These are all important questions that should be dealt with prior to getting into the business. It will be extremely important you prepare yourself well, do a lot of research and develop a detailed business plan to ensure success. Unfortunately I still see too many startup hotels fail due to little planning. In my previous articles I already pointed out some common mistakes made in the pre-opening phase of hotels.
In my next few blog articles we will be covering various important aspects and steps of how to open your own hotel. I will focus on: I hope these tips will help fellow entrepreneurs start successful new hotel businesses!
Latest Articles Get Expert Help! Hotel Management Blog Hospitality industry news, articles, publications, trends, tips, ideas, strategies and best practices …. Jobs - Hotel and Revenue Management. Internships - Hotel and Revenue Management. Protect your hotel brand from Brandjacking. On the other hand, capital expenditure remains high. Labor costs are lower for boutique hotels because of their smaller size in relation to chain hotels. Lastly, the boutique hotel business will continue to blossom because people will always have need to lodge for various reasons especially when they are out of their base.
There are rooms for any entrepreneur who is interested in running a boutique hotel business in the United States of America to start in any capacity and still maximize profit in the business. We are conveniently located in the worlds headquarter of casinos and games.
We are certain that our values will help us drive the business to enviable heights and also help us attract the number of clients that will make our boutique hotel fully booked all through the year. We are going to be a customer-centric boutique hotel with a service culture that will be deeply rooted in the fabric of our organizational structure and indeed at all levels of the organization.
With that, we know that we will be able to consistently achieve our set business goals, increase our profitability and reinforce our positive long-term relationships with our clientele, partners, and all our employees as well.
Our boutique hotel facility will be decorated in an exquisite and elegant facade, so much so that it will be a conspicuous edifice in the city where it is located. We will also install a free Wi-Fi that will enable our guests surf the internet with their laptop in the boutique hotel room free of charge, and there will be wireless access in all the public areas in the hotel; we will also provide mobile phones for loan to business travelers for their convenience so as to enable them stay in — touch with their family members, friends and business partners.
No doubt our business class guest rooms will provide our customers with a warm and comfortable home away from home, large banquet venue as well as Chinese and Intercontinental cuisine. We are set to give our esteemed guests an unforgettable experience whenever they patronize our hotel. The fact that we want to become a force to reckon with in the hospitality industry means that we will provide our guests with fitness room, social room, self-service laundry room and business center; for the purpose of business or leisure and more.
In all that we do, we will ensure that our guests leave with an unforgettable experience that will make them want to come back as well as recommend our boutique hotel to their friends, family members and business partners. We are well prepared to make profits from the industry and we will do all that is permitted by the law in the United States to achieve our business goals, aim and ambition.
Our product and service offerings are listed below;. Our vision is to become one of the leading boutique hotels — brands in Las Vegas — Nevada and all over the United States of America. Our mission is to deliver reliable, genuine, caring and excellent services superior to what our competitors can offer in any location where our boutique hotel will be situated and to ensure that our boutique hotel enjoys over 90 percent occupancy in most parts of the calendar year.
The success of any business is to a large extent dependent on the business structure of the organization and the people who occupy the available role. We will ensure that we put the right structure in place that will support the kind of growth that we have in mind while setting up the business.
We will ensure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stakeholders the owners, workforce, and customers. As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;.
Our plan of opening our boutique hotel in Las Vegas — Nevada is to test run the business for a period of 3 to 5 years to know if we will invest more money, expand the business and then spread our tentacles all over Nevada and key cities in the United States. We are quite aware that there are several boutique hotels, hotels and motels all over Las Vegas — Nevada and even in the same location where we intend locating ours, which is why we are following the due process of establishing a business.
We know that if proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be well equipped to confront our threats.
So also, we have a management team that has what it takes to grow a new business to profitability within record time. Just like any other business, one of the major threats that we are likely to face is economic downturn.
Another threat that may likely confront us is the arrival of a new boutique hotel and even chains of hotels in same location where ours is located. The trend in the hospitality industry is such that there are peak periods and off peak periods, hoteliers know this and they have been able to make provision to properly handle the change in season.
For example, during summer or during any major sporting events or business summit, most hotels in Las Vegas are almost fully booked.
As a matter of fact, that is the period that some hotel make the money that will sustain the business for the rest of the year.
Be that as it may, some boutique hotels are well positioned and they enjoy reach patronage all through the calendar months of the year. Over and above, hoteliers are quite aware that they not in the industry for quick returns on their investments, but to steadily build a brand that can become a global brand while growing their profits year in year out. There is hardly any organization who intends sending their staff members on official assignment or individuals or families going on vacation who would not need a place to lodge.
Most people that go on vacations or official assignments outside their locations look forward to the hospitality they will get when they lodge in boutique hotels cum hotels. In view of that, we are in business to offer our boutique hotel services and amenities to the following groups of people and businesses;.
A close study of the hospitality industry cum boutique hotel industry reveals that the market has become much more intensely competitive over the last decade. As a matter of fact, you have to be highly creative, customer centric and proactive if you must survive in this industry.
We are aware of the stiff competition and we are well prepared to compete favorably with other boutique hotels, chains of hotels and motels in and around Las Vegas — Nevada. Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category startups boutique hotels in the Boutique Hotels industry, meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.
We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time.
We are in the Boutique Hotels industry to maximize profits and we are going all out to ensure that we achieve or business goals and objectives. One thing is certain when it comes to boutique hotel services, if your boutique hotel is centrally positioned, you will always attract customers and that will sure translate to increase in revenue generation for the business.
The sales projections are based on information gathered on the field and some assumptions that are peculiar to startups in Las Vegas — Nevada.
If YES, here’s a complete sample boutique hotel business plan template & feasibility report you can use for FREE. Boutique Hotel Business Plan – Sustainability and Expansion Strategy 20 Tips on How to Buy a Hotel Franchise With No Money.
We put together a guideline / template of how to write a hotel business plan. Simply follow our example OK, so you have decided to realize your dream and open your own hotel. Boutique Hotel Design; Resort Design; Hostel Design; Small Hotel Design; Revenue Management. How will your direct marketing work? What will is the plan /5().
Where to begin starting your own hotel business? Here are some tips on how to open a new boutique hotel or small bed and breakfast. Read more!/5(). The Boutique Hotel The growth of the boutique hotel sector internationally is widely reported. The traditional chain hotels, such as Rezidor SAS and Intercontinental, are now testing the market.
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