Project Management-HOTEL BUSINESS PLAN

ObjectiveBack to TopThis course project is designed to help you learn more about the hotel, restaurant and food service industry while having some fun at the same time. Your assignment is to complete the initial sections of a business plan for a new hotel with at least one food service operation within the hotel property such as a public restaurant, catering, or banquet department. You have the alternatives of becoming a franchisee of a major hotel chain or creating an independent hotel operation.GuidelinesBack to TopThe paper should be no less than 3,000 words and formatted in APA or MLA style. At least six authoritative, outside references are required (anonymous authors/web pages are not acceptable). These should be listed on the last page titled “Works Cited.” The 3,000 word minimum does NOT include the Cover Sheet, Table of Contents, and Works Cited pages.You can be creative and gather best practices used in the industry and incorporate this data into your business plan. Please be sure to find a hotel with a food service operation concept with plenty of data available for developing a business plan.The Right Way to Build the initial sections of a Hotel with a Food Service Operation Business PlanBuilding a business plan forces students to ask–and to answer–questions that are vitally important to the subject company’s ultimate success.Your business plan must include the following sections. Please label the ones in bold and make sure each content item is addressed in sequential order to ensure maximum points:Cover SheetTable of contentsExecutive SummaryNo more than two pages in lengthPrepared after the entire analysis is writtenCaptures the essence of the analysisSummarizes all major sectionsHighlights the key points in the analysis and serves to interest the readerStatement of PurposeProposed company’s mission statementBrief history of the business opportunityCurrent situationWhat makes your proposed business unique?How will you create value for your customers?Key success factors for your proposed businessName and legal structureDescription of the businessManagement philosophy: vision mission, goals, objectivesType of organizationManagement qualifications, experience, and capabilitiesBusiness insuranceDescription of the concept, licenses, and leaseThe hotel concept and themeHotel type and market segmentThe food service concepts and themesHotel licensingLiquor license, health and fire permitsBusiness licenseMarket analysis and strategyDescription of target market demographics, psychographics, lifestyles.Market potential (size, rate of growth)Competitive analysisStrengths, weaknesses, opportunities, and threats (SWOT analysis)Location, ease of access and parking.Nature of competitionPotential new hotel competition.Potential new restaurant and food service competition.Location analysisDescription of the areaCommercial residential profileTraffic flowAccessibilityHotel Room Configuration, Food service menus, Beverage Menus, and PricingFood services menusBeverage menusHotel room type availableHotel room ratesAdvertising and promotional campaignObjectiveTechniquesTarget audienceMeans of communicationsSchedule of communicationsConclusions and SummaryWorks CitedThings to think about as you develop your project:Detailed market research. Prove that you know the target customers and the problems the product or service solves for them.A detailed competitor analysis of hotel and food service operations. An analysis should show that the student understands the competition and its strengths and weaknesses.A description of the hotel and food service management team you are planning. The universal factor that potential lenders and investors look for–a sound management team.A distinct vision or concept of your hotel and food service operations. Students should clearly explain the vision or concept of what their subject hotel and food service stands for and how they will create a sense of excitement among investors.Proper format and a flowing writing style. “The first requisite of a business plan is that it be interesting to read, well-written, and smooth-flowing.”Conciseness. Business plans must include enough detail to answer potential lenders’ and investors’ questions without overloading them with unnecessary clutter.A killer summary. The executive summary may be the toughest part of a business plan to write. It’s the section almost every potential lender or investor reads first. A good executive summary captures the essence of the plan and piques the reader’s interest–all in no more than two pages.Customization. Be careful to avoid the cookie cutter look. Use guides and resources as a starting point for your analysis. Make sure your business plan presents the subject company in the most favorable way.Topic selection (25 Points)Please note that you are required to post your business plan topic to the Course Project DropBox in Week 2. Please provide the name of the business and a review of your concept and theme. Your paper should be a minimum of 500 words.As you consider your course project, think about what types of lodging operation interest you the most and what you have the most experience with. For example, you have a variety of lodging operations to choose from that includes franchise and independent lodging operations. It can be a full-service hotel, limited-service hotel, lodge, resort property, country inn, bed and breakfast, or something else entirely. Ask yourself: where do I feel most comfortable when I stay at a lodging operation? The answer is probably a good place to start in developing your concept.On another note, you will want to develop a concept that has some precedence: Is there available information on a similar concept? Can you do the research online or in your town? If not, you may want to focus on something that has a lot of existing material that can be applied to your new idea. As always, give credit where credit is due: Cite your sources!Course Project Outline and Draft (50 Points)Submit a draft of your business plan to the Course project Dropbox in Week 5. I will review it and offer suggestions for improvement. This will be my only look at your work before your final submission. At this point, I would expect to see all of your research completed and most of your sections fully developed. You’ll use the next two weeks to make improvements based on my recommendations. (Graded, 50 points)General Expectations for your Course Project (170 Points)Submit your finalized Course Project in Week 7. A hotel with food service operations within the hotel property business plan is required for the course. The paper should be no less than 3,000 words and should be formatted in APA or MLA style.(See the HUB for a tutorial on APA and MLA). At least six authoritative, outside references are required (anonymous authors/webpages are not acceptable). These should be listed on the last page and titled “Works Cited.”Your business plan must include all the sections as listed above. Please create a heading for each section. The individual section heading should be in bold letters. Make sure each section is addressed and all subsections are covered within the paper. The subsections must also be separated by headings. It is required that the sequence of the sections follow the project format and flow as shown above to ensure maximum points.The complete paper will include and address all topic sections within the project. The clarity of the paper will include measurements of proper spelling, grammar, and citations.Total: 245 PointsGrading RubricsBack to TopThe following grading rubric will be used to assess your work:Category Percentage DescriptionDocumentation and Formatting 14% Completion of entire paper to include and address all topic sections within the project. Please see the sample table of contents below.Organization and Cohesiveness 17% A quality project will include an introduction based upon a well formed thesis statement. The logical order of the content will be derived from the thesis statement. The content will be properly subdivided into sections derived from the outline. In a quality project, the concl
usion will summarize the previously presented content, and will complement the thesis statement from the introduction.Editing 14% A quality project will be free of any spelling, punctuation, or grammatical errors. Sentences and paragraphs will be clear, concise, and factually correct.Content 55% A quality project will have significant scope and depth of research to support any statements. Relevant illustration or examples are encouraged. A quality project will employ the sound use of reasoning and logic to reinforce conclusions.Total 100% A quality project will meet or exceed all the above requirements.Best PracticesBack to TopThe following are the best practices in preparing this paper.Cover Page – Include who you prepared the paper for, who prepared, and date.Table of Content – Use the outline as reviewed above.Summary and Conclusion – Summarizing is similar to paraphrasing but presents the gist of the project in fewer words than the original. An effective summary identifies the main ideas and major support points from the body of your report. Minor details are left out. Summarize the benefits of the ideas and how they effect the industry.Additional hints on preparing the best possible project.Apply a three step process of writing… Plan, Write, and Complete.Prepare an outline of your research paper before you go forward.Complete a first draft and then go back to edit, evaluate, and make any changes required.Use visual communication to further clarify and support the written part of your report. Example graphs, diagrams, photographs, flowcharts, maps, drawings, animation, video clips, pictograms, Tables, and Gantt charts.Work Cited – Use APA or MLA format.SuggestionsThis is not a business analysis of an existing operation. You are not a consultant who has been hired to analysis a hotel business. You are a real estate and hotel developer who is developing a hotel business plan for the future.The only way you’re going to be able to secure the information for your new hotel complex course project is to complete research on the types of hotels that are similar to the type you wish to develop. This may require analyses of existing properties or chain operations that are currently in business and are successful. Then duplicate what you think will work in your operation.Important: The only way you are going to be able to secure the information is by doing research on similar operations that have been successful.A few scenarios:The project does require you to prepare a business plan for a new hotel that includes a food service operation. It can be the ABC Hotel. You can determine the style, concept, or type hotel you will be developing, including a possible project on ABC Bed n’ Breakfast, ABC Limited-Service Hotel, ABC Resort and Spa, ABC Full-Service Hotel located near a major airport, ABC Country Inn, or much more.Having to come up with a business plan and answering and addressing the topics in the business plan format will require secondary and possibly primary research on similar operations to the hotel type you are planning.It is unlikely you have enough information without doing the research based on the type of hotel operation you are planning.Example: If you decide on a limited service hotel that is going to be off a major highway and geared toward the business traveler, you can focus your research on this type operation. You will probably want to gather information on successful operations in the limited-service hotel sector that primarily are geared toward the business traveler. You would determine what kind of food services they normally include and the type of amenities typically offered by this type hotel operation. You might stop by a hotel location similar to what you are planning and look around or chat with the manager or the staff.Another option: Let’s look at the following scenario: Your grandmother just gave you a piece of land just off a major highway that is located between Cleveland, Ohio and Columbus, Ohio. You decide that you will be building a limited-service hotel off the highway, and you decide to visit the Hilton Hotel Corporation to see if you can get a franchise from them for your proposed building and property. If you decided to purchase the franchise, you could use the name Hilton Hotel Garden Inn for your project. It’s your business and property, but you have purchased a franchise from Hilton Garden Inns.If this is the direction you are going to take in your project, you would explore various aspects of limited-service hotels and anything you could find out about Hilton Garden Inns. You might visit a Hilton Garden Inn in the next several weeks and talk to the manager or staff members and look at the property. You might also contact the franchising office for Hilton Garden Inns and get some detail about their franchise program and information on a Hilton Garden Inn. You can also explore various databases, periodicals, academic research papers, practitioner research papers, and books, located on the Internet and .