MNG00314: Business Plan for Marriott Hotel Venture

This business plan outlines a venture to establish a premium accommodation hotel under the Marriott brand. The plan details the executive summary, introduction, venue description, management structure (private limited company), marketing plan targeting travelers and professionals, and competitor analysis. Financial projections, including funding requirements ($500,000), sales forecasts, and ROI (24.15%), are provided. The plan also addresses risk management, focusing on operational and technological risks. The venture aims to offer exclusive services, including mobile check-in, personalized experiences, and a focus on food and beverage, to attract a diverse customer base. The marketing strategy emphasizes social media and online platforms. The plan seeks to secure seed funding, presenting a detailed market opportunity and financial outcomes to venture capitalists. The plan also highlights the importance of adapting to industry changes and consumer demands.

RUNNING HEAD: BUSINESS PLAN
Business Plan
Name of the Student:
Name of the University:
Author’s Note:

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Table of Contents
1.0 Executive Summary...................................................................................................................2
2.0 Introduction................................................................................................................................3
3.0 Venue Description.....................................................................................................................3
4.0 Management..............................................................................................................................5
Legal Structure.............................................................................................................................5
Operational Plan..........................................................................................................................6
5.0 Marketing Plan...........................................................................................................................6
Target Market..............................................................................................................................6
Communication Strategy.............................................................................................................6
6.0 Competitor Analysis..................................................................................................................7
7.0 Financial Analysis.....................................................................................................................7
Funding........................................................................................................................................8
Key Financial Data......................................................................................................................8
8.0 Risk Management......................................................................................................................9
References......................................................................................................................................10
Appendix........................................................................................................................................12
1) Profit and Loss Statement......................................................................................................12
2) Balance Sheet........................................................................................................................13

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1.0 Executive Summary
The aim of the assignment is to prepare a business plan for the Hotel business venture that would
be operating as a premium accommodation hotel based services thereby allowing travelers and
visitors enjoy a pleasant stay experience. Hospitality services have been the most important role
in today’s hotel management services whereby serving customers with outmost care in terms of
better food and services experience is what the industry is moving ahead with. The company will
be operating in the form of private limited company. The new business venture would be
operating under the Marriott Hotel Group Properties. The owner of the business will be taking
all the important decisions in the context of business. The marketing plan for the company would
be focusing on travelers, tourists, working professional and various other customers who would
be a playing a key role in the overall customer base of Marriott Hotel Business. The hotel would
be providing an exclusive food and beverage counter attracting food bloggers and food
enthusiast, who not only have to craze of having different kind of food items but at the same time
have the passion of experiencing the art of dining service provided by Marriot Hotel. The
marketing plan for the company would be focusing in the social media apps and the various
online platform where travelers, tourists, working professional, can easily get to know about the
various kinds of services the business aims to deliver. There are various key competitors for the
company that offer similar or associated hospitality and accommodation related services in the
hotel industry. The key competitors of the Hotel Industry will be helping us understand and
analyze the customer base for the company and the needs and demand for the customers. The
financial projections has been done for the Marriott Hotel Business for a set of three years
whereby relevant sources of income for the company and expenses for the company has been

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taken into account,. The financial feasibility and viability was better assessed with the help of the
return on investment generated by the business operations for the company for a set of three year
of time frame. Technological up gradation and changes in the hotel and hospitality industry
operation has been identified as one of the key risk and challenges for the company.

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2.0 Introduction
The Hotel and Hospitality Industry has explored several ways for making better customer
experience with the growing sophistication and ideas that are used for the purpose of
implementing and serving customers in the hospitality industry. The new business venture
designed will be operating under the Marriott Hotel Property thereby providing accommodation,
dinning and various other recreational services like spa. The key purpose of the report would be
aimed at preparing a detailed report thereby undertaking various operations that it would
undertake in the hospitality industry. The financial projections for the company was developed
for assessing the capital needs that would be required for operational expenses and capital
expenditures done respectively. (Haag 2013).
3.0 Venue Description
In today’s era it is important that one stays updated with various ongoing developments
and changes that are observed in the Hotel industry world and the same would be helping the
companies operating in the hotel industry better know about the needs and demands of
consumers. Service and Hospitality in the hotel industry is what plays a predominant role in
every aspect of company operating in the industry. The new business would be focusing on
providing various exclusive services and features like Mobile Check-in without waiting at
reception, personalized staying experience with snacks and beverages that are usually preferred
by consumers. The hotel will be serving various kinds of rooms in accordance with the needs and
demands of consumers like sweet room, suit room, executive and single bed rooms. The sales of
the same will be solely dependent on the types of customers that would be lodging with the hotel.

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On the other hand, it is key to note that extra exclusive services like airport prick up and drop
facility, city tour facility, spa and other recreational activity would be provided by the hotels
initially on a discounted fees basis so that it would be able to attract more and more customers
enjoy the benefit of leisure and comfort that the Marriot Hotel intends to provide to its
customers.
From the food and beverages section that the business will be having will have its own
way of serving and the style of preparation of food that would differs from various other hotels
withits kind of uniqueness that it would uses for matching the best ingredient for the food so that
the food is not healthy but balanced in the matter of taste and health perspective. The modern art
of cooking is not all about cooking its cooking with perfection where nutritional benefit are also
given consideration, along with the way the food is served with the range of available options.
The ideas and techniques used and conceptualized by the chefs would be serve the customers
with best of hotel experience.
The Marriot application that will be developed will be user friendly/user pro, interactive
with the various types of features that will allow the customers with various types of facilities
like mobile check-in facility, available services ranges, unlimited access to Wi-fi different timing
and prices of the various services that the hotel would be serving.
4.0 Management
Legal Structure
In order to well operate a business it is important that the hotel business will be defining
the various job roles and the various courses of actions that would be taken up by each of the
management owner so that they can accordingly manage the operations. The company would be

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operating as a private limited company and under Marriot Hotel Group as it is important to know
for an organization in what form of business they would be operating so that the legal laws and
regulation could be well followed. The various legal aspects that should be considered while
designing the management structure of the company is as follows:
 Personal Liability
 Various Types of Operational and Variable Costs that would be incurred
 Form of Business (Private, Public, Partnership or Sole Proprietorship)
 Tax Compliance
 Number of Employees Required
The Company will be registering with the Registrar for Australia Business Number (ABN)
and would be complying with the Australian Taxation Rules by registering for goods & services
tax (GST), if annual turnover for the company is $75 000 or more (Williams and Nestle 2017).
Operational Plan

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Operations in the hotel industry is of significant importance from various departments
that the company would be having in the overall hotel management. The designed business plan
will be kept at the most simple and would be operating as a private limited company. The owner
of the company that is Harry Williams would be acting as the CEO thereby taking all the
important decisions in the context of business operations. It is well important that the business
operations that would be carried on by the business satisfies the various rising and ongoing
demand that will be arising for the business services that would be provided by the company.

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5.0 Marketing Plan
Target Market
The designed business services would be targeting and looking for travelers, tourists,
working professional and various other customers who would be a playing a key role in the
overall customer base of Marriott Hotel Business. From the food and beverage section the
company will be inviting various food enthusiast and food lovers who are willing to explore and
learn the unique concepts by which foods and beverage are offered. In terms of age group
generally people aged 26-40, who are more into professional working, tourists or are travellers
will be the key set of people the company will be focusing on (Bresciani 2017).
Communication Strategy
In order to well communicate the designed business plan it is important for the company
to effectively plan out a communication strategy so that the concept of the business idea is well
passed on to the group and set of people (Chen et al., 2015). The key communication strategy
that the hotel business would be deploying will be in the form of social media platforms thereby
using social applications such as Facebook, Twitter and Snap chat which will be the key social
media upon which the company will be advertising the type of services it expects to render and
the associated benefits that the users would be getting from the same. Advertisements in
Televisions, Magazines and various other forms like advertisement in banner, distribution of
pamphlets and various other form would be the key marketing or communication strategy.

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6.0 Competitor Analysis
It is equally important that the business under which the company will be operating,
knows the various kinds of direct and indirect competitors that would be affecting the business
services of the company (McKenzie 2015). The competition prevailing in the hospitality industry
is comparatively very high, however it is important to note that the designed business concept
does face direct competition from various other hotel and premium accommodation business
operating companies. The key competitors that provide similar or associated services are Four
Seasons Resort Bora Bora, French Polynesia, Saffire Freycinet, Tasmania, Park Hyatt Sydney
and many other that would be giving a direct competition to the hotel.
7.0 Financial Analysis
The financial analysis of the company will be done with the help of financial projections
that has been done for the company for the year and whereby the various sources of revenues and
expenses that the company will be incurring has been well taken into consideration (Feenstra
2014).
Funding
In order to finance or fund the business plan both equity and debt sources of finance will
be used out by the company. The total amount of funding that the company would be requiring
for the business operations would be around $500,000 and the same would be sued by the
company for the purpose of financing the asset purchases and the various operational expenses
that would be incurred by the company. The equity portion would be around $400,000 and the
debt finance for the company would be around $100,000.

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Key Financial Data
Sales: The sales that the company would be generating in the first year of business operations
would be around $350,000 and the expected amount of growth in the sales is around 10% that
would be reflected as market penetration for the company. The sales would be generated in the
form of memberships taken by customers (O'sullivan 2016).
Operational Expenses: The operational expenses that the company would be incurring will be
in the form of salaries and wages, marketing cost, rent, lease payments, business registration and
license fees and others. The total operational expenses for the company will be around $58,250.
Return on Investment: The return on investment that would be generated by the business will
be primarily around 24.15% in the first year which is significantly dependent on the profitability
and the level of business operations undertaken by the company. The high ROI indicates the
financial feasibility of the business developed.
8.0 Risk Management
The key risks that the company would be facing will be primarily in the field of
operational and technological risk that the company would be running for the designed business
model. Efficient management of the various hotel services is the key thing that the company
should do in terms of sales of various kinds of services, identifying the peak and lean season
under which the business operates. Operational Risks in the form of correct information and
ideas rendered by the application should be correct and perfect otherwise the customer base for
the company will get affected from the same. There are continuous researches and ideas that are
developed in the industry, any changes in the industry with the view or perspective of technology
can potentially harm the business operations of the company. It is advisable that the company

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carry on several market research and innovations in designing and betterment of the business
services so that it stays ahead of the market and remains competitive in the industry.

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References
Bayona-Saez, C., Cruz-Cázares, C., García-Marco, T. and Sánchez García, M., 2017. Open
innovation in the food and beverage industry. Management Decision, 55(3), pp.526-546.
Bresciani, S., 2017. Open, networked and dynamic innovation in the food and beverage
industry. British Food Journal, 119(11), pp.2290-2293.
Chen, E., Flint, S., Perry, P., Perry, M. and Lau, R., 2015. Implementation of non-regulatory
food safety management schemes in New Zealand: a survey of the food and beverage
industry. Food control, 47, pp.569-576.
Davis, B., Lockwood, A., Alcott, P. and Pantelidis, I.S., 2018. Food and beverage management.
Routledge.
Feenstra, D., 2014. The Standout Business Plan: Make Irresistible-and Get the Funds You Need
for Your Startup or Growing Business. Journal of Applied Management and
Entrepreneurship, 19(4), p.116.
Feenstra, D., 2014. The Standout Business Plan: Make Irresistible-and Get the Funds You Need
for Your Startup or Growing Business. Journal of Applied Management and
Entrepreneurship, 19(4), p.116.
Haag, A.B., 2013. Writing a successful business plan: An overview. Workplace health &
safety, 61(1), pp.19-29.
McKenzie, D., 2015. Identifying and spurring high-growth entrepreneurship: Experimental
evidence from a business plan competition. The World Bank.

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O'sullivan, M., 2016. A handbook for sensory and consumer-driven new product development:
Innovative technologies for the food and beverage industry. Woodhead Publishing.
Reddy, P., 2013. Business Plan.
Santoro, G., Vrontis, D. and Pastore, A., 2017. External knowledge sourcing and new product
development: evidence from the Italian food and beverage industry. British Food
Journal, 119(11), pp.2373-2387.
Williams, S.N. and Nestle, M. eds., 2017. Big Food: critical perspectives on the global growth
of the food and beverage industry. Routledge.

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Appendix
1) Profit and Loss Statement

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2) Balance Sheet