Venture Proposal for Sheraton Grand Sydney Hyde Park

Running head: MANAGEMENT
Venture proposal for Sheraton Grand Sydney Hyde Park
Name of the student:
Name of the university:
Author note:

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MANAGEMENT
Executive summary
Sheraton Grand Sydney Hotel Hyde Park is one of biggest hotels under Mariott
Group. This is in terms of the revenue, which is achieved through the rooms, which are filled
with modern day amenities. This report develops a marketing plan for the venture Hyde Park
hotel rooms, where it has been proposed that CCTV cameras is to be installed for the security
of the guests. The plans, programs and policies would be shared through social media for
expanding the customer base. Budget acts as an agent in terms of enhancing the awareness
towards the need for additional resources. Risk assessment has been done for reflecting on
the challenges, which obstructs the process of venture planning.

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MANAGEMENT
Table of contents
Introduction................................................................................................................................3
Description of the entrepreneurial venture.................................................................................3
Management...............................................................................................................................4
Legal structure........................................................................................................................4
Operations management.............................................................................................................6
Marketing...................................................................................................................................8
Target Audience.....................................................................................................................8
Communication strategy........................................................................................................9
Competitor analysis....................................................................................................................9
Analysis of the competitor market.........................................................................................9
Distinguishing the venue from the competitors...................................................................10
Financial analysis.....................................................................................................................10
Key risks and challenges..........................................................................................................12
References................................................................................................................................14
Bibliography.............................................................................................................................16

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MANAGEMENT
Introduction
Venture proposal is a means for assessing the scope and arena in which the business
would be implied. In this context, the main themes are maximizing the use of the revenue of
an underutilized space in the hotels or increasing the revenue and design of the food and
beverage outlets. This is done through the means of causing the advent of innovation, which
are of four types- invention, duplication, extension and synthesis (Akbar and Tracogna 2018).
This assignment conducts an assessment of whether Sheraton Grande Sydney Hyde
Park is appropriate for extending the scope and arena of the business of the Marriott group.
The focus would be on management and marketing strategies adopted by the hotel for
achieving higher competitive advantage. Financial analysis is one of the other components,
which attains a crucial position in the assignment. Identification of the key risks and
challenges is beneficial in terms of measuring the approach towards fulfilling the needs,
demands and requirements of the clients and the customers.
Description of the entrepreneurial venture
Situated opposite to Hyde Park, Sheraton Grand Sydney Hyde Park offers
mesmerizing view and experience to the clients and the customers of St. Mary’s Cathedral
and Middle harbour. The site is a hub for the brands to increase their revenue and profit
margin. As a matter of specification, the hotel provides quality accommodation facilities,
which includes 17 flexible function rooms, rooftop health club, indoor heated pool and spa
(Marriott.com 2019). The customers’ rating are high, which indicates positive word of mouth
advertising. Mention can be made of the Sheraton Club Lounge, which enhances the
accessibility issues for the clients and the customers in terms of catering to the basic
entertainment needs.