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Executive Summary The executive summary provides a clear overview of your entire business plan, so it is normally written last.Investors and lenders use the first page to decide whether to read more, so lay out your most important information up front.Place is your hotel’s physical location, as well as your website and any third-party booking sites you use.
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Industry Analysis The industry analysis can seem overwhelming, as most cities feature dozens to hundreds of hotels. A resort destination with on-site restaurants and activities? Those that target a different market, as well as restaurants and other businesses that target a different need within your market, are known as indirect competitors.
However, you need to focus only on your relative market, which is the portion of the hotel industry that mirrors your hotel. Decide what niche you want to target, and then research the projections and trends that affect your niche. Describe each direct competitor, or hotel that targets your market, individually and explain how your hotel differs from theirs.
Appendix Your full financial projections belong in the appendix, along with any other documentation that helps prove your claims.
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Attach letters from key partners, patent details for any new automation technology, and similar documents.
It is also your key to securing important funding from outside investors and lenders.
Business Planning 101Your business plan contains a snapshot of your hotel as it exists today along with a detailed growth plan for the next three to five years.
Highlight your key team members’ backgrounds, focusing on those elements that prove their ability to grow a company.
A strong advisory board can be helpful in overcoming weaknesses if you can show how the board will directly affect the company’s growth.