Business Plan Assignment: Hotel
Added on - 28 May 2020
Showing pages 1 to 2 of 5 pages
Running head:BUSINESS PLAN OF HOTELBusiness Plan of HotelName of the StudentName of the UniversityAuthor’s Note
Running head:BUSINESS PLAN OF HOTEL3. 2ndYear of the Business PlanIn the hotel business plan, this second part of the report discusses the upcoming years,which is prepared based on the first part of the data report. Therefore, the data report of thebusiness plan will be considered with the first part.3.1 SWOT Analysis of the business planA SWOT analysis is the first stage of business planning and based on the analysismarketers can focus on the key issues, which will be helpful in growing the business. Person,place, product or industry can accomplish SWOT analysis. In this report, SWOT analysis is donefor the Hotel industry(Dogancili & Tarakçioğlu, 2017). It will identify the strength andweakness, which are the internal factors involved with the plan. The Opportunities and theThreats are the external factor of the business plan and both the factors used as a strategicplanning and parts of the process that are favorable or unfavorable in achieving the objectives.SWOT or TOWS both is an acronym to analyze the Strength, the Weakness, the Opportunitiesand the Threats(Kryvinska et al., 2014). Below are the points that show the SWOT analysis:The Strength of the Hotel:The high level of Staff Relation(Mohsin, Lengler & Aguzzoli, 2015)The better the team makes a decision the higher will be the profit. Better teamwork andthe employee performance help in increasing the revenue of the hotel.Excellent renovation of the interiors of the hotel is a guest attraction.The quality or the standard of the Hotel should be high as compared to the competitorsHotel.The Weakness of the Hotel:The occupancy has some target. Sometime the target could not be achieved.Even though the relation of the staff is high, still the turnover of the staff is higher(Guilding, Lamminmaki & McManus 2014).The Debts are high and due to this reason, the hotel might have a possibility of running ata loss. This considered to be as one of the biggest weaknesses of the hotel.The decision making of the hotel booking depends on the season.The Opportunities for the Hotel:To make a strategic decision is a new concept by which the occupancy will be increased.With the increase in occupancy, the revenue will automatically be increased (Lei & Lam,2015).To make use of those potential that has not yet exploited.