Business Plan for Relax Inn Hotel: A New Concept for Hospitality Industry

Business Plan
Table of Contents

INTRODUCTION...........................................................................................................................1
Main Body.......................................................................................................................................1
New business concept.............................................................................................................1
Industry, Market, Organisational and Financial feasibility....................................................3
The key components of the value chain and business model canvas in relation to proposed
business...................................................................................................................................6
Quantitative and qualitative models and concepts to identify and manage potential risks....8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................10

INTRODUCTION
The business plan tends to comprises of a written document which is describing out the main
and core business activities and objective of a firm along with its planning to achieve the set
goals (Tipu, 2018). The current report is bases on start-up entrepreneur which is outlining a new
business concept within Hospitality industry. It has been analysed and seen that a high level of
reduction in productivity and many new challenges and restrictions are faced within hospitality
industry due to the global pandemic of Covid-19. Thus, current report is based on coming on
with a new business concept of starting up with a new hotel “Relax Inn” that is focusing and
emphasising on providing relaxation and calmness to its customers.
Main Body
New business concept
It has been seen and analsysed that currently the hospitality industry has faced the
maximum negative impact of the global pandemic of Covid-19 in form of reduction in the
productivity level due to sudden lockdown. Further, many new rules and regulations are also get
imposed on the hospitality sector to ensure the safety and health of customers. In such conditions
and due to the spread of global pandemic of Covid-19 many people within UK faced the many
mental and health issues such as anxiety and depression also (Hanák and Grežo, 2020). Along
with this, the mental pressure and stress level in daily life of the people and society has been also
seen as they are not allowed to travel in group and have foreign trips. Thus, a new business
concept and opportunity is being seen within the hospitality industry to come up with a new
business venture and start up that provides best and calm environment in Hotel where consumer
can feel pleasure with heritage and cultural environment. Thus, the current project and business
plan is based on coming up with a new business concept of a hotel, "Relax Inn" that is focusing
on providing best and calm environment for its customer to cope up with the negative impact and
stress faced because of covid-19 (Hopp and et. al., 2018).
Vision of new business concept
The long term Vision set out for the hotel “Relax inn” is to provide best and calm
environment for its customers within a new Hotel designed and based on rich culture and
heritage of London where consumer can feel pleasure and relaxation from there daily life routine
and stress.
1

Mission of new business concept
The mission statement and aim of the coming up with new Hotel “Relax Inn” is to
provide variety of services with touch of heritage and culture of London.
Product or service
Relax Inn hotel is opening as new business start up with a main aim of providing a calm
and positive environment for the individuals where they can have relaxation and calmness from
there stress full and busy schedule. Relax inn hotel tend to comprises of the ambiance of heritage
look and culture of London along with lots of greenery and plants along with making use of only
eco-friendly and natural products in the décor and other activities of hotel to ensure the improved
sustainability level (Johnson and Garvin, 2017). Further, the main services and facilitates that are
offered at the Relax inn hotel comprises of facility of dinning, valet parking, free Wi- Fi, Air
cooling, Coffee and tea facility, light music, calm environment, etc. along with the other relaxing
activities such as library, soft music, board games, etc. to fully satisfy its customers.
Target market
The target market for the Relax Inn hotel comprises pf specific type of customers who are
either facing a hectic and stress full daily routine and suffering from depression and anxiety and
wants to have a relax time to have more positivity and calmness in their mind. Further, the Relax
Inn is mainly targeting the tourist and local people who are looking for clam and positive place
with touch of nature and cultural heritage to ensure relaxation and clamminess for better mental
health and high level of satisfaction. Thus, “Relax inn” targeting both youth as well as old
generation people who wants to have a relaxation from there busy and stress full life (DeNoble
and Zoller, 2017).
Special attributes
The special attributes for the Relax Inn hotel comprises of the 24*7 accessibility along
with providing a heritage look and culture of London along with lots of greenery and plants
along with making use of only eco-friendly and natural products that attracts and cater larger
number of customers. Further, maintaining proper sanitization and social distancing norms along
with other provisions and control set out by government after Covod-19 has also been implicated
within Relax Inn hotel to support a healthy and positive environment where customers can feel
relaxed and clam.
Values and scale of the newly proposed business
2