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In certain instances, particularly with our early stage company, this business plan also serves as a strategic plan.
A mission statement is a single sentence that describes why you are in business, such as, "To be the hotel with the highest level of service in the industry." Your objectives are the things you hope to accomplish with your hotel business, such as, "Maintain a 75 percent occupancy rate throughout the year." The next part of your hotel business plan is to provide an analysis of the hotel industry.
This plan successfully raised capital for property acquisition, renovation, and company start-up related costs. Discussions and interviews were held with a variety of individuals involved with other similar businesses to develop the proforma data, review the market potential, and competitive situation.
Moderately priced between the high-line hotel properties and the older motel strips, Seven Elms Resort shall fill an affordability niche not presently available in Benzie County. Seven Elms Resort shall specialize in meeting an individual or couple's needs.
A good business plan for your hotel also clearly communicates your target market, which are the types of customers who will stay at your hotel most often.
Create a list of several customer segments that are likely to stay at your hotel.