The location for your hotel is highly linked with the opportunity that you feel there is for

your hotel. In the right location, where competitors are not fulfilling all customer needs, a hotel can thrive. However, in a beautiful neighborhood that happens to have heavy competition from existing hotels, success may not be so forthcoming. Likewise, if the neighborhood leaves too much to be desired, you may not be able to price the rooms low enough to encourage travelers to stay at your hotel, even if you are within walking distance of key attractions.

1- You need people around to become your potential guests and to use as valuable employees 2-You need attractions in terms of Touristic sites Historical Places , Amusement Parks , Natural Parks , Festivals etc

Something that makes People want to be

there

3-You need to have ways to get there in terms of Accessibility You have to be capable to offer people different forms of Transportation

Comfort , Time , Security and Price Range

Both in terms of

And do not forget to add the Shuttle options between the transportation point to your Hotel
4-You need to be able to offer

decent standarts of Accommodation .

This includes the wheather conditions , Hygiene Standarts ,Health and Safety regulations as well. You need a good reputation so people will find it prestigious to be there.

5-You need to estimate Government Regulations in terms of Human Resources Management , Tax Policies , Financial Aids , Energy Policies , Resources in terms of equipment and other items you will be needing in running your business , Customs Policies and Most important their Tourism Policies in terms of Visa Procedures , boundries and regulations .And Sustainability of the Governments.

And you need to Consider all these Five Steps at the same time

But could you able to see any people around , in terms of Both Potential Guests or Potential Human Resources as Employees

Macca Picchu. is one of the Most Desirable places at South America .But According to Unescoregulations .They can only serve up to 800 visitors per day , which covers only %10 percent of the Total Demand

Turkish Rebuplic of Northern Cyprus It used to be the one of the most popular Island in the Mediterranean Sea . But , because of its recognition problems It can have only 20% of the Visitors among its capacity..

1- Only Few Air companies can fly to TRNC. 2-Can not accept any International Flight . 3-Can not buy Electricity from neighbour country.And it is too expensive to produce Electricity for only 50.000 people. 4-Not enough consuable /clean water resources , due to lack of High mountains which gets a lots of rain.

5- Visa procedures can turn into a pain . 6-Most countries announce it As unsafe . 7-Most Travel Insurance companies do not cover your loss. 8-International Finance companies do not recognise you in terms of Travel Checks, Money Transfers and Credit Cards. 9-It is almost impossible to hire non-residents. 10-Even your country may not be shown on a map by most countries.

Sustainability
Before 1970s Lebanon and Cyprus were the main tourist destionations .For a Hollywood star it used to be very prestigious to have a summer home in these destinations .After wars that held in that area these destination names are forgotten.

Sustainability
At 1990s Kusadasiwas one of the most popular Gambling Destination within Turkey .Government banned Gambling and all Hotels lost half of their value in terms of Assets.

Reputation.
Everybody knows Sicily , everybody knows Sibiria ,Everybody knows Baghdat , Everybody Heard of Chernobil .But no one wants to go these places .. So Reputation does not refer to Knowing only .Knowing is important of course but it is valuable with a good reputation only.

The next step is to know how customers will answer the question "why my hotel?" How will you tailor your services to the customers you want to attract, whether they are families with kids, couples on romantic vacations, business people, or international tourists? Consider the combination of amenities, atmosphere, location, and services that will be right for your customers. Always keep in mind that strategy means making tradeoffs - it is almost impossible to be everything to everyone and succeed. You might have to forgot certain customer target markets in order to make your service offering perfect for your most desired customers.

How can I choose my Target Market?

You need to cover a demand or you need to create a new demand which people has not discovered yet

Before 1970s in Kusadasi people were thinking that to open a vacation resort was the most unfortunate think to do for an investor. The first Kusadasi Hotel Hotel Imbatwas built in early 1970s and in the first place the land owner did not want to sell the land to the investor, because he did not want the investor to loose his money. After he built the hotel , within few years it was the most popular tourism destination in Turkey .

Remember the 5 steps that we have considered earlier while discussing about the Location. - Would you consider building a hotel in Las Vegas in 1950s . - In 1980s if you would attemp to open a hotel in Communist Russia everybody would have laughed at you but today it is one of the strongest economy that spents billions of US dollars as tourism expenditures.

There are millions of people travelling around and millions of people with thousands of reasons are staying at a hotel. It is impossible to satisfy everyone .We are all aware of that .So what we need to do is to find a specific way, a unique way to satisfy some or any group within these people. Whatever it is that you will be serving at your hotel will be demanded for some groups for sure.The main important think in creating your Strategy is to put what ever it is you have planned in its best condition. People will come.

Planning
A simple, clear, but persuasive hotel business plan will be necessary not only for you to think through how you will take on the opportunity, but for you to convince any investor or lender that you have the ability to do so. No savvy investor will be attracted by a lack of planning. There is no excuse to not create a plan with the wealth of information available on writing business plans and even business plan templates tailored to the hotel business sector.

Hotel Business Plan:

4 Keys to make a Successful Plan

A hotel business plan is going to serve as a guide for your successful launch and operation of your hotel business, but, most importantly, as evidence to investors and lenders that you are worthy of their investment. No investor is likely to put thousands or millions of dollars into your hotel business unless you've paid attention to the following in your plan.

1) Industry & Competitive Analysis

Investors will want to see that you have a good overall understanding of what it means to be in the hotel industry .You must show that you have a grasp of industry trends, how those trends will or won't impact your business, and why. Then investors want to know that youve analyzed your competition and understand the local conditions you will operate within. Show how you can exploit competitors' weaknesses and why their strengths won't put you out of business.

2) Customer Analysis
Investors want to know that you are clear on who your guests will be. When they read vague statements such as "we will be the best hotel in the city for families, business travelers, and tourists" they will worry that you are defining your customer market too broadly. The readers of your business plan should see that you will serve one customer group so well that you will be able to steal customers from the entrenched competitors in the market. Show this by demonstrating your understanding of who these customers are, what they want out of a hotel, and how your service will fit those demands.

3) Financial Plan
Preparation a financial plan must be based on detailed research into the start-up costs of the hotel, the ongoing costs of doing business, and the revenue levels you can project. These revenue projections are based on the number of rooms you will have, an average nightly price per room and the expected occupancy rate ( average is around 60%). These numbers will give you the RevPAR (Revenue per available room), a key metric that will show investors that you are savvy about the hotel industry.

Financial Plan
In terms of costs you need to watch these percentages Labor Operations Net Profit 30/35% 30/35% 30/35%

4) Management Experience
Investors dont have to see only the plan that is well thought out and that the financial assumptions are reasonable, but that the management team you have chosen is well positioned to deliver. You may not have in-depth experience as a hotel professional, but don't let that stop you from showing how whatever management experience you have will translate into your ability to operate the hotel. If you choose someone else to be the manager, the same applies. Show a bio and resume of key managers or a plan for how you will find and hire them. Finally, the investor must see that you are adequately compensating this manager so that they know he or she will stick around through the launch. Ideally, this should include company stock or profit sharing that will tie their compensation to the hotel's success.

Fundraising
Whether you buy an existing hotel, build one from scratch, or renovate a building into a hotel, you will need millions of dollars to invest. Assuming you do not have this money, you will need to seek bank loans and/or angel investment in your hotel. As you will be working with considerable assets, dependable and experienced legal and accounting help is a must as you create deals with investors.

Hospitality Mindset
Finally, you must have an ingrained sense of how you want your guests to be treated so that you can instill this mindset in your top management and they can in turn teach this to the staff. Staying at a hotel can be stressful and uncomfortable, and guests demand the highest attention to their needs or they will have no problem complaining loudly and publicly. If employees sense you have higher motives than customer satisfaction, customer service may fall by the wayside and your hotel business may fail or never take off in the first place.