To construct a Luxury to mid scale hotel in Niagara Falls,New York-USA

Paper instructions:

Subject: Hospitality Business Plan

Topic: To construct a luxury hotel in Niagara Falls, New York-USA

Finance : ( 3 years forecast, its a newly constructed hotel, so construction period and forecasts for 3 years after need to be considered)

•Financial goals and objectives
• Market share
• Marketing
• Occupancy forecast and seasonality`
• Profit and loss statement
• Cash flow statement
• Balance sheet
• Ratio

Sales and Marketing

•Market Description
•Tourism in Niagara
•Swot Analysis
•Porters Five Forces
•Target Market
•Sales & Marketing strategies
•Goals and Objectives
•Co-branding
•Brand Recall Purposes
•Value Proposition
•Promotion
•Social Media
•Company Website
•Destination Visibility
•Positioning
•The means in which you promote your product to the target audience

Human Resources

•People Strategy
•HR Planning
•Recruitment
•Staff Allocation
•Training
•Evaluation
•Compensation
•Technology Support

Rooms Division Manager

•Front office
•Housekeeping
•Security
•Spa
•Kids Corner
•Engineering and maintenance
•Loyalty Programme

F n B Manager:

•Kitchens
•All F n B outlets (3)
•Banquet facilities ( conferences and ballroom)
Type of Hotel to be constructed

There are 25 rooms on each floor 11 city view and 14 river view, therefore, 25 in to 6 floors of standard rooms equals 150 room. Same is applied for deluxe rooms which is also 150, and 7 suites 4 river view and 3 city view, 2 Two bedroom suites of 79.2 sq.m therefore total inventory of rooms is 309. There was an addition made of 2 two bedroom suites in order to accommodate the space. Please look at the measurements file to understand the hotel outlook and use it as your guide line. Total floors will be 16 and 309 rooms hotel to be constructed ( basics towards the business plan )
Also please find attachments for more detailed clarity. I would also like to highlight this is a very important assignment, the grade on this assignment will determine me achieving a degree as it is my final assignment to create a business plan.

READ ALSO : Philosophy

HOTEL LOCATION: NIAGARA FALLS,NEW YORK-USA

Guidelines for initial strategic business plan
Please note the following points for formatting your strategic business plan:

• Your initial plan is to be prepared for a 3-year period.
• The time frame for your initial strategic business plan will be years 1 through 3.
• You have been provided with one year of trading history (Year 0).
• Year 0 was the last trading year of the previous management.
• Year 1 is the first trading year for your management team.
• The first year of your financial (e.g. occupancies, average room rates, covers, average cheques, revenues and expenses) and other forecasting (e.g. marketing action plans) is to be prepared on a month-by-month basis. The second and third forecast years can be annual totals.
• You will operate your hotel in the HOTS simulation for years 1 through 3.
• Write your plan with your owners as your readers/audience

As you write your plan, consider how you will present it, and how you can shape your information into a presentable format.

Business Plan
Your business plan should consist of the following six sections, which are described in more
detail below:

1. Executive summary
2. SWOT analysis
3. Market Analysis
4. Vision statement
5. Objectives
6. Financial targets
1. Executive summary

Although this is the first section of your business plan, it should be the last thing that you
write.The executive summary is a short, concise description of the main points of your plan. Think
of it as a ‘hook’ for busy readers and prepare it with a variety of stakeholders in mind,
including investors, the bank manager, employees and the local community.

2. SWOT analysis
A SWOT analysis is a strategic planning tool that allows you to evaluate the Strengths,
Weaknesses, Opportunities and Threats involved in your forthcoming business venture.
Strengths and Weaknesses are internal to your organisation, while Opportunities and Threats
arise from the external environment. This analysis will help you to match external possibilities
with internal capabilities and to mitigate those factors that might hold your business plans
back.

3. Market Analysis
In this section you need to:
1. Briefly discuss the current market situation.
2. Describe how you feel the market is likely to evolve over the next three years.
3. Identify your target market segment or segments and give the reasons for your
choice.
4. State clearly why these customers will buy your products and services.
5. Give brief details of your intended pricing strategy, including how your pricing
may change over time.

4. Vision statement
The vision statement is a description of your business, not as it is now, but how it will be in the
future. In this section you should describe your business as it will be in three years time.
Include different perspectives in your account. What will it look like to your customers, your
employees, the bank manager, your investors and the local community? But rather than a list,
your vision statement should be an account, easy to read and inspiring.

5. Objectives

Your business’s objectives are, in broad terms, the results you aim to achieve. They must be:
1. Clear
2. Achievable
3. Measurable
Here you should concentrate on your business’s non-financial objectives as financial targets
are the subject of the next section.
Once again, you should take into consideration the perspectives of all of your stakeholders.