of units available in the area.
This will show that demand is high in the John
Hopkins area.
A STEP AWAY INN & SUITES THE PLANS
Having a loved one in the hospital can be a stressful This report will also include detailed plans including a
time, leaving families restless and exhausted. It can marketing plan, management plan, operational plan,
be extremely difficult to find a comfortable place to information systems plan as well as complete
stay during these tough times. Lodging options near financials for the company. These plans are
hospitals can fill up fast, leaving people scrambling to strategically chosen and budgeted due to our
find a decent place to stay nearby. At A Step business model in the most financially responsible
Away, we combine comfort and proximity to give way. Within the marketing plan, media is chosen as
guests a home-like environment to keep them as well as digital platforms developed. The management
rested and relaxed as possible. Families are able to and operational plans provide information on the
escape to their own space and rejuvenate themselves hotel's leadership and the roles of every employee.
with a queen/king sized bed, a fully furnished bath The MIS plan delivers information about the specific
room, fitness center, and a kitchen. A Step Away is just software and hardware that will operate the hotel
a walking distance to ones little trooper or loved and who will utilize it. Finally, financial statements will
one. There is no need to feel a sense of guilt as guests show the feasibility and success of A Step Away.
can be closer to their loved ones than other lodging
options can provide. 1
Industry Business Demand A Step

Introduction Conclusion
Analysis Description Forecast Away Plans
Industry
Analysis
MATURE, GROWING INDUSTRY MEDICAL TOURISM

The lodging industry consists of establishments which Some of the major segments in the lodging industry
offer accommodations for overnight travelers. It is a include: hotels, motels, bed & breakfasts, hostels, short-
$550 billion dollar industry worldwide and is in a term rentals, as well as hospitality homes that
mature lifecycle. According to Statista, about $225 specifically target medical patients and their families. In
billion dollars of the lodging industry were generated in recent years, an increase in medical tourism has driven
the United States alone in 2015 (Statista, 2017). In the need for hospitality homes and lodging near
2016, hotels were estimated to have accounted for hospitals. In 2015, medical tourism generated between
$490 billion in revenues. Figure 4 shows hotel revenue $60 and $70 billion in the United States. These numbers
from 2010 to 2018. According to Statista, hotel are expected to double in the next five years (Health
revenue is projected to grow at steady 2.5% each year Tourism, 2017). Total U.S. spending on health increased
(Statista, 2017). by 5.3% in 2014 making it an over 3 trillion dollar
Figure 4: Hotel Revenue 2010-2018 industry (Dietsche, 2016). There are currently 5,686
600 hospitals in the United States, with only 272 having over
500 beds. (Dietsche, 2016). Rural hospitals have been
400 facing difficulties in recent years, with 72 closures
between 2010 and 2016 (Wishner, 2016). Patients are
instead choosing to visit newer, larger, and more
200
prestigious hospitals for better care. With the
elimination of many local level hospitals, travel to urban
0 hospitals is expected to increase even more. The decline
2010 2012 2014 1 2015 2016 2018 in hospital beds in the U.S. since 1975 can be seen in
Statista, 2017 Figure 5.
Figure 5: # of Hospital Beds in the
DISRUPTORS IN LODGING 2000000
U.S. from 1975 to 2014
Airbnb is a growing leader in the lodging industry,
offering home rentals at low prices to travelers. Airbnb 1500000
was founded in 2008 and has grown rapidly since, with 1000000
about a 750% growth from 2009 to 2014 (Mintel,
2014). It impacts traditional lodging operations 500000
significantly, with every 10% growth for Airbnb leading 0
to 2-3% in revenue losses for hotels (Mahmoud, 2016). 1975 1980 1990 1995 2000 2010 2014
Vacationers and business travelers are increasingly Statista, 2015
drawn to Airbnb for its ability to create a home-like Academic Medical Centers are often the most sought
atmosphere and provide a more authentic guest after hospitals for people with complex conditions
experience. Online Travel Agencies are also making because of their access to research, as well as the many
changes in the lodging industry and are projected to specialists and sub-specialists they can provide.
control 52% of the U.S. booking market (Siteminder, According to Forbes, Mayo Clinic, Cleveland Clinic and
2016). With more OTA bookings, hotels are using Johns Hopkins Hospital are the most traveled to
loyalty programs and other creative methods to hospitals in the United States (Forbes, 2009).
encourage guests to book directly. 2
Industry Business Demand A Step Conclusion

Introduction
Business
Description
HOW WE CAME TO BE Figure 6: A Step Away Kitchen Area
In our personal lives, either we or someone we know,

has had a loved one in the hospital. Families have to
sleep in the lobby or try to find a hotel that is a couple
of miles away. Hospitals dont often allow more than
one family member to stay in a hospital room
overnight, and dont allow children to stay either. Most
hotels can be far away from hospitals, inconvenient to
stay at and book, and dont provide a warm, caring
home that these families need. There is a high demand
in this market that is undercapitalized, especially
around the busiest hospitals. We are starting A Step
Away to give families a place to go that is close to their Figure 7: A Step Away Common Area
loved one, home-like, and a charging station for
positivity.
WHO WE ARE
A Step Away is the affordable housing option for
families with a patient at Johns Hopkins Hospital. Our
location is less than a half a mile from the hospitals
main entrance, making it quick and easy for family
members to get there. We offer a place for them to
destress and unwind from the septic and cold
environment of the hospital. Guests will feel relaxed
and tended to, whether they are visiting for one night
or an extended stay. Each room provides the amenities STRATEGIC DIRECTION
to make it convenient, spacious, and comfortable for
guests. The rooms include: complimentary Wi-Fi, a A Step Away has the goals to become the most popular
bathroom fully furnished with shower, sink, and toilet, housing option for families of patients to stay at during
a television, digital picture frames, a work area, a tough times. We will become the most popular lodging
queen/king sized bed, a closet and dressers. We also option because our location is most convenient,
focus on having a common space so that guests can modestly priced, and provide services that no other
spend time together with people in similar situations. hotel in the area does. We will strategically position
This area will include a warm and welcoming kitchen, several advertisements in places like Johns Hopkins
eating area, and living space. Figures 6 and 7 in the Hospital, their website, bus stops, and bill boards. We
next column show what we plan these spaces to look also plan to use search engine optimization to attract
like. The idea is to have a home-like feel for our guests, more potential customers who are looking for a close
so they can destress during their difficult time. and convenient location near the hospital.
3

Introduction Away Plans
Analysis Description Forecast
Business
Description
WHERE ARE WE? BUSINESS MODEL

We are located at 400 N. Castle Street Baltimore, MD A Step Away generates revenue through the sale of our
21231. Our location is 0.2 miles away from The Johns rooms, which includes a complimentary shuttle service.
Hopkins Hospital in Baltimore and was acquired for In order to generate more sales, we will have several
$590,000. However, the building will need renovations. strategic partners that provide discounted activities
With renovations we can have around 22 rooms and outside of the hospital and hotel. This will allow
will have space for other areas, which includes: a families relax, unwind, and spend time together
common area, a kitchen, and a fitness center. The outside of the two places they visit most.
building is 14,110 sq. feet with a parking lot located
immediately across the street. Our company will require a large amount of human
capital to run the business. This will include a senior
As one can see in Figure 8, the light tan building is A manager, assistant managers, secretaries, and other
Step Away Inn & Suites. Johns Hopkins Hospital can general employees. We will also rely on a large amount
actually be seen in the background of the image. It is of physical capital. Physical capital includes items like
the large red and blue building on the left side. This the building/ parking lot, kitchen equipment, laundry
shows how conveniently located our Inn & Suites is to equipment, computers, shuttle bus, hotel room
the hospital. In the bottom right corner of the image is amenities, etc. All of these functions are what make
a red brick wall, which is our parking lot area. our hotel so great.
Figure 8: A Step Away Location

Business
Description
Mission Statement: Vision Statement: Value Proposition:
At A Step Away our mission is to provide Our vision is to give the A Step Away provides a close,
families with loved ones in the hospital a families of hospitals comfortable, customer-oriented
close, comfortable, and homelike lodging inpatients the ability to bring housing option for the family
option that provides a sense of back a positive attitude day members of inpatients where
community among guests and a place to after day. they can recharge their positivity.
recharge positivity all while being within
walking distance of your loved one.
SMART GOALS John and Barbara are the 35 year old couple with
Achieve an occupancy rate of 85% or higher by year their 7 year old in the hospital.
three Figure 9: Target Market #1
RevPar higher than the U.S. industry average of
$81.19 (Statista, 2017)
Obtain a 4 out of 5 star rating on customer reviews
Reach $1 million in sales by the end of year 1
Donate 1% of profits to a local charity
We can accomplish our goals by having a strong

business model and a set of core values that we can Cassandra is the 48 year old daughter of an ill
refer to in any situation. We will measure success as a woman that is in the hospital.
company based off customer satisfaction. We will talk Figure 10: Target Market #2
with customers after their stays and figure out what we
can do to improve the experience for future guests. We
will use Survey Monkey to conduct these surveys
because it is a free, trusted brand. The Survey Monkey
will have statements that the guests can show the
degree at which they agree with them. There will also
be a comment section where they can say what was
good and bad about their stays.
Jim is the father of two children with his spouse in
TARGET MARKET the hospital.
Johns Hopkins Hospital has 25 nationally ranked Figure 11: Target Market #3
specialties leading to 23,647 inpatient surgeries in a
year. Our target market is the families of inpatients
who need a place other than the hospital to stay.
Our target market covers any type of family situation
whether it be your child, spouse, parent, or sibling
that is in the hospital. 5

Introduction Conclusion
Competitors
HOSPITALITY HOMES FOR PATIENTS requested stay and wait lists can be lengthy. Last year
the Baltimore Ronald McDonald House
Many of the competitors near a prestigious hospital accommodated families from 45 states and 22
like Johns Hopkins are charitable organizations that countries. They have a 100% occupancy rate and their
provide housing to either children, adults, or families to website quotes, For every family we help, dozens
help them cope with illness. The issue with non-profit more are turned away (Ronald McDonald, 2017).
houses are the high occupancy rates, extensive wait
lists, and strict eligibility requirements that do not allow BELIEVE IN TOMORROW
all patients and families to receive the same level of The Believe in Tomorrow Childrens House is a similar
care. Figure 12: Targeting Adult non-profit organization that offers free housing to
Patients & Families
families with sick children visiting Johns Hopkins
Hospital. It can accommodate up to 15 families per
No Waitlists Waitlists & night. They focus much of their efforts into
or Eligibility community building within the house, providing
Eligibility Requirements family support and volunteer lead activities. To be
Requirements eligible for housing at the Believe in Tomorrow house
a patient must be 17 years old or younger and the
family must live at least 60 miles from the hospital.
Targeting Child Patients & They are conveniently located two blocks away from
Families Johns Hopkins and provide guests with a variety of
services like kitchens, recreation, and van services.
RONALD MCDONALD HOUSE Waitlists for this program are often long and to
qualify patients must be referred by a member of the
The Ronald McDonald House in Baltimore is the only JHH medical team. Prospective guests are not
Ronald McDonald House in Maryland. It can currently contacted unless their request can be fulfilled
accommodate 36 families each night with 1,451 (Believe in Tomorrow, 2017).
families that come through each year. This hospitality
house specifically targets pediatric patients and their HACKERMAN PATZ PAVILION
families. The house can provide a community for the The Hackerman-Patz Patient and Family Pavilion is a
hospital patients and their families without charging for low cost, short and long term house for adult cancer
their stays, but they typically ask for a $15 donation patients. All guests must be at least 12 years of age
each night. With a high demand and little space, the and each patient requires a caregiver that is at least
house implemented a priority criteria eligibility process 18 years old. The Pavilion offers suite
with first priority being oncology families, second being accommodations at $60 per night and apartments for
shock trauma and children awaiting transplants, and $87 a night. This housing option is intended to give
third being all other families. Oncology and shock cancer patients comfort in their time of need and
trauma families have no distance requirement but all often has a lengthy wait list. All guests must stay for a
other families must live 30 miles or more from the minimum of three nights and are unable to have any
house. Rooms can be requested by social and children stay over night. The Hackerman-Patz Pavilion
caseworkers of the hospital where the child is being is located directly across the street from the Harry
treated. Availability is not made known to patients in and Jeanette Weinberg Building, the cancer center
the United States until 48 hours before their 6 (Johns Hopkins, 2017).

Competitors
LONG TERM HOUSING HOTELS IN BALTIMORE

For patients with chronic illness, long term housing Johns Hopkins Hospital also provides a listing of many
might be necessary for longer periods of treatment. different hotel options in the area. Many of the local
Johns Hopkins provides a list of nearby approved hotels offer discounted prices for hospital patients,
apartment and townhouse options to choose from varying from place to place. There are a few hotels that
including: BridgeStreet Accommodations, Chase are within one mile of the hotel, such as the Holiday
Street Properties, and McElderry House Lodging Inn Express, Hotel Indigo, Hyatt Place, and Sleep Inn &
among others. These long term lodging options Suites. The proximity to the hospitals campus give
provide fully furnished apartment complexes in close these hotels the best competitive advantage for
proximity to the hospital. The McElderry House reaching patients and their families. However, none of
specifically targets the Johns Hopkins patients, these hotels are as close as A Step Aways Location.
families, and doctors. There are ten different Figure 13 shows a variety of regular hotels in
townhouses in this establishment that each includes a comparative proximity to the hospital and our location.
kitchen, washer, dryer, linens, and books. They also Baltimores average hotel occupancy rate experienced
provide a free shuttle to the Johns Hopkins medical a dip in 2013, but is currently growing with a 5.4% rise
campus. The houses can either be rented out by from 2015 to 2016 (Glover, 2016). Although a
room or by the entire private town house. Rates by traditional hotel can offer a nice place to sleep, these
size range from $66 to $250 a night. The owners also places can not customize guest experiences according
offer a discounted price on some of their townhouses to their situational needs or give them the sense of
after a ten night stay (Johns Hopkins, 2017). community with people facing similar difficulties.
Figure 13: A Step Away Location #2
Johns Hopkins Hospital
Our Hotel

Demand
Forecast
HOTEL COMPARISONS
When considering the demand for a hotel near a hospital the size of Johns Hopkins, it was important to
look at the other leading hospitals in the United States. The top three hospitals include: Mayo Clinic,
Cleveland Clinic, and Johns Hopkins. When looking at hotel demand in those areas we needed to look at
the number of rooms that hotels near the hospitals had and the occupancy rates for those hotels, see
Figure 14. From that, we could find their revenue from hotel bookings by multiplying the number of
rooms by average night cost, times 365 days a year, times the occupancy percentage. Other variables in
the charts above and below are considered to show necessary services in these areas. The weights are
based on their relevance to A Step Aways platform. To find details for A Step Away, averages of the other
locations were taken and considered based on our location and square feet. More hotel comparisons can
be found on page 29 of Appendix D.
Figure 14: Primary Research
The Kahler Ronald McDonald McElderry House Hackerman Patz Patient 1st: A Step 2nd: A Step
Grand Hotel House Lodging & Family Pavillion Away Away
Baltimore,
Location Rochester, MN Cleveland, OH Baltimore, MD Baltimore, MD Baltimore, MD MD
Hospital John
Affiliation Mayo Clinic Cleveland Clinic Johns Hopkins John Hopkins John Hopkins Hopkins
Average Night (80) 20$ donation
Cost $83 requested $66-250 $60-87 $150 $200
Number of
Rooms 616 55 17 Townhouses 39 22 22
Average # of
Nights 2 or 3 22 9 or 10 30 9 or 10 9 or 10
# of
Inpatients
Annually 123,000 164,704 115,000 115,000 115,000 115,000
Waitlist None None None 3 days None None
No (above
ground
Shuttle walkway) yes yes yes yes yes
Distance from
Hospital 1.1 miles 7.8 miles 0.5 0.1 miles 0.2 miles 0.2 miles
Focus Any body Families Families Families Families Families
Type Midscale Hotel Bed & Breakfast Townhouses Suites or Apartments Suites Suites
Revenue
(365) $15,862,462 $1,429,340 $1,318,562 $1,187,550 $1,096,095 $1,461,460
Occupancy
Rate 80-90% 89% 85% 100% 91% 91%
Weight 10% 15% 40% 35%
8

Demand
Forecast
SECONDARY DEMAND
Figure 15: Secondary Research
Number of available rooms

71 units
within 1 mile of hospital:
Average occupancy rate

95%
Average waitlist time

1.3 days
Average number of Google

searches for Hotels Near Johns 100-1,000
Hopkins Hospital per month:
Average percentage of clicks on

first page, organic listings: 90%
Average room price within

$200
1 mile of hospital:
Expected Revenue: Expected Occupancy

$1,000,000 1,500,000 Rate: 93%
9 Appendix D page 29

Introduction
Marketing
Plan
BRAND VALUE They can also head to the common area to socialize and
play cards or hang out with other guests. If they are not
A Step Aways brand value is primarily in the close
in the mood to be around other people, they can head
proximity to Johns Hopkins hospital. During the difficult
up to their rooms, take a nice warm shower, and cozy up
time of having a loved one in the hospital, our mission is
in their bed for a movie.
to provide families a close, comfortable, and homelike
lodging option that provides a sense of community
among guests and a place to recharge positivity. Place
We are located 0.2 miles away from Johns Hopkins
Hospital; one of the worlds best hospitals, 1.8 miles
SITUATIONAL ANALYSIS from Downtown Baltimore, 15 miles from Baltimore/
Internally, A Step Away has a prime location in an Washington International Airport, and 1.7 miles away
industry that is unaffected by seasonality, as well as a from Baltimore Pier 6, which is known for attractions,
target market that is relatively untapped in this area. We like National Aquarium and Ripleys Believe it or Not.
offer very useful amenities to over stretched guests.
Unfortunately, A Step Aways target market is very Figure 16: Location
specific and its service primarily serves unique needs.
This makes finding new ways to persuade people
difficult, especially until the brand becomes more
recognizable. With this in mind, our hotels marketing
efforts will use a pull strategy by attracting visitors of the
hospital using materials from within. Externally, we have
the opportunity to solve a huge problem for many
hospitals. With very few businesses being run with the
same target and model as ours, expanding to other major
hospitals in the country is a possibility. A weakness that A
Step Away faces is the competition of non-profits.
Although they fill up quickly and have long waitlists, they Price
offer extremely low prices that are desirable for guests. In crisis situations consumers price sensitivity is cut in
half, which means they make a decision in an
IMPLEMENTING MARKETING MIX emergency situation, therefore, they do not care as
Product much about the price (Plake, 2016) . Our prices are as
With their purchase, our guests will be welcomed into follows in Figure 17:
one of our 22 rooms where they will be given a number Figure 17: Room Price
to our 24 hour shuttle service, access to our 24 hour
fitness center, a pass for our parking lot, a map of the Guests Guests
nearby Patterson park (including jogging trails and affiliated w/ unaffiliated w/
distances), and a set of coupons to our partnered Johns Hopkins Johns Hopkins
companies. When guests come back to A Step Away 1 King Bed $160 $200
after a long day at the hospital, they are able do many
2 Queen $150 $190
things. They can throw on their pajamas and go use our
Beds
kitchen to make themselves and their family a nice
meal. 10

Introduction
Marketing
Plan
PROMOTION book through our webpage. Our website has a blog

With the specific target of Johns Hopkins patients and where people can talk about their stay and it also
families, most of our promotions will take place through mentions our partnerships that we have. After talking
Johns Hopkins media and at the hospital. Figure 18 with Dave Greenberg, he suggested we do everything
shows the percentage of the marketing budget that is we are able to do to market without spending money,
used for each promotion effort. which is why we used search engine optimization
Figure 18: Promotion Costs instead of Google Adwords.
Percent of Budget Medium Social Media

$4,500 = 45% Magazine We made a Facebook page where guests can review
us and find information about our location. We chose
$5,486 = 55% Promotional Blankets Facebook based on its relevance to our target market.
Our Facebook page is connected to our website so if
$14 < 1% Website people are on our website they can find our Facebook
and vice versa. They can like us and stay updated on
Johns Hopkins Hospital Website promotions/etc. we are doing. We will also use the
Our partnership with Johns Hopkins will allow us to be Facebook to check back with our previous guests to
featured on their website where people are often see if they are still doing well, in hopes that they
directed when they go to the hospital. This allows them recommend us to friends if they know someone who
to directly click on our link from their website. They can is going to the hospital.
click on nearby hotels and see us in comparison to all of
our competition. Philanthropy Blankets
In order to receive good PR we will be making
Johns Hopkins Health Review blankets with our logo on them and our information,
We will be putting a full page ad in Johns Hopkins and will be donating them to the hospital to put in
Health Review, which is a magazine with a huge reach. their rooms. Our budget allowed 150-160 blankets
They print 35,000 copies which are mailed out which guest will see and relate us with a place that is
everywhere with 40% of the readers in the Baltimore/ warm and caring.
Washington/ Virginia Area. The main reason we are Figure 19: Blanket Example
advertising in this magazine is because several hundred
copies will be placed throughout the hospital where
patients and their families can see it. Also the magazine
goes to Johns Hopkins faculty and leadership where
they will be able to know about us in case patients ask
them about a place to stay. This magazine will be run
three times a year at $1,500 per ad.
1-(410)-555-5555
A Step Away Website
Using search engine optimization, our website will be
on the first page of Google when you search Hotels
near Johns Hopkins hospital. Guests can direct 11

Introduction
Management
Plan
LEADERSHIP
CHIEF FINANCIAL LEADER VICE OPERATING LEADER CHIEF MARKETING LEADER
CHIEF INFORMATION SYSTEMS LEADER
VICE FINANCIAL LEADER CHIEF OPERATING LEADER
The leadership team above are the sole owners of A Step Away. They founded the corporation and have
made the largest investments towards its future. As Chief Managers they are responsible for reacting to
their customers wants and needs to better the company. Together they make executive decisions based
on demand. Together they will receive 10% of the companys profit and will be the ones most effected
by the companys satisfaction rates. This team will meet quarterly to discuss the direction of their
business. Managers at A Step Away will also have the opportunity to reach out to them for anything
they may need.
12

Management
Plan
GENERAL MANAGER This individual is also responsible for the shuttle
A general manager has the opportunity to take on service provided by A Step Away. This requires
a full-time position with a $40,000 salary. Skill him/her to have a valid drivers license and
requirements for this position include budget constant communication with guests on drive
management, operations management, times.
leadership, customer relations, and customer
service. This individual needs a developed CLEANING STAFF
understanding of the hotel and hospital industry This is considered a full or part-time position with
as well as an in-depth understanding of A Step an hourly rate of $10. They are responsible for
Aways mission and vision. A clean criminal record room upkeep and preparing for guest
and previous experience is required for this accommodations. Experience with cleaning
positon. equipment is not required but preferred. They
SHIFT MANAGERS may be required to assist with broken equipment
or furniture and must be able to lift at least 30
This position is considered an assistant to the pounds. Cleaning staff will still be responsible for
general manager. There will be one assistant upholding A Step Aways customer service
manager per shift, in a full-time positon with a standards and be willing and ready to work in a
salary of $35,000. Training, accounts receivable, fast pace, changing environment.
customer relations management, operations
management, and customer service are necessary Figure 20 represents the line of command at A
skills for this positon. Past experience, clean Step Away Inn and Suites. For more information
criminal record, and weekend availability is on employment scheduling and employee
needed for this positon. This individual must also benefits refer to Appendix E on page 30.
have a thorough understanding of A Step Aways
Figure: 20 Employment Chain
strategy.
OPERATIONAL STAFF General Manager

As an operational staff member, an individual
would earn $10 an hour with an opportunity to
increase based on performance. There will be 1
to 2 employees per shift, with 12 hour shifts. This Morning Manager Afternoon Manager
individual will need to be willing to work
weekends and may be considered either part-
time or full-time. To be considered for this
positon the individual must have knowledge Night Manager
about the services A Step Away offers and also

the opportunities Johns Hopkins may offer. A
basic understanding of Baltimore attractions and Daytime Operational Nighttime Daytime Cleaning
a well rounded personality that will help provide Staff (1-2) Operational Staff (1) Staff (1)
guests with the best experience possible.
13

Operational
Plan
SUPPLY CHAIN
Materials needed to maintain upkeep of A Step Away include linens,

toiletries, detergent, kitchen appliances, and cleaning supplies.
Materials Cleaning staff will be responsible for communicating with the general
manager when replenishing of supplies is need.
The general manager will be responsible for determining which

retailers to purchase supplies from. They will also be responsible for
Retailers reporting costs to the Chief Financial Manager. This can also be
organized and tracked by IQWare in the inventory management
program.
The cleaning staff is responsible for distributing toiletries and

organizing incoming shipments of other orders as needed. Assistant
Staff managers and operational staff are also responsible for checking in
with guests for their amenities needs.
Consumers are the guests at the hotel. They will be using the
resources provided to them by A Step Away. They have the option
Consumer for cleaning staff to come in once a day or on a needed basis. If
cleaning staff is unable to clean their rooms, the guests will be
responsible for notifying the front desk about amenity needs.
DAY TO DAY FUNCTIONS
Figure 21: Daily Functions
Notification of
Check- In Check-Out Staying By
Rooms Cleaned
Between
2:00pm 10:00am 4:00pm Day 7:00am- 4:00pm
Before
14

Operational
Plan
PREPARATION
Figure 22 shows the Work Breakdown Structure for the days leading up to the opening of A Step Away.
The head management team will need to start by taking the time to find the suppliers and resources
they need to insure a smooth opening. Job opening will be posted on job websites, the hotels website,
and other various sources. Interviews will be held between 4/5/17 and 10/5/17 and will include a list of
questions referring to their job titles skills and customer service. A soft opening will occur on 11/5/17 to
ensure a steady rate of room cleaning and booking takes place. On 11/11/17 the entire hotel will be
open to the public and will give patients and their families a comfortable place to stay during their visit
to Johns Hopkins. Figure 22: Work Breakdown Structure
Effort Planned
Dependencies Status Hours Start Date Completion Resource
1 Preparation Incomplete 4/5/17 10/5/17

1.1 Acquire Resources Incomplete 4/5/17 10/5/17
1.1.1 Hire Staff Incomplete 20 4/5/17 8/4/17 Leadership
1.1.2 Train Staff 1.1.1 Incomplete 20 8/5/17 10/5/17 Training Manual
1.1.3 Reach out to suppliers Incomplete 10 4/5/17 6/5/17 Computers
1.1.4 Compare supplier rates 1.1.3 Incomplete 10 4/5/17 6/5/17 Computers
1.1.5 Order supplies 1.1.4 Incomplete 10 4/5/17 6/5/17 Computers
1.2 Setting up hotel Incomplete 6/5/17 8/5/17
1.2.1 Arrange rooms 1.1.5 Incomplete 40 6/5/17 8/5/17 Supplies, employees
1.2.2 Arrange lobby 1.1.5 Incomplete 10 6/5/17 8/5/17 Supplies, employees
1.2.3 Set up computer systems 1.1.5 Incomplete 10 6/5/17 8/5/17 Technical professional
1.3 Soft Marketing Incomplete 4/5/17 4/5/17
1.3.1 Launch website Incomplete 5 4/5/17 4/5/17 Technical professional
1.3.2 Distribute brochueres 1.1.5 Incomplete 5 4/5/17 4/5/17 Staff
1.3.3 Distribute blankets 1.1.5 Incomplete 5 4/5/17 4/5/17 Staff
2 Soft Opening Incomplete 11/5/17 11/10/17

2.1 Open 15 rooms Incomplete 11/5/17 11/10/17
2.1.1 Assign guests to room Incomplete 2 11/5/17 11/10/17 Staff
2.1.2 Check in on guests 2.1.1 Incomplete 2 11/5/17 11/10/17 Staff
2.1.3 Clean rooms after guests leave Incomplete 10 11/10/17 11/10/17 Staff
2.2 Marketing Incomplete 6/5/17 Ongoing
2.2.1 Implement entire marketing mix Incomplete Leadership
3 Hard Opening Incomplete 11/10/17 11/10/17

3.1 Re-train staff Incomplete 11/10/17 11/10/17
3.1.1 Revise Expectations 1.1.2 Incomplete 10 11/10/17 11/10/17 Leadership
3.2 Open all rooms Incomplete 11/11/17 11/11/17
3.2.1 Assign guests to room Incomplete 2 11/11/17 11/11/17 Staff
3.2.2 Check in on guests 3.2.1 Incomplete 2 11/11/17 11/11/17 Staff
3.2.3 Clean rooms after guests leave Incomplete 10 11/12/17 11/12/17 Staff
15

IS Plan
OPERATIONAL SOFTWARE DECISION

To see a discussion of our software and hardware decision process in further depth please see Appendix L. Figure
23 shows our final software decision in IQware PMS system and Quickbooks accounting.
Figure 23: Operational Software Decision
Key Operational Features eZee Absolute IQWare Inn Quest
Front Desk Operations
Guest Profile/History (CRM)

Housekeeping/ Maintenance
Reservation Center
Daily Reports
Cloud Based Booking
Payroll
Asset/Inventory Management
Integrated Accounting
Software Details
Price Free- 2% fee on $200/month $289/month
OTA bookings
Accounting Software QuickBooks QuickBooks QuickBooks
Accounting Software $59/month first $59/month first 6 Interface fee- $395
Price/Fees 6 months months $59/month first 6
$120/month $120/month months
$120/month
Total Price Per Year Estimated $3,474 $4,937
$8,482
Ezee, 2017 IQWare, 2017 Inn Quest, 2017
16

Introduction Away Plans Conclusion
IS Plan
IQWARE PMS This PMS software is specifically designed for hospitality

After deliberating between multiple hospitality software businesses. To increase efficiency and turnover rates, a
systems, we found that systems which integrate the most housekeeping and maintenance feature is included in
operational features were the best for our needs. Many the system. This allows maids to immediately update
top competitors in this industry offer the same features the status of a room, if it needs repairs, is ready for
within a PMS and include many different products that can check in, or if downturn services were complete. These
be integrated in the PMS system. Ultimately, we chose functions can be updated immediately on a mobile
IQWares property management system based on its device, allowing front desk staff to be aware of any
lower price and its quality of services. IQWare was changes necessary. Figure 25 shows an example of the
founded in 1984 and has maintained a focus on only the different housekeeping functions available.
hospitality sector since then. They remain a small
company but still operate over 120,000 rooms generating
more than 3 billion dollars in annual revenue (IQWare,
2017). This PMS software will allow us to integrate
booking, front-desk, back-office, maintenance, and
accounting functions in order to operate as effectively and
efficiently as possible.
OPERATIONS
Operationally, IQWare will manage guests and room status
from the moment they make a reservation. The reservation
center allows for guests to view available rooms for
particular days and make a booking. With a cloud-based Figure 25: Housekeeping Chart IQWare, 2017
system, every reservation is immediately available to any In order to stay on top of inventory and assets, IQWare
device with internet, making the shift managers or front provides a unique asset management program that
desk operators aware of any changes in scheduling or organizes vendors and inventory as it fluctuates. This will
occupancy. Figure 24 is an example of a screen for allow A Step Away to always be prepared with necessary
management that shows room availability at a glance. supplies. This software also has payroll capabilities in
Figure 24: Room Availability order to measure hours that employees work and
manage their schedules. This is incorporated into an
affiliated accounting system, Quickbooks. To see our
business process model, refer to Appendices F and G.
GUEST PROFILES
Although A Step Away does not rely on loyalty members
being a need-based service, this PMS system provides
guest and vendor profiles that are readily available. This
will assist our company in maintaining quality
relationships and delivering the best customer service
and personalized experiences as possible. Post-stay survey
IQWare, 2017
results can also be incorporated into these profiles.
17

IS Plan
QUICKBOOKS HARDWARE
QuickBooks online accounting software allows With a cloud-based system, A Step Away has the option
businesses to work efficiently and effectively across all of choosing a variety of hardware. We decided that two
devices. QuickBooks is used by over 4.8 million desktop computers for the front desk and one mobile-
customers internationally and has shown great success device for housekeeping would suffice for our 22 room
for many small business owners (Quickbooks, hotel. The desktop computers will also be equipped
2017). Business owners can manage payroll and see with credit card readers that will assist for in-person
where their money is going all through this integrated payments.
software. We chose QuickBooks as our vendor for
accounting software because it is an affiliated company Our desktop computer is a Dell All-In-One Computer
with IQWare and provides all of the features that we with an 8GB memory. It runs on Microsoft Windows 10
want for only $59 per month. IQWare is compatible with Home and includes a wireless keyboard and mouse. We
QuickBooks and allows for efficient integration to primarily chose this option because of its simplistic
manage financials. design and moderate pricing with a cost of $529.99
each (Office Depot, 2017). The cloud-based system
The QuickBooks Plus is the best option for us. It includes allows us to choose any hardware that has internet
features such as customizing and sending invoices, readily available. We will also be utilizing MAGTEKs
tracking income and expenses, manage and pay bills, and Dynamag Magnetic Stripe Reader for credit card sales.
even tracking inventory. QuickBooks Plus provides an These will each cost $49.99 (Office Depot, 2017). Figure
add on feature for full service payroll. That feature 27, below shows an image of the desktop and stripe
allows managers to do payroll directly through the reader.
Figure 27: Hardware
app. This $31 add on is more beneficial for our business
because we expect our managers to be very busy
managing our bookings, and this will allow our managers
one less thing to worry about managing. Figure 26 is an
example of how managers can utilize the full service
payroll feature (Quickbooks, 2017).
Figure 26: Payroll Feature
Office Depot, 2017

Finally, we will purchase one Amazon Fire tablet for
$39.99 (Amazon, 2017). This tablet will use IQWares
mobile app for housekeeping updates. Maids and
supervisors will have access to this hardware in order
to update guest and property information from
anywhere in the hotel. This low price will allow for a
great increase in efficiency for A Step Away. The total
price for hardware will be $1,199.95.
Quickbook, 2017
18

Financials
CURRENT AND FUTURE STANDING Figure 29: Profit Margin

A Step Away is expected to be a feasible and a
successful company based off of the projected Profit Margin
financials. In the pro-forma statements, we used prices 23%
from demand scenario 1, with hotel rooms at $150/ 21% 21.99% 21.99% 21.99%
night. We plan to take a start up loan of $1,945,641 at
8% interest for 7 years; the amortization schedule can 19% 18.94%
be found in Appendices AG- AH, pages 57-58 . The
17%
company will also receive paid in equity capital of 16.39%
$654,048 from The Copeland Associates, making the 15%
total cost of opening the hotel $2,599,689. This option
is the best for us because we have the ability to finance 13%
Year 1 Year 2 Year 3 Year 4 Year 5
our debt in seven years.
Figure 28: Financial Outlook EXPENSES
Net Present Value $ 654,055 We accounted for the expenses that any hotel would
experience when beginning their business. This includes
Internal Rate of Return 20.86 % fixed assets, inventory, utilities, MIS costs and marketing
costs. Our biggest expenses are the purchases of the
Payback Period 4.17 years building and the remodels, more specifically. Inventory is
expected to be replenished once each year as it
Weighted Cost of Capital 14.23 % decreases and depreciates.
Sales are expected to be down about 10% for the first

GROWTH PROJECTIONS two years because our brand will not immediately be
Based on the pro-forma records, A Step Away is
recognized in the area. They will likely see a more steady
expected to produce positive growth for the first 3
increase from year one to year three, but to account
years until the occupancy rate plateaus, shown in
accurately we expect to experience the growth during
Figure 29. Hotels located in the heavily populated
the second year.
Mid-Atlantic region (New York, Pennsylvania, and New
Figure 30: Sales Growth
Jersey) stabilized significantly more quickly (2.94
years) (ONeill 2011). We are expecting to have Sales Growth
occupancy rates down by 10% for the first 2 years
because our business hasnt gained brand recognition $1,150,000
by the doctors and social workers who would $1,100,000
recommend us. By year 3, we expect to reach our
$1,050,000
demand forecasts expected occupancy rate of 91%.
Keep in mind that revenue could be much higher if we $1,000,000
charge $200/ night as seen in demand scenario 2. With
$950,000
the capital gained from this location, we plan to expand
to other world renowned hospital campuses to $900,000
accelerate growth. 19 Year 1 Year 2 Year 3 Year 4 Year 5

Conclusion
A STEP AWAY
The medical tourism industry is a $60-70 billion dollar industry that is expected to double in the next five
years. Demand is expected to grow rapidly in this market, and these families need a place to refresh and
rejuvenate. Having a loved one in the hospital can be the most stressful and exhausting time that anyone
will face in their life. At A Step Away our mission is to provide families with loved ones in the hospital a
close, comfortable, and home-like lodging option that provides a sense of community among guests and a
place to recharge positivity while being with-in walking distance of your loved ones. The amazing thing
about our business is that there is no seasonality. People are getting sick and need surgeries year round,
which will boost revenue in seasons not usually capitalized by other lodging options. We are even more
marketable because we are primarily focused on impatient families, while other close competitors focus
on outpatients. Other competitors, like local hotels, dont add the personal touch and proximity
that people need in order to feel comfortable. The family focus of our business, proximity, and untapped
target market will give us a competitive advantage in our industry.
THE PLAN
Below it is clear there is demand based on our primary and secondary approaches. We will offer all the
same amenities of other hotels in the area offer but on a broader scale, and having close proximity gives
us an estimate of $1,264,388 in revenue per year and an occupancy rate of 92%. In conclusion, A Step
Away's plans will allow our company to run as effectively and cost-efficiently as possible. The marketing
plan was strategically chosen to specifically reach a unique target market. By affiliating our business with
Johns Hopkins, we allow ourselves a direct channel to connect with hospital patients and their families.
Johns Hopkins website, the health review, and our donation of blankets will help our company become
well known and recognizable for Johns Hopkins employees and guests a-like. The management and
operational plans organize the people and labor necessary to operate efficiently. Finally, our information
systems plan allows us to save money and manage recourses as effectively as possible. With IQWare's
cloud based system, immediate updates are available to any device with internet, increasing
efficiency. These plans were carefully thought out and deliberated to create the most prosperous business
possible. With all of these plans in place, we expect A Step Away to be feasible and successful financially.
Figure 31: Demand Forecast Summary
Primary Data (60%) Figure 32: Financial Outlook
Average Revenue (365) $1,278,777.00 Net Present Value $ 654,055
Average Occupancy Rate 91%
Secondary Data (40%) Internal Rate of Return 20.86 %
Average Revenue (365) $1,250,000.00
Payback Period 4.17 years
Average Occupancy Rate 93%
Weighted Average Weighted Cost of Capital 14.23 %
Average Revenue (365) $1,267,266.00
Average Occupancy Rate 92% 20

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a n_patz/.
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204427:s.
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http://health.usnews.com/best-hospitals/area/md/johns-hopkins-hospital-6320180.
Ronald McDonald. (2017). Ronald McDonald House Charities Baltimore fast facts. Retrieved March 21, 2017 from
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http://4.bp.blogspot.com/XteopNShdxg/Vq4x2N7swMI/AAAAAAAAmfI/D4BavGbX_uk/s1
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Orleans-St-Baltimore-MD/.
25
Appendix A
The Business Model Canvas

Key Activities: Customer Segments:
- Amenities - Niche segment
- Toiletries - John and Barbara are the 35 year old couple with their 7
- Shuttle service year old in the hospital.
- Dinner - Cassandra is the 48 year old daughter of an ill woman that
- Lounge is in the hospital.
- Jim is the father of two children, one of whom is seriously
Key Resources: ill and in the hospital. (possibly Jims spouse is in hospital and
- Kind employees he has his kids with him)
- Great location
- Johns Hopkins Hospital Customer Relationships:
- Personal relation with staff
Value Proposition: - Family like environment
A brand new, close comfortable - Partnerships create discounts elsewhere
housing option for the family - Ask how to improve a stay for other families next time
members of patients where you - Make them a board
can recharge your positivity.
Cost Structure: Revenue Streams:
Key Partners: - Remodeling - AdWords Revenue
1. Mama Mias - Customer Relations - Nightly Stays & meals
2. Patterson Bowling Center - Human Resources - Credit card/ debit payments
3. Johns Hopkins Hospital - Food for guests
4. Thompson Remodeling Co. - Toiletries
5. Richardson Farm - Cleaning supplies
Channel:
- Through Johns Hopkins
Website
- Flyers in Johns Hopkins
- Bus stop ads
- Billboards
- Google ads
- Doctor referrals
- Social workers referrals
26
Competitors Conclusion
Appendix B
Brand Identity
Competitors: Ronald McDonald House of Baltimore, The Hackerman-Patz Patient and Family Pavillion, Childrens
House at Johns Hopkins, Holiday Inn Express, Sleep Inn & Suites, Fairfield Inn & Suites, Hyatt Place Baltimore,
Homewood Suites, Embassy Suites.
Insight: Go after Johns and Barbara, both younger adults and older adults have loved ones in the hospital, and they
need a comfortable place to stay.
Target:
Johns and Barbara are the 35 year old couple with their 7 year old in the hospital.
Cassandra is the 48 year old daughter of an ill woman that is in the hospital.
Jim is the father of two children, one of whom is seriously ill and in the hospital. (possibly Jims spouse is in hospital
and he has his kids with him)
Product Attributes: Family oriented environment, access to everything that makes you feel at home, very close
walk to hospital, shuttle service.
Credibility: We are here to help people that have loved ones in the hospital. We have a certified staff.
Emotional Benefits: Space to spend time with loved ones, being close to loved ones, provides a sense of
community.
Functional Benefits: Provides a comfortable home-like living arrangement that is steps away from your
hospitalized loved one.
Personality: Home-like, caring, understanding, friendly, warm
Slogan: Never Be more than a Step Away
Positioning: To caring adults with a loved one in Johns Hopkins Hospital, A Step Away is the convenient lodging
option that provides a supporting and home-like environment as close to your loved one as possible.
Value: A brand new, close comfortable housing option for the family members of patients where you can recharge
your positivity.
Symbol:
27
Appendix C
Strengths: Weaknesses:
Very close Max rooms is 29
Family oriented Not for charity
Sense of community Highly competitive area
Unique target market Only one exists
Well recognized hospital Smaller parking lot
Has a gym
Shuttle service
Open kitchen
Lack of seasonality
Opportunities: Threats:
Reach an untapped target market Highly competitive area
Lots of customers Idea can be mimicked
The concept can be applied to Legal issues
hospitals around the nation
Franchising
Brand diversification
28
Appendix D
PRIMARY DEMAND
Figure 33: Primary Demand
Wyndham Boston Ronald McDonald
Beacon Hill House John Jeffries House
Location Boston, MA Baltimore, MD Boston, MA
Massachusetts General Massachusetts General
Hospital Affiliation Hospital Johns Hopkins Hospital
Average Night Cost $159 $15 Donation $193
Number of Rooms 250 36 46
Average # of Nights 2 or 3 9 or 10 2
# of Inpatients
Annually 48,493 115,000 48,493
Waitlist None Yes None
Shuttle none Yes no
Distance from Hospital 500 ft 2.4 miles 0.3 miles
Business & Vacation
Focus Travelers Families Business Travelers
Type Hotel, Midscale Bed & Breakfast Boutique
Revenue (365) $10,881,562 $197,100 $1,782,259.00
Occupancy Rate 75% 100% 50-60%
SECONDARY DEMAND

searches for Johns Hopkins 10,000-100,000
Hospital per month:

Searches for Johns Hopkins 1,000-10,000
Admissions per month:
Price sensitivity during

Cut in half
crisis situations:
29
Appendix E
EMPLOYEE BENEFITS LEGAL PARTNERS

Employee need and schedule is based on a Accounting Services: Weinblatt & Associates
comparison of other small scale hotels and the
average hotel salaries in the country. Due to the fact Legal Services: Ballard Spahr LLP
A Step Away is a small scale hotel and a start up
company, part time employees will not have the
opportunity to acquire benefits at this time. They will,
SAMPLE INTERVIEW QUESTIONS
however, how the opportunity to increase pay based
on performance. Give an example of a time you had to work with an
unhappy customer and what did you do to satisfy
Full-time staff will have the opportunity to make their needs?
401(k) plans with matching contributions, paid
vacations, paid holidays, discounted room rates, and What do you feel is the most important aspect of
disability benefits. Overtime hours will also be customer service?
available for these employees.
How will you positively impact our customers
everyday?
Figure 34 Employee Schedule
Monday Tuesday Wednesday Thursday Friday Saturday Sunday

Hours
7am - GM, AM, OS GM, AM, OS GM, AM, OS GM, AM, GM, AM, OS AM, OS (x2), AM, OS
11am (x2), CS (x2), CS (x2), CS OS(x2), CS (x2), CS CS (x2), CS
11am - GM, AM, OS GM, AM, OS GM, AM, OS GM, AM, OS GM, AM, OS AM, OS (x2), AM, OS
3pm (x2), CS (x2), CS (x2), CS (x2), CS (x2), CS CS (x2), CS
3pm -
7pm AM, OS (x2) AM, OS (x2) AM, OS (x2) AM, OS (x2) AM, OS (x2) AM, OS (x2) AM, OS (x2)
7pm -
11pm AM, OS (x2) AM, OS (x2) AM, OS (x2) AM, OS (x2) AM, OS (x2) AM, OS (x2) AM, OS (x2)
11pm -
3am AM, OS AM, OS AM, OS AM, OS AM, OS AM, OS AM, OS
3am -
7am AM, OS AM, OS AM, OS AM, OS AM, OS AM, OS AM, OS
KEY: GM(General Manager), AM(Assistant Manager), OS(Operational Staff), CS(Cleaning Staff)
30
Appendix F
Business Process Model
Figure 35: Business Process Model
31
Appendix G
Business Process Model Continued
32
Appendix H
Financials Dashboard
Occupancy Rate
100%
90%
80%
70%
60%
50%
40%
1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51
Industry Average A Step Away

Figure 36: Occupancy Rate Smith Travel Research, 2016
In any successful business, financial status is a primary concern. At A Step Away, one of the key
performance indicators we will use is the hotels occupancy rate in comparison to the industry average.
Most traditional hotels experience seasonality in their occupancy rates, with the highest occupancy
during the summer when more travelers can go on vacation. With A Step Away being a need-based
service, we do not foresee any seasonality, especially not as dramatically as a typical hotel. Occupancy
rate is something that will be measured and analyzed weekly by the general manager. If we find that
the occupancy rate has any significant drops from our forecasted demand of 91%, then we will consider
decreasing labor and variable costs per room in order to increase profits. Our Property Management
System also includes a revenue management program, in which rates can be adjusted according to
occupancy rate and other factors.
33
Appendix I
Operations and Management Dashboard
Employee Turnover Rates Employee Satisfaction

35%
100%
30%
25% 80%
20% 60%
15%
10% 40%
5% 20%
0%
0%
Actual Results Industry Average

National Average A Step Away Goal Actual Goal
Tolan, 2016
Figure 37: Employee Turnover Rates Figure 38: Employee Satisfaction
The hospitality industry experiences some of the worst employee turnover rates of any other industry. In the
United States, the average employee turnover rate in hospitality is 31%. The average hotel spends 33% of its
revenues on employee labor alone. With such a high turnover rate in comparison to the national average of
about 10%, hotel management faces specific difficulties retaining employees. Studies show that about 70% of
employees are disengaged with their work and one third of employees believe that their company will not
make changes based on feedback (Tolan, 2016). With this in mind, another Key Performance Indicator A Step
Away will use is our employee turnover rate according to what is affordable for our business as well as a
measure of employee satisfaction. With the national average being 10% and the industry average being 31% A
Step Aways goal is to maintain less than a 15% turnover. In the graph above the yellow bar graph represents
possible turnover by month. If we find that our turnover exceeds 15% like it does in April or June, we will
make adjustments to encourage employee satisfaction.
We will also survey our employees monthly about their satisfaction with their job. Our goal is to have 80% or
more employees satisfied in their work, therefore creating a peaceful work environment and delivering
excellent customer service. If we fall short of these goals we will make changes to increase employee morale.
Some examples of this would be rewards systems, increased benefits, as well as employee suggestions that
will be taken into consideration seriously. In order to prevent extraordinary measures from needing to be
taken, management will organize bi-weekly meetings with the entire staff to update on procedures and be
aware of any conflict ahead of time. The general manager will be responsible for monitoring these dashboards
and shift managers will implement decisions to create a better work environment.
34
Appendix J
Marketing Dashboard
3.0% Website Conversion Rate
2.5%
2.6%
2.5%
2.0% 2.3%
2.2%
2.0%
1.5% 1.8%
1.7%
1.5%
1.0% 1.2%
1.3%
0.9%
0.5% 0.8%
0.0%
A Step Away Average Conversion Rate

Guiding Metrics, 2017
Figure 40: Advertising Methods
Figure 39: Website Conversion Rate
Website conversion rate is a KPI that measures what percent of website visits turn into real bookings. The
lodging industry average of website conversion rate is between 2-3% (Guiding Metrics, 2017). The values of
A Step Away are an estimate of what we expect our website conversion rate to be throughout our first year
of business. We expect that the first months of business will have lower percentages due to our business
just opening. Having a strong brand identity is something that we want to achieve eventually, and website
conversion rate will show how well we are marketing ourselves on our website. A Step Away has no
seasonality because hospitals do not have seasonality, so we expect our percentages to vary throughout the
year. The general manager is responsible for checking website conversion rate monthly. Analyzing this rate
monthly will allow for management to see if improvement has been made. It is important for management
to take into account which marketing strategy is the most successful so that areas of improvement may be
accessed.
The supplemental pie chart shows what percentage our different marketing methods make up. We will
survey guests after their stay about their satisfaction and how they learned about A Step Away. Based on
their responses, the marketing initiatives that reach the most customers will be given more of the marketing
budget and those with less reach will be decreased. This will also be analyzed by the general manager on a
monthly basis.
35
Appendix K
IS Triangle
The people at A Step Away keep the business going. This includes the owners, managers, employees,
and of course, the guests. Guests drive our revenue and in order to boost revenue, our managers are
responsible for managing bookings. Our Cloud Based Booking feature allows our managers 24/7
access to all bookings and guest information. This is done by utilizing our Guest Profile CRM system.
Employees and managers can review guest feedback to improve the hotel in any way possible. Our
staff maintains business by integrating aspects from marketing strategies, management plans, and
utilizing our IS to efficiently run our business and increase bookings.
People
Figure 41: IS Triangle
Process Technology
IT integrates all aspects of running a hotel. IQWare is the
PMS that powers A Step Away. IQWares features include
At A Step Away, the IS goal is to not only effectively cloud based booking, frontdesk operations, housekeeping,
manage all operations, but to make it accessible for the and CRM guest profiles. IQWare stores information on all
guest as well. Guests are able to book online directly of our operations and organizes data that otherwise would
through our website. Employees receive confirmed take hours to complete. IQWare partners with a third
bookings through our website, and store them in our party vendor, Quickbooks. Quickbooks is an accounting
database that is powered by IQWare. Managers can see software company that will manage inventory, manage
all bookings and are responsible for the system keeping and pay bills, and manage payroll. Quickbooks integration
all reservations, cancellations, and guest profiles. with IQWare will allow for the business to manage all
operations and financials. This is the most efficient option
for A Step Away in order to reduce time and increase
revenue.
36
Appendix L
Software Decision Features

The main operational features that we found Front Desk Operations
important in choosing an information system were Screen that shows calendar of availability and guest
programs that could integrate booking, reservations, schedule
inventory management, guest profile, and accounting Check-in, check-out, and payment operations
in one system. Although there is no such thing as a
perfect system, IQWare has the functionality to do all Guest Profile/History
of these things. The other systems we studied were Keeps important guest information and history in
also able to do valuable operations, but did not have profiles that can be accessed any time
the inventory management system that IQWare
provides which we found to be useful in recording Housekeeping/Maintenance
supplies that are used and needed. Tracks bedroom status, downturn services, and
turnover via mobile app
With IQWares affiliation with QuickBooks, automated
bill payments and payroll make A Step Aways Reservation Center
financials simple and efficient. IQWare is a trusted Integrates booking from website, OTAs, in-person and
company and has been in the industry for over three over the phone
decades, leading us to believe they will continue to Immediately updates front desk
exist in coming years. They offer 24/7 assistance and
customize their programs for each individual company Daily Reports
and their needs. This was appealing to A Step Away Provides reporting of financials, occupancy, revenues,
because we are a smaller scale company that some and rates on any day
softwares may not be able to accommodate for. Some Manages revenues and rates based on inputted criteria
services that big companies require would not be at users discretion
necessary for A Step Away.
Cloud Based Booking
Another feature we took into consideration was Access to information from any device with internet
whether or not the system was cloud-based or not. Mobile Apps available
We ultimately wanted a cloud-based system because it
could be used on any device and decreased costs for Payroll
hardware. Without database requirements from an on- Payroll management through IQ ware
premise software system we were able to choose Automatic direct deposit through QuickBooks
moderately priced hardware and save money while still
utilizing a powerful system. Asset/Inventory Management
Updates and tracks current supply inventory
Finally, the monthly rate for IQWare encouraged our Profiles third party vendors and what they supply
decision because while they provided the same
features as the other systems, the price was Integrated Accounting
significantly cheaper. IQWare also had an easy-to-use Easily integrated with choice of accounting software
website that gave us confident in the system itself. No extra cost of integration
37
Appendix M
Google Ad Concept Figure 42: Google Ad Concept
38
Appendix N
Kitchen Concept - Actual Size Figure 43: Kitchen Concept
Left Side
Right Side
39
Appendix O
Floor Plan- Pre-renovations Figure 44: Floor Plan
Floor 1
Floor 2
40
Appendix P
Floor Plan- Pre-renovations Figure 45: Floor Plan
Floor 3
41
Appendix Q
Floor 1 Remodeled- Floor Plan Figure 46: Floor Plan
42
Appendix R
Floor 2 Remodeled- Floor Plan Figure 47: Floor Plan
43
Appendix S
Floor 3 Remodeled- Floor Plan

Figure 48: Floor Plan
44
Appendix T
Social Media
Figure 49: Facebook Page
45
Appendix U
Johns Hopkins Website
Figure 50: Johns Hopkins Website
46
Appendix V
A Step Aways Website
Figure 51: A Step Aways Website
47
Appendix W
Johns Hopkins Magazine Ad
Figure 52: Magazine Ad
48
Appendix X
Pro Forma Balance Sheet
Start-Up Year 1 Year 2 Year 3 Year 4 Year 5
Cash $ 599,928 $ 757,499 $ 937,404 $ 1,167,955 $ 1,398,507 $ 1,629,058

Accounts Receivables $ - $ 40,977 $ 40,977 $ 46,036 $ 46,036 $ 46,036
Inventory 3,616 3,616 3,616 3,616 3,616 3,616
Total current assets 603,545 802,092 981,997 1,217,608 1,448,159 1,678,710
Property and equipment, net
(a) 1,996,144 $ 1,891,973 $ 1,787,802 $ 1,683,630 $ 1,579,459 $ 1,475,288
Total assets $ 2,599,689 $ 2,694,065 $ 2,769,799 $ 2,901,238 $ 3,027,618 $ 3,153,999
Net working capital $ 603,544.70 $ 538,506.83 $ 755,550.24 $ 1,022,993.77 $ 1,280,830.49 $ 1,534,769.30

Accounts payable $ - $ 3,616.40 $ 3,616.40 $ 3,616.40 $ 3,616.40 $ 3,616.40
Accrued expenses -
Current portion of long-term
debt - 259,968.89 222,830.48 190,997.55 163,712.19 140,324.73
Total current liabilities - 263,585 226,447 194,614 167,329 143,941
Long-term debt 1,819,782 1,559,813 1,336,983 1,145,985 982,273 841,948
Total liabilities 1,819,782 1,823,399 1,563,430 1,340,599 1,149,602 985,890
Paid-in equity capital 779,907 726,734 1,040,102 1,343,725 1,661,102 1,951,196
Retained earnings (b) - 143,933 166,267 216,914 216,914 216,914
Total equity 779,907 870,667 1,206,369 1,560,639 1,878,016 2,168,110
Total liabilities and equity $ 2,599,689 $ 2,694,065 $ 2,769,799 $ 2,901,238 $ 3,027,618 $ 3,153,999
(a) Property and equipment, net:
Leasehold improvements $ 1,355,641
Fixtures and equipment 35,529
Computer hardware and
software 5,074
Building 590,000
Vehicle 9,900
1,996,144 1,996,144 1,891,973 1,787,802 1,683,630 1,579,459
Less: Accumulated depr and
amort - (104,171) (104,171) (104,171) - (104,171) - (104,171)
Property and equipment,
net $ 1,996,144 $ 1,891,973 $ 1,787,802 $ 1,683,630 $ 1,579,459 $ 1,475,288
(b) Retained earnings:

Balance, beginning of year $ - $ - $ 143,933 $ 166,267 $ 216,914 $ 216,914
Net income - 159,925 184,741 241,015 241,015 241,015
Less: Distribution to owner - 15,993 18,474 24,102 24,102 24,102
Balance, end of year $ - $ 143,933 $ 166,267 $ 216,914 $ 216,914 $ 216,914
Figure 53: PF Balance Sheet
49
Appendix Y
Pro Forma Income Statement

Sales (a) $ 975,645 $ 975,645 $ 1,096,095 $ 1,096,095 $ 1,096,095

Cost of goods sold and occupany costs (b) 201,231 201,231 221,406 221,406 221,406
Gross profit 774,414 774,414 874,689 874,689 874,689
Direct store expenses (c) 433,387 433,387 433,387 433,387 433,387
General and administrative expenses 41,684 41,684 41,684 41,684 41,684
Pre-opening expenses 44,220
Operating income 255,123 299,343 399,618 399,618 399,618
Interest expense 20,410 23,947 31,969 31,969 31,969
Income before income taxes 234,713 275,396 367,648 367,648 367,648
Provision for income taxes 74,788 90,654 126,633 126,633 126,633
Net income $ 159,925 $ 184,741 $ 241,015 $ 241,015 $ 241,015
Tax Rate 32% 33% 34% 34% 34%
(a) Sales:
Number of customers per day 17.82 17.82 20.02 20.02 20.02
x Average transaction value 150.00 150.00 150.00 150.00 150.00
Sales per day 2,673 2,673 3,003 3,003 3,003
x Number of days open per year 365 365 365 365 365
Sales $ 975,645 $ 975,645 $ 1,096,095 $ 1,096,095 $ 1,096,095
(b) Cost of goods sold and occupancy costs:

Cost of goods sold $ 163,421 $ 163,421 $ 183,596 $ 183,596 $ 183,596
Rent - - - - -
Utilities 26,166 26,166 26,166 26,166 26,166
Insurance 11,645 11,645 11,645 11,645 11,645
Cost of goods sold and occupancy costs $ 201,231 $ 201,231 $ 221,406 $ 221,406 $ 221,406
(c) Direct store expenses:

Store payroll, payroll taxes, and benefits $318,600 $318,600 $318,600 $318,600 $318,600
Store supplies 3,616 3,616 3,616 3,616 3,616
Depreciation and amortization 104,171 104,171 104,171 104,171 104,171
Advertising 9,596 11,084 14,461 14,461 14,461
Direct store expenses $435,983 $437,471 $440,848 $440,848 $440,848
Figure 54: PF Income Statement
50
Appendix Z
Pro Forma Cash Flows

Project Cash Flows
0 1 2 3 4 5
EBIT 255,123 299,343 399,618 399,618 399,618

x (1 - tax rate) 68% 67% 66% 66% 66%
Operating profit after tax 173,483.63 200,559.83 263,747.65 263,747.65 263,747.65
Depreciation and
+ amortization 104,171 104,171 104,171 104,171 104,171
Operating cash flow $ - $ 277,655 $ 304,731 $ 367,919 $ 367,919 $ 367,919
Change in net working
- capital 603,545 65,038 (217,043) (267,444) (257,837) (253,939)
- Capital spending 1,996,144
Free cash flow $ (2,599,689) $ 212,617 $ 521,774 $ 635,362 $ 625,755 $ 621,857
Horizon value (end of year
+ 5) 3,022,732
Project cash flow $ (2,599,689) $ 212,617 $ 521,774 $ 635,362 $ 625,755 $ 3,644,589
EBITDA (year 5) $ 503,789

x Market multiple 6.0
Horizon value (end of year 5) $ 3,022,732
Figure 55: PF Cash Flows
Required Rate of Return
Required Rate of Return
Weighted average cost of capital (WACC):
Capital Cost of After-Tax

x x = WACC
Structure Capital Adjustment
Debt 70% x 8% x 67% = 3.73%
Equity 30% x 35% = 10.50%
14.23%
Figure 56: Required Rate of Return
51
Appendix AA
Required Rate of Return Continued

Decision-Making Criteria
Net present value = 654,055
Internal rate of return = 20.86%
Payback period = 4.17
Figure 57: Required Rate of Return Cont.

Expenses
Equipment/Pre-Operating Costs
Fixed Assets
Item Retailer Price/Unit Units Total Cost
Vehicle BusesForSale $ 9,900.00 1$ 9,900.00
Rennovations Thompson Remodeling Company $ 1,355,641.00
Building LoopNet $ 32,777.78 18 $ 590,000.00
King Mattress National Hospitality $ 509.00 10 $ 5,090.00
Queen Mattress National Hospitality $ 355.00 12 $ 4,260.00
Bed Frames National Hospitality $ 55.95 24 $ 1,342.80
Microwaves National Hospitality $ 75.95 22 $ 1,670.90
Mini Fridge National Hospitality $ 189.00 22 $ 4,158.00
TV Mounds National Hospitality $ 87.95 28 $ 2,462.60
TV National Hospitality $ 209.99 28 $ 5,879.72
Luggage Cart National Hospitality $ 295.00 2$ 590.00
Room Curtains National Hospitality $ 45.95 22 $ 1,010.90
Vaccum National Hospitality $ 159.00 2$ 318.00
Housekeeping Cart National Hospitality $ 289.00 1$ 289.00
Laundry Cart National Hospitality $ 124.00 1$ 124.00
Trash Cans National Hospitality $ 3.25 36 $ 117.00
Radio Clocks National Hospitality $ 9.95 24 $ 238.80
$ 27,551.72
52 Figure 58: Expenses
Appendix AB
Expenses Continued
Workout Room Items:
Bowflex Xceed Home Gym Sears $ 544.49 1 $ 544.49
Marcy 150lb Stack Home Gym Modells $ 399.99 1 $ 399.99
2 Exerputic Air Elypticals Target $ 89.99 2 $ 179.98
Proform 6.0 RT Treadmill Bed Bath & Beyond $ 399 2 $ 798
Weider 200lb Rubber Hex Jet $ 299 1 $ 299
Indoor Cycling Bikes $ 199.99 2 $ 399.98
$ 2,621.44
Kitchen Items:
Whirpool Stove/Oven Lowes $ 399 2$ 798
B & D Microwave Target $ 49.99 2$ 99.98
18pc Tramontina Cook Set Walmart $ 39.97 2$ 79.94
Trudell Vintage Dinning Table The Classy Home $ 432.40 4$ 1,729.60
Black Ladder Rest Chair Bizchair $ 33 16 $ 528
$ 3,236
Lobby/Front Desk/Common Area:

Couches Wayfair $ 214.99 6 $ 1,289.94
Coffee Tables Acme $ 94.69 4 $ 378.76
Round Chair Burlington $ 34.99 8 $ 279.92
Rug Joss & Main $ 60.99 2 $ 121.98
Printer Target $ 49.99 1 $ 49.99
$ 2,120.59
Figure 59: Expenses Cont.
53
Appendix AC
Expenses Continued
Inventory
Do not Disturb Signs National Hospitality $ 0.33 100 $ 32.95
Bathroom Mats National Hospitality $ 3.16 48 $ 151.80
Bath Towels National Hospitality $ 5.00 120 $ 599.50
Hand Towels National Hospitality $ 1.77 120 $ 212.50
Wash Cloths National Hospitality $ 0.63 120 $ 75
Body Wash National Hospitality $ 0.15 950 $ 144.75
Shampoo National Hospitality $ 0.15 950 $ 144.75
Lotion National Hospitality $ 0.15 950 $ 144.75
White Sheets National Hospitality $ 5.00 96 $ 479.60
Pillows National Hospitality $ 5.25 96 $ 504
Pillow Covers National Hospitality $ 1.70 96 $ 163.20
Bed Spreads National Hospitality $ 14.95 48 $ 717.60
King Matress Cover National Hospitality $ 11.25 12 $ 135
Queen Matress Cover National Hospitality $ 9.25 12 $ 111
$ 3,616
Utilities
Internet, Cable, Phone BUNDLE Xfinity $ 139.99 $ 1,679.88
Electricity National Grid U.S. $ 1.05 14,110 $ 14,815.50
Gas National Grid U.S. $ 0.25 14,110 $ 3,527.50
Water Hotel Exectutive $ 6,142.95
Insurance Avg range 2011-2015 from Bizminer $ 11,644.60

$ 37,810.43
Figure 60: Expenses Cont. 2
54
Appendix AD
Expenses Continued
MIS Costs Cost/Month Cost/Sq2 Annual Cost
Desktop Computer & Hardrive Office Depot $ 529.99 2$ 1,059.98
Iqware Iqware $ 2,400 1$ 2,400
Quickbooks Quickbooks $ 1,474 1$ 1,474
Magnetic Stripe Reader Staples 49.99 2 99.98
Amazon Fire Tablet Amazon 39.99 1 39.99
Pre-opening costs $ 5,073.95
Yearly costs $ 3,874.00
Marketing Costs
6% of net
income
Figure 61: Expenses Cont. 3
Depreciation
Depr. Life Yearly Depreciation
Vehicle 10 $ 990.00 $ 990.00 $ 990.00 $ 990.00 $ 990.00
Rennovations 20 $ 67,782.05 $ 67,782.05 $ 67,782.05 $ 67,782.05 $ 67,782.05
Building 20 $ 29,500.00 $ 29,500.00 $ 29,500.00 $ 29,500.00 $ 29,500.00
King Mattress 5 $ 1,018.00 $ 1,018.00 $ 1,018.00 $ 1,018.00 $ 1,018.00
Queen Mattress 5 $ 852.00 $ 852.00 $ 852.00 $ 852.00 $ 852.00
Bed Frames 20 $ 67.14 $ 67.14 $ 67.14 $ 67.14 $ 67.14
Microwaves 5 $ 334.18 $ 334.18 $ 334.18 $ 334.18 $ 334.18
Mini Fridge 5 $ 831.60 $ 831.60 $ 831.60 $ 831.60 $ 831.60
TV Mounds 20 $ 123.13 $ 123.13 $ 123.13 $ 123.13 $ 123.13
TV 5 $ 1,175.94 $ 1,175.94 $ 1,175.94 $ 1,175.94 $ 1,175.94
Luggage Cart 10 $ 59.00 $ 59.00 $ 59.00 $ 59.00 $ 59.00
Room Curtains 5 $ 202.18 $ 202.18 $ 202.18 $ 202.18 $ 202.18
Vaccum 5 $ 63.60 $ 63.60 $ 63.60 $ 63.60 $ 63.60
Housekeeping Cart 10 $ 28.90 $ 28.90 $ 28.90 $ 28.90 $ 28.90
Laundry Cart 10 $ 12.40 $ 12.40 $ 12.40 $ 12.40 $ 12.40
Trash Cans 5 $ 23.40 $ 23.40 $ 23.40 $ 23.40 $ 23.40
Radio Clocks 5 $ 47.76 $ 47.76 $ 47.76 $ 47.76 $ 47.76
55 Figure 62: Depreciation
Appendix AE
Depreciation Cont.
Depr. Life Yearly Depreciation
Workout Room Items: Year 1 Year 2 Year 3 Year 4 Year 5
Bowflex Xceed Home Gym 10 $ 54.45 $ 54.45 $ 54.45 $ 54.45 $ 54.45
Marcy 150lb Stack Home Gym 10 $ 40.00 $ 40.00 $ 40.00 $ 40.00 $ 40.00
2 Exerputic Air Elypticals 10 $ 18.00 $ 18.00 $ 18.00 $ 18.00 $ 18.00
Proform 6.0 RT Treadmill 10 $ 79.80 $ 79.80 $ 79.80 $ 79.80 $ 79.80
Weider 200lb Rubber Hex 10 $ 29.90 $ 29.90 $ 29.90 $ 29.90 $ 29.90
Indoor Cycling Bikes 10 $ 40.00 $ 40.00 $ 40.00 $ 40.00 $ 40.00
Kitchen Items:
Whirpool Stove/Oven 10 $ 79.80 $ 79.80 $ 79.80 $ 79.80 $ 79.80
B & D Microwave 10 $ 10.00 $ 10.00 $ 10.00 $ 10.00 $ 10.00
18pc Tramontina Cook Set 10 $ 7.99 $ 7.99 $ 7.99 $ 7.99 $ 7.99
Trudell Vintage Dinning Table 10 $ 172.96 $ 172.96 $ 172.96 $ 172.96 $ 172.96
Black Ladder Rest Chair 10 $ 52.80 $ 52.80 $ 52.80 $ 52.80 $ 52.80
Lobby/Front Desk/Common
Couches 7 $ 184.28 $ 184.28 $ 184.28 $ 184.28 $ 184.28
Coffee Tables 7 $ 54.11 $ 54.11 $ 54.11 $ 54.11 $ 54.11
Round Chair 7 $ 39.99 $ 39.99 $ 39.99 $ 39.99 $ 39.99
Rug 7 $ 17.43 $ 17.43 $ 17.43 $ 17.43 $ 17.43
Printer 7 $ 7.14 $ 7.14 $ 7.14 $ 7.14 $ 7.14
MIS Costs
Desktop Computer & Hardrive 7 151.43 151.43 151.43 151.43 151.43
Iqware
Quickbooks
Magnetic Stripe Reader 7 14.28 14.28 14.28 14.28 14.28
Amazon Fire Tablet 7 5.71 5.71 5.71 5.71 5.71
Total Depr: $ (104,171.34) $ (104,171.35) $ (104,171.35) $ (104,171.35) $ (104,171.35)
Figure 63: Depreciation Cont.
56
Appendix AF
Amortization by Quarter: Building

Quarterly Interest Rate 2%
Years 7
Payments Per Year 4
Amount $590,000
Payment Number Beginning Balance Payment Principal Interest Balance

1 $590,000.00 ($22,633.38) ($19,683.38) ($2,950.00) $570,316.62
2 $570,316.62 ($22,633.38) ($19,781.80) ($2,851.58) $550,534.82
3 $550,534.82 ($22,633.38) ($19,880.71) ($2,752.67) $530,654.11
4 $530,654.11 ($22,633.38) ($19,980.11) ($2,653.27) $510,674.00
5 $510,674.00 ($22,633.38) ($20,080.01) ($2,553.37) $490,593.98
6 $490,593.98 ($22,633.38) ($20,180.41) ($2,452.97) $470,413.57
7 $470,413.57 ($22,633.38) ($20,281.32) ($2,352.07) $450,132.25
8 $450,132.25 ($22,633.38) ($20,382.72) ($2,250.66) $429,749.53
9 $429,749.53 ($22,633.38) ($20,484.64) ($2,148.75) $409,264.90
10 $409,264.90 ($22,633.38) ($20,587.06) ($2,046.32) $388,677.84
11 $388,677.84 ($22,633.38) ($20,689.99) ($1,943.39) $367,987.84
12 $367,987.84 ($22,633.38) ($20,793.44) ($1,839.94) $347,194.40
13 $347,194.40 ($22,633.38) ($20,897.41) ($1,735.97) $326,296.99
14 $326,296.99 ($22,633.38) ($21,001.90) ($1,631.48) $305,295.09
15 $305,295.09 ($22,633.38) ($21,106.91) ($1,526.48) $284,188.18
16 $284,188.18 ($22,633.38) ($21,212.44) ($1,420.94) $262,975.74
17 $262,975.74 ($22,633.38) ($21,318.50) ($1,314.88) $241,657.24
18 $241,657.24 ($22,633.38) ($21,425.10) ($1,208.29) $220,232.14
19 $220,232.14 ($22,633.38) ($21,532.22) ($1,101.16) $198,699.92
20 $198,699.92 ($22,633.38) ($21,639.88) ($993.50) $177,060.03
21 $177,060.03 ($22,633.38) ($21,748.08) ($885.30) $155,311.95
22 $155,311.95 ($22,633.38) ($21,856.82) ($776.56) $133,455.13
23 $133,455.13 ($22,633.38) ($21,966.11) ($667.28) $111,489.02
24 $111,489.02 ($22,633.38) ($22,075.94) ($557.45) $89,413.08
25 $89,413.08 ($22,633.38) ($22,186.32) ($447.07) $67,226.76
26 $67,226.76 ($22,633.38) ($22,297.25) ($336.13) $44,929.51
27 $44,929.51 ($22,633.38) ($22,408.74) ($224.65) $22,520.78
28 $22,520.78 ($22,633.38) ($22,520.78) ($112.60) $0.00
Figure 64: Amortization- Building
57
Appendix AG
Amortization by Quarter: Renovations

Quarterly Interest Rate 2%
Years 7
Payments Per Year 4
Amount $ 1,355,641.00
Payment Number Beginning Balance Payment Principal Interest Balance
1$ 1,355,641.00 ($52,004.65) ($45,226.44) ($6,778.21) $1,310,414.56

2 $1,310,414.56 ($52,004.65) ($45,452.57) ($6,552.07) $1,264,961.98
3 $1,264,961.98 ($52,004.65) ($45,679.84) ($6,324.81) $1,219,282.14
4 $1,219,282.14 ($52,004.65) ($45,908.24) ($6,096.41) $1,173,373.91
5 $1,173,373.91 ($52,004.65) ($46,137.78) ($5,866.87) $1,127,236.13
6 $1,127,236.13 ($52,004.65) ($46,368.47) ($5,636.18) $1,080,867.66
7 $1,080,867.66 ($52,004.65) ($46,600.31) ($5,404.34) $1,034,267.35
8 $1,034,267.35 ($52,004.65) ($46,833.31) ($5,171.34) $987,434.04
9 $987,434.04 ($52,004.65) ($47,067.48) ($4,937.17) $940,366.57
10 $940,366.57 ($52,004.65) ($47,302.81) ($4,701.83) $893,063.75
11 $893,063.75 ($52,004.65) ($47,539.33) ($4,465.32) $845,524.42
12 $845,524.42 ($52,004.65) ($47,777.03) ($4,227.62) $797,747.40
13 $797,747.40 ($52,004.65) ($48,015.91) ($3,988.74) $749,731.49
14 $749,731.49 ($52,004.65) ($48,255.99) ($3,748.66) $701,475.49
15 $701,475.49 ($52,004.65) ($48,497.27) ($3,507.38) $652,978.22
16 $652,978.22 ($52,004.65) ($48,739.76) ($3,264.89) $604,238.47
17 $604,238.47 ($52,004.65) ($48,983.46) ($3,021.19) $555,255.01
18 $555,255.01 ($52,004.65) ($49,228.37) ($2,776.28) $506,026.64
19 $506,026.64 ($52,004.65) ($49,474.51) ($2,530.13) $456,552.13
20 $456,552.13 ($52,004.65) ($49,721.89) ($2,282.76) $406,830.24
21 $406,830.24 ($52,004.65) ($49,970.50) ($2,034.15) $356,859.74
22 $356,859.74 ($52,004.65) ($50,220.35) ($1,784.30) $306,639.39
23 $306,639.39 ($52,004.65) ($50,471.45) ($1,533.20) $256,167.94
24 $256,167.94 ($52,004.65) ($50,723.81) ($1,280.84) $205,444.13
25 $205,444.13 ($52,004.65) ($50,977.43) ($1,027.22) $154,466.71
26 $154,466.71 ($52,004.65) ($51,232.31) ($772.33) $103,234.39
27 $103,234.39 ($52,004.65) ($51,488.48) ($516.17) $51,745.92
28 $51,745.92 ($52,004.65) ($51,745.92) ($258.73) $0.00
Figure 65: Amortization- Renovations
58
Appendix AH
Renovations Breakdown
The price for renovations was found by combining Renovations Breakdown
primary and secondary research to calculate an
approximate quote. Our group was quoted $150 per Floor 1
square foot for a mid scale hotel by Thompson Square Feet 3,484
Remodeling Co. located in Baltimore. The average Price/Unit $ 138
price for renovations per square foot online was 125 $480,757.50
per square foot (Remodelormove). To calculate
renovations we took the average of the two by the Square Feet 4,476.25
number of square feet that need renovated. For other Price/Unit $ 20
areas that would just need pained and new carpet we $ 89,525
were quoted $20 per square foot. Total 570,282.50
Floor 2
Square Feet 3,731
Price/Unit $ 138
$ 514,878
Floor 3
Square Feet 1,960
Price/Unit $ 138
$ 270,480
Total Rennovations Price $ 1,355,641
Figure 66: Renovation Breakdown
59

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AM001 Team 3

From: Team 3 of the Copeland Associates: Anthony Bartolomucci, Matthew

Date: April 9, 2017

Subject: A Step Away Inn & Suites Lodging Concept

This was designed with analysis through:

Current trends in the hospital and hotel industries

Caroline Bruce Nicole Fillar

Ariann Lane Cleo Louis

A Step Away Inn & Suites Lodging Concept

Cohort AM001 Copeland Associates: Team 3

April 9th, 2017

Section Page Number

A Step Away Inn & Suites 1

Mature, Growing Industry 2

Where Are We? 4

Hospitality Homes For Patients 6

Ronald McDonald House 6

Section Page Number

Hackerman Patz Pavilion 6

Implementing Marketing Mix 10

Section Page Number

Day to Day Functions 14

Operational Software Decision 16

Current and Future Standing 19

Appendix A: Business Model Canvas 26

Section Page Number

Appendix B: Brand Identify 27

Appendix E: Management Plan 30

Appendix F: Business Process Model 31

Appendix G: Business Process Model 32

Appendix H: Financial Dashboard 33

Appendix I: Operations and Management Dashboard 34

Appendix J: Marketing Dashboard 35

Appendix L: Software Decision 37

Appendix M: Google Ad Concept 38

Appendix N: Kitchen Concept 39

Appendix O: Floor Plan- PreRenovations 40

Appendix P: Floor Plan- PreRenovations 41

Appendix Q: Floor 1 Remodeled 42

Appendix R: Floor 2 Remodeled 43

Appendix S: Floor 3 Remodeled 44

Section Page Number

Appendix T: Social Media 45

Appendix U: Johns Hopkins Website 46

Appendix V: A Step Aways Website 47

Appendix W: Johns Hopkins Magazine Ad 48

Appendix X: Pro Forma Balance Sheet 49

Appendix Y: Pro Forma Income Statement 50

Appendix Z: Pro Forma Cash Flow/ Required Rate of Return 51

Appendix AA: Required Rate of Return Cont./ Expenses 52

Appendix AB: Expenses Cont. 53

Appendix AC: Expenses Cont. 54

Appendix AD: Expenses Cont./ Depreciation 55

Appendix AE: Depreciation Cont. 56

Appendix AF: Amortization by Quarter: Building 57

Appendix AG: Amortization by Quarter- Renovations 58

Appendix AH: Renovations Breakdown 59

Figure Number Title Page Number

1 Demand Forecast Summary -

3 A Step Away Billboard 1

4 Hotel Revenue 2010-2018 2

5 # of Hospital Beds in the U.S. from 1975-2014 2

6 A Step Away Kitchen Area 3