Hospitality Property School

A well-crafted hotel business plan is a comprehensive road map for your property’s growth and development, that can increase visibility, drive bookings, and ultimately improve your bottom line.In this episode, I will provide the key elements that should be included in your hotel business plan.Why create a hotel business planEvery new company should really think about writing a business plan, and this is especially true for hotels. If you want to take out a loan to start your business, or raise money from other investors, you will need one.Many get nervous about the thought of starting a business plan or don’t know where to start. You don’t have to get bogged down in the process. By following the guideline, I am laying out for you is an excellent way to get your thought juices flowing.If you don’t need to seek funding, it is still a good idea to write a hotel business plan, as it can be used as a tool to strategically manage your business as it gets up and running and starts to grow.Continue reading, watching,