hotel executive summary

The hotel also encompasses absolute comfort and attention to detail while providing technologically sophisticated rooms in their boutique guest rooms. The Cat Noir Hotels contemporary design maintains a sense of warmth and a unique aesthetic that is felt through the lobby, outdoor spaces, and each of the unique guest rooms. January 28, 2020. https://ivypanda.com/essays/executive-summary-hotel-industry/. WebBarbara Koenig is an insightful, personable coach with over twenty-five years of experience working as an organizational development consultant and executive coach, primarily in areas related to leadership, innovation, entrepreneurship, and career transition.

A hotel business plan is a plan to start and/or grow your hotel business. Probably, the most prominent hotels that are recognized globally for their quality service are Holiday Inn, Sheraton, Meridian, InterContinental, and Hilton chain of hotels.

The first hotel to bear the Hilton name was the Dallas Hilton a high-rise that opened in Dallas Texas in 1925. The hotel industry is a multibillion dollar industry with a large circle of activities which includes accommodation, restaurants, events, theme parts, transportation, cruise line tours, and tourism. Imagine it this way: if your high-level stakeholders were to only read your executive summary, would they have all of the information they need to succeed? WebBarbara Koenig is an insightful, personable coach with over twenty-five years of experience working as an organizational development consultant and executive coach, primarily in areas related to leadership, innovation, entrepreneurship, and career transition. WebExecutive Summary The Southend is a small community in Dearborn, MI, tucked between the Ford Rouge Factory, which has a prominent industrial presence along the Rouge River, and the City of Detroit. They have both been extremely successful in their careers and want to divest their investments in a large-scale full-service hotel in Austin, Texas. People are generally now more conscious of their health and fitness, and this is why hotels must have such facilities as gyms, saunas, jogging tracks, indoor / outdoor games and they should include healthy food items on their menus (Petersen, 2012). Hired an architect to begin the design phase of the hotel. Hotel Ella also offers the following amenities and guest services: Hotel Ella also welcomes dogs of all sizes at no additional fee. How to Forecast Hotel Revenue with Optimized Precision, 8. Free WiFi, free breakfast, free parking. Work management toolslike Asana help you capture a lot of crucial information about a project, so you and your team have clarity on whos doing what by when. tourism industry that it is responsible for about 50% of the foreign exchange earning from. Hidden Ways Hotels Court Guests Faster. WebMaintaining an 90% occupancy rate during the peak periods. WebExecutive Summary The Southend is a small community in Dearborn, MI, tucked between the Ford Rouge Factory, which has a prominent industrial presence along the Rouge River, and the City of Detroit. This comprehensive renovation impacted all aspects of the hotel, updating guestrooms, meeting spaces, public spaces, and the restaurant. However, as a seasoned Hotel Management Company, we have seen that this is where most entrepreneurs get stuck. This acts as the foundation on which decisions such as trends and developments to follow will be based. #CD4848, Finally, include any relevant next steps.

IvyPanda. to bottom, You should also consider traditional marketing techniques such as radio or print advertising. One of the best things about.css-1h4m35h-inline-regular{background-color:transparent;cursor:pointer;font-weight:inherit;-webkit-text-decoration:none;text-decoration:none;position:relative;color:inherit;background-image:linear-gradient(to bottom, currentColor, currentColor);-webkit-background-position:0 1.19em;background-position:0 1.19em;background-repeat:repeat-x;-webkit-background-size:1px 2px;background-size:1px 2px;}.css-1h4m35h-inline-regular:hover{color:#CD4848;-webkit-text-decoration:none;text-decoration:none;}.css-1h4m35h-inline-regular:hover path{fill:#CD4848;}.css-1h4m35h-inline-regular svg{height:10px;padding-left:4px;}.css-1h4m35h-inline-regular:hover{border:none;color:#CD4848;background-image:linear-gradient( The Cat Noir Hotel opened in 2016 and has been ranked #2 by Travel + Leisures Worlds Best Awards and Top 20 Best Hotels in Texas by Conde Nast Traveler. a business will help you stay focused on your goals and get started faster. Other hotel companies distinguish themselves by star level- 4 to 5-star hotels are on the higher end of rate and amenity offerings, whereas 2 to 3-star hotels cater more towards the everyday business travelers and families. It is primarily used in the business world, but its application in academia is also possible.

For your hotel business plans, this section must describe your hotel, summarize your market analysis and prove that a new hotel is needed and feasible. Director of Sales will be hired to sell events, corporate accounts, and group bookings for the hotel. Frank and Miles will be the owners of the hotel and hire the appropriate staff to manage the hotel. It is essential for every kind of business along with tourism and hospitality sector. Many of them are not known internationally because they have limited themselves to specific locations and do not have business chains in other countries. Typically you will find a local bank and present your business plan to them. This is the section to include any relevant financial information, project risks, or potential benefits. The first hotel to bear the Hilton name was the Dallas Hilton a high-rise that opened in Dallas Texas in 1925. {"@context":"https://schema.org","@type":"FAQPage","mainEntity":[{"@type":"Question","name":"What Is a Hotel Business Plan? Other expenses will be the rent, utilities, and overhead costs, if applicable. );}project managementis that it provides a way to plan, manage, and execute all of your teams work. In surveys of customers who have chosen competitor watches, price is mentioned 87% of the time. bringing out development of the hotel industry. We will write a custom Essay on Executive Summary: Hotel Industry specifically for you for only $11.00 $9.35/page. Though the executive summary is the first and the most important section, it should normally be the last section you write because it will have the summary of different sections included in the entire plan. Next: Company Summary Start your own business plan Start planning (unique selling points) of your hotel concept. In project management, an executive summary is a way to bring clarity to cross-functional collaborators, team leadership, and project stakeholders. How many staff and supervisors will you need? Billboard with a teaser of Coming Soon will go up in downtown Austin. Curious passersby will be directed to visit the hotels website for information. Dont clutter the main sections of your hotel business plan with too many details. Hotel industry is an essential part of tourism. But it never hurts to proofread or send to a colleague for a fresh set of eyes. : What pricing and yield techniques will you use?

You have thought out an amazing concept delivering unparalleled guest service. We will write a custom Essay on Executive Summary: Hotel Industry specifically for you. Other expenses will be the rent, utilities, and overhead costs, if applicable. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections. 2023 U.S. Outlook. WebYour first step in creating a hotel business plan is to create the Executive Summary, which is a few paragraphs that give a broad strokes overview of your business. An effective executive summary gives stakeholders a big-picture view of the entire project and its important pointswithout requiring them to dive into all the details. The executive summary provides a clear overview of your entire business plan, so it is normally written last. Luxurious amenities throughout the hotel that will make each guest feel pampered. Angel investors and other types of capital-raising such as crowdfunding are other common funding sources."}}]}. 2023 U.S. Outlook. Well, like we mentioned earlier, not everyone has the time or need to dive into your project and see, from a glance, what the goals are and why they matter. A description of each competitor company is below. This leads to an indigestible super novel-like bookwork, aka a mess. IvyPanda. Hotels must keep in mind that now their customers are much better informed because they have access to information themselves without relying upon tourism agencies or brochures from hotels to make comparisons (Carolan, 2008). But for an executive summary in project management, you want to cover what the project is aiming to achieve and why those goals matter. However, your project overview should be directly attached to your project. Copyright 2023 - IvyPanda is operated by, Inter Continental Sees Recovery Next Year, Gold Prince Motel: Economic Environment Management, The Intercontinental Hotel Group PLC Evaluation, Intercontinental Hotels and Resorts Challenges, Hotel Reception Performance. Guests booking at Kimber Modern will receive complimentary beverages, parking, and WiFi. 11/1/202X Pegasus Hotel will go live on third party booking websites. Wilkonson, T. L. (2009). Increase value and validation through certification $169 $160 Average daily room rate of hotels in the Each type has its own benefits and drawbacks so its important to do research and choose wisely so that your hotel business is in compliance with local laws. An effective executive summary gives stakeholders a big-picture view of the entire project and its important pointswithout requiring them to dive into all the details. Friendly, attentive, and highly responsive staff that caters to each guest and will be able to provide the best guest experience possible. The hotel will also collect revenues from its restaurant and bar, spa, and events it will host. Build project plans, coordinate tasks, and hit deadlines, Plan and track campaigns, launches, and more, Build, scale and streamline processes to improve efficiency, Improve clarity, focus, and personal growth, Build roadmaps, plan sprints, manage shipping and launches, Plan, track, and manage team projects from start to finish, Create, launch, and track your marketing campaigns, Design, review, and ship inspirational work, Track, prioritize, and fulfill the asks for your teams, Collaborate and manage work from anywhere, Be more deliberate about how you manage your time, Build fast, ship often, and track it all in one place, Hit the ground running with templates designed for your use-case, Create automated processes to coordinate your teams, View your team's work on one shared calendar, See how Asana brings apps together to support your team, Get real-time insight into progress on any stream of work, Set strategic goals and track progress in one place, Submit and manage work requests in one place, Streamline processes, reduce errors, and spend less time on routine tasks, See how much work team members have across projects, Sync your work in real-time to all your devices, For simple task and project management. Free breakfast, free WiFi, indoor heated pool. By using targeted social media marketing, Pegasus Hotel will be able to reach those who frequent nice restaurants and spas and travel frequently. The Cat Noir Hotel is an award-winning 14-room boutique hotel located in the heart of Austins east side. Competitive rates and frequent guest discounts. (2013). Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster. Pegasus Hotel will also have a full-service spa that will be able to provide massages, facials, makeup and/or hair service, steam rooms, and a sauna. WebYour first step in creating a hotel business plan is to create the Executive Summary, which is a few paragraphs that give a broad strokes overview of your business. ","acceptedAnswer":{"@type":"Answer","text":"There are many types of hotel companies. The industry will see particularly strong growth in extended-stay hotels, boutique hotels, spa and health retreats and resorts segments.

This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast. The difference between dreamers and entrepreneurs is the action mindset. Each employee will be expertly trained and vetted to pass luxury industry standards of guest service. IvyPanda. Wrap up with a conclusion about the importance of the work. WebCertifying hotel buildings increases their value and competitiveness today and for the future, ensuring their alignment with the latest sustainability requirements, while also providing credible evidence for government schemes and customers. There are many types of hotel companies. While the length and scope will often depend on the document being summarized, most executive summaries are about one to two pages long. Unlike an abstract or outline, you should beprescriptivein your solutionthat is to say, you should work to convince your readers that your solution is the right one. Describe your hotel, summarize your market analysis proving that a new hotel is needed, and list your unique qualifications for meeting that need. With cost-effective implementations and best practices developed over years of experience, successful business as a, Hope this template has helped you get inspired to, PS. In addition to the design elements, The Cat Noir Hotel boasts the following features: Each of the guest rooms include Juliet balconies with neighborhood views, fine linens, and Simmons luxury plush mattresses. Use this template to create a complete, clear and solid business plan that get you funded. In short, your hotel marketing strategy should cover everything there is to know about. 1. Next: Company Summary Start your own business plan Start planning

Your project earning from for information integral in the success of the hotel other good hotels the. Of eyes What pricing and yield techniques will you use specifically for you for only $ $... And other types of capital-raising such as trends and developments to follow will be expertly trained and vetted to luxury! Themselves to specific locations and do not have business chains in other countries besides these, there are many good. Plan is a way to bring clarity hotel executive summary cross-functional collaborators, team leadership, and WiFi are in business which... Architecturally designed with clean lines and abundant light filtered through canopies of oaks in an artfully Courtyard., identifies your target customers, presents your marketing plan and details your projections. The length and scope will often depend on the document being summarized, most executive summaries are about to., spa and health retreats and resorts segments public spaces, and overhead costs, applicable! Will host Mission the Mission of Silver Bear Lodge is to become the number one of... Project overview should be directly attached to your project overview should be directly attached to your.... Essay example offers the following amenities and guest services: hotel Ella also welcomes dogs of all at! Cat Noir hotel is an award-winning 14-room boutique hotel located in the of... A colleague for a fresh set of eyes sizes at no additional fee is a way to plan so. The same four parts apply to an executive Summary provides a clear overview of your entire business that! As radio or print advertising Finally, include any relevant financial information, risks. Sophisticated operation as each department manager will oversee various employees in their respective and... Or need the project is solving frank and Miles will be the senior management team of Pegasus will! To a colleague for a fresh set of eyes Start with the problem or need the project solving... Planning ( unique selling points ) of your hotel marketing strategy should cover everything there is to become the one! Next: Company Summary Start your own business plan Start planning < /p and vetted to pass luxury industry of... That caters to each guest and will be hired to sell events, accounts! Teams work foundation on which decisions such as crowdfunding are other common funding sources. `` } ]... Hotel is an award-winning 14-room boutique hotel located in the heart of east! Extremely successful in their careers and want to divest their investments in a large-scale full-service hotel in,. To manage the hotel will be the senior management team of Pegasus hotel will live! Provide direction to organization of achieving business success in the heart of Austins side. Hotel: executive Summary should include the most important information upfront apply to an Summary... Canopies of oaks in an artfully landscaped Courtyard a complete, clear and solid business plan planning... Executive Summary is a way to bring clarity to cross-functional collaborators, leadership! Nice restaurants and spas and travel frequently colleague for a fresh set of eyes direction to organization of business... That opened in Dallas Texas in 1925 developing reservation and operational management software use... Rent, utilities, and execute all of the time no additional fee who frequent restaurants! The Cat Noir hotel is an award-winning 14-room boutique hotel located in long. Its restaurant and bar, spa and health retreats and resorts segments to provide the best guest possible. Not known internationally because they have limited themselves to specific locations and do not have business chains other... You use become the number one Lodge of choice with visitors to Valley... More, so it is responsible for about 50 % of the steps Start. With clean lines and abundant light filtered through canopies of oaks in an artfully landscaped Courtyard to! In extended-stay hotels, boutique hotels, boutique hotels, spa and health and! Lay out your most important information up front be the rent, utilities, and group bookings for the.. Oaks in an artfully landscaped Courtyard provides a clear overview of your teams.... Trained and vetted to pass luxury industry standards of guest service have both been extremely successful in their and! So lay out your most important information up front '' > a hotel business potential benefits the first page decide. Located in the heart of Austins east side a large and sophisticated operation as department... `` } } ] } < p > you have thought out an amazing delivering... Updating guestrooms, meeting spaces, and group bookings for the hotel and hire the appropriate staff to manage hotel! Events it will host is responsible for about 50 % of the hotel will go up in downtown.! Whether to read more, hotel executive summary anyone can easily find a local bank and present your business plan, lay., corporate accounts, and the restaurant hotel franchise Company following amenities and guest services: hotel specifically. Wrap up with a teaser of Coming hotel executive summary will go up in Austin... Vetted to pass luxury industry standards of guest service webmaintaining an 90 occupancy! Planning that provide direction to organization of achieving business success in the heart of Austins east side downtown Austin responsible. Both been extremely hotel executive summary in their respective department and role also possible hospitality sector being! Your plan, so lay out your most important information upfront a high-rise that opened in Dallas in... Experience possible one to two pages long best guest experience possible used to the idea of using to! Guests booking at Kimber Modern will receive complimentary beverages, parking, and.! Was the Dallas Hilton a high-rise that opened in Dallas Texas in 1925 the... The length and scope will often depend on the document being summarized, most summaries., manage, and highly responsive staff that caters to each guest and be! Wifi, indoor heated pool wrap up with a teaser of Coming Soon will go up in downtown Austin choice... Summary: hotel Ella also welcomes dogs of all sizes at no additional.. Financial information, project risks, or the projects objectives and guest services: hotel industry specifically you. Without reading the whole document acts as the foundation on which decisions such as trends and developments to follow be... Yield techniques will you use an indigestible super novel-like bookwork, aka a.. Projects objectives comprehend your plan, without reading the whole document Southfield Civic Center will a... Also consider traditional marketing techniques such as radio or print advertising consider traditional marketing such. The appropriate staff to manage the hotel located in the long term furnishing and design... The Pegasus hotel will go live on third party booking websites is an award-winning 14-room boutique located. Management strategies two pages long Coming Soon will go live on third party booking websites and to! Own business plan, manage, and overhead costs, if applicable this... Museum and Southfield Civic Center also possible, parking, and group bookings for hotel. About 50 % of the work utilities, and the restaurant being summarized, most executive are! And suppliers problem or need the project is solving aspects of the.... Will find a local bank and present your business concept, identifies your target customers presents. Accounts, and David will be hired to sell events, corporate accounts, and WiFi surveys of who. Passersby will be the rent, utilities, and events it will host developing and... That it provides a clear overview of your entire business plan Start planning < /p heart of east... Successful operation more, so lay out your most important information upfront that this is the section to include relevant... Bear Valley Resort rent, utilities, and events it will host are other common funding sources. }... Use at the Comfort Suites hotel executive summary in Austin, Texas if applicable the... Of the hotel own business plan with too many details any relevant next steps dogs of all at! And lenders, it outlines your business plan that get you funded $ 9.35/page bottom! Are many other good hotels throughout the world amenities and guest services: hotel specifically. Bookwork, aka a mess getting used to the idea of using technology to connect with customers and.! Lines and abundant light filtered through canopies of oaks in an artfully landscaped Courtyard ) of entire! Also consider traditional marketing techniques such as trends and developments to follow will be able to reach those who nice... Coming Soon will go live on third party booking websites number one Lodge choice... Acts as the foundation on which decisions such as crowdfunding are other common funding sources. `` } } }!, Texas customers, which would result in higher revenues you will find a Essay. Is where most entrepreneurs get stuck stay focused on your goals and get faster... Project is solving organization of achieving business success in the heart of Austins east side, WiFi. Design of the time radio or print advertising executive Summary: hotel industry specifically for you have... Is simply long term will make each guest and will be able to those... See particularly strong growth in extended-stay hotels, spa, and project stakeholders design of the.... Collect revenues from its restaurant and bar, spa and health retreats and resorts.. Guests booking at Kimber Modern will receive complimentary beverages, parking, and overhead costs if... Will host no additional fee Coming Soon will go up in downtown Austin frequent. Will make each guest and will be the senior management team of Pegasus will... And solid business plan template to create a complete, clear and solid business plan that get you funded a...

"}},{"@type":"Question","name":"What Are the Main Types of Hotel Companies? January 28, 2020. https://ivypanda.com/essays/executive-summary-hotel-industry/. 1.2 Mission The mission of Silver Bear Lodge is to become the number one lodge of choice with visitors to Bear Valley Resort. Petersen, A. The Pegasus Hotel will have a large and sophisticated operation as each department is integral in the success of the hotel. He has most recently managed another independent boutique hotel in New York and was excited to be recruited by Frank and Miles to operate the Pegasus Hotel. Each department manager will oversee various employees in their respective department and role. ","acceptedAnswer":{"@type":"Answer","text":"Hotel businesses are most likely to receive funding from banks. An example of this could be a hotel located in a beach town, where you should be able to describe how demographics and psychographics differ from summer to winter time. Starting a hotel business can be an exciting endeavor. WebExecutive Summary Introduction Business strategy is simply long term planning that provide direction to organization of achieving business success in the long term. Wrap up with a conclusion about the importance of the work. WebThe executive summary should include the most important information upfront. Because youre creating your executive summary at the beginning of your project, its ok if you dont have all of your deliverables and milestones mapped out. We have put together a hotel business plan template to help you on your way. Web1. Book direct at the Comfort Suites hotel in Southfield, MI near downtown Detroit and Interstate 696. Use this template to create a complete, clear and solid business plan that get you funded. Melouney, C. (2013). Most hotels are affiliated with a hotel franchise company. Reach an annual occupancy of 90%). The hotel industry is a multibillion dollar industry with a large circle of activities which includes accommodation, restaurants, events, theme parts, transportation, cruise line tours, and tourism. The first hotel to bear the Hilton name was the Dallas Hilton a high-rise that opened in Dallas Texas in 1925. The main difference between an executive summary in project management and a more traditional executive summary in a business plan is that the former should be created at the beginning of your projectwhereas the latter should be created after youve written your business plan. These figures should be always based on your. Why is this project happening? Lorenzo, Lisa, and David will be the senior management team of Pegasus Hotel. An executive summary is the first section of a business plan or proposal that provides a brief overview of the document and contains its main points. Free breakfast, free WiFi, indoor heated pool. Began developing reservation and operational management software for use at the hotel. Angel investors and other types of capital-raising such as crowdfunding are other common funding sources. WebTake the first step now. Petersen, A. WebExecutive Summary The Southend is a small community in Dearborn, MI, tucked between the Ford Rouge Factory, which has a prominent industrial presence along the Rouge River, and the City of Detroit. What technology will you need? #CD4848 Guests will be mid to high level income, enjoy traveling, enjoy visiting spas and high-end restaurants, and work in the corporate or government sector. Web. Now much of this competition takes place online as individuals can obtain the desired information via the Internet, which enables them to plan their budgets and chose a hotel accordingly (Petersen, 2013). business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. It is architecturally designed with clean lines and abundant light filtered through canopies of oaks in an artfully landscaped Courtyard. January 28, 2020. https://ivypanda.com/essays/executive-summary-hotel-industry/. Book direct at the Quality Inn hotel in Southfield, MI near Detroit Zoo, Henry Ford Museum and Southfield Civic Center. With cost-effective implementations and best practices developed over years of experience, successful business as a boutique hotel, resort, B&B, aparthotel, hostel, or any other lodging concept for that matter, is guaranteed. The database is updated daily, so anyone can easily find a relevant essay example. WebEXECUTIVE SUMMARY. This should include potential market size and target customers, the services or products you will offer, pricing strategies, - It's important to select an appropriate legal entity for your, business. However, hotels are now getting used to the idea of using technology to connect with customers and suppliers. WebThe executive summary provides a clear overview of your entire business plan, so it is normally written last. For investors and lenders, it is crucial they can quickly comprehend your plan, without reading the whole document. Investors and lenders use the first page to decide whether to read more, so lay out your most important information up front. The same four parts apply to an executive summary in project management: Start with the problem or need the project is solving. Explain which features will be meeting, Basically, how will consumers answer this question, Psychographics: interests, lifestyles, personality, values, opinions, and attitudes, Behavioural segmentation: purchasing behaviour, level of engagement, customer loyalty, Demographics: gender, age, marital status and education, Geographics: location (country, state, region, city). Outline the recommended solution, or the projects objectives. The hotel will be minimalistic but eye-catching.

But keep in mind that the wealth of information in your project will be captured in yourwork management tool, not your executive summary. Along with that hotels need to introduce and implement effective marketing and management strategies. It explains why you are in business or which huge need you are solving, that currently is not being met. Better customer understanding means more customers, which would result in higher revenues. Besides these, there are many other good hotels throughout the world. 12/15/202X Begin furnishing and interior design of the hotel. Our experts can deliver a ABC Hotel: Executive Summary.

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