A resort is like a hotel, but even better with accommodations and

attractions conveniently located on the same premises. An ideal start-

up, a resort business has excellent prospects since many people love
traveling, and luxury resorts are always a popular destination. From
developing a solid business plan and scouting out the property where
you will build, to promoting and marketing your resort, if you cover all
the bases you'll be well-positioned for success.

Creating a Business Plan

Creating a comprehensive business plan should be your first step in starting a
resort. The project will usually require a huge investment of funds for the land
purchase and construction of the hotel and amenities, so you'll need a convincing
business plan to attract investors or to get the bank to take a chance on you.

Your business plan should include your costs for the land and any licenses, permits
and approvals you'll need, your estimated time for completion of the project and
when you plan to open to the public. Describe your vision for your resort business
in realistic, colourful detail so that the bank or investors are inspired by your
passion and will want to get on board and finance your dream.

Ensure you develop a unique branding and catchy name for your
resort, and if you plan to operate your resort as part of another hotel
operator's franchise, you will need the requisite licenses, permits and
approvals before, during and after the start of construction.

Choosing a Location
Don't settle for the first piece of land you see. Thoroughly check out appropriate
properties within your budget, taking photos and making notes. You will want the
absolute best location available for your resort, keeping your target customers in
mind as you decide on the perfect spot.

Your location needs to be picturesque, ideally waterfront with a sandy beach and
berths for yachts, or near a lake or ocean. It will need to be large enough to
accommodate all your amenities such as swimming pools and other outdoor
features and attractions. It will need to be reasonably easy for your guests to get
there. You'll need spacious parking, and plan for activities such as a golf range,
tennis courts, water-skiing and para-sailing. You can also rent small boats and
recreational watercraft like jet skis.

Think about all the attractions you would like to add to your resort such as an
amusement park, waterpark, a park designed for kids with swings and slides, and
even a boutique mall featuring resort wear such as sun hats, designer clothes,
bags and shoes. Consider anything you can think of that visitors would rave about
and recommend to their friends and family, including an upscale restaurant, bar
and nightly entertainment.

Depending on your location, your resort may be a contemporary or exotic, beach-

front design with tiki huts, or traditional or modern hotel/resort complex designed
for equestrian and skiing activities.

Ultimately, your resort needs to be a place where people can unwind, relax and
enjoy themselves. When they rent a suite or villa at your resort, they will want to
kick back and forget their problems.

Promoting Your Resort

Once you have your resort built and ready for your grand opening, you don't want
to be wondering where your customers are. Start promoting your resort the
moment your break ground. Create a buzz around your project and get everyone
excited about the new upcoming resort in town. Your resort's name will be top of
mind before it's even open, with people planning their vacations in advance.

Some ways of promoting your resort include blogging, social media and delivering
flyers or full-color brochures to public facilities, stores and businesses in the area.
Hire a designer or build your own website where you can showcase the entire
project from ground-breaking to completion with beautiful photos, list of amenities,
venues and attractions and even a mouth-watering menu and featured
entertainers. Offer early-booking discounts and other perks for booking before the
official grand opening.
I need a business plan for a small resort. How do I get
started?

Before diving into in the extensive and time-consuming creation of your

resort’s business plan, remember you will in most cases be in or at the hotel at all
times, even and especially during the holidays.

What kind of a resort do you want to open? A boutique resort, a budget resort, a
wellness resort, a trade fair and conference hotel resort or maybe a small cozy family
resort in the countryside?

 AS A HOTEL WONER YOU ARE THE CONTACT PERSON AND SOURCE OF

INFORMATION FOR YOUR GUESTS AND YOUR STAFF.

Insight into The Hotel Industry

For example in 2014 there were around 30,000 1-5 star hotels. About 8,000 of these
are certified by the German Hotel & Catering Association. The total turnover was EUR
25.6 billion from 424 million overnight stays. The accommodations boom is expected
to continue in the future. These positive market signs make opening a hotel a
feasible and lucrative enterprise on one hand, but indicate very high competition on
the other, not least from the digital revolution (AirBnB, Couchsurfing etc.).

Target Group and Offer

What kind of clients am I looking for?

– Companies booking your resort for retreats / workshops / conferences

– Special interest groups booking your hotel for meetings with other businesspeople
and associates from work
– Guests seeking rest, relaxation, spa procedures
– Families looking for a casual and friendly place to stay
– Day, weekend and event tourists
– Guests passing through looking for the lowest price
– Gourmet guests looking for something special in the area of cuisine

Are representatives of the target group to be found in the area where you would like
to open a resort? This is an important question that must be analyzed and answered.
Finally, the demand determines your services and must be reflected in your hotel’s
business plan.

For example, businesspeople prefer a certain atmosphere with good services and
are less price-sensitive. In terms of location, they would prefer a hotel with parking
spaces in the city center or near to banks, administration centers and other
administrative offices.

Guests looking for rest and relaxation would appreciate a sophisticated spa
package offer. They would love a quiet hotel in the suburbs or near to parks or other
green areas.

A child- and family-friendly hotel on the outskirts of town with easy access to the
downtown area and a wide range of activities in the vicinity will become quite
popular, as long as you also offer games in the hotel and childcare.
Every tourist coming to your city to go sightseeing or to visit an event places great
emphasis on informative, personal service at relatively low prices. A central location is
key for these tourists. Those just passing through would be happy with a simple
room and a good breakfast at the lowest possible price.
Gourmet guests place emphasis on a star kitchen with great ambiance (luxurious,
elegant or extravagant). This standard must prevail throughout the hotel so that
these guests feel comfortable and will be happy to come again.

 HOTEL/ RESORT BUSINESS PLAN: WHAT KIND OF CLIENTS AM I

LOOKING FOR?

Resort Business Plan Tip 3: The Current Competition

Don’t forget to look at the competition through a magnifying glass. This includes a
location analysis. The German Hotel & Catering Association provides the relevant
stats and city plans. This way you can find out if there is already someone offering
this service at your site of choice or you have a real chance of penetrating the
market.

Legal Framework

The legal framework is not only an essential part of your business plan, but includes
important provisions for running a hotel. The liquor license is important, for example,
if you want to offer foreign guests drinks, especially alcoholic ones. Furthermore, you
must comply with the regulations of the construction authorities. Architectural
drawings and floor plans must be presented upon request. The labor inspectorate
and the health department check whether the conditions in the kitchen, the
patisserie, the food storage, the utility room, the laundry rooms and especially the
guest rooms meet the sanitation requirements.
The most important rules should be considered when developing a resort business
plan. You must demonstrate background knowledge in this area to your financial
consultant no later than during the finance interview. You should be familiar with the
relevant legislation right from the start, starting with labor and youth protection
through to personal rights, tax law and contract law.

 BE SURE TO ALSO LITTLE THINGS.

Price Formation and Marketing

Price Formation

Running a hotel is always associated with high fixed costs, especially electricity and
staff costs. The latter are contingent on the standard you offer. If you’re going
upmarket, the costs will be many times higher than if you open a B&B or budget
hotel because the professionals you need always receive remuneration that is above
the agreed rate. For a leased hotel the installments are to be included as agreed. The
figures and the profit margin of the kitchen will also vary with the level.

Marketing

The marketing of the hotel should be considered very carefully when writing a
business plan. Apart from the high costs that are generated in this sensitive branch,
the marketing of a hotel is key in terms of market penetration. A meaningful and
interesting website alone is not enough, not even if the hotel site has decent and
professional links. Registering in portals such as Hoga Portal & Preisvergleiche with
over 250,000 unique visitors means that anyone who is interested will find your hotel.
Advertisements in local and regional print media must be supplemented by ads in
national magazines. It is very important that the hotel be featured at trade shows and
tourism fairs. This is the perfect presentation platform, including the target group.
The hotel must be featured in various travel brochures. You will need to make and
build contacts with travel agents and tour operators.

 RUNNING A HOTEL/ RESORT IS ALWAYS ASSOCIATED WITH HIGH FIXED

COSTS, ESPECIALLY ELECTRICITY AND STAFF COAST

Hotel Business Plan Bonus Tip: Building A Solid Loyal Client Base

Man is a creature of habit, so he likes coming back to places where he feels

comfortable. You will have to attain this status with a lot of hard work and high costs.
You have to be on the spot at all times. Give high priority to the issue of loyal clients
when writing a business plan for your hotel.

In this article we outlined the most essential information in terms of creating a hotel
or resort business plan. Should you need help writing a business plan, would like us
to create a business plan for you or require other business plan services, please do not
hesitate to contact me!
 Resorts are places where people go for relaxation. Hence the place should be
serene, with good scenic beauty, preferably near a water body (rivers or lakes)
, or near hills or forest. Ideally it should be located within 100 Km from a main
city or town, so that day visitors, who do not wish to stay the night over can
commute to and fro and get back by night. The Resort should present a
refreshing ambiance, with attractive landscaping and lot of open spaces for
people to enjoy fresh air and nature, which are so absent in a city life.

The most important thing is therefore the choice of location. It should be accessible
by normal mode of transport ie Rail, Bus etc, because not all your visitors will have
their own cars. In some cases, it could be a remote place for its natural beauty, in
which case you have to have pick up and drop arrangements to & from the nearest
rail/ Bus station.

The size of Land you procure is also important, as ideally you should have over 60%
open space. You should have an outdoor rest hall for day visitors, a multi cuisine
restaurant, a children`s block and spacious area with proper landscaping done. The
Resident block should have spacious room, well done up to give the visitor value for
money.
Owning and running your own resort may well sound tempting, because we always
associate the word „resort/hotel“ with free time, relaxation, nice guests and a lot of
things to do. And it’s exactly this: “a lot of things to do” that start-up founders should
consider when developing a resort business plan.

I strongly recommend you to check out business plan for a small resort It gives you
everything you need to know to great resource for small resort started.

Importance of Hotels in a country:

Hotels are of great importance for any country. They facilitate foreigners visiting the
home country with accommodation, food, comfort depending upon their type of visit.
Either someone has to come for a recreational purpose, for international
conferences, for businesses meetings or just for tourism, hotels are the first thing
they plan before entering the country. This is how hotels bring out a strong feeling of
community across different cultures.

Good hospitality by the hotels adds a lot to a country’s good image. People coming
from other countries spend the money to contribute towards the local economy, if
they would not find the comfort worth spending their money, it will eventually home
country’s loss; and the hotels must not miss on such opportunities. This is why, it is
very important that hotels in the country are considered valuable and progressive
policies and plans should be made in order to facilitate hotel sector of a country.

The hotel niche comes under the umbrella of hospitality sector. Hospitality is
basically all about welcoming people, guests, tourists from the other country and
making them familiar with your own country’s culture, norms, food and lifestyle.

Hotel sector contributes a lot to the progress of a country. The growth is quite rapid;
hence, there is a lot of potential when it comes to having your own hotel business. In
the last two decades, this sector has seen an exceptional boom in terms of
investment, revenue generation, Market share and overall profits.

Economic importance of a Hotel

business:
Statistics have repeatedly shown that almost 10 percent of the world’s GDP is being
contributed by hotel sector. Governments around the world understand this sector as
an integral one; therefore, proper policies and plans are made to support the
continuously evolving dynamics of hotel sector. Not only, they are growing nationally
and globally at an exceptional pace, but they are also becoming a source of
providing employment opportunities to a number of people. The level of service of
hotels is mainly dependent upon its efficiency of plans and its manpower. Not only
educated people in the management role are being hired, but the less educated
ones also get a chance of being recruited in hotels; which enhances the benchmark
of employment opportunities of a country.

The biggest and the most direct impact of the hotel sector is on the tourism. Both of
these industries are inter-linked in terms of progressive development. As long as
hotel sector of a country is stable and secure for the potential visitors, people would
prefer to come frequently in that country. This will lead to a boom in tourism sector;
therefore it should also be a part of plan.

The major source of income in the hotel sector is the travel and dining in. These two
factors contribute to net income of the hotels. Thus, it is very important that you craft
an efficient solution for the accommodation and food needs of the people travelling
across other countries. Your management needs to be smart enough to rake care of
their comfort and luxury beyond their basic needs. This is how hotels generate
enough wealth and business for the country, thereby making a great deal of
contribution in the economy.

The flow of people across the border for their businesses or for the sake of
recreational purposes enables hotel and tourism sector to make the most of their
comfort staying needs. And when this is catered efficiently, a level of trust is being
built which enhances the competency level of the hotel industry. This is where the
need of having an effective hotel business sample comes in; and, in order to do that,
it is important that you chalk out a sample hotel business plan template before
starting out properly. Our team at OGS Capital is here for you to make that sample.

Types of hotels businesses:

Before you go ahead with starting the plan of your own hotel, you must know the
types of hotels that exist in the industry. Hotels can be divided into following types:

Business Hotels:
Business hotels are the ones that cater specifically to the people with all their
business needs across the country. They constitute the largest share in the industry
and are a centre of attention for people flowing in and out of the country for their
businesses. Hotels belonging to this class are usually more expensive than the other
ones observing the luxurious preferences of business class; hence, they take a
significant portion in the generated wealth of this industry. Business hotels are best
suitable for corporate meetings, conferences, local or international seminars, foreign
delegates etc.

Suites:
Suites are basically rooms with additional capacity for living rooms along with
bedrooms. These are being preferred by many individuals for a comfortable stay at
another place. People who are a bit outdoorsy like to stay in a room with free space
and a delightful view, and suites are the best option in such cases. Of course, the
prices vary from the normal and conventional rooms.

Breakfast Inns:
Inns are basically built for the overnight stay. The management of the inns is
responsible for serving breakfast to the guests the next morning. People who look for
the options for staying a night somewhere prefer to go to an inn.

Motels:
Motels are also built on the same principle as inns. They are usually built on the
national highways, or the roads between the cities. Guests tend to stay for the rest in
motels. They also provide parking space for the people with their own conveyance.

Categorization of hotel industry:

The categorization of hotel business depends upon various factors such as, locality,
type of hotel, market segments, diversity of services, pricing, sizing, and rating.

Locality:
Locality is the geographical location where you plan on building your hotel. The
options in locality include centre of the city, suburban areas, outskirts of a city,
near/at highways etc. Opting for localities mostly depends upon various factor, out of
which, the most important one is the amount of capital you have.

Types of hotels:
Hotels can be divided into different types which include resorts, casinos, motels,
suites, inns, guest house, villas etc. You can plan on building any of these depending
upon the capital and your preferred locality.

Market segmentation:
Market segmentation, generally, depends upon the kind of audience you want to
target for your hotel. It further depends upon the socio-economic class of your target
audience. If you want to build hotel for people belonging to section A of socio
economic class, then you are most likely to opt for resorts, casinos, villas, suites etc.
Whereas, if your target audience include people belonging to middle level of socio
economic group, you can build economic hotels and motels that can be afforded by
people belonging to that particular segment.
Diversity of services:
Diversity of services includes the extent to which you include the kind of services in
the hotel. Boutiques, suites, inns, lounge; breakfast inns are all kind of services
which you may want to select for your potential hotel business.

Pricing:
Hotels can also be categorized on the basis of pricing depending upon your targeted
audience and the level of facilities you aim to provide to the customers.

Sizing:
Sizing of the hotels can be varied. The capacity to incorporate number of rooms,
then having to decide if you want to keep the space of the room large or small are
the kind of options you decide.

Ratings:
Hotels can also be categorized on the basis of ratings. A 5 star of 5 diamond hotels
would be different from the one star in terms of services, affordability and
accessibility.

SWOT Analysis of hotel Industry:

SWOT (Strength, weaknesses, opportunities, threat) is a great tool that helps
businesses understand its position in an industry. With the help of SWOT,
businesses are able to perceive their situation mainly in an internal context. Like any
other businesses, hotel sector is also subjected to some strengths, weaknesses,
opportunities and threats. These can be explained as:

Strengths:
The hotel businesses are of global scope. It is an open market with great
international potential. People are never going to stop flying across the countries,
and hence, this sector will never face a decline in terms of revenue, provided that
hotels keep on evolving with time. One of the biggest strengths of hotel sector is its
ability to provide people with jobs. Hotels comprises of countless people appointed in
the upper as well as lower management, which gives a chance to many people to
enhance their skills in hotel industry and to run their household expenses as well.

Another strong aspect of hotel business is that it provides people with a sense of
home while they are away from their homes. This feeling can prove to be very
beneficial if hotels management knows how to make the most of it. The more people
will feel at home, the more it will be easier for them to keep on visiting.

Hotel sector is quite dynamic and it adapts the global changes aptly. The way global
markets are open and continuously evolving; the only businesses that go further
towards achieving their goals are the ones which remain in the race. Therefore, the
chances of development in this particular sector are quite bright and open.

Weaknesses:
Even though the industry yields high profitability and revenue, there are times when
the footfall of visitors and guests become limited due to various factors. Such kind of
situation is a drawback to the hotel industry. Starting a hotel business requires a lot
of capital. It is not easy to start with a small amount of money. Either you should
have enough capital to start or you have to find an initial investor, which is quite a
difficult task in the start of any business.

The hotel industry is quite sensitive to the country’s political and economic
conditions. It affects the profits and footfall of the customers vigorously, which can
prove to be a difficult situation for the business. Since the hotel industry offers variety
of luxury and comfort at good expense, its revenue if often subjected to high tax
ratio. This can result in low profit margins and slow productivity of the business. This
also affects the salaries of employees working in the hotels, which eventually makes
them give up their jobs.

Another aspect which adds to the weakness of the hotel industry is its inability to
maintain a balance between the cost and quality of services. There are two extremes
to it; the bigger and expensive hotels tend to charge more for their services in
exchange for quality and comfort while on the other hand, the hotels with lower rates
have to compromise on the quality. This makes it difficult for the people from middle
class to get access to the good standard thereby limiting the chances for hotels to
cover the wider base of customers.

Opportunities:
The hotel industry holds a lot of potential when it comes to providing employment
opportunities for women. There is lot of potential opportunities open for females to
work which empowers them and helps the economy indirectly. It can open doors to
the home based female workers as well who have expertise in cooking continental
and local cuisines.

Due to the new wave of globalization, it has become frequent for people to travel
more for their recreational and business needs. Businesses are expanding on a
global scale and adopting strategic international practices on a rapid scale, hence,
making people move across the oceans every now and then. It will have a great
impact on the hotel industry in terms of more visitors and inter country business
needs.
What hotels can further do in terms of opportunities is to incorporate attraction
factors for the tourists. If they can build or even create such attraction factors, the
chances of frequent visit will increase further. The attraction factors can be of any
type, it could be new technology that does the work for guests in the limited amount
of time. Or it can also be an additional amusement part or site that can be built inside
a hotel to attract more visitors.

Threats:
One among the few eminent threats to the hotel businesses includes the instability of
the condition of the country. No one would like to compromise on their safety while
they are away from the home. There are few areas in some of the countries which
often remains unstable due to unexpected circumstances; the hotels that are built
around such areas will more likely to suffer from the loss as a result of this.

The competitive market can also prove to be a threat for the hotel businesses. With
hotels being built around every nook and corner of the cities, competition can be
raised to an exceptional extent. This can force the strategy makers to cope up with
situation by crafting effective and sustainable strategies that are beyond the
conventional practices; thereby putting pressure on the decision makers and upper
management. The experts that we have on board with us at OGS capital are well
experienced in combating the potential threats for your business that you may
encounter in early stages. The hotel business plan example can be used to know
about the various threats of this business.

PESTLE Analysis of hotel industry:

PESTLE (Political, Economic, Social, Technological, Legal, and Environmental)
analysis is a great strategic tool to help ventures understand their position in the
external context. With the help of PESTLE analysis, companies are able to craft
effective strategies in order to make their business thrive in both local and
international platform. The PESTLE factors that affect this industry can be explained
as:

Political
Political scenarios of a country affect a lot on its business sectors; especially in the
case of hotel industry, even a little amount of political instability ends up being a
trouble for the ventures. Political unrest cause tourists and, people flying in for other
purposes, to think for the alternative options; as no one wants to face any kind of
threat while being away from home. Strikes, civil wars, clashes between different
groups create a very negative image of the country for people wishing to visit it. Thus
it limits the plan of business growth directly and indirectly.

In addition to this, the situation of terrorism and chaos also stops people from coming
into the country. The wave of terrorism has affected a lot of things on a global level.
As a result of this, this industry has had its fair share of suffering. This discourages
people to come to the country for any kind of purpose; be it recreational or business.

The strategic relation between two countries is another factor that affects hotel
ventures. Unless two countries are at peace with each other, there cannot be any
person who would prefer going to that particular country. Hence, this creates a
significant impact on the profitability of a venture. The hotel business plan template
devised by team of OGS Capital will cover the basic political aspects of your venture
to help you understand the picture.

Economical
The economic fluctuations in the country prevent the people coming in for their
business needs. It is important that economic condition of the country is in a good
shape. Inflation rate, tax brackets, spending power, exchange rates and interest
rates are the indicators from which economic progress of a country can be depicted.
If these indicators are favorable for the hotel ventures, their ability to flourish in terms
of revenue will be enhanced.

Also, the seasonal factor of customers is a huge turn off for these ventures. The
seasons in which there will be lower footfall of the customers will suffer from
decrease in income levels; thereby making it difficult for the management to run the
administration and manage expenses.

Rising tax and inflation level on an international scale has also put a limit to the
spending power of people across the globe. They prefer the cost saving element in
making choices among the decision to stay and opt for the one in which they have to
spend the least. This causes adverse effect on the established hotels which provide
ease and facilities to the customers in exchange for good cost. Our economic
experts of OGS capital will assist you devise a kind of plan that covers all the basic
economic fundamentals of any venture in the industry to save you from all the
hassle. This plan, or let’s just say sample, will have the strategies to make people
choose your venture over others.

Social
The social factor in this industry cannot be neglected. The lifestyle of people,
demographics, preferences and other various things are the factors which influence
this particular industry in many ways. There are people who prefer visiting other
countries at just the time of their need, whereas some people would go for the sake
of spending their leisure time, without having a solid plan. This situation can be, both
adverse and beneficial.

The people who will come from Asian backgrounds will have expectations of getting
special kind of economical packages, which makes it difficult for the management to
attain a balance between their cost and revenues. Whereas, the customers who
belong to the developed countries will more likely to pay easily for the services,
without the demand of extra offers and packages. This creates a certain kind of
segregation among the customers in terms of their spending preferences.

The cultural aspect also affects this industry in several ways. People coming from a
more hospitable environment will have higher expectations from the hotels as
compared to the ones who are not very bothered with the level of hospitality. This
raises the concern for management team to meet the diverse expectation of people.
Either way, the place can be a great source of diversity as it makes people from
different cultures aware of the culture of the host country. The experts, at OGS
Capital, will get to know about all the social aspects of your venture through hotel
business plan example, which can prove to be really useful in the beginning. This
can prove to be an effective sample to follow.

Technological
With the exceptional technological revolution that has been taking place all over the
world, it has become equally important for hotel ventures to adapt to this revolution
to enhance their services for the customers. Many hotels are now utilizing good
sources of technology to incorporate modern practices in their management and it
their customer service level.

The ease with which people can book their rooms online using a website has
brought a lot of benefits for the hotel ventures. This has led to invention of a new
business niche within the industry i.e. online hotels booking. People from all over the
world can access the information of the hotels online and read reviews about their
service levels. After doing enough research, they choose the hotels suitable to their
needs and cost aspect. This chain of businesses leading to businesses is what boost
the economy and represent progressive development of a country.

In addition to this, with the help of online strategic tools and frameworks, the
management is able to craft their policies and strategies according to the trend going
on in the industry. With the help of statistical tools available online, businesses are
capable of assessing the customer preferences based on their choices and lifestyle
related data. This makes it convenient for the startups to plan their future strategies
based on the emerging trends that are most likely to get popular in the upcoming
months. They can also cater to the potential threats in the industry using that data.
The expert, at OGS capital, will make sure to enlighten you about all the
technological facilities with the help of sample that can be incorporated by your
startup.

Legal
The legal constraints and policies also affect this niche in many ways. The kind of
land/specific locations on which you should be building, the dimensions which are
allowed, the architect according to the acceptable standards, safety issues of the VIP
delegates, getting a license, copyrights procedures, tax issues, regulatory
frameworks are all the kind of legal issues that businesses are bound to follow if they
want to operate within a country.
It is advisable to have legal consultants on board before getting into starting their
businesses officially. Our team at OGS Capital will make it easier for you to cover all
the legal aspects of your hotel business plans.

Environmental
The hotel sector utilizes various sources of energy to provide facilities to its
customers which brings the need of environmental sustainability practices into the
use. Generation of own electricity even in small hotel business plan requires mass
consumption of fuel which leads to producing various harmful gases in the
environment. Therefore, a check on the environment preserving practices is a must
before you start your operations officially.

Marketing Strategies:
The marketing win in this particular business mainly relies on the customer
happiness level; and hence, strategies are built upon the idea of achieving customer
happiness. The conventional marketing practices such as bill boards, flyers, and
television advertisements do help to spread the information to a wider audience but
these are a bit too vigorous strategies for the beginning of a business. Hence, for
starters, a rather slow and a bit more penetrating strategy is required for targeting
potential customers. Another thing that attracts the customers is the level of facilities
offered; such facilities must be properly advertised and highlighted through effective
advertisements to attract masses regardless of the geographical boundaries.

A wisely planned social media strategy can also prove to be a good source of
marketing for your businesses. One among the many ways to gain global recognition
is through reaching online audience by effective messages. Positive feedbacks from
the people, good reviews about the facilities can help build a high rank on social
media sites. This adds credibility and enhances authenticity of your business among
people and potential customers.

Administration:
All businesses require many people to run their administration. These people
comprises of diverse educational backgrounds with managerial capabilities to
manage the operations. CEOS, Floor manager, Human resource manager,
accountants, financial analysts, and cashiers, guest officers, marketing advisors,
maintenance engineers, front desk officers, security guards, cleaners and IT
technician are all the kind of people needed by hotel administration.

All these people are responsible for delivering the allocated services to the
customers and upper management. Therefore, it is important that they work in
collaboration and hence, require a kind of manager who knows how to get things
done by their subordinates. Apart from assuring happiness of the customers, the
happiness of these personnel is also quite mandatory so they can perform their roles
efficiently. We, at OGS Capital, will do our best to connect you with the right kind of
people who are passionate about building your business as well. Our template will
have processes through which you can hire people after thorough screening of their
capabilities.

Financial Strategies:
Managing finance of any business is a crucial aspect which needs to be in the
control of highly skilled manpower. The capital must be allocated with expertise and
this allocation must be open to questions for investors as they have to invest their
money so they need to know all. Assets, liabilities, expenses, incomes and loans are
the basic areas that cover your business; therefore, it is necessary that these are
handled by experienced financial experts. If your numbers are not good in the
balance sheet and income statement, there is no way you can earn the confidence of
your stakeholders and potential investors. Hence, our financial team at OGS Capital
will assist you in formulating profitable financial strategies, on which you can build
financials of your business. To perform well on the financial side is a factor that must
not be neglected, so we will be performing the financial activities on your behalf to
ensure that you can manage the allocation of resources and capital with much ease.

Factors of success:
There are various factors on which the success of hotel sector depends on; these
factors can either build or demolish the sector depending upon the utilization in an
effective way. Its success relies on its services which include accommodation, food,
comfort etc. These services further dependent upon few other things as:

Contented guests
The satisfaction and contentment of the guests is the biggest factor that contributes
to the success of this particular business. In fact, customer satisfaction is becoming
an obsolete concept now and customer happiness, instead, is becoming the main
focus. The management must have effective strategies to carry out activities in such
a way that becomes the factor of happiness for the customers. At OGS Capital, our
focus will be helping you in crafting the kind of hotel business plan template that will
incorporate a lot of customer happiness strategies.

Facilities
The success of the hotel business also depends upon its facilities. And it’s not only
about the number of facilities that it provides; instead, it’s more about the quality of
those facilities. The more good is the quality of services being delivered to the
customers, the more it will contribute to their comfort level and hence, their
satisfaction level would definitely come closer to the happiness level.
Repeat visits of guests
The repeated visit of the guests also indicates the success of a hotel business. And
the frequent visits depend upon the level of services they receive during their stay. If
they will develop likeliness for the services they get, they will most likely to come
again next time they are in town.

Better quality, affordable pricing

Everyone wants to make efficient use of his financial resources without wasting their
money. The same kind of approach also applies to this sector when one has to opt
for the kind of place where he can get the maximum advantage without spending
extra. Therefore, management has to do the cost benefit analysis and set the kind of
prices which don’t seem too much for the basic services.

Innovation
Innovation is the game changer in the age of industrialization and globalization. No
business can thrive without constantly innovating and evolving strategies according
to the changing environment. Hence, the success of this business also depends
heavily upon the kind of innovation that is brought to its operations.

Ease of customers
Ease of customers generally goes for all businesses but for this business, it
becomes ten times more important, as the success of it relies on the level of comfort
and ease provided to the customers. Therefore, management needs to focus more
towards the ways through which they can provide ease for the customers. Our
template will incorporate all the strategies required to achieve ease of customers.