Start-up Plan for Hotel Globe Trotters in London

BUSINESS PLAN
EXECUTIVE
SUMMARY
The present poster is
based on a start up plan
which aims to introduce
a small hotel in the
streets of London,
United Kingdom. The
name of the Hotel will
be Hotel Globe Trotters.
The main objective of
the Hotel Globe Trotters
will be to provide its
customers with a range
of services that the
exclusive and premium
and liked by the
customers at the most
nominal prices. This will
enhance the customer
satisfaction and increase
the profitability of the
Hotel Globe Trotters.
BUSINESS
DESCRIPTION
The start up will be a
small sized hotel which
will be situated in center
of the London, United
Kingdom. The main
objective of the hotel
will be to provide the
customers with a facility
to dine in at the hotel or
plan a stay at the hotel
(BURKE, ROBINSON,
and Choi, 2020). The
hotel will provide the
customers will medium-
sized luxury room with a
balcony and a nice view
at affordable prices. The
hotel will be covered
with nature and will
enhance the experience
of the customers.
Market analysis
With the Help of PESTLE analysis, it has
been determined that due to the liberalization in the
policies in relation to the tourism and travel industry,
there is a scope for the hospitality industry to increase
its profitability by providing the customers with
enhanced satisfaction and experience by the Hotels.
Competitor analysis
It has been identified that, London is most
of the most beautiful cities of the world and is a
home to many natural beauty sports. It attracts a
number of tourists from all over the world.
Therefore, within the hospitality industry of London,
the Hotel Globe Trotter will have to face tough
competition from other small and medium-sized
hotels within the industry (George, 2021). Other than
that, the factors such as threats of substitution and
new entrant will be low because setting up a hotel
requires extensive amount of capital and therefore, it
requires huge amount of time for the same.
Sales and Marketing
The Hotel Globe Trotter will use traditional
as well as modern marketing channels for the
purpose of promoting the hotel and increase its
customer base. The Hotel Globe Trotter will use
pamphlets, radios, television and billboards in order
to publish advertisements and promote the hotel.
And, social media marketing channels such as
Facebook, Instagram, Twitter, Pinterest and
YouTube will also be used in order to attract the
target audience and increase the profitability of the
hotel
Financial Plan
As per
the forecasted
financial
statements, it has
been determined
that initially the
Hotel Globe
Trotters will
require a capital
of about 267000
pounds in order
to start the
business within
the London
(Habib, and et.al
2018). The Hotel
Globe Trotters
will raise the
funds from
several sources
which includes
bank loans,
venture
capitalists and
crowdfunding.
This will help the
Hotel to raise the
funds from
required sources
and introduce the
business into the
market.
REFERENCES
Habib, A., and et.al 2018. Political
connections, financial
reporting and auditing:
Survey of the empirical
literature. Journal of
International Accounting,
Auditing and Taxation, 31,
pp.37-51.
George, R., 2021. The Tourism and
Hospitality Marketing
Environment. In Marketing
Tourism and
Hospitality (pp. 183-219).
Palgrave Macmillan, Cham.
BURKE, K., ROBINSON, P. and
Choi, M., 2020. Developing meta-
strategies for hospitality
experiences. Managing Hospitality
Experiences, p.141.