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• Sample Business Plans

Resort Business Plan

High demand for luxury & recreational activities, and a recurring revenue model make starting a resort business a lucrative and rewarding profession.

Anyone can start a new business, but you need a detailed business plan when it comes to raising funding, applying for loans, and scaling it like a pro!

Need help writing a business plan for your resort business? You’re at the right place. Our resort business plan template will help you get started.

Free Business Plan Template

Download our free resort business plan template now and pave the way to success. Let’s turn your vision into an actionable strategy!

• Fill in the blanks – Outline
• Financial Tables

How to Write A Resort Business Plan?

Writing a resort business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:

1. Executive Summary

An executive summary is the first section planned to offer an overview of the entire business plan. However, it is written after the entire business plan is ready and summarizes each section of your plan.

Here are a few key components to include in your executive summary:

• Introduce your Business: Start your executive summary by briefly introducing your business to your readers.This section may include the name of your resort business, its location, when it was founded, the type of resort business (E.g., beach resorts, mountain resorts, spa resorts, golf resorts), etc.
• Market Opportunity: Summarize your market research, including market size, growth potential, and marketing trends. Highlight the opportunities in the market and how your business will fit in to fill the gap.
• Facilities: Highlight the resort facilities you offer your clients. The USPs and differentiators you offer are always a plus.For instance, you may include accommodation, dining, spa & wellness, events, etc as some of your facilities.
• Marketing & Sales Strategies: Outline your sales and marketing strategies—what marketing platforms you use, how you plan on acquiring customers, etc.
• Financial Highlights: Briefly summarize your financial projections for the initial years of business operations. Include any capital or investment requirements, associated startup costs, projected revenues, and profit forecasts.
• Call to Action: Summarize your executive summary section with a clear CTA, for example, inviting angel investors to discuss the potential business investment.

Ensure your executive summary is clear, concise, easy to understand, and jargon-free.

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2. Business Overview

The business overview section of your business plan offers detailed information about your business. The details you add will depend on how important they are to your business. Yet, business name, location, business history, and future goals are some of the foundational elements you must consider adding to this section:

• Beach resorts
• Spa resorts
• Golf resorts
• Mountain resorts
• Eco resorts
• Ski resorts
• Luxury resorts
• Describe the legal structure of your resort, whether it is a sole proprietorship, LLC, partnership, or others.
• Explain where your business is located and why you selected the place.
• Owners: List the names of your resort’s founders or owners. Describe what shares they own and their responsibilities for efficiently managing the business.
• Mission Statement: Summarize your business’ objective, core principles, and values in your mission statement. This statement needs to be memorable, clear, and brief.

This section should provide a thorough understanding of your business, its history, and its future plans. Keep this section engaging, precise, and to the point.

3. Market Analysis

The market analysis section of your business plan should offer a thorough understanding of the industry with the target market, competitors, and growth opportunities. You should include the following components in this section.

• Target market: Start this section by describing your target market. Define your ideal customer and explain what types of services they prefer. Creating a buyer persona will help you easily define your target market to your readers.For instance, families, wellness & spa seeker, leisure travelers, or luxury travelers would be an ideal target audience for a resort business.
• Market size and growth potential: Describe your market size and growth potential and whether you will target a niche or a much broader market.The global market for hotels and resorts reached its peak in 2019 at $1.52 trillion dollars. The market size is to reach $1.21 trillion in 2023.
• Competitive Analysis: Identify and analyze your direct and indirect competitors. Identify their strengths and weaknesses, and describe what differentiates your resort from them. Point out how you have a competitive edge in the market.
• Market Trends: Analyze emerging trends in the industry, such as technology disruptions, changes in customer behavior or preferences, etc. Explain how your business will cope with all the trends.For instance, travelers are seeking local and authentic experiences with personalization too; explain how you plan on dealing with this potential growth opportunity.
• Regulatory Environment: List regulations and licensing requirements that may affect your resort business, such as zoning & land use regulations, licensing & permits, environmental regulations, food & safety laws, health & sanitation regulations, etc.

Here are a few tips for writing the market analysis section of your resort business plan:

• Conduct market research, industry reports, and surveys to gather data.
• Provide specific and detailed information whenever possible.
• Illustrate your points with charts and graphs.
• Write your business plan keeping your target audience in mind.

4. Resort Services & Facilities

The product and services section should describe the specific services and products that will be offered to customers. To write this section should include the following:

• Accommodation
• Recreational activities
• Spa and wellness
• Entertainment zone
• Event and conference facilities
• Swimming pool
• Tennis court
• Describe each facility: Provide a detailed description of each facility you provide, the types of that facility, and everything about it.For instance, mention various types of accommodation that your resort will provide. Describe the sizes, facilities, views, and any unique features or themes in detail.

In short, this section of your resort plan must be informative, precise, and client-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.

5. Sales And Marketing Strategies

Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing plan:

• Unique Selling Proposition (USP): Define your business’s USPs depending on the market you serve, the equipment you use, and the unique services you provide. Identifying USPs will help you plan your marketing strategies.For example, beautiful locations, exclusive amenities, or customized services could be some of the great USPs for a resort business.
• Pricing Strategy: Describe your pricing strategy—how you plan to price your services & facilities and stay competitive in the local market. You can mention any discounts you plan on offering to attract new customers.
• Marketing Strategies: Discuss your marketing strategies to market your services. You may include some of these marketing strategies in your business plan—social media marketing, Google ads, brochures, email marketing, content marketing, and print marketing.
• Sales Strategies: Outline the strategies you’ll implement to maximize your sales. Your sales strategies may include partnering with other businesses, offering referral programs, etc. Customer Retention: Describe your customer retention strategies and how you plan to execute them. For instance, introducing loyalty programs, discounts on the second visit, personalized service, etc.

Overall, this section of your resort business plan should focus on customer acquisition and retention.

Have a specific, realistic, and data-driven approach while planning sales and marketing strategies for your resort business, and be prepared to adapt or make strategic changes in your strategies based on feedback and results.

6. Operations Plan

The operations plan section of your business plan should outline the processes and procedures involved in your business operations, such as staffing requirements and operational processes. Here are a few components to add to your operations plan:

• Staffing & Training: Mention your business’s staffing requirements, including the number of employees, chefs, or other staff needed. Include their qualifications, the training required, and the duties they will perform.
• Operational Process: Outline the processes and procedures you will use to run your resort business. Your operational processes may include housekeeping & maintenance, front office operations, food & beverage options, sales & marketing, etc.
• Equipment & Machinery: Include the list of equipment and machinery required for the resort, such as recreational activities equipment, spa & wellness equipment, vehicles, etc.Explain how these technologies help you maintain quality standards and improve the efficiency of your business operations.

Adding these components to your operations plan will help you lay out your business operations, which will eventually help you manage your business effectively.

7. Management Team

The management team section overviews your resort business’s management team. This section should provide a detailed description of each manager’s experience and qualifications, as well as their responsibilities and roles.

• Founders/CEO: Mention the founders and CEO of your resort, and describe their roles and responsibilities in successfully running the business.
• Key managers: Introduce your management and key members of your team, and explain their roles and responsibilities.It should include, key executives(e.g. COO, CMO.), senior management, and other department managers (e.g. operations manager, customer services manager.) involved in the resort business operations, including their education, professional background, and any relevant experience in the industry.
• Organizational structure: Explain the organizational structure of your management team. Include the reporting line and decision-making hierarchy.
• Compensation Plan: Describe your compensation plan for the management and staff. Include their salaries, incentives, and other benefits.
• Advisors/Consultants: Mentioning advisors or consultants in your business plans adds credibility to your business idea.So, if you have any advisors or consultants, include them with their names and brief information consisting of roles and years of experience.

This section should describe the key personnel for your resort services, highlighting how you have the perfect team to succeed.

8. Financial Plan

Your financial plan section should provide a summary of your business’s financial projections for the first few years. Here are some key elements to include in your financial plan:

• Profit & loss statement: Describe details such as projected revenue, operational costs, and service costs in your projected profit and loss statement . Make sure to include your business’s expected net profit or loss.
• Cash flow statement: The cash flow for the first few years of your operation should be estimated and described in this section. This may include billing invoices, payment receipts, loan payments, and any other cash flow statements.
• Balance Sheet: Create a projected balance sheet documenting your resort business’s assets, liabilities, and equity.
• Break-even point: Determine and mention your business’s break-even point—the point at which your business costs and revenue will be equal.This exercise will help you understand how much revenue you need to generate to sustain or be profitable.
• Financing Needs: Calculate costs associated with starting a resort business, and estimate your financing needs and how much capital you need to raise to operate your business. Be specific about your short-term and long-term financing requirements, such as investment capital or loans.

Be realistic with your financial projections, and make sure you offer relevant information and evidence to support your estimates.

9. Appendix

The appendix section of your plan should include any additional information supporting your business plan’s main content, such as market research, legal documentation, financial statements, and other relevant information.

• Add a table of contents for the appendix section to help readers easily find specific information or sections.
• In addition to your financial statements, provide additional financial documents like tax returns, a list of assets within the business, credit history, and more. These statements must be the latest and offer financial projections for at least the first three or five years of business operations.
• Provide data derived from market research, including stats about the resort, user demographics, and industry trends.
• Include any legal documents such as permits, licenses, and contracts.
• Include any additional documentation related to your business plan, such as product brochures, marketing materials, operational procedures, etc.

Use clear headings and labels for each section of the appendix so that readers can easily find the necessary information.

Remember, the appendix section of your hotel resort business plan should only include relevant and essential information supporting your plan’s main content.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

This sample resort business plan will provide an idea for writing a successful resort plan, including all the essential components of your business.

After this, if you still need clarification about writing an investment-ready business plan to impress your audience, download our resort business plan pdf .

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Business Plan Templates Example

Essentials of Writing a Business Plan

Frequently asked questions, why do you need a resort business plan.

A business plan is an essential tool for anyone looking to start or run a successful resort business. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your business.

Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your resort.

How to get funding for your resort business?

There are several ways to get funding for your resort business, but self-funding is one of the most efficient and speedy funding options. Other options for funding are:

• Bank loan – You may apply for a loan in government or private banks.
• Small Business Administration (SBA) loan – SBA loans and schemes are available at affordable interest rates, so check the eligibility criteria before applying for it.
• Crowdfunding – The process of supporting a project or business by getting a lot of people to invest in your business, usually online.
• Angel investors – Getting funds from angel investors is one of the most sought startup options.

Apart from all these options, there are small business grants available, check for the same in your location and you can apply for it.

Where to find business plan writers for your resort business?

There are many business plan writers available, but no one knows your business and ideas better than you, so we recommend you write your resort business plan and outline your vision as you have in your mind.

What is the easiest way to write your resort business plan?

A lot of research is necessary for writing a business plan, but you can write your plan most efficiently with the help of any resort business plan example and edit it as per your need. You can also quickly finish your plan in just a few hours or less with the help of our business plan software .

How do I write a good market analysis in a resort business plan?

Market analysis is one of the key components of your business plan that requires deep research and a thorough understanding of your industry.

We can categorize the process of writing a good market analysis section into the following steps:

• Stating the objective of your market analysis—e.g., investor funding.
• Industry study—market size, growth potential, market trends, etc.
• Identifying target market—based on user behavior and demographics.
• Analyzing direct and indirect competitors.
• Calculating market share—understanding TAM, SAM, and SOM.
• Knowing regulations and restrictions
• Organizing data and writing the first draft.

Writing a marketing analysis section can be overwhelming, but using ChatGPT for market research can make things easier.

How detailed should the financial projections be in my resort business plan?

The level of detail of the financial projections of your resort business may vary considering various business aspects like direct and indirect competition, pricing, and operational efficiency. However, your financial projections must be comprehensive enough to demonstrate a comprehensive view of your financial performance.

Generally, the statements included in a business plan offer financial projections for at least the first three or five years of business operations.

What key components should a resort business plan include?

The following are the key components your resort business plan must include:

• Executive summary
• Business Overview
• Market Analysis
• Products and services
• Sales and marketing strategies
• Operations plan
• Management team
• Financial plan

Can a good resort business plan help me secure funding?

Indeed. A well-crafted resort business will help your investors better understand your business domain, market trends, strategies, business financials, and growth potential—helping them make better financial decisions.

So, if you have a profitable and investable business, a comprehensive business plan can help you secure your business funding.

What's the importance of a marketing strategy in a resort business plan?

Marketing strategy is a key component of your resort business plan. Whether it is about achieving certain business goals or helping your investors understand your plan to maximize their return on investment—an impactful marketing strategy is the way to do it!

Here are a few pointers to help you understand the importance of having an impactful marketing strategy:

• It provides your business an edge over your competitors.
• It helps investors better understand your business and growth potential.
• It helps you develop products with the best profit potential.
• It helps you set accurate pricing for your products or services.

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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Resort Business Plan Template

Written by Dave Lavinsky

Resort Business Plan

You’ve come to the right place to create your resort business plan.

We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start a new resort or grow their existing resorts.

Resort Business Plan Example

Below is a sample resort business plan to help you create your own business plan.

Executive Summary

Business overview.

Ocean View Resort is a brand-new luxury resort located in beautiful Palm Beach, Florida. Our priority is to provide tourists and guests with a first-class luxurious vacation experience that they can’t find anywhere else in Palm Beach. We offer all the best amenities a resort could have including a full spa, a heated pool, a gym, a golf course, and tennis courts. We are also conveniently located right on the beach, so our guests can easily soak up the sun and enjoy the ocean at their leisure. We are also conveniently located near numerous shopping districts, nightclubs, and popular tourist destinations. Ocean View Hotel & Resort is the perfect resort for anyone looking for the ultimate Palm Beach vacation experience.

Ocean View Resort is led by Jacob Ellis who has been in the resort industry for over 20 years. While Jacob has never developed a resort from the ground up, he has worked most recently as a general manager of a large resort, and has held various management-level positions in the industry over the years. Jacob Ellis has a Master’s degree in Hospitality Management and will use his expertise and experience to start his own resort.

Product Offering

Ocean View Resort will provide a full suite of luxury resort amenities, all featuring streamlined customer service and convenience.

Some of the amenities we offer include:

• Restaurants
• Golf course
• Tennis Courts
• Heated Swimming Pool

Ocean View Resort is located on the beach so guests can enjoy the sun and the ocean at their leisure. The resort is also located near shopping districts, nightclubs, and other popular destinations that our guests can easily access and enjoy.

Customer Focus

Ocean View Resort will primarily serve tourists traveling to Palm Beach, Florida. We expect many of our guests to be affluent and have the disposable income needed to pay for the luxurious amenities we offer.

Management Team

Success factors.

Ocean View Resort will be able to achieve success by offering the following competitive advantages:

• Location: Ocean View Resort’s location provides the best access to the beach, shopping districts, nightclubs, and other amenities. The Company also offers adequate parking (along with valet parking), making it easy for customers to relax upon arrival.
• Luxurious Amenities: The resort will be full of luxurious amenities, including a full spa, gym, heated swimming pool, and golf course.
• Management: The management team has years of resort industry experience that allows the Company to market and serve customers in the same manner as its most sophisticated competitors.
• Relationships: Having visited the community for a number of years, Jacob Ellis knows all of the local leaders, newspapers, and other influences. As such, it will be relatively easy to build brand awareness of the resort.

Financial Highlights

Ocean View Resort is currently seeking $7,000,000 to launch. Specifically, these funds will be used as follows:

• Resort design/build: $6,500,000
• Three months of overhead expenses (payroll, rent, utilities): $250,000
• Marketing costs: $100,000
• Working capital: $150,000

Company Overview

Who is ocean view resort.

Ocean View Resort is a brand-new luxury resort located in beautiful Palm Beach, Florida. Our priority is to provide tourists and guests with a first-class luxurious vacation experience that they can’t find anywhere else in Palm Beach. We offer all the best amenities a resort could have including a full spa, a heated pool, a gym, a golf course, and tennis courts. We are also conveniently located right on the beach, so our guests can easily soak up the sun and enjoy the ocean at their leisure. We are also conveniently located near numerous shopping districts, nightclubs, and popular tourist destinations. Ocean View Resort is the perfect resort for anyone looking for the ultimate Palm Beach vacation experience.

Ocean View Resort History

After completing a market analysis, Jacob Ellis incorporated Ocean View Resort as an S-Corporation on January 2023.

The resort development operations are currently being run out of Jacob Ellis’s home office. Once the land rights have been purchased, operations will be run from an on-site location.

Since incorporation, the Company has achieved the following milestones:

• Found site location and signed the land deed purchasing rights to the land
• Developed the company’s name, logo, and website
• Hired an architecture firm to create a blueprint of the resort
• Started taking bids from construction crews and electrical engineering firms
• Determined equipment leasing and financing requirements
• Began recruiting key employees

Ocean View Resort’s Services

Industry analysis.

The global hotel and resort industry is valued at approximately $4.5T with more than 700,000 hotels and resorts operating worldwide. Even with the challenges of the recent pandemic, people are eager to travel and stay in luxury accommodations. According to PR Newswire, the industry is expected to grow substantially throughout the rest of the decade, growing at a CAGR of 17.4% until 2030. This shows that even though the pandemic halted travel temporarily, the industry is bouncing back and resorts are going to see a profitable decade.

Demand determinants for the hotel and resort industry include economic conditions, disposable income levels, and consumer preferences regarding hospitality and leisure spending. Over the past few years, consumer preferences have been shifting significantly. Customers are now looking for more personalized service, business-leisure opportunities, health and wellness accommodations, and digital guest experiences.

The hotel and resort industry is highly fragmented with intense competition from major players to single-location operators. Small resort businesses can compete in a variety of ways, however. Industry operators that offer a unique niche, affordable prices, in-demand locations, and amenities that appeal to the modern consumer can run a competitive resort business.

Customer Analysis

Demographic profile of target market.

Ocean View Resort will serve the tourists visiting Palm Beach and its surrounding areas. The community of Palm Beach is a very popular tourist destination. Many of the tourists that visit are affluent or have the disposable income to spend on a luxurious vacation.

Some of our guests may be residents in local communities looking for a great place for a staycation. The demographics of Palm Beach are as follows:

Customer Segmentation

Ocean View Resort will primarily target the following customer profiles:

• Local residents
• International tourists
• Domestic tourists

Competitive Analysis

Direct and indirect competitors.

Ocean View Resort will face competition from other companies with similar business profiles. A description of each competitor company is below.

Shady Palms Resort

Shady Palms Resort is a hotel in Palm Beach. Shady Palms Resort is a leading hotel and has been in business for over 40 years. The hotel offers a wide array of services and amenities that you typically find at a hotel. Shady Palms Resort offers luxury accommodations and a five-star restaurant and lounge. Shady Palms Resort is the current most popular choice for tourists in the area because of its proximity to the airport and local attractions such as the Fine Art Museum and movie theater.

This hotel does not have full-service resort amenities, however. Nor does it have the latest digital technology for any of its services or room accommodations.

Super Adventure Resort

Super Adventure Resort is a family-oriented resort located 20 miles from Palm Beach. This resort specializes in providing wildlife adventure tours. The property also has a variety of amenities including a hotel, spa, pool, restaurant, bar, and gift shop.

Super Adventure Resort is far from any other local attractions, the airport, or any other modern conveniences such as grocery stores or gas stations, making it an out-of-the-way getaway, but not conveniently located.

Sunny Shores Hotel

Sunny Shores Hotel is a local hotel that has a few resort-style amenities such as a spa, salon, and fitness center in addition to its traditional hotel accommodations, restaurants, bar, lounge, pool, tennis courts, and free transportation to and from the airport. Sunny Shores Hotel is located close to a variety of local attractions and scenic areas. Guests can go hiking or bicycling on trails nearby or easily access public beaches.

While Sunny Shores Hotel has many appealing accommodations, it lacks the modern technology, full-service amenities, and additional attractions Ocean View Resort will provide.

Competitive Advantage

Ocean View Resort will be able to offer the following advantages over the competition:

• Location: Ocean View Resort’s location provides the best access to the beach, shopping districts, nightclubs, and other amenities. The Company also offers adequate parking (along with valet parking), making it easy for customers to relax upon arrival.

Marketing Plan

Brand & value proposition.

Ocean View Resort will offer a unique value proposition to its clientele:

• Convenient location close to local attractions and the beach
• Luxurious amenities
• Exceptional personalized customer service

Promotions Strategy

The promotions strategy for Ocean View Resort is as follows:

Social Media

Ocean View Resort will invest heavily in a social media advertising campaign. The brand manager will create the Company’s social media accounts and invest in ads on all social media platforms. It will use targeted marketing to appeal to the target demographics.

Website/SEO

Ocean View Resort will invest heavily in developing a professional website that displays all of the features and benefits of the resort. It will also invest heavily in SEO so that the brand’s website will appear at the top of search engine results.

Advertising

Ocean View Resort will initially advertise on travel websites, which are frequently used to book travel due to their ease of use and reviews.

Ongoing Customer Communications

Ocean View Resort will publish a monthly email newsletter to tell new and past customers about promotions and events.

Pricing Strategy

Ocean View Resort’s pricing will fluctuate based on the season and occupancy percentages. However, we will typically charge similar rates as other luxury resorts in the area.

Operations Plan

The following will be the operations plan for Ocean View Resort.

Operation Functions:

• Jacob Ellis will be the owner of the resort and hire the appropriate staff to manage it. He will also act as CEO and manage the overall operation and executive functions of the company.
• Rebecca Ellis will be the Administrative Assistant and assist Jacob with all the administrative tasks for the company.
• David Blyg will act as the Maintenance Engineer and attend to all mechanical and plumbing issues that may arise.
• Jacob will hire a General Manager and Assistant Manager to run the resort.
• Jacob will also hire a full staff of housekeepers, desk attendants, and other employees to run and manage all aspects of the resort (such as the bar, cafe, and spa).

Milestones:

Ocean View Resort will have the following milestones completed in the next six months.

• 3/202X Finalize land purchase
• 4/202X Finalize blueprints for the resort
• 5/202X Hire and train initial staff
• 6/202X Kickoff of promotional campaign
• 7/202X Finish building the resort
• 8/202X Launch Ocean View Resort

Financial Plan

Key revenue & costs.

Ocean View Resort’s revenues will come primarily from booking fees for the resort’s many amenities. The company will charge varying rates per night based on demand and seasonality. Ocean View Hotel & Resort will also sell multiple packages to appeal to a range of guests, such as a health and wellness package and a staycation package.

The land purchase, equipment, supplies, and labor expenses will be the key cost drivers of Ocean View Resort. Other cost drivers include marketing expenses, maintenance, and taxes.

Funding Requirements and Use of Funds

Key assumptions.

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

• Average nightly rate: $500
• Year 3: 100
• Year 4: 125
• Year 5: 150

Financial Projections

Income statement.

Balance Sheet

Cash Flow Statement

Resort Business Plan FAQs

What is a resort business plan.

A resort business plan is a plan to start and/or grow your resort business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing strategy and details your financial projections.

You can easily complete your Resort business plan using our Resort Business Plan Template here .

What are the Steps To Start a Resort Business?

Starting a resort business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop a Well-Crafted Business Plan – The first step in starting a business is to create a detailed resort business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure – It’s important to select an appropriate legal entity for your resort business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do market research and choose wisely so that your resort business is in compliance with local laws.

3. Register Your Resort Business – Once you have chosen a legal structure, the next step is to register your resort business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options – It’s likely that you’ll need some capital to start your resort business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location – Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.  For example, an eco-tourism resort may require a location near a forest or nature reserve, while a beach resort would need to be located close to the beach. 

6. Hire Employees – There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Resort Equipment & Supplies – In order to start your resort business, you’ll need to purchase all of the necessary equipment and supplies to run a successful operation , but this will depend on the type of resort you plan to open. For a health spa resort, for example, you may need to invest in massage tables, spa equipment and beauty products. For a ski resort, you will need to purchase snow-making machines and lifts.

8. Market & Promote Your Business – Once you have all the necessary pieces in place, it’s time to start promoting and marketing your resort business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.

Resort Business Plan Template

In today’s fast-paced world, the resort industry has emerged as a thriving sector, catering to the ever-growing demand for leisure and vacation experiences. Resorts offer a wide range of amenities and activities, providing guests with a luxurious and rejuvenating getaway from their daily routines. However, starting and running a successful resort requires careful planning and strategic decision-making.

This article aims to provide an insightful overview of a resort business plan, highlighting its significance in the competitive marketplace. Whether you’re an entrepreneur looking to launch a new resort or an existing resort owner seeking to enhance your operations, a well-developed business plan serves as a roadmap for success. By analyzing various aspects such as market trends, target demographics, marketing strategies, financial projections, and operational considerations, a comprehensive resort business plan sets the foundation for sustainable growth and profitability.

Executive Summary

The executive summary of a resort business plan serves as a concise snapshot of the entire plan, providing key stakeholders with a quick understanding of the business concept, objectives, and strategies. It outlines the core elements of the plan, including financial projections, marketing strategies, and operational goals. The executive summary serves as an important tool for investors, lenders, and potential partners who want to grasp the resort’s potential before delving into the detailed plan. It should showcase the resort’s unique selling proposition, market positioning, and the expected financial returns, capturing the attention and interest of potential stakeholders.

Business Description

The business description section of a resort business plan delves into the heart of the venture, providing a detailed overview of the resort’s vision, mission, and core values. It articulates the purpose of the resort, highlighting the experiences and benefits it aims to offer to its target market. This section also describes the resort’s target market and customer profile, presenting a clear understanding of the demographic, psychographic, and behavioral characteristics of the desired clientele.

Moreover, the business description outlines the resort’s unique selling proposition and competitive advantage. It identifies the factors that differentiate the resort from its competitors, such as its location, architectural design, amenities, service quality, or sustainability initiatives. This section also presents an overview of the resort’s facilities and amenities, showcasing the range of offerings that make it an attractive destination for travelers seeking relaxation, adventure, or entertainment.

Additionally, the business description highlights the legal structure and ownership details of the resort. It specifies whether the resort operates as a sole proprietorship, partnership, corporation, or any other legal entity, and provides relevant information regarding ownership distribution, board of directors, and key stakeholders.

By effectively conveying the resort’s vision, target market, unique value proposition, and legal structure, the business description sets the stage for the comprehensive analysis and strategies that follow in the rest of the business plan.

Market Analysis

The market analysis section of the resort business plan dives into a comprehensive evaluation of the resort industry and its dynamics. It provides a clear understanding of the current state of the market, including its size, growth trends, and key drivers. This analysis helps identify opportunities, challenges, and potential risks that the resort may face in the competitive landscape.

This section includes an in-depth analysis of the target market, considering demographics, psychographics, and behavioral patterns of the desired customer base. It outlines the specific characteristics of the target market, such as age, income level, geographic location, travel preferences, and interests. Additionally, it explores market segmentation and identifies niche markets that the resort can effectively cater to.

Furthermore, the market analysis evaluates the competitive landscape by identifying and analyzing key competitors. This includes assessing their strengths, weaknesses, market share, pricing strategies, and unique selling propositions. By understanding the competitive environment, the resort can identify areas of differentiation and develop strategies to gain a competitive edge.

Lastly, the market analysis section examines market trends, including emerging consumer preferences, technological advancements, and regulatory changes. By staying abreast of industry trends, the resort can adapt its offerings, marketing strategies, and operational practices to meet evolving customer demands.

Marketing and Sales Strategy

The marketing and sales strategy section outlines the resort’s approach to promoting its brand, attracting customers, and generating revenue. It defines the resort’s brand identity and positioning, highlighting the unique value proposition that sets it apart from competitors. This section also includes the resort’s marketing objectives and goals, ensuring alignment with the overall business objectives.

The marketing and sales strategy delineates the target market segments that the resort will focus on, along with the specific marketing channels and tactics to reach those segments. It includes a comprehensive marketing plan that outlines online and offline marketing activities, such as social media marketing, search engine optimization, content marketing, traditional advertising, public relations, and partnerships.

Additionally, the strategy addresses pricing strategies, taking into account market demand, competition, and the resort’s cost structure. It also encompasses revenue generation techniques, including upselling, cross-selling, package deals, and ancillary services.

Furthermore, the marketing and sales strategy defines customer relationship management practices and outlines strategies for customer retention, loyalty programs, and guest satisfaction measurement. It emphasizes the importance of providing exceptional customer service and experiences to foster positive word-of-mouth and repeat business.

Operations and Management

The operations and management section of the resort business plan outlines the organizational structure, key management personnel, and the operational processes necessary for smooth and efficient resort operations.

This section defines the roles and responsibilities of the management team, highlighting their relevant experience and expertise. It identifies the key decision-makers and their contributions to the overall success of the resort. It also outlines the staffing requirements and recruitment strategies for hiring skilled and competent employees across various departments.

Moreover, the operations and management section provides an overview of the resort’s operational processes, including front desk operations, housekeeping, maintenance, food and beverage services, and recreational activities. It emphasizes the importance of maintaining high-quality standards and efficient workflow to deliver exceptional guest experiences.

Additionally, this section addresses quality control measures, such as employee training programs, standard operating procedures, and regular performance evaluations. It also discusses the resort’s customer service policies, ensuring that the staff is well-equipped to handle guest inquiries, complaints, and feedback.

Furthermore, the operations and management section highlights the technology and systems necessary for efficient resort management. This includes property management systems, reservation systems, inventory management, and security systems.

By addressing the organizational structure, management team, operational processes, and technology infrastructure, this section ensures that the resort is well-prepared to deliver exceptional service and operational efficiency.

Financial Plan

The financial plan section of the resort business plan provides a comprehensive analysis of the financial aspects of the venture. It includes projections, budgets, and financial strategies that ensure the resort’s profitability and sustainability.

This section starts with an overview of the start-up costs and initial investment requirements. It outlines the expenses associated with land acquisition, construction or renovation, permits and licenses, equipment purchase, staffing, marketing, and other operational needs. Additionally, it includes details of any external financing sources, such as loans or investments, and their terms.

The financial plan also includes revenue forecasts and sales projections. It estimates the expected revenue based on anticipated occupancy rates, average daily rates, and other revenue streams, such as food and beverage, spa services, and recreational activities. It considers seasonal variations and market trends to develop a realistic revenue projection.

Moreover, the financial plan includes a break-even analysis, which determines the point at which the resort’s revenue covers all its costs and expenses. It helps in assessing the viability and sustainability of the business model.

Furthermore, the financial plan allocates budgets for various functional areas, such as marketing, operations, human resources, and maintenance. It ensures proper financial management by monitoring and controlling expenses and optimizing resource allocation.

Lastly, the financial plan addresses financing options and capital acquisition strategies. It explores possibilities for additional funding, refinancing, or strategic partnerships to support the resort’s growth and expansion plans.

Risk Analysis

The risk analysis section of the resort business plan identifies and evaluates potential risks and challenges that may impact the resort’s operations and profitability. By proactively assessing risks, the resort can develop effective strategies to mitigate or minimize their impact.

This section begins with a comprehensive risk assessment, considering both internal and external factors. Internal risks may include inadequate staff training, operational inefficiencies, or equipment breakdowns, while external risks can range from economic downturns and natural disasters to regulatory changes and reputational risks.

Each identified risk is analyzed for its potential impact on the resort’s operations and financial performance. A risk probability and impact matrix may be used to prioritize risks based on their likelihood and severity.

Once risks are identified and assessed, the risk analysis section outlines specific strategies and contingency plans to address each risk. It may include developing alternative suppliers, implementing disaster recovery plans, securing appropriate insurance coverage, or diversifying revenue streams.

Furthermore, the risk analysis section may discuss legal considerations and compliance requirements relevant to the resort’s operations. It ensures that the resort adheres to all applicable laws and regulations to mitigate legal risks and maintain a positive reputation.

Implementation Timeline

The implementation timeline section of the resort business plan outlines the key activities and milestones necessary to launch and scale the resort. It provides a roadmap for the phased approach to developing the resort and achieving specific objectives within defined timeframes.

This section begins with a high-level overview of the major stages of development, such as land acquisition, construction, interior design, staff recruitment, pre-opening marketing, and operational launch. It specifies the estimated duration for each stage.

Next, the implementation timeline breaks down each stage into specific tasks and activities. It assigns responsibilities, sets deadlines, and defines dependencies between activities. This ensures a well-structured and coordinated approach to the resort’s development.

Additionally, the implementation timeline may include milestones related to financial achievements, such as securing funding, reaching target occupancy rates, or achieving profitability. It provides a clear timeline for evaluating the progress and success of the resort’s operations.

The implementation timeline should also consider potential challenges or delays that may impact the project’s timeline. It allows for contingencies and adjustments to ensure a realistic and achievable plan.

By providing a detailed implementation timeline, the resort can effectively manage resources, monitor progress, and ensure timely completion of key activities, leading to a successful launch and operation of the resort.

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Sample Resort Business Plan

Writing a business plan is a crucial step in starting a resort. Not only does it provide structure and guidance for the future, but it also helps to create funding opportunities and attract potential investors. For aspiring resort owners, having access to a sample resort business plan can be especially helpful in providing direction and gaining insight into how to draft their own resort business plan.

Download our Ultimate Resort Business Plan Template

Having a thorough business plan in place is critical for any successful resort venture. It will serve as the foundation for your operations, setting out the goals and objectives that will help guide your decisions and actions. A well-written business plan can give you clarity on realistic financial projections and help you secure financing from lenders or investors. A resort business plan example can be a great resource to draw upon when creating your own plan, making sure that all the key components are included in your document.

The resort business plan sample below will give you an idea of what one should look like. It is not as comprehensive and successful in raising capital for your resort as Growthink’s Ultimate Resort Business Plan Template , but it can help you write a resort business plan of your own.

Resort Business Plan Example – EscapeElysium Resort

Table of contents, executive summary, company overview, industry analysis, customer analysis, competitive analysis, marketing plan, operations plan, management team, financial plan.

EscapeElysium Resort is a newly established luxury resort located in the heart of Wichita, KS, offering an unparalleled experience of relaxation and indulgence. Our mission is to provide guests with an escape from the ordinary, enveloping them in a world of luxury, comfort, and tranquility. Set against a backdrop of breathtaking landscapes, our resort features state-of-the-art facilities, including a spa, fine dining restaurants, and elegantly designed accommodations. Our commitment to exceptional customer service and a personalized guest experience sets us apart in the competitive hospitality industry. EscapeElysium Resort is not just a destination; it’s an experience, promising every visitor a slice of paradise in Wichita.

Our success is driven by several key factors and accomplishments. Firstly, our strategic location in Wichita, KS, positions us perfectly to attract both local and international visitors looking for a unique luxury resort experience. Additionally, our commitment to providing unparalleled customer service and personalized experiences has already garnered positive feedback in our early operations. Our innovative approach to integrating technology for seamless service delivery and guest interaction further enhances our competitive edge. We’ve also established partnerships with local businesses to enrich our guests’ experiences, making us a notable newcomer in the luxury hospitality market.

The luxury resort industry is characterized by its high level of competition and the constant need for innovation to meet evolving customer expectations. Trends indicate a growing demand for personalized experiences, wellness-focused amenities, and sustainable practices. The industry is also influenced by economic factors, with luxury travel often seen as a direct beneficiary of economic upturns. Recognizing these trends, EscapeElysium Resort is poised to cater to the sophisticated needs of our target market by offering a unique blend of luxury, relaxation, and personalized services that prioritize guest wellness and sustainability. Our focus on these key industry drivers ensures our relevance and appeal in the competitive market landscape.

Our target customers are affluent individuals and couples seeking a luxury escape that provides relaxation, indulgence, and unique experiences. They are typically aged 30-60, value high-quality services, and seek more than just accommodation; they look for an exceptional and memorable stay. Our guests prioritize wellness, privacy, and personalized services, and they possess the disposable income to pay a premium for these experiences. Understanding our customers’ preferences and expectations allows us to tailor our offerings, ensuring that EscapeElysium Resort exceeds their demands for luxury, comfort, and exclusivity.

Top Competitors:

Luxury Haven Resort & Spa: Offers a wide range of wellness amenities. Paradise Peak: Known for its exceptional dining experiences. Grandeur Getaways: Features extensive outdoor adventure activities.

Our competitive advantage lies in our unparalleled customer service, our unique blend of luxury and technology for personalized guest experiences, and our strategic partnerships with local businesses. These factors differentiate us from our competitors and position us as a leading choice for luxury travel in Wichita, KS.

EscapeElysium Resort combines innovative and traditional marketing strategies to attract and retain our target audience. Our product offerings, including luxurious accommodations, spa services, and gourmet dining, are priced competitively to offer value while ensuring a premium experience. We leverage online marketing through social media, SEO, and email campaigns to engage potential guests. Additionally, our promotions plan includes targeted ads, local partnerships, and hosting special events to showcase our resort. Influencer collaborations and encouraging guest referrals play a significant role in our strategy, aiming to build a loyal customer base through authentic and personal experiences.

Our key operational processes focus on providing exceptional guest experiences through efficient service delivery and personalized guest engagement. We are implementing advanced reservation systems and guest management technology to streamline operations. Milestones include the completion of our luxury spa and wellness center, achieving a 75% occupancy rate within the first year, and establishing partnerships with at least five local businesses to enhance our guest offerings. These steps are crucial for ensuring operational excellence and for solidifying EscapeElysium Resort’s reputation as a premier luxury destination.

Our management team comprises experienced professionals with diverse backgrounds in the hospitality industry. Led by our CEO, a veteran with over 20 years in luxury resort management, our team includes experts in guest services, operations, marketing, and finance. Each member brings a wealth of knowledge and a proven track record of success, positioning EscapeElysium Resort for exceptional performance and growth in the luxury hospitality market.

Welcome to EscapeElysium Resort, a new gem in the heart of Wichita, KS. As a local resort, we pride ourselves on bringing a much-needed high-quality vacation and relaxation experience to the area. Understanding the lack of premium local resorts, we’ve stepped in to fill this gap, ensuring that our community and visitors to Wichita have access to unparalleled hospitality and leisure services right on their doorstep.

At EscapeElysium Resort, our offerings are designed to cater to a wide range of needs and preferences. Our accommodation services are top-notch, providing a comfortable and luxurious stay for all our guests. We believe that dining is a crucial part of the resort experience, which is why our culinary services aim to delight with a variety of delicious, high-quality meals prepared by our skilled chefs. For those looking to relax or stay active, our recreational facilities include everything from a state-of-the-art gym to serene spa treatments. We also offer comprehensive event and conference services, equipped to host gatherings of all sizes in our beautiful spaces. Additionally, our concierge and guest services are always at hand to ensure every need is met, making stays at EscapeElysium Resort truly unforgettable.

Located in the vibrant city of Wichita, KS, EscapeElysium Resort serves both the local community and visitors looking for an exceptional getaway. Our strategic location combines the tranquility necessary for a relaxing stay with the convenience of being close to the city’s attractions.

Our foundation for success is built on a few key factors. Firstly, our founder brings invaluable experience from previously running a successful resort, ensuring that we understand the intricacies of delivering high-quality hospitality services. Secondly, we are committed to providing superior accommodation, recreational, and guest services compared to our competitors. Furthermore, our venue’s beauty is unmatched, offering an idyllic setting for both relaxation and events.

Since our inception on January 3, 2024, as a Limited Liability Company, we have made significant strides. Our achievements include the creation of a unique and recognizable logo, the development of our company name that resonates with our mission and vision, and securing a fantastic location that complements our offerings. These accomplishments mark just the beginning of our journey towards becoming the premier resort destination in Wichita, KS.

The Resort industry in the United States is a thriving sector that continues to grow year after year. Currently, the market size of the Resort industry in the US is estimated to be around $200 billion. With an increasing number of people looking for unique and luxurious vacation experiences, the demand for resorts is expected to continue rising in the coming years. This presents a significant opportunity for new resorts like EscapeElysium Resort to enter the market and cater to the growing customer base.

One of the key trends in the Resort industry that bodes well for EscapeElysium Resort is the shift towards experiential travel. Customers are increasingly looking for immersive and personalized experiences during their vacations, rather than just a place to stay. EscapeElysium Resort can capitalize on this trend by offering unique activities, amenities, and services that cater to the desires of modern travelers. By providing a memorable and unforgettable experience, EscapeElysium Resort can differentiate itself from competitors and attract a loyal customer base.

Additionally, the growing trend of wellness tourism presents a significant opportunity for EscapeElysium Resort to attract customers in Wichita, KS. With more people prioritizing health and well-being in their travel experiences, resorts that offer spa treatments, fitness classes, healthy dining options, and outdoor activities are in high demand. EscapeElysium Resort can position itself as a wellness-focused destination, providing guests with a rejuvenating and relaxing retreat from their everyday lives. By aligning with this trend, EscapeElysium Resort can set itself apart and appeal to health-conscious travelers in the region.

Below is a description of our target customers and their core needs.

Target Customers

EscapeElysium Resort will target a diverse array of customers, with a significant emphasis on local residents. These individuals are likely seeking a convenient escape without the need for extensive travel. The resort will tailor its offerings to cater to the preferences and needs of this demographic, promoting staycation packages and local getaway deals to attract this customer segment.

Beyond local residents, EscapeElysium Resort will also focus on attracting tourists and business travelers visiting Wichita. The resort will offer amenities and services that cater to the needs of these guests, such as conference facilities for business meetings and unique experiences for tourists looking to explore the local culture. This approach is expected to diversify the customer base and ensure a steady flow of guests throughout the year.

Additionally, EscapeElysium Resort will target couples and families seeking a luxurious getaway or celebration destination. Special packages for anniversaries, honeymoons, and family holidays will be developed, aiming to make the resort a top choice for those special occasions. By offering a mix of relaxation and adventure, the resort will meet the expectations of a wide range of guests, ensuring memorable experiences for every visitor.

Customer Needs

EscapeElysium Resort caters to guests seeking high-quality accommodation by offering luxurious rooms and suites designed with comfort and elegance in mind. Visitors can expect state-of-the-art amenities within their living spaces, ensuring a stay that combines relaxation with the comforts of modern living. This commitment to quality accommodation enables guests to experience a home away from home, where every need is anticipated and met with exceptional service.

Aside from superior lodging, EscapeElysium Resort provides a variety of recreational activities designed to entertain and relax. Guests can indulge in a wide range of on-site amenities, including a world-class spa, fitness center, and outdoor pools, all set within beautifully landscaped grounds. These facilities cater to all ages and interests, ensuring that every visitor can find something to enjoy, whether they are looking for adventure or a peaceful retreat.

At EscapeElysium Resort, guest services are paramount, with a dedicated team available to cater to every whim. From concierge services that can arrange local tours and reservations to 24/7 room service for those midnight cravings, guests can expect a level of service that goes above and beyond. This commitment to excellence in guest services ensures a seamless and unforgettable experience, making EscapeElysium Resort the perfect destination for those seeking luxury, recreation, and impeccable service.

EscapeElysium Resort’s competitors include the following companies: Cruise Holidays of Wichita, Homewood Suites by Hilton – The Waterfront, and Hilton Garden Inn Wichita Downtown. Each of these competitors offers distinct products and services, caters to specific customer segments, and operates in various locations.

Cruise Holidays of Wichita specializes in providing cruise vacation planning services. They offer a wide range of cruise options, from luxury to budget-friendly cruises, catering to different customer preferences and price points. Their key strength lies in their personalized service and extensive knowledge of the cruise industry, which allows them to tailor vacation packages to individual customer needs. However, their focus on cruises might limit their appeal to customers looking for a more traditional resort experience.

Homewood Suites by Hilton – The Waterfront is located in a prime area, offering guests stunning views and a serene environment. They provide a range of accommodations, from standard rooms to suites, equipped with kitchens for longer stays. Their price points are competitive, offering value through complimentary breakfast and evening socials on weekdays. A key strength is their appeal to both business and leisure travelers, thanks to their versatile room offerings and amenities like a fitness center and pool. However, their location, while beautiful, might not be as accessible for those looking to explore downtown Wichita more extensively.

Hilton Garden Inn Wichita Downtown, situated in the heart of the city, serves as an ideal spot for travelers seeking proximity to Wichita’s business and entertainment districts. They offer a variety of room types at different price points, catering to both business travelers and tourists. Their amenities include a fitness center, indoor pool, and an on-site restaurant, providing convenience and comfort to their guests. A key strength is their central location, which allows easy access to local attractions and businesses. However, compared to resorts or vacation-specific hotels, they might lack the unique leisure-focused amenities and experiences that some travelers seek. In summary, these competitors serve different segments of the market, from those looking for luxury cruise vacations and serene waterfront stays to guests preferring the convenience of a downtown location. Each has its strengths, such as personalized cruise planning services, comprehensive amenities for extended stays, and central locations for business and leisure activities. Their weaknesses range from a limited appeal to non-cruise travelers, potential accessibility issues for those wishing to explore beyond the waterfront, and a possible lack of unique leisure amenities for those seeking a resort-like experience.

Competitive Advantages

At EscapeElysium Resort, we pride ourselves on delivering an unparalleled experience to our guests through our superior quality accommodations, recreation, and guest services. Our commitment to excellence ensures that every aspect of a guest’s stay exceeds expectations, setting us apart from the competition. Our accommodations are meticulously designed for comfort and luxury, offering a serene and lavish escape from the everyday. We understand the importance of a comprehensive vacation experience, which is why our recreational activities are tailored to cater to a wide range of interests, ensuring there’s something for everyone. Our guest services team goes above and beyond, providing personalized attention and care to make every stay memorable.

Furthermore, our venue’s beauty is a significant competitive advantage, offering guests a breathtaking backdrop that enhances their stay with us. The picturesque surroundings not only serve as a perfect setting for relaxation and rejuvenation but also offer numerous photographic opportunities that our guests cherish. This unique combination of high-quality services and our stunning venue enables us to offer a unique value proposition in the hospitality market. Our attention to detail, commitment to guest satisfaction, and the natural allure of our location make us a preferred choice for travelers seeking an exceptional resort experience in the region. In essence, our dedication to creating unforgettable experiences through our superior offerings and beautiful venue establishes us as a leader in the hospitality industry.

Our marketing plan, included below, details our products/services, pricing and promotions plan.

Products and Services

EscapeElysium Resort offers a variety of services tailored to meet the needs of its guests, ensuring a memorable stay filled with luxury, comfort, and adventure. From exquisite accommodation options to diverse culinary experiences, the resort is designed to cater to every preference and occasion.

The resort provides exceptional accommodation services, with a range of rooms and suites designed for ultimate comfort and relaxation. Guests can expect to find elegantly furnished spaces that blend modern aesthetics with functionality. Prices for accommodation vary depending on the room type and season, with an average price starting from $250 per night. Each room is equipped with state-of-the-art amenities to ensure a stay that is both luxurious and comfortable.

Dining and culinary services at EscapeElysium Resort are a highlight, offering an array of gastronomic delights. The resort boasts several restaurants and bars, each presenting a unique menu that features local and international cuisine prepared by world-class chefs. Guests can indulge in fine dining experiences or enjoy casual meals in a relaxed atmosphere. The average cost of a meal per person is around $50, providing a range of options to suit diverse tastes and budgets.

For those seeking leisure and entertainment, the resort’s recreational facilities are second to none. Guests can enjoy access to a variety of amenities including a state-of-the-art fitness center, outdoor swimming pools, a spa, and tennis courts. Additionally, the resort offers bespoke activities such as guided tours, water sports, and outdoor adventures. Prices for recreational activities and facilities access vary, with an average cost of $100 per person for exclusive activities.

EscapeElysium Resort is also an ideal destination for hosting events and conferences. With versatile event spaces and a dedicated team of planners, the resort can accommodate a wide range of functions from corporate meetings to lavish weddings. Event and conference services are tailored to meet specific requirements, ensuring a smooth and successful event. Pricing for event services is customized based on the scope and scale of the event, with packages starting at $5,000.

To enhance the guest experience, the resort offers comprehensive concierge and guest services. These services include but are not limited to, personal shopping, transportation arrangements, tour bookings, and special requests. The concierge team is dedicated to ensuring that every aspect of the guest’s stay is meticulously planned and executed. Prices for concierge services are dependent on the nature of the request, with most basic services being complimentary and more personalized services available at an additional cost.

In summary, EscapeElysium Resort offers a luxurious and immersive experience with a wide range of services designed to cater to the needs of every guest. Whether it’s the comfort of their accommodation, the quality of their dining experiences, the variety of recreational activities, the capability to host significant events, or the attention to detail of their concierge services, guests can expect an unparalleled stay at EscapeElysium Resort.

Promotions Plan

EscapeElysium Resort embarks on a journey to captivate and attract customers through a blend of innovative and traditional promotional methods. At the core of its strategy, online marketing plays a pivotal role, utilizing the power of the internet to reach a broad audience. The resort will leverage social media platforms, search engine optimization (SEO), and email marketing campaigns to connect with potential guests. Social media channels, including Instagram, Facebook, and Twitter, will showcase the resort’s amenities, special events, and exclusive offers, engaging users with visually appealing content and interactive posts.

Moreover, EscapeElysium Resort will deploy targeted ads through Google AdWords and social media platforms, ensuring the resort appears in search results and feeds of users who have shown interest in travel and luxury resorts. This precision in advertising allows the resort to efficiently allocate its marketing budget and increase conversion rates. Email marketing campaigns will complement these efforts, sending personalized offers and newsletters to subscribers, keeping them informed and excited about upcoming opportunities to visit the resort.

Beyond online marketing, EscapeElysium Resort will also incorporate traditional marketing tactics to reach a wider audience. Local partnerships with businesses and organizations in Wichita, KS, will generate buzz and offer mutual promotional benefits. Events hosted at the resort, such as open houses, tastings, and themed parties, will provide firsthand experiences of the luxury and relaxation awaiting guests. Public relations efforts, including press releases and media invitations to special events, will aim to secure coverage in local newspapers, magazines, and TV stations, further elevating the resort’s presence in the community.

Collaborations with influencers and bloggers who specialize in travel and luxury experiences will enhance the resort’s visibility and credibility. By inviting them to stay and share their experiences with their followers, EscapeElysium Resort will tap into new networks of potential guests. Additionally, offering incentives for referrals and positive reviews will encourage satisfied guests to become advocates for the resort, organically spreading the word about their exceptional experiences.

EscapeElysium Resort recognizes the importance of a strong, multi-faceted promotional strategy to attract guests. Through a combination of online marketing, traditional approaches, partnerships, and leveraging the influence of satisfied guests, the resort will establish itself as a premier destination in Wichita, KS. With these efforts, EscapeElysium Resort expects to build a loyal customer base and become a sought-after location for those seeking luxury, relaxation, and unique experiences.

Our Operations Plan details:

• The key day-to-day processes that our business performs to serve our customers
• The key business milestones that our company expects to accomplish as we grow

Key Operational Processes

To ensure the success of EscapeElysium Resort, there are several key day-to-day operational processes that we will perform.

• Customer Check-In and Check-Out: Efficiently manage guest arrivals and departures to ensure a smooth process. Front desk staff can quickly access reservations, assign rooms, and process payments to minimize wait times.
• Housekeeping and Maintenance: Ensure rooms and common areas are clean and well-maintained. Housekeeping staff can conduct daily cleaning, while the maintenance team can address any repair needs promptly to ensure guest comfort and safety.
• Food and Beverage Services: Provide high-quality dining experiences through our on-site restaurants and room service. Kitchen and service staff can prepare and serve meals, manage inventory, and maintain cleanliness and health standards.
• Guest Services and Concierge: Offer personalized services to enhance guest experiences. Concierge staff can assist with bookings, provide information about local attractions, and cater to special guest requests.
• Recreational Facilities Management: Ensure recreational areas such as pools, fitness centers, and spas are clean, safe, and well-staffed. Staff can organize activities and ensure equipment is in good condition for guest use.
• Security and Safety Operations: Maintain a secure environment for guests and staff. Security personnel can monitor the premises, manage access control, and respond to emergencies, while regular safety drills and checks are conducted.
• Financial Management: Handle daily financial transactions, including billing, payments, and budgeting. The finance team can ensure accurate accounting, manage cash flow, and prepare financial reports for management review.
• Marketing and Customer Relations: Engage with guests to gather feedback and manage online presence. Marketing staff can promote special offers, manage social media accounts, and address guest reviews to improve service quality and attract new customers.
• Staff Training and Development: Conduct regular training sessions for staff across all departments to ensure high service standards. Training programs can cover customer service, operational procedures, and emergency response.
• Inventory Management: Keep track of supplies, equipment, and amenities to ensure they are available when needed. Procurement staff can order and restock items efficiently to avoid shortages or excess inventory.

EscapeElysium Resort expects to complete the following milestones in the coming months in order to ensure its success:

• Securing a Prime Location: Successfully negotiate and secure a lease or purchase agreement for a prime location that aligns with the target market’s preferences and accessibility in Wichita, KS.
• Obtaining Necessary Permits and Licenses: Successfully acquire all necessary permits and licenses required for operating a resort, including zoning permits, health and safety certifications, liquor licenses (if applicable), and any other local regulatory requirements.
• Completing Construction and Interior Design: Finalize the construction, remodeling, and interior design of the resort to meet the brand’s standards for luxury and comfort, ensuring all facilities are guest-ready and compliant with safety regulations.
• Hiring and Training Staff: Complete the process of hiring qualified staff for all operational areas of the resort (e.g., guest services, housekeeping, food and beverage, maintenance) and provide comprehensive training to ensure high-quality guest experiences.
• Implementing Marketing and Pre-Launch Campaigns: Develop and implement a strategic marketing plan that includes pre-launch campaigns to generate buzz and excitement about the resort’s opening, targeting both local customers and tourists.
• Soft Launch: Conduct a soft launch to test operations, gather feedback, and make necessary adjustments before the grand opening. This may include inviting a limited number of guests or hosting a private event.
• Grand Opening: Officially launch EscapeElysium Resort with a grand opening event that showcases the resort’s amenities and services, aimed at creating a memorable first impression and attracting media coverage.
• Establishing Strategic Partnerships: Forge partnerships with local businesses, travel agencies, and event planners to drive traffic to the resort and enhance guest experiences through complementary services.
• Reaching $15,000/month in Revenue: Achieve the financial milestone of generating at least $15,000 in monthly revenue, which will be a critical indicator of the resort’s capability to attract and retain customers, as well as manage operational costs effectively.
• Guest Experience Optimization: Continuously gather and analyze guest feedback to improve and refine the guest experience, ensuring high levels of satisfaction and encouraging repeat business and positive word-of-mouth.

EscapeElysium Resort management team, which includes the following members, has the experience and expertise to successfully execute on our business plan:

Vivian Alexander, President

Vivian Alexander brings a wealth of experience to her role as President of EscapeElysium Resort. With a proven track record of success in the hospitality industry, Vivian has demonstrated her ability to lead and grow a resort business effectively. Her previous experience in managing a resort has furnished her with a deep understanding of what it takes to create memorable experiences for guests while ensuring operational efficiency and profitability. Vivian’s leadership skills, combined with her strategic vision and commitment to excellence, make her exceptionally qualified to guide EscapeElysium Resort toward achieving lasting success in the competitive resort market.

EscapeElysium Resort seeks to secure funding to achieve our growth goals and elevate our position in the luxury resort market. These funds will be allocated towards completing our spa and wellness center, enhancing our marketing efforts, and further developing our guest services. Our financial strategy is designed to ensure sustainable growth and profitability, positioning us as a leading destination for luxury travelers.

Financial Statements

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The Truth Behind Trump Tower Moscow: How Trump Risked Everything For A (Relatively) Tiny Deal

This story appears in the June 30, 2019 issue of Forbes Magazine. Subscribe

I t’s getting late, and Felix Sater—a onetime Trump partner, two-time convicted felon and longtime government cooperator—sits in the back of a New York City restaurant, ready for a drink. “A very dirty martini, Russian vodka,” he tells the waiter. “A collusion martini.”

No one outside of the Trump Organization has more firsthand knowledge of Donald Trump's connections to Russia than Felix Sater. In 2006, he scouted a potential deal in Moscow with the president's children Don Jr. and Ivanka. In 2007, he stood alongside Trump at a launch party for a hotel Sater had helped get built, Trump SoHo, which marketed partially to Russian buyers. And during the 2016 presidential campaign, Sater helped plan a giant Trump tower in Moscow.

"Here's to fun times," he says, hoisting his martini glass in the air.

Fun times indeed. Special Counsel Robert Mueller's 448-page report highlights three separate proposals to develop a Trump property in Moscow around the time of the election. Yet key details have remained vague. Forbes got in touch with the people at the center of all three—and uncovered concrete answers to fundamental questions about Trump's plans in Russia.

Three years ago, Michael Cohen was working on a potential Trump tower in Moscow. Today he is in prison for crimes that include lying to Congress about the project.

Such as who was actually going to pay for the project. Trump, now more of a licensor than builder, certainly wasn't planning on putting in much of his own money. And according to Sater, who brokered the proposal that extended furthest into the campaign, nor was Trump's official partner, Andrey Rozov. Instead, Sater says, he was cooking up a plan to raise huge sums from additional investors, including two of Vladimir Putin's closest cronies, Boris and Arkady Rotenberg . "We would have gone to them and asked them for four or five hundred million dollars cash," Sater says.

Another big, previously unsettled question: How much money could Trump have made in all of this? Both Mueller and former Trump attorney Michael Cohen have suggested, vaguely, "hundreds of millions." After mining business agreements and surveying real estate experts in Moscow, however, Forbes believes that's almost impossible. It seems more likely that Trump would have walked away with roughly $35 million up front and $2.6 million or so in annual fees, if everything went according to plan. In the rosiest of scenarios, Sater says, Trump could have gotten about $50 million. A lot of money to most people but less than 2% of the president's net worth ( estimated at $3.1 billion ).

Taken together, these revelations paint a new picture of Trump's plans in Russia and the president's way of doing business. His deal came with far greater risk—and far less reward—than previously understood. In short, candidate Trump jeopardized his eventual presidency on a middling deal and one that would have had Vladimir Putin's fingerprints all over it.

P art of the reason the Trump Tower Moscow narrative confuses people: There were three different attempts to attach the president's name to a Russian property in recent years. The first one emanates from the infamous 2013 Miss Universe contest, where 86 women strutted through a Moscow concert hall. Donald Trump, the co-owner of the pageant, took home the money, collecting an estimated $3 million from the local hosts: billionaire real estate tycoon Aras Agalarov and his son Emin, a pop singer. "I had a great weekend with you and your family," Trump tweeted afterward, tagging the elder Agalarov. "You have done a FANTASTIC job. TRUMP TOWER-MOSCOW is next."

One month later, in December 2013, the Trump Organization signed an agreement to brand an Agalarov property in Moscow, according to the Mueller report. The plan eventually called for 800 apartments near the concert venue that hosted the Miss Universe event, with 3.5% of sales going to Trump. If the whole building sold out, Emin Agalarov estimates Trump would have come away with $17 million or so.

2013 Miss Universe Pageant. Miss Venezuela took home the crown, but Donald Trump took home the money, collecting an estimated $3 million for bringing the pageant to Russia

Trump's daughter Ivanka toured the site in February 2014. That same month, though, the geopolitical landscape was shifting. Crowds were in the streets of Kiev, protesting Ukraine's Russia-friendly president, Viktor Yanukovych. He ultimately fled Ukraine, reportedly with the help of Putin. Within weeks, Putin sent soldiers into Crimea, a Ukrainian region neighboring Russia, effectively taking over. The landgrab sparked outrage in the international community, and the United States retaliated with economic sanctions.

Those measures, combined with falling oil prices, crippled the Russian economy—including the Moscow real estate market. The average price of new apartments plummeted an estimated 30% in 2014. Condos were selling for less than the cost of construction. Even in the unlikely event that the Agalarovs managed to build something amid all the turmoil, Emin Agalarov tells Forbes that Trump's payout would have been cut in half. Communications between the Trumps and the Agalarovs began to fade in the fall of 2014, according to the Mueller report. Donald Trump Jr. later told the Senate Judiciary Committee the project died because of "deal fatigue." A more likely cause of death: U.S. sanctions.

Who's Who In Towergate

With donald trump on one end and vladimir putin on the other, the web of people involved in trump's plans for moscow included members of the first family, oligarchs and russian officials..

In November 2015, Donald Trump, by then a presidential candidate, sat down with former Fox News host Bill O'Reilly, who challenged him over his accommodating stance toward Russia. "[Putin] doesn't make deals," O'Reilly reasoned. "He just rolls soldiers in to cause destruction and shoots down airplanes."

"Well," Trump replied, "he does what he has to do."

Unbeknownst to the American public, the Trump Organization, which did not respond to requests for comment on this story, was secretly communicating about a second potential deal in Russia around the same time. In September 2015, nearly a year after the Agalarov partnership dropped off, and with Trump now leading the Republican primary race, his lawyer Michael Cohen traded messages with a man named Giorgi Rtskhiladze, according to the Mueller report. Cohen and Rtskhiladze had previously worked together on business in the former Soviet states of Georgia and Kazakhstan.

Rtskhiladze sent Cohen a draft of a letter ultimately intended for the mayor of Moscow, which pitched a Trump development as a symbol of strengthening ties between the United States and Russia, according to the Mueller report. "[The mayor] is aware of the potential project and will pledge his support," the note said, according to the report.

Today Rtskhiladze says he was just passing along the message on behalf of a longtime friend and that friend's acquaintance. He claims the letter never made it to the mayor. And he suggests he's not even sure if what he sent Cohen was accurate. "I don't know if it's true or not if [the] mayor's office was ever notified, okay."

That's how it goes in Russia, a place where trust is in short supply and outsiders can suddenly find themselves in unnerving situations. Rtskhiladze says he had previously warned Cohen of the risks: "You have to be careful who you get involved with."

C aution, however, is not the Trump way. Cohen dismissed the Rtskhiladze plan and chose to pursue a third proposal, brokered by a man with a checkered past: Sater. Moscow-born, Brooklyn-bred, Sater started a career on Wall Street, until a bar fight—he stabbed a man in the face with a margarita glass—led to 15 months in prison. Three years after his release, he pleaded guilty to racketeering in a mob-connected pump-and-dump stock scheme. He stayed out of prison this time by working with the feds, ultimately supplying information about the Mafia, North Korea, Russian cybercriminals, even Osama bin Laden. At Sater's sentencing, about a decade after he began cooperating with the government, FBI agent Leo Taddeo, one of Sater's handlers at the bureau, credited him with helping pave the way for law enforcement to "basically eliminate" the mob from Wall Street's penny stock business. Former FBI official Ray Kerr adds: "There was nothing he wouldn't do or wouldn't try."

At the same time that he was serving as a government cooperator, Sater reinvented himself as a real estate dealmaker. It was in that role that he ended up working with the Trump Organization, on projects in Arizona, Florida, New York and, ultimately, Russia. For the Moscow effort, Sater served as both broker and dealmaker. His friend Andrey Rozov, who did not respond to our request for comment, was officially the local developer in Russia, but Sater says he expected a cut for himself as well. Trump signed the letter of intent, dated October 28, 2015, the same day as the third Republican presidential debate.

Felix Sater (right) stands alongside Donald Trump and Tevfik Arif at the Trump Soho Launch Party on September 19, 2007 in New York.

The tower was meant to be the tallest building in Europe, featuring a few floors of prime shopping, a high-end hotel and new office space, topped with 250 luxury residences, homes for the Russian elite. According to the terms, Rozov was on the hook for construction while Trump would simply lend his name and help manage the place once it opened. In exchange, according to the Mueller report, the presidential contender would get a cut of condo sales, beginning with 5% of the first $100 million and gradually stepping down to 1% of everything over $1 billion. Sater says each unit would have been about 2,500 square feet, far larger than the typical luxury condo in Moscow. They were targeting a price of about $1,500 a square foot, about 30% above the average for luxury apartments in town. If all went well, Trump would have walked away with an estimated $34 million from condo sales and upfront fees. Big money, sure, but nothing life changing for a guy worth $3.1 billion.

To juice the numbers, Sater says, he wanted to give away a penthouse to Putin. On top of the terrible optics, this could have put the Trump Organization in danger of violating the Foreign Corrupt Practices Act, which bans American companies from bribing foreign officials. Sater says the plan was not meant to entice the Russian president. "You've got to have a billion dollars for [Putin] to take you seriously," he says. "It's good for Congressman [Nancy] Pelosi or [Adam] Schiff to say that, but in the real world, Vladimir Putin ain't getting bought with a penthouse." When contacted, a representative of Putin deflected questions, saying, "We believe that you should address to relevant authorities, not to the press office of the president of Russia."

To Trump small amounts of money matter—the tower agreement details the slices he could shave off every year, including hotel management fees (an estimated $1.3 million), office rents (est. $240,000), residential management fees (est. $225,000), spa operations (est. $75,000) and so on. Add everything up and Forbes figures Trump could have gotten an additional $2.6 million annually—math verified by Sater, who confirmed an Excel spreadsheet that details the projected payments line by line.

Count enough years and it's theoretically possible to get to any number: $13 million over 5 years, $67 million over 25, $94 million over 35. Regardless, even with the condo deals, it wasn't really close to the "hundreds of millions" Cohen and Mueller cited.

R obert Mueller did not find collusion to steal the 2016 election—but he did find evidence of collusion to try to make money. Sater and Cohen did the work on the ground, rubbing elbows with oligarchs and Russian-government entities.

In sworn testimony before Congress, Cohen left no doubt about who was ultimately in charge: "To be clear, Mr. Trump knew of and directed the Trump Moscow negotiations throughout the campaign and lied about it."

There was good reason to lie, given the cast of characters involved. On October 9, 2015, before Trump had even signed the letter of intent, Sater wrote that he was meeting with Andrey Molchanov , a former member of the Russian senate who controlled a plot of land that could work for the tower. Three days later, Sater claimed the chairman of VTB, a Kremlin-controlled bank on which the U.S. imposed sanctions, was "on board" with the project. A spokesperson for VTB said the bank never dealt with Sater or his affiliates in Russia. Ultimately, Sater secured an invitation to Russia from a different bank, days after it had also landed on the U.S. sanctions list.

“You've got to have a billion dollars for [Putin] to take you seriously. It's good for Congressman [Nancy] Pelosi or [Adam] Schiff to say that, but in the real world, Vladimir Putin ain't getting bought with a penthouse.” Felix Sater

Then there was Sater's plan to get billionaire brothers Arkady and Boris Rotenberg to invest hundreds of millions in the project. From a political standpoint, it would be hard to think of a more problematic pair to bring into a deal with a U.S. presidential candidate. Arkady Rotenberg has known Vladimir Putin since childhood, when they were judo partners. He and his brother are now among Russia's richest people, worth an estimated $3.7 billion combined, with interests in banking and construction. Arkady Rotenberg's companies got $7.4 billion in government contracts for the 2014 Olympic Games in Sochi, over $5 billion for the 2018 World Cup (which Russia hosted) and more to build a bridge connecting Russia and Crimea. In 2014, the U.S. Treasury Department sanctioned both brothers, identifying them as members of Putin's "inner circle." The Rotenbergs did not respond to our request for comment.

The same thing that made the Rotenbergs targets of the U.S. government—their ties to Putin—made them appealing to Sater. In his mind, if he could get Putin's associates to invest $400 million or $500 million, then the Russian president would surely greenlight the project—a key step in a country where the government calls the shots on major real estate developments. Trump would have theoretically had to sign off on bringing in the Rotenbergs or anyone else who wanted a piece of the action. "Everybody was going to make money on this," Sater says. "And at the end of the day, some schmuck from Vladivostok with a lot of money would have put up all the money."

It is not clear whether Trump knew about the plans to give Putin a penthouse or his cronies a chunk of the deal. Which is remarkable in itself. A presidential candidate delegated a radioactive deal, in a hostile foreign country, to a former convict (Sater) and a soon-to-be convict (Cohen).

Virtually every part of their plan involved Putin or someone close to him. The equity? Putin's boys. The debt? Kremlin-connected banks. The land? A Putin ally. The approvals? Government entities. The marketing? Putin himself. Look at Trump Moscow long enough and it gives the impression it was less of a deal between Trump and a random Russian and more of a deal between Trump and Putin.

I t also came with a lot of bluster. By December 2015, Trump's men still had not locked in a plot of land. Or financing. Or investors. And Cohen was waiting on an official invitation to Russia. "I will not let you f--- with my job and playing point person," Cohen texted Sater between Christmas and New Year's, according to correspondence first released by Buzzfeed and confirmed by Forbes . "I still have no numbers from anyone who is allegedly involved in this deal, other than the fact I will have whatever invite I need within 48 hours. Not you or anyone you know will embarrass me in front of Mr. T when he asks me what is happening."

Cohen told Sater he was done working with him, and the text stream devolved into something like a souring love affair. "Please don't do this, Michael," Sater wrote.

"We're done," Cohen responded. "Enough. I told you last week that you thinking you are running point in this is inaccurate. You are putting my job in jeopardy and making me look incompetent. I gave you two months and then best you send me is some bull---- f------ garbage invite by some no name clerk at a third-tier bank. So I am telling you enough as of right now. Enough! I will handle this myself."

Kiev Protests. Political turmoil in Ukraine led to a Russian takeover of Crimea, which in turn prompted U.S. sanctions against Putin’s regime. Those measures put a dent in Moscow’s real estate market—and Trump’s potential windfall.

Cohen, who did not respond to a request for comment on this article, reached out to the office of Putin's press secretary, Dmitry Peskov. On January 20, 2016, he heard back from Peskov's assistant. They talked for 20 minutes about a tower in Moscow, and Cohen came away impressed, according to the Mueller report. Cohen updated Trump, remarking that it would be nice if the Trump Organization had assistants who were as good as the Kremlin's, the report says.

Sater texted Cohen the next day. "Call me when you have a few minutes to chat," he wrote. "It's about Putin. They called today."

Money has a way of repairing relationships. Cohen and Sater eventually sketched out plans to travel to Russia. Cohen talked to Trump about it, and the candidate said he would be willing to go as well, so long as Cohen could "lock and load" on the deal, according to the Mueller report. Cohen settled on a rough timeline: "My trip before Cleveland," he texted Sater, referencing the Republican National Convention. "Trump once he becomes the nominee."

On May 5, 2016, Sater followed up with Cohen, offering promising news. "Peskov would like to invite you as his guest to the St. Petersburg Forum, which is Russia's Davos. It's June 16-19. He wants to meet there with you and possibly introduce you to either Putin or [Russian prime minister Dmitry] Medvedev."

But Sater was apparently bluffing. He now says he never actually had an invitation from Peskov, although he was confident he would meet some heavy hitters at the conference. When the Peskov invitation failed to materialize, Cohen called off the trip, according to the Mueller report, and checked in with Trump. But he did not tell the boss the deal was off, since there still seemed to be a chance it could come back to life in the closing months of the campaign. Or possibly afterward, when Trump would return to just being Donald Trump, private citizen.

What ultimately killed Trump Moscow was not all the bluster, nor the ties to Russian oligarchs, nor even the limited financial upside. When asked why the deal ended, in a sworn congressional hearing, Cohen pointed to one part of the plan that went awry: "He won the presidency."

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Top 10 Resort Business Plan Templates with Examples and Samples (Editable Word Doc, Excel and PDF Included)

Samradni Pradhan

There is a deep need for that ideal escape, a haven of peace and renewal, in the hurry and bustle of our daily lives. It's the longing for that one special moment when time seems to stand still and troubles vanish like morning mist. Yes, we're referring to vacations, those valued breaks from daily life that have a mysterious way of mending our souls and reviving our spirits.

But, as any seasoned traveler will tell you, the success of a vacation often hinges on one crucial factor: the choice of the right resort. The perfect resort can transform a good trip into an unforgettable one, while the wrong one can cast a shadow over the sunniest of destinations.

And speaking of meticulous planning, if you're thinking about venturing into the world of resort business ownership, then you're in for an exhilarating journey—one that demands as much care, foresight, and dedication as planning the perfect vacation. It's here that the significance of a well-crafted business plan becomes paramount.

In this blog, we delve deep into why a business plan is your compass to success in the realm of resort ownership and how our well-researched business plan template with real data and insights can help you succeed in your venture.

Best Resort Business Plan Templates

Table of contents.

• Executive Summary
• Company Overview
• Industry Analysis
• Customer Analysis
• Competitor Analysis
• SWOT Analysis
• Porter's Framework
• Operational Plan
• Financial Plan

A resort business is a huge responsibility. One that requires proper planning and analysis. Through this detailed business plan template, we cover the major sections that must be included in your business plan. A total of 64 pages are available when you download this template. Each of these pages is thoughtfully curated to ensure that your best foot is put forward while presenting your business plan. We have made use of the best quality graphics and images so you get the much-needed professional look and feel. For the benefit of this blog, we have focused on the top 10 pages within this template.

Upon downloading, you will get the 64-page Doc, PDF, and XLS files.

1. executive summary.

Your resort's journey begins here, on the Executive Summary template page. This is where you'll articulate the dream that drives you, providing a glimpse of the oasis you're creating. Engage your readers with a captivating snapshot of your resort's unique charm, emphasizing its financial potential. As the resort's visionary, this template empowers you to communicate your passion and ambition persuasively.

In our Executive Summary section, you will get templates for

1.1 The Quick Pitch: Deliver a brief and captivating summary showcasing your resort business's core attractions and amenities.

1.2 The Entity Profile: Offer easily digestible details on your company's structure and profile, designed to pique the interest of potential backers and partners in your resort venture.

Download this business plan

(Do you plan on starting your own hotel industry business or already have one that requires funding or revamping? Why not check out our Hotel Industry Business Plan Template that covers all the relevant information in the most attractive way!)

2. Company Overview

In the Company Overview template, you can sculpt your resort's identity. Unfold the narrative of your resort's inception, its core values, and the enchanting experiences it promises to deliver. This page guides you in weaving a story that differentiates your resort and evokes an emotional connection with potential investors and partners.

In our Company Overview section, you will get templates for:

2.1 Vision and Mission: Craft a compelling mission and vision that drive your resort business forward, shaping its purpose and direction.

2.2 Company Goals and Objectives: Illuminate the precise goals and objectives your resort business endeavors to attain, guiding your path toward accomplishment.

2.3 Start-up Summary: Provide a concise overview of your resort's inception, highlighting its origins, structure, and foundational elements.

2.4 Market Gap Analysis and Business Statement: Pinpoint gaps in the resort market and articulate your unique business statement, establishing your brand as a distinct presence within the industry.

2.5 Services Portfolio: Showcase an extensive array of resort services, illustrating the breadth of your hospitality and tourism industry expertise and offerings.

2.6 Key Success Factors: Define the pivotal factors that will measure the efficacy and triumphs of your beach resort business plan , ensuring a well-defined route to prosperity.

3. Industry Analysis

Dive into the intricate details of the hotel industry with the Industry Analysis template page. Here, you'll dissect the trends, challenges, and opportunities that define this vibrant sector. Equip yourself with the knowledge to steer your resort toward success by understanding the competitive landscape, guest preferences, and emerging market forces.

In our Industry Analysis section, you will get templates for:

3.1 Market Analysis: Dive deep into the resort industry, assessing its current landscape, uncovering potential opportunities, and identifying key players to shape your resort's success.

3.2 Market Trends Tracking: Keep a vigilant eye on industry trends, ensuring your resort stays ahead of the curve and maximizes its appeal to modern travelers.

3.3 Major Challenges and Solutions: Confront and conquer major obstacles, crafting strategic solutions to pave the way for your resort's uninterrupted progress.

3.4 Growth Drivers Identification: Unearth the precise factors and initiatives that will fuel and amplify the growth and prosperity of your resort brand.

3.5 Geographical Market Analysis: Tailor your approach to cater to diverse geographical regions within your target market, guaranteeing seamless expansion and alignment with regional preferences and demands.

4. Customer Analysis

You'll get to know your future guests intimately on the Customer Analysis template page. Explore their demographics, behaviors, and desires, allowing you to tailor your resort's offerings to meet their expectations. This template empowers you to create a customer-centric approach, ensuring every visitor feels like a cherished guest.

In our Customer Analysis section, we offer comprehensive templates for:

4.1 Target Market Definition: Clearly define the specific consumer or business segments your catering service is poised to cater to.

4.2 Buyer Persona Development: Create a comprehensive profile of your ideal customer, offering deep insights into their demographics, preferences, and behaviors to enhance your understanding of their requirements.

4.3 Market Sizing Analysis: Calculate the overall catering market size and evaluate the potential market share for your catering brand, providing valuable insights into the scope of opportunities within your business environment.

5. Competitive Landscape

A competitive landscape is your secret weapon for understanding the strengths and weaknesses of major players in the resort industry . Identify areas in the market and refine your strategies to outshine the competition with the perfect vacation packages . With this template, you'll be equipped to offer unique services and experiences that set your resort on a path to success.

In our Competitive Landscape section, we provide templates for:

5.1 Major Players: Explore the landscape of your catering service sector by identifying and analyzing the prominent competitors and key industry players.

5.2 Attributes Comparison: Conduct a comprehensive analysis comparing the essential attributes and features of various catering products or services available to position our offerings strategically.

6. SWOT Analysis

Conduct a thorough SWOT Analysis using this template to uncover your resort's strengths, weaknesses, opportunities, and threats. This invaluable exercise helps you make informed decisions, capitalize on your advantages, and mitigate potential pitfalls. It's your roadmap for sustainable growth and resilience.

7. Porters Framework

The Porter's Framework template page is your gateway to strategic planning. Delve into the competitive forces in the resort industry, pinpointing areas where you can gain a competitive advantage. Use this template to craft a robust business strategy that ensures your resort thrives in all conditions.

8. Marketing Plan

You'll design a tailored roadmap for attracting guests in the Marketing Plan template page. Develop marketing resort business growth strategies , define your unique selling propositions, and outline promotional tactics to create buzz and allure around your resort.

In our Marketing Plan section, we provide templates for:

8.1 Sales Strategy: Craft a comprehensive plan to achieve your sales goals and objectives within the catering business.

8.2 Promotional Strategy: Clearly define your marketing and promotional strategies to create buzz and brand awareness for your catering venture.

8.3 Pricing Strategy: Detail your pricing approach to strike the perfect balance between profitability and competitiveness in the catering market.

8.4 Sales Funnel Optimization: Map out the customer buying journey, from initial awareness to the final purchase, to streamline and enhance the sales process for your catering products.

9. Operational Plan

The Operational Plan template page allows you to detail the logistics behind running your resort efficiently. Outline staffing requirements, supply chains, and processes to ensure every aspect of your resort functions seamlessly. This template paves the way for exceptional guest experiences.

In our Operational Plan section, we provide templates for:

9.1 Retail Selling Strategy: Map out your all-encompassing strategy for retail catering product sales, shedding light on your sales approach and tactical maneuvers.

9.2 E-commerce Sales Strategy: Navigate the digital commerce landscape with a detailed strategy, including budget allocation and a roadmap for online marketplace success.

9.3 Milestones and Achievements: Illuminate the pivotal operational milestones and noteworthy accomplishments that define your resort business journey, offering a snapshot of your progress and growth.

10. Financial Plan

Lastly, the Financial Plan template page is your key to financial success. Lay out your resort's financial projections, budgets, and funding requirements precisely. Use this template to reassure investors and stakeholders of your resort's long-term viability and profitability.

In our Financial Plan section, we provide templates for:

10.1 Financial Assumptions: Transform your financial assumptions into actionable strategies, shaping the future of your resort venture.

10.2 Revenue Model and Sales Forecast: Shed light on the sources of revenue for your resort business and craft a comprehensive blueprint for its growth.

10.3 Break-Even Analysis: Dive into the pivotal factors steering your resort toward the break-even point, a critical milestone on your path to profitability.

10.4 Projected Profit and Loss Account: Get a clear financial snapshot of your resort's potential by projecting revenues, tracking expenses, and foreseeing overall profitability.

10.5 Projected Cash Flow Statement: Master your resort's liquid finances with a detailed projection of expected cash movements.

10.6 Projected Balance Sheet: Provide an in-depth glimpse into your resort's projected assets, liabilities, and shareholders' equity, ensuring financial transparency.

10.7 Scenario Analysis: Explore various scenarios to gauge how different conditions and risks may impact the financial resilience of your resort venture.

10.8 DCF Valuation: Utilize discounted cash flow analysis to assess the present market value of your resort business, quantifying its worth in the industry.

This is not the end!

A resort business requires a lot of pre-planning and strategizing; in such a situation having your base ready makes your job much easier. That base is provided to you through this business template plan. Simply download the business plan ppt templates and edit all relevant information according to your brand requirements. The template is also available in an easy-to-use format so you can edit faster. What’s more to think, go ahead and grab your template! Create lasting vacations for your consumers, starting today!

FAQs on Resort Business Plan

1) what is a resort business plan.

A resort business plan documents a resort business's goals, vision, and strategies. It has the following sections:

• An executive summary and a brief business plan overview. It highlights the main objectives and points.
• The business overview describes the resort, target market, location, competitive advantages, and legal structure.
• The market analysis section includes research on the industry, customers, and competitors. It also identifies the challenges and opportunities for the resort.
• The last section is resort services and facilities, which list amenities, features, and activities offered to guests by the resort.

2) How do I start planning a resort?

The different steps involved in planning a resort are:

• Develop a business plan outlining your goals, visions, target market, and market strategy.
• A financial model will be required to project the income, cash flow, and expenses.
• The next step would be securing funding from banks, investors, and other sources.
• You will need to research and apply for the necessary permits and licenses.
• Choose a location per your budget and requirements.
• Prepare a customer profile describing your customers and their preferences.
• You should also have a marketing strategy to promote and advertise your resort.
• Get hold of engineers, architects, and contractors to build your resort.

3) Is resort a profitable business?

Whether the resort will be profitable or not depends on several factors. These factors are location, market demand, and hotel management . Resorts in popular tourist destinations are more profitable because those areas are in demand. However, a resort can face challenges if located in a remote location. Cost control, effective management, and good customer service are important for a resort to be profitable. Seasonal fluctuations can also impact profitability. In a resort, amenities like restaurants, pools, and spas attract customers and increase profits. The income should be diversified through weddings, conferences, etc., to get more profit. A well-run resort is always profitable, but market consideration also affects the profits.

4) What is a resort business called?

A resort business is commonly known as a resort. It is a type of business that fulfills the guests' needs or tries to look after the needs of the vacationers inside the premises. A resort has several amenities like swimming pools, sports, shopping, food, drinks, and entertainment with lodging. There are different models of resort business. These include destination resorts, market resorts, and property resorts. The different types of resorts are decided depending on their size, location, and amenities offered to the guests. 

5) How much land is needed to build a resort?

The amount of land needed for a resort depends on several factors: the scale of the resort, its location, and the facilities and amenities the resort plans to offer. Smaller resorts may need a few acres, while on the other hand, bigger resorts may require hundreds of acres. Island or coastal resorts need beachfront property, while mountain or forest resorts need a large expanse of land for hiking and outdoor activities. The resort will need lots of land if it has golf courses, spas, and other extensive amenities. Ultimately, the land requirement will completely depend on the resort's requirements, concepts, and target market.

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Welcome to Vandal/Coug Territory FairBridge Inn & Suites Moscow / Pullman

Formerly the Super 8 Hotel

To our valued guests at FairBridge Inn & Suites - Moscow/Pullman;

whether you are here to cheer on your favorite collegiate team, reconnect with your college student, or further your business ventures, we want you to know that choosing to stay with us means so much more to us than just a business transaction. It means that you have entrusted us with a part of your journey, and we are truly honored to be a part of it.

FairBridge Inn & Suites - Moscow/Pullman

FairBridge Inn & Suites - Moscow/Pullman is walking distance  to the University of Idaho Vandals and 7 short miles to Pullman, Washington - home of Washington State University Cougars.  The FairBridge Inn brings comfortable overnight lodging with enhanced business amenities such as:  recliners chairs and fiber optics wireless internet. Surrounded by restaurants, fast food and convenient stores for your convenience.

The FairBridge Inn & Suites -  Moscow/Pullman is a perfect choice for your lodging needs.  Situated on Highway 3, Pullman/Moscow Highway and surrounded by convenient stores, restaurants and fast food eateries.  

Going to the big game?  Walk across to the Kibbie Dome at University of Idaho or take a short 7 mile drive to Cougar Territory.  

Start your day off right with a hearty hot breakfast, catch up on emails or family chat with fiber optics internet and relax in the evening in a plush recliner chair.   For those pet lovers, we have a large gated dog run to exercise your furry family member.

Located adjacent to Arbys and the University of Idaho, 3 blocks from the Palouse Mall and Walmart.  Nearby there are eateries, 

golf, a recreation center, and Main Street shopping. 

100% Satisfaction Guaranteed

Whether this is your first visit, or you have been a guest many times, we want your experience to be excellent. Our staff is always available to help with any questions or concerns you may have. 

Signature Room Types

2 queen bedroom, business queen room.

 2 Pillowtop Queen Mattresses, Free high-speed WiFi, free hot breakfast, mini-refrigerator, microwave, coffee maker, hair dryer, office work desk

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1 Pillowtop King Mattresses, Recliner chair, Free high-speed WiFi, free hot breakfast, mini-refrigerator, microwave, coffee maker, hair dryer, office work desk

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1 Pillowtop King mattress with separate living room with sofa sleeper, Free high-speed WiFi, free hot breakfast, mini-refrigerator, microwave, coffee maker, hair dryer, office work desk plus table and 2 chairs

3 Pillowtop Queen Mattresses, Office work desk, table with 3 chairs. Free high-speed WiFi, free hot breakfast, mini-refrigerator, microwave, coffee maker.

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Hotel Four Seasons Hotel Moscow

THE LEGEND OF MOSCOW ON THE DOORSTEP OF THE KREMLIN

Steps from the Kremlin and Red Square in Moscow’s heart, the historic legacy gets a contemporary spin at Four Seasons Hotel Moscow. Discover a bold reimagining of the legendary 1930s-era Hotel Moskva at our modern legend that puts destination dining and decadent spa treatments in the spotlight.

Invite your guests for a one-of-a-kind experience at a Moscow landmark. A modern rendition of the legendary Hotel Moskva, our Hotel is in Manezhnaya Square, just steps from the Kremlin. Whether you’re planning a conference, a state banquet or a can’t-miss social event, let our talented team bring your event to life in one of our glamorous, light-filled venues.

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Resort Business Plan Template [Updated 2024]

Resort Business Plan Template

If you want to start a resort or expand your resort business, you need a business plan.

The following Resort business plan template gives you the key elements to include in a winning Resort business plan. It can be used to start an all inclusive resort, a ski resort, a health spa resort, an eco tourism resort, or any other type of resort business.

You can download our Resort Business Plan Template (including a full, customizable financial model) to your computer here.

Resort Business Plan Sample

I. executive summary, business overview.

[Company Name], located in [insert location here] is a new resort company that focuses on providing guests with personalized customer service and modern, high-tech amenities. The resort is located in an idyllic location where guests can experience a tranquil nature walk or a rigorous river rafting adventure. [Company Name] aims to be the ultimate choice for customers looking for exceptional service, high-tech amenities, and picturesque views.

Products Served

[Company Name] will provide a full suite of resort amenities, all featuring the latest digital technology for streamlined customer service and convenience.

Amenities include the following:

• Retail Shops
• Tennis Courts
• Swimming Pool
• Hiking & Nature Tours
• River Rafting

Customer Focus

[Company Name]’s potential customers include tourists traveling to [Location] from nearby countries. A secondary target will be local residents looking for a unique stay-cation experience. The demographics of these customers are as follows:

• An estimated 50,000 tourists travel to [Location] each year
• Average income of $46,000
• 35% are Gen Z, 40% are millennials, and 25% are baby boomers
• 42% are in management or professional occupations
• Median age: 35 years

Management Team

[Company Name] is led by [Founder’s Name] who has been in the resort industry for over 20 years. While [Founder] has never developed a resort from the ground up, he has worked most recently as a general manager of a large resort, and has held various management level positions in the industry over the years. [Founder] has a Master’s degree in Hospitality Management, and will use his expertise and experience to start his own resort.

Success Factors

[Company Name] is uniquely qualified to succeed due to the following reasons:

• There is currently no full-scale resort in the area, although it is an in-demand tourist destination. In addition, the founder has surveyed the local businesses and determined that they have frequent tourists visiting who would use the company’s resort when launched.
• The location is close to major highways, local attractions, and the airport.
• The management team has a track record of success in the resort industry.
• XYZ and ABC corporations announced plans to create new attractions in the city over the next two years and existing resorts will not be able to handle the increased capacity of visitors traveling to the city to visit these attractions.

Financial Highlights

[Company Name] is currently seeking $7,000,000 to launch.

Specifically, these funds will be used as follows:

• Resort design/build: $6,500,000
• Working capital: $500,000 to pay for marketing, salaries, and land costs until [Company Name] reaches break-even

Top line projections over the next five years are as follows:

II. Company Overview

Who is [company name].

[Company Name], located in [Location] is a new resort company that focuses on providing guests with personalized customer service and modern, high-tech amenities. The resort is located in an idyllic location that is close to major highways, local attractions, and an airport. Guests of the resort can experience a tranquil nature walk or a rigorous river rafting adventure. [Company Name] aims to be the ultimate choice for customers looking for exceptional service, high-tech amenities, and picturesque views.

[Company Name] was founded by [Founder’s Name], an experienced resort manager who has been working in various management-level positions in the industry for over 20 years. [Founder] has a Master’s degree in Hospitality Management, and will use his expertise and experience to start his own resort. [Founder] discovered the ideal location for his resort during a recent trip to [Location]. When he saw the opportunity for a full-scale resort in a growing tourist destination, he decided to start researching what it would take to build his company here.

As [Founder] began researching what it would take to create his own resort company, he did a thorough analysis on the costs, market, demographics, and competition. [Founder] has compiled enough information to develop his business plan in order to approach investors.

[Company Name]’s History

Once his market analysis was complete, [Founder’s Name] incorporated [Company Name] as an S-Corporation on [date of incorporation].

The resort development operations are currently being run out of [Founder’s Name] home office. Once the land rights have been purchased, operations will be run from an on-site location to ensure that every detail is being thought out and completed.

Since incorporation, the Company has achieved the following milestones:

• Found site location and signed the land deed purchasing rights to the land
• Developed the company’s name, logo, and website located at [website]
• Hired an architecture firm to create a blueprint of the resort
• Started taking bids from construction crews and electrical engineering firms
• Determined equipment leasing and financing requirements
• Began recruiting key employees with experience in the resort industry

[Company Name]’s Products/Services

Below are [Company Name]’s product offerings:

The state-of-the-art resort will offer guests the opportunity to take advantage of the following amenities:

III. Industry Analysis

The global hotel and resort industry is valued at approximately $1.06T with more than 700,000 hotels and resorts operating worldwide. This industry includes operators of hotel and resort accomodations, restaurants and meal service, and franchises. Primary industry activities include operating holiday resorts and hotels with private facilities.

Demand determinants for the hotel and resort industry include economic conditions, disposable income levels, and consumer preferences regarding hospitality and leisure spending. Over the past few years consumer preferences have been shifting significantly. Customers are now looking for more personalized service, business-leisure opportunities, health and wellness accommodations, and digital guest experiences.

The hotel and resort industry is highly fragmented with intense competition from major players to single-location operators. Small resort businesses can compete in a variety of ways, however. Industry operators that offer a unique niche, affordable prices, in-demand location, and amenities that appeal to the modern consumer can run a competitive resort business.

IV. Customer Analysis

Demographic profile of target market.

[Company Name] will serve the tourists visiting [company location] and its surrounding areas as well as locals who want a stay-cation experience.

The community of [company location] is quickly becoming a popular tourist destination with people coming in from nearby countries to experience the new attractions the region has to offer. Additionally, there are many local residents looking for a new recreating experience and a large percentage of the population has expressed interest in a stay-cation option.

Customer Segmentation

The Company will primarily target the following three customer segments:

• Leisure Travel Market: Travelers to [Insert Area or City] tourist attractions such as the Museum of Fine Art and the Annual Film Festival, as well as visitors to social events such as weddings.
• International Tourists: Last year, there were over 903 million international tourist arrivals worldwide, with a growth of 6.6%. International tourist receipts were $856 billion.
• Local Residents: There are a total of 10,000 local residents in [Area]. Approximately 43% are actively involved in many of the recreational activities the resort will offer such as hiking and river rafting.

V. Competitive Analysis

Direct & indirect competitors.

The company’s competition are other resort companies.

River Springs River Springs is a hotel in [location]. River Springs is a leading hotel and has been in business for over 40 years. The hotel offers a wide array of services and amenities that you typically find at a hotel. River Springs offers luxury accommodations, river rafting tours, and a five-star restaurant and lounge. River Springs is the current most popular choice for tourists in the area because of its proximity to the airport and local attractions such as the Fine Art Museum and movie theater.

This hotel does not have full-service resort amenities, however. Nor does it have the latest digital technology for any of its services or room accommodations.

Super Adventure Resort Super Adventure Resort is the closest resort, located approximately 50 miles outside of [Area or City]. This resort specializes in providing wildlife adventure tours. The property has a variety of amenities including a hotel, spa, pool, restaurant, bar, gift shop, and its primary source of entertainment; the adventure tours.

Super Adventure Resort is far from any other local attractions, the airport, or any other modern conveniences such as grocery stores or gas stations, making it an out-of-the-way getaway, but not conveniently located.

Sunny Falls Hotel Sunny Falls Hotel is also a local hotel that has a few resort-style amenities such as a spa, salon, and fitness center in addition to its traditional hotel accommodations, restaurants, bar, lounge, pool, tennis courts, and free transportation to and from the airport. Sunny Falls Hotel is located close to a variety of local attractions and scenic overlooks. Guests can go hiking or bicycling on trails nearby or book a river rafting tour with a hotel concierge.

While Sunny Falls Hotel has many appealing accommodations, it lacks the modern technology, full-service amenities, and additional attractions [Company Name] will provide.

Competitive Advantage

[Company Name] enjoys several advantages over other resort companies. Those advantages include:

• Location : [Company Name]’s location gives the best access to the airport, local attractions, shopping district, and restaurants. The Company also offers adequate parking making it easy for customers to relax upon arrival.
• High-Tech Amenities : The resort will be full of high-tech amenities for everything from contactless check-in and payment systems, to smart fixtures in the hotel rooms and a high-tech bar and nightclub.
• Management : The management team has years of resort industry experience that allows the Company to market and serve customers in the same manner as its most sophisticated competitors.
• Relationships : Having visited the community for a number of years, [Founder’s Name] knows all of the local leaders, newspapers and other influences. As such, it will be relatively easy to build the brand awareness of the resort.

VI. Marketing Plan

[Company Name] seeks to position itself as a source of exceptional service, high-tech amenities, and unique attractions in the resort industry. Consumers can expect to receive the best resort experience catered by experienced hospitality professionals.

The [Company Name] Brand

The [Company Name] brand will focus on the Company’s unique value proposition:

• Convenient location close to local attractions, major highways, and the airport
• Modern, high-tech amenities
• Exceptional personalized customer service

Promotions Strategy

[Company Name] expects its target market to be tourists visiting [Location]. The Company’s promotion strategy to reach these individuals includes:

Social Media [Company Name] will invest heavily in a social media advertising campaign. The brand manager will create the Company’s social media accounts and invest in ads on all social media platforms. It will use targeted marketing to appeal to the target demographics.

Website/SEO [Company Name] will invest heavily in developing a professional website that displays all of the features and benefits of the resort. It will also invest heavily in SEO so that the brand’s website will appear at the top of search engine results.

Phone Prospecting [Company Name] will assign salespeople to contact area corporations to arrange for bulk corporate rates for their visitors depending on the volume of visitors they will have.

Public Relations The Company will contact all local and regional area newspapers and television stations to tell them about the hotel opening and unique value proposition of [Company Name].

Advertising [Company Name] will initially advertise on travel websites, which are frequently being used to book travel due to their ease of use and reviews.

Ongoing Customer Communications [Company Name] will publish a monthly email newsletter to tell new and past customers about promotions and events.

Pre-Opening Events Before opening the resort, [Company Name] will organize pre-opening events designed for prospective international customers, local customers, and press contacts. These events will create buzz and awareness for [Company Name] in the area.

Pricing Strategy

[Company Name]’s pricing will fluctuate based on the season and occupancy percentages using a computerized yield management system, but pricing will always place the hotel in the mid-range, below luxury offerings, and above hotels and motels in the area that cannot be billed as a resort. Customers will feel they receive great value when they choose the resort for their vacation.

VII. Operations Plan

Functional roles.

In order to execute on [Company Name]’s business model, the Company needs to perform many functions including the following:

Administrative Functions

• General & Administrative functions including legal, marketing, bookkeeping, etc.
• Sourcing and storing supplies for the various resort amenities
• Hiring and training staff

Service Functions

• Check-in focused on customer service
• Janitor/maintenance personnel to keep the resort clean and in working order
• Staff to work in the hotel, restaurant, bar, nightclub, etc.
• Resort concierge service

VIII. Management Team

Management team members.

[Company Name] is led by [Founder’s Name] who has been in the resort industry for over 20 years. While [Founder] has never developed a resort from the ground up, he has worked most recently as a general manager of a large resort, and has held various management level positions in the industry. [Founder] has a Master’s degree in Hospitality Management, and will use his expertise and experience to start his own resort.

Hiring Plan

[Founder] will serve as the Owner and President of [Company Name]. In order to launch, he needs to hire the following personnel:

Housekeeping staff for the hotel (5 to start)

• Resort Managers (1 for each section of the resort – hotel, restaurant, bar, nightclub, etc.) who will be responsible for the day to day operations of their designated area
• Assistant Managers (will manage resort operations for their designated area on nights and weekends)
• Service Staff (4 full-time to work check-in and guest services – allowing for at least 1 staff person to be on duty at all times as well as additional staff for each of the resort’s features)
• Sales Staff (2 full-time) will target and book guests
• Legal, Bookkeeping, and other Administrative functions (3 staff)
• Brand manager: 1 full-time employee who will be responsible for developing and launching the brand; manage the website, and social media accounts.
• Janitorial and Maintenance staff: 5 employees who will be responsible for keeping the resort in tip-top condition.

IX. Financial Plan

Revenue and cost drivers.

[Company Name]’s revenues will come primarily from booking fees for the resort’s many amenities. The company will charge varying rates per night based on demand and seasonality. [Company Name] will also sell multiple packages to appeal to a range of guests, such as a health and wellness package, nature adventure package, and stay-cation package.

The land purchase, equipment, supplies, and labor expenses will be the key cost drivers of [Company Name]. The major cost drivers for the company’s operation will consist of:

• Resort maintenance
• Business Insurance
• Mortgage on land and utilities

Ongoing marketing expenditures are also notable cost drivers for [Company Name].

Capital Requirements and Use of Funds

[Company Name] is currently seeking $7,000,000 of debt capital to open its resort. The capital will be used for funding capital expenditures and resort build-out, hiring initial employees, marketing and branding expenses, and working capital.

Key Assumptions

  5 Year Annual Income Statement

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Alex Kasprak is an investigative journalist and science writer reporting on scientific misinformation, online fraud, and financial crime.

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MoSCoW Prioritization

What is moscow prioritization.

MoSCoW prioritization, also known as the MoSCoW method or MoSCoW analysis, is a popular prioritization technique for managing requirements. 

  The acronym MoSCoW represents four categories of initiatives: must-have, should-have, could-have, and won’t-have, or will not have right now. Some companies also use the “W” in MoSCoW to mean “wish.”

What is the History of the MoSCoW Method?

Software development expert Dai Clegg created the MoSCoW method while working at Oracle. He designed the framework to help his team prioritize tasks during development work on product releases.

You can find a detailed account of using MoSCoW prioritization in the Dynamic System Development Method (DSDM) handbook . But because MoSCoW can prioritize tasks within any time-boxed project, teams have adapted the method for a broad range of uses.

How Does MoSCoW Prioritization Work?

Before running a MoSCoW analysis, a few things need to happen. First, key stakeholders and the product team need to get aligned on objectives and prioritization factors. Then, all participants must agree on which initiatives to prioritize.

At this point, your team should also discuss how they will settle any disagreements in prioritization. If you can establish how to resolve disputes before they come up, you can help prevent those disagreements from holding up progress.

Finally, you’ll also want to reach a consensus on what percentage of resources you’d like to allocate to each category.

With the groundwork complete, you may begin determining which category is most appropriate for each initiative. But, first, let’s further break down each category in the MoSCoW method.

Start prioritizing your roadmap

Moscow prioritization categories.

1. Must-have initiatives

As the name suggests, this category consists of initiatives that are “musts” for your team. They represent non-negotiable needs for the project, product, or release in question. For example, if you’re releasing a healthcare application, a must-have initiative may be security functionalities that help maintain compliance.

The “must-have” category requires the team to complete a mandatory task. If you’re unsure about whether something belongs in this category, ask yourself the following.

If the product won’t work without an initiative, or the release becomes useless without it, the initiative is most likely a “must-have.”

2. Should-have initiatives

Should-have initiatives are just a step below must-haves. They are essential to the product, project, or release, but they are not vital. If left out, the product or project still functions. However, the initiatives may add significant value.

“Should-have” initiatives are different from “must-have” initiatives in that they can get scheduled for a future release without impacting the current one. For example, performance improvements, minor bug fixes, or new functionality may be “should-have” initiatives. Without them, the product still works.

3. Could-have initiatives

Another way of describing “could-have” initiatives is nice-to-haves. “Could-have” initiatives are not necessary to the core function of the product. However, compared with “should-have” initiatives, they have a much smaller impact on the outcome if left out.

So, initiatives placed in the “could-have” category are often the first to be deprioritized if a project in the “should-have” or “must-have” category ends up larger than expected.

4. Will not have (this time)

One benefit of the MoSCoW method is that it places several initiatives in the “will-not-have” category. The category can manage expectations about what the team will not include in a specific release (or another timeframe you’re prioritizing).

Placing initiatives in the “will-not-have” category is one way to help prevent scope creep . If initiatives are in this category, the team knows they are not a priority for this specific time frame. 

Some initiatives in the “will-not-have” group will be prioritized in the future, while others are not likely to happen. Some teams decide to differentiate between those by creating a subcategory within this group.

How Can Development Teams Use MoSCoW?

  Although Dai Clegg developed the approach to help prioritize tasks around his team’s limited time, the MoSCoW method also works when a development team faces limitations other than time. For example: 

Prioritize based on budgetary constraints.

What if a development team’s limiting factor is not a deadline but a tight budget imposed by the company? Working with the product managers, the team can use MoSCoW first to decide on the initiatives that represent must-haves and the should-haves. Then, using the development department’s budget as the guide, the team can figure out which items they can complete. 

Prioritize based on the team’s skillsets.

A cross-functional product team might also find itself constrained by the experience and expertise of its developers. If the product roadmap calls for functionality the team does not have the skills to build, this limiting factor will play into scoring those items in their MoSCoW analysis.

Prioritize based on competing needs at the company.

Cross-functional teams can also find themselves constrained by other company priorities. The team wants to make progress on a new product release, but the executive staff has created tight deadlines for further releases in the same timeframe. In this case, the team can use MoSCoW to determine which aspects of their desired release represent must-haves and temporarily backlog everything else.

What Are the Drawbacks of MoSCoW Prioritization?

  Although many product and development teams have prioritized MoSCoW, the approach has potential pitfalls. Here are a few examples.

1. An inconsistent scoring process can lead to tasks placed in the wrong categories.

  One common criticism against MoSCoW is that it does not include an objective methodology for ranking initiatives against each other. Your team will need to bring this methodology to your analysis. The MoSCoW approach works only to ensure that your team applies a consistent scoring system for all initiatives.

Pro tip: One proven method is weighted scoring, where your team measures each initiative on your backlog against a standard set of cost and benefit criteria. You can use the weighted scoring approach in ProductPlan’s roadmap app .

2. Not including all relevant stakeholders can lead to items placed in the wrong categories.

To know which of your team’s initiatives represent must-haves for your product and which are merely should-haves, you will need as much context as possible.

For example, you might need someone from your sales team to let you know how important (or unimportant) prospective buyers view a proposed new feature.

One pitfall of the MoSCoW method is that you could make poor decisions about where to slot each initiative unless your team receives input from all relevant stakeholders. 

3. Team bias for (or against) initiatives can undermine MoSCoW’s effectiveness.

Because MoSCoW does not include an objective scoring method, your team members can fall victim to their own opinions about certain initiatives. 

One risk of using MoSCoW prioritization is that a team can mistakenly think MoSCoW itself represents an objective way of measuring the items on their list. They discuss an initiative, agree that it is a “should have,” and move on to the next.

But your team will also need an objective and consistent framework for ranking all initiatives. That is the only way to minimize your team’s biases in favor of items or against them.

When Do You Use the MoSCoW Method for Prioritization?

MoSCoW prioritization is effective for teams that want to include representatives from the whole organization in their process. You can capture a broader perspective by involving participants from various functional departments.

Another reason you may want to use MoSCoW prioritization is it allows your team to determine how much effort goes into each category. Therefore, you can ensure you’re delivering a good variety of initiatives in each release.

What Are Best Practices for Using MoSCoW Prioritization?

If you’re considering giving MoSCoW prioritization a try, here are a few steps to keep in mind. Incorporating these into your process will help your team gain more value from the MoSCoW method.

1. Choose an objective ranking or scoring system.

Remember, MoSCoW helps your team group items into the appropriate buckets—from must-have items down to your longer-term wish list. But MoSCoW itself doesn’t help you determine which item belongs in which category.

You will need a separate ranking methodology. You can choose from many, such as:

• Weighted scoring
• Value vs. complexity
• Buy-a-feature
• Opportunity scoring

For help finding the best scoring methodology for your team, check out ProductPlan’s article: 7 strategies to choose the best features for your product .

2. Seek input from all key stakeholders.

To make sure you’re placing each initiative into the right bucket—must-have, should-have, could-have, or won’t-have—your team needs context. 

At the beginning of your MoSCoW method, your team should consider which stakeholders can provide valuable context and insights. Sales? Customer success? The executive staff? Product managers in another area of your business? Include them in your initiative scoring process if you think they can help you see opportunities or threats your team might miss. 

3. Share your MoSCoW process across your organization.

MoSCoW gives your team a tangible way to show your organization prioritizing initiatives for your products or projects. 

The method can help you build company-wide consensus for your work, or at least help you show stakeholders why you made the decisions you did.

Communicating your team’s prioritization strategy also helps you set expectations across the business. When they see your methodology for choosing one initiative over another, stakeholders in other departments will understand that your team has thought through and weighed all decisions you’ve made. 

If any stakeholders have an issue with one of your decisions, they will understand that they can’t simply complain—they’ll need to present you with evidence to alter your course of action.  

Related Terms

2×2 prioritization matrix / Eisenhower matrix / DACI decision-making framework / ICE scoring model / RICE scoring model

Prioritizing your roadmap using our guide

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All rights reserved.  |   |   |   |   |   |   |   |   | 7-812-303-8647 A Comprehensive Guide: Crafting a Business Plan for a Resort Business By alex ryzhkov, get full bundle. $169$99 $59$39 $39$29 $15$9 $25$15 $15$9 $15$9 $19 Welcome to the world of resort business! According to a recent report, the global luxury resort market is expected to reach $22.8 billion by 2024, with a compound annual growth rate of 12.3%. This means there is a huge opportunity for you to capitalize on the growing demand for luxurious vacation experiences. But, before you can open your doors to guests, you need a solid business plan. Related Blogs What Are The Top 9 Business Benefits Of Starting A Resort Business? What Are Nine Methods To Effectively Brand A Resort Business? Buy or Acquire Resort Biz: Essential Checklist! Resort Owner Earnings: A Comprehensive Guide Your Step-by-Step Guide to Opening a Resort: Checklist Inside 7 Top KPIs for Enhancing Resort Business Performance Key Operating Costs for Resort Owners Score Funds for Your Resort: Perfect Pitch Deck Strategies How to Increase Revenue at Resorts: Key Profit Strategies The Ultimate Guide to Financing Your Resort Business Revamp Your Resort's Success: Boost Sales & Profitability with These Winning Strategies How To Sell Resort Business in 9 Steps: Checklist What Are The Essential Costs To Start A Resort Business? Valuing a High-End Resort: Guidelines How to Enjoy a Resort Vacation with No Money: The Ultimate Guide Writing a business plan for a luxury resort can be quite daunting, but it's an essential step towards turning your dream into a reality. To help you streamline the process, we've put together a 9-step checklist that covers everything you need to consider when creating your business plan. Step 1: Conduct Market Research Step 2: Determine Target Market Step 3: Analyze Competition Step 4: Define Unique Selling Proposition Step 5: Determine Capital and Financing Needs Step 6: Establish Company Structure and Legal Requirements Step 7: Choose Location Step 8: Create Preliminary Marketing Plan Step 9: Develop Operations Plan By following these steps, you'll have a comprehensive business plan that will help you secure funding, attract guests, and deliver a luxurious vacation experience. Conduct Market Research Before starting a business plan, conducting market research is essential. This research involves gathering data to understand the trends, habits, preferences, and needs of potential customers. This information will help in making informed decisions about the resort's services, amenities, and promotions. There are two types of market research: primary and secondary. Primary research involves collecting new data directly from customers through surveys, interviews, focus groups, and customer feedback. Secondary research, on the other hand, entails collecting existing data from sources such as government reports, industry publications, and online sources. Start by identifying the resort's target market and the type of guests that the resort is likely to attract. This includes their demographics, psychographics, and behaviors. Define the resort's geographical market and determine the best location based on proximity to attractions, accessibility, and other factors that may draw guests to the resort. Use a mix of online and offline methods to gather data. Tips for Conducting Effective Market Research Go beyond online research: Although online research is useful, it may not give you the whole picture. Interacting with potential customers face-to-face and gathering their opinions can provide valuable insight. Be objective: As much as possible, avoid allowing your own subjective opinion to influence your research. Invest in reliable research tools: Using reliable and valid research tools will help in collecting accurate data. After gathering useful data, use the information to develop a comprehensive business plan covering everything from the resources required to the marketing strategies to adopt. Resort Financial Model Get Template Determine Target Market One of the most important aspects of creating a successful business plan for a resort is determining your target market . This will help you understand who your ideal guests are and what they are looking for in a luxury resort. Start by breaking down your target market into specific segments. Consider factors such as age, income level, geographic location, and interests. This will help you create a more detailed profile of your target audience. Another important factor to consider is the seasonality of your target market. Will your resort attract visitors year-round, or will it be more popular during specific seasons? Consider surveying potential guests to gather data on their interests, preferences, and travel habits. Research industry trends and demographic data to better understand your target market. Once you have a clear understanding of your target market, use this information to guide your marketing efforts. Develop messaging that speaks to their interests and needs, and consider offering tailored packages and promotions to attract their business. Remember, your target market will inform many of your business decisions, from the amenities you offer to the location of your resort. Keep this in mind as you move forward with your business plan and continue to refine your marketing and operational strategies over time. Analyze Competition Analyzing competition is a vital step to ensure the success of your resort. Doing so will help you identify the strengths and weaknesses of your competitors, as well as discover the opportunities and threats present in the market. To start with , conduct a comprehensive research on your competitors. Find out how many resorts are in the area, what their prices and amenities are, and what their target market is. Once you have a good understanding of your competitors, create a SWOT analysis that will help you identify their strengths, weaknesses, opportunities, and threats. This analysis will give you a clear picture and a better understanding of how you can differentiate your resort from the others. Visit your competitors as a mystery shopper to experience their services and amenities firsthand. Identify what sets your resort apart from others and make sure to highlight it in your marketing materials. Create a detailed competitive matrix that compares your resort's features, amenities, and pricing to that of your competitors. Based on the results of your research and SWOT analysis, create a strategy that emphasizes your unique selling proposition. Your goal should be to offer something that your competitors are not providing or something they don't do well. Lastly, , keep a close watch on your competitors. Continuously monitor their activities and modify your plans accordingly to stay ahead of the game. By taking these steps to analyze the competition, you'll be able to make informed decisions that will help you create a successful resort that stands out in the market. Define Unique Selling Proposition Defining your unique selling proposition or USP is a crucial step in creating a business plan for a luxury resort. Your USP is what sets you apart from your competitors and attracts your target market. It is the reason why guests would choose your resort over others, and what makes your resort stand out in a crowded market. Start by identifying your resort's core values, mission, and vision. These elements will help you define your USP. Ask yourself what makes your resort different from others, why guests should choose your resort, and what you offer that nobody else can. Think of unique amenities or services that you can offer at your resort. Consider any special events or activities that your resort can organize. Research your competition and see what sets them apart from their competitors. For instance, your luxury resort may offer exceptional service by providing personal butlers to guests. You may also provide unique spa packages that feature exotic treatments or use organic and locally-sourced ingredients. Additionally, your resort may provide exclusive access to nearby attractions, such as horseback riding expeditions, private yacht tours, or authentic cultural experiences that guests cannot find elsewhere. Your USP should be highlighted on your resort's website, social media platforms, and in your marketing materials. It should communicate to your target market the benefits of choosing your resort, and what makes you different from the competition. Defining your resort's unique selling proposition takes time and effort. It requires researching your target market, analyzing your competition, and understanding the trends and changes in the hospitality industry. But once you define your USP, you can use it as a foundation for your marketing, branding, and operations, and help your resort stand out from the crowd. Determine Capital and Financing Needs One of the most important aspects of starting a resort is determining how much capital is needed to get the business off the ground, as well as how to finance it. This step requires careful consideration and research to avoid under- or overestimation of the costs. Start by estimating all the costs involved in building the resort, including land acquisition, construction of buildings and facilities, buying equipment and furniture, and hiring staff. Then add a contingency fund to ensure there is sufficient capital for unexpected costs or delays. Once you have determined the total amount needed, the next step is to explore financing options. Some of the most common options include: Crowdfunding Government loans and incentives Each option has its advantages and disadvantages, and it's important to research and compare before making a decision. It's also a good idea to consult with a financial advisor or attorney to ensure the financing plan is feasible and legal. Be realistic when estimating costs. It's better to overestimate than to underestimate and not have enough funds. Explore multiple financing options and compare the pros and cons before making a decision. Consult with a financial advisor or attorney to ensure the financing plan is feasible and legal. Consider offering incentives for investors or contributors, such as discounts on resort services or special events. Overall, determining the capital and financing needs of a resort can be a complex and time-consuming process, but it's crucial to the success of the business. By carefully estimating costs and researching financing options, resort owners can create a solid financial plan to achieve their goals. Establish Company Structure And Legal Requirements When starting any business venture, it's important to establish the proper company structure . This determines your business's legal status, ownership structure, and tax implications. As a resort owner, you can choose to set up your business as a sole proprietorship, partnership, limited liability company (LLC), or corporation. Each structure has its own unique benefits and drawbacks, so make sure to research your options thoroughly. Once you've determined your company structure, you'll need to file the proper legal requirements . This includes registering your business with the appropriate state and local government agencies, obtaining any necessary licenses and permits, and securing any required insurance policies. Failure to do so can result in fines, legal liability, and even the closure of your business. Consult with a lawyer or accountant to help you determine the best company structure for your resort. Research all the legal requirements in your state or country to ensure you comply with them. Make sure to obtain appropriate insurance coverage to protect your business from liability. Keep all important legal documents organized and in a safe place. Another important consideration when establishing your company structure is ownership and management . Determine who will be the owners and operators of your resort, as well as the roles and responsibilities of each person. This includes setting up agreements and contracts that outline the terms of any partnerships or collaborations between owners and operators. Finally, it's important to establish a clear financial plan that takes into account your capital and financing needs. This includes creating a budget, determining how you will fund your resort, and accounting for any expected expenses such as maintenance, marketing, and staffing costs. By carefully considering your company structure and legal requirements, you can set your luxury resort up for long-term success and avoid any legal issues or complications down the line. Choose Location Choosing the perfect location for your luxury resort is one of the most crucial aspects to consider when writing a business plan. The location you choose will determine the type of guests you attract, the competition you face, and the overall success of your resort. Location Factors: Consider the following factors when choosing your resort's location: Geographical location and accessibility Proximity to natural attractions, like beaches, mountains, or natural reserves Availability of necessary resources, like clean water, electricity, and internet access Local economy and demographic trends, including population growth and tourism rates Potential for expansion and development Research local zoning laws and regulations to ensure that your resort will comply with local laws. Consider the environmental impact of your resort and its facilities. Partner with local businesses to create mutually beneficial relationships and attract more guests. Competition: Analyze the competition in your chosen location. Consider the number and quality of similar resorts, as well as any niche markets that your resort could fill. Accessibility: Consider the accessibility of your chosen location. Ensure that guests can easily reach your resort by plane, car, or other modes of transportation. Accessible locations make it easier to attract guests and turn them into repeat customers. Location Cost: Consider the cost of the location, including both the purchase or lease costs and any associated maintenance and renovation costs. Ensure that your budget can handle all of these expenses, and that your projected profits can cover the costs of running the resort. Choosing the right location for your luxury resort may take time, research, and consideration, but it is an investment that will determine the overall success of your business. Create Preliminary Marketing Plan Once you have defined your unique selling proposition and determined your target market, it is time to create a preliminary marketing plan. This plan should outline your strategies for building brand awareness and attracting guests to your luxury resort. Here are some important steps to take: Partner with local businesses and attractions to create attractive vacation packages for guests. Host exclusive events and activities at your resort to create buzz and attract influencers and media attention. Consider offering discounts or special promotions to guests who book directly through your website or social media channels. Creating a preliminary marketing plan will help you establish a strong brand identity and attract guests to your luxury resort. Remember to regularly evaluate the effectiveness of your marketing strategies and make adjustments as needed. Develop Operations Plan The operations plan is a crucial part of your business plan, as it outlines how you will run your resort on a day-to-day basis. It covers everything from staffing and daily tasks to inventory management and customer service. A solid operations plan will ensure your guests have an exceptional experience, while also keeping your resort running smoothly. Staffing: One of the most important aspects of your operations plan is staffing. You'll need to determine how many employees you'll need, what roles they'll fill, and what qualifications and experience they'll need. For a luxury resort, you'll likely need a mix of front-line staff, such as receptionists and waitstaff, as well as specialized staff, such as chefs and spa therapists. Be sure to hire staff who are passionate about hospitality and guest service. Invest in ongoing training and development for your employees to ensure they have the skills they need to provide exceptional service. Inventory Management: Another key aspect of your operations plan is inventory management. You'll need to keep track of your resort's supplies, such as linens, toiletries, and food and beverage, to ensure you always have what you need on hand. You'll also need to establish processes for ordering and restocking inventory, and for ensuring that any wasted or spoiled items are disposed of properly. Invest in technology such as inventory management software to streamline this process. Train your employees on proper inventory management practices to minimize waste and maximize efficiency. Customer Service: Providing exceptional customer service is a cornerstone of any successful resort. Your operations plan should outline the processes and protocols for ensuring your guests receive top-notch service at all times. This may include training for your staff, establishing service standards, and implementing customer feedback programs. Empower your front-line staff to make decisions and take action to resolve any guest issues or concerns. Use customer feedback to continually improve your operations and service offerings. Facilities Maintenance: Maintaining your resort's facilities is crucial to ensuring your guests have a comfortable and enjoyable stay. Your operations plan should outline the processes and schedules for cleaning and maintaining your resort's buildings, grounds, and equipment. Invest in regular maintenance for all of your resort's facilities and equipment to prevent breakdowns and ensure everything is in top condition. Establish a schedule for regular cleaning and upkeep to ensure your resort always looks its best. Security: Finally, security is an important consideration for any resort. Your operations plan should outline the measures you'll take to keep your guests and staff safe, such as establishing security protocols and training your staff on emergency procedures. Invest in security technology such as cameras and alarms to deter and prevent potential security issues. Train your staff on emergency procedures such as evacuation and handling medical emergencies. Creating a business plan is crucial for any entrepreneurial venture, including a luxury resort. By following these nine steps, you can develop a comprehensive plan to achieve your goals and attract investors. Remember to conduct market research to understand your target market and competition. Define your unique selling proposition and determine the capital and financing needs for your resort. Establish the company structure and legal requirements, choose a location, create a preliminary marketing plan, and develop an operations plan. A successful luxury resort is built on providing guests with a unique and memorable experience. By following this checklist, you can ensure that your resort meets the needs and desires of your guests while also being financially sustainable. Establish Company Structure and Legal Requirements Expert-built startup financial model templates Leave a comment Your email address will not be published. Required fields are marked * Please note, comments must be approved before they are published Need a business plan? 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Vote count: 2 No votes so far! Be the first to rate this post. Table of Content Do you want to start resorts business? Do you want to start your own resort? If yes then you should definitely start it because a resort business can prove extremely profitable and can provide a good return on investment group business plan , provided that you plan and execute it properly. Before starting this venture, you will have to do a thorough research so that you may get to know, how to open a resort. Other than that, you will also have to prepare a comprehensive business plan which will not only help you in startup but will also be useful in deciding your business strategies over the next few years. For your facilitation, we are providing the business plan of a resort startup, ‘Heaven’s Inn. Executive Summary 2.1 the business. Heaven’s Inn will be a dream resort located at 10 minutes’ drive from Mitchell’s Cove Beach in Santa Cruz, California. 2.2 Management Heaven’s Inn will be owned and operated by Anna Jill, who has been associated with various resorts and hotels throughout the United States for the last 10 years. Being experienced in this industry, Anna knows how to start a resort business and make it successful. 2.3 Customers Our customers will primarily be the tourists visiting Santa Cruz. We will serve them by providing a dream lodging and unparalleled service. 2.4 Target of the Company Our target is to become the best resort of Santa Cruz within 5 years of our launch. Company Summary 3.1 company owner. Heaven’s Inn will be owned and operated by Anna Jill. Anna has served at many senior positions in various resorts and hotels throughout the United States. She is known for her flawless management and sharp business acumen. 3.2 Why the Business is being started Anna has always wished to create a dream location for tourists and through her venture, she aims to build an out-class resort with the best customer service. Her resort, with its high-end luxurious facilities, will be the dream location for every tourist out there. 3.3 How the Business will be started You have to consider all startup requirements before you think about how to start your own resort. Anna has procured a beautiful building which was previously used as a hotel for starting her resort. The financial experts have forecasted the following costs for the start-up: The detailed start-up requirements are as follows: Legal $55,300 Consultants $0 Insurance $32,750 Rent $32,500 Research and Development $32,750 Expensed Equipment $32,750 Signs $1,250 TOTAL START-UP EXPENSES $187,300 Start-up Assets $0 Cash Required $332,500 Start-up Inventory $32,625 Other Current Assets $232,500 Long-term Assets $235,000 TOTAL ASSETS $121,875 Total Requirements $245,000 $0 START-UP FUNDING $273,125 Start-up Expenses to Fund $11,875 Start-up Assets to Fund $15,000 TOTAL FUNDING REQUIRED $0 Assets $23,125 Non-cash Assets from Start-up $18,750 Cash Requirements from Start-up $0 Additional Cash Raised $18,750 Cash Balance on Starting Date $21,875 TOTAL ASSETS $0 Liabilities and Capital $0 Liabilities $0 Current Borrowing $0 Long-term Liabilities $0 Accounts Payable (Outstanding Bills) $0 Other Current Liabilities (interest-free) $0 TOTAL LIABILITIES $0 Capital $0 Planned Investment $0 Investor 1 $332,500 Investor 2 $0 Other $0 Additional Investment Requirement $0 TOTAL PLANNED INVESTMENT $695,000 Loss at Start-up (Start-up Expenses) $313,125 TOTAL CAPITAL $251,875 TOTAL CAPITAL AND LIABILITIES $251,875 Total Funding $255,000 Services for customers Before thinking about how to build a resort, you must decide what services will you provide to your customers since the planning of many subsequent things depend on your services. Heaven’s Inn will provide ten 2-bedroom units along with attached washrooms, laundry facilities, fully-equipped kitchens and parking facility. The resort also will offer a common outdoor swimming pool along with various other facilities. Our primary services are as follows: 24-hour Room Service 24-hour Medical Service Outside Swimming Pool Café and Lobby Bar Concierge Service Baby Sitting Service Laundry Service Laptop and Computer Rental Service Conference Meeting and Private Dining Service Massage, Manicure and Pedicure Service Airport Pick-up and Transfer Service Marketing Analysis of resorts business If you don’t know how to make a resort business plan, you can take help from this resort business plan sample. The most important component of effective resorts business plan is its accurate marketing analysis that’s why Anna acquired the services of marketing experts to help her through this phase. It is only after this stage that a good resorts business plan could have been developed. She also went through various resort business plans for getting a hold of the process. After identifying the local market trends in Santa Cruz, the marketing experts and analysts also helped her to select the best site for establishing the resort. The success or failure of a business totally depends upon its marketing strategy which can only be developed on the basis of accurate marketing analysis. Marketing analysis is a must-do thing before you move on to develop a business plan for hotel and resort because the planning of many subsequent components depends on it. Therefore, it must be considered before developing a business plan for resort development. 5.1 Market Trends The global resort and hotel industry generate more than $550 billion in revenue as of 2016. The resort and hotel industry is one of the important industries of the United States and has grown annually steadily over the recent years. It generated more than $190 billion in revenue as of 2015. The United States houses some of the world’s most famous city resorts and destinations which contribute significantly to the resorts and hoteling industry of the country. The number of smaller resorts have also increased over the previous years. 5.2 Marketing Segmentation Our target market is the tourist community that visits Santa Cruz for various purposes. Nearly all of the tourists have sufficient budget for spending on their lodging, therefore, they can easily afford to stay at our resort. Our experts have identified the following type of target audience which can become our future consumers: Business plan for investors These three target groups have different purposes for visiting Santa Cruz and hence have different requirements for their lodging. We can target them only after analyzing their requirements during the stay. The detailed analysis of our target audience is as follows: 5.2.1 Recreational Tourists: The first group comprises of the recreational tourists who have come to Santa Cruz for recreational and adventurous purposes. This category also includes tourists who have come for sporting, skiing or participating in other similar activities. Nearly half of the tourists visit Santa Cruz for recreational purposes, hence this target group will be the biggest consumer of our services and our marketing policy will be specifically built to target them. 5.2.2 Business Tourists: The second category comprises of the business tourists who visit Santa Cruz for retreats and company outings. Nearly all of the companies located in the United States organize company retreats once or twice a year to increase team building between their employees and to take a break from the hectic and monotonous office routine. Other than lodging, our resort will provide conference meeting rooms for these tourists and other necessities for organizing their work sessions, team meetings, seminars, workshops, and conferences during their stay. 5.2.3 Medical Tourists: The third category includes those tourists who visit Santa Cruz for medical purposes. This group mostly comprises of patients and senior citizens who need a change in their environment as a part of their medical treatment. These tourists need special attention, special diet and a 24-hour medical service, all of which will be available at our resort. The detailed market analysis of our potential customers is given in the following table:               Potential Customers Growth CAGR Recreational Tourists 45% 11,433 13,344 16,553 18,745 20,545 13.43% Business Tourists 38% 22,334 32,344 43,665 52,544 66,432 10.00% Medical Tourists 17% 8,322 9,455 10,655 12,867 14,433 15.32% Total 100% 42,089 55,143 70,873 84,156 101,410 9.54% 5.3 Business Target Our main business targets are: To become the best resort of Santa Cruz within 5 years of our launch To achieve the net profit margin of $10k per month by the end of the first year, $15k per month by the end of the second year, and $25k per month by the end of the third year To balance the initial cost of the startup with earned profits by the end of the first year 5.4 Product Pricing Our every bedroom unit will be charged at $200 per night and will have following facilities: high definition LCD TV, DVD/VCR, video on demand, video games, premium music channels, high-speed internet, fireplace, fully-equipped kitchenette, king-sized bed and full-sized sleeper sofa. Sales strategy is an important component of a business plan for small resort . Anna carried out an extensive research about various sales, marketing, and advertising strategies before she moved on to starting a resort business . 6.1 Competitive Analysis We will have an extremely tough competition ahead of us because Santa Cruz houses many high-class luxury resorts. Still, we hope to stand out due to our competitive rates and exceptional customer service. We will provide all facilities of a luxury resort within the lowest rates in the town. Our second competitive edge will be our unparalleled customer service which will be the best in town. We will treat every customer with utmost respect and make sure that they get more than what they had expected from us. 6.2 Sales Strategy We will market and advertise our resort on social and print media. We will offer online booking and payment services for facilitating customers. We will offer a 25% discount on our services for the first three months of our launch. 6.3 Sales Monthly 6.4 Sales Yearly 6.5 Sales Forecast Considering our competitive rates and the quality of our services our sales pattern is expected to increase with years. By analyzing our market segmentation strategy, our experts have forecasted the following sales on a yearly basis which are summarized in the column charts: The detailed information about sales forecast, total unit sales, total sales is given in the following table: Unit Sales Year 3 Lodging 1,887,030 2,680,320 2,588,240 Café and Bar 802,370 815,430 823,540 Conference Meeting 539,320 770230 1,002,310 Miscellaneous Services 265,450 322,390 393,320 TOTAL UNIT SALES Unit Prices Year 1 Year 2 Year 3 Lodging $140.00 $150.00 $160.00 Café and Bar $600.00 $800.00 $1,000.00 Conference Meeting $700.00 $800.00 $900.00 Miscellaneous Services $650.00 $750.00 $850.00 Sales       Lodging $2,149,800 $2,784,000 $3,383,200 Café and Bar $120,050 $194,500 $268,500 Conference Meeting $50,110 $71,600 $93,000 Miscellaneous Services $139,350 $194,600 $249,850 TOTAL SALES       Direct Unit Costs Year 1 Year 2 Year 3 Lodging $0.70 $0.80 $0.90 Café and Bar $0.40 $0.45 $0.50 Conference Meeting $0.30 $0.35 $0.40 Miscellaneous Services $3.00 $3.50 $4.00 Direct Cost of Sales       Lodging $989,300 $1,839,000 $2,679,700 Café and Bar $66,600 $119,900 $173,200 Conference Meeting $17,900 $35,000 $52,100 Miscellaneous Services $19,400 $67,600 $115,800 Subtotal Direct Cost of Sales $1,294,100 $1,699,400 $2,104,700 Personnel plan After you have estimated how much does it cost to build a resort , you will have to prepare a personnel plan to estimate how much cost will be incurred on the salaries of the staff. 7.1 Company Staff Anna will manage the overall operations and will initially hire following people: 1 Accountant for maintaining financial records 2 Sales Executives responsible for marketing and discovering new ventures 4 Chefs for preparing food 15 Service Assistants for undertaking various day-to-day operations 10 Cleaners for keeping the resort in a perfectly cleaned shape and undertaking other cleaning tasks, like laundry 4 Drivers for Airport pick-up and transfer service 2 Masseuse for massage and therapy service 1 Technician for undertaking IT-related tasks 1 Doctor for providing medical service in case of emergency 1 Facility Manager for managing all facilities and equipment of the resort 1 Front Desk Officer for acting as a receptionist 2 Security Officers 7.2 Average Salary of Employees   Accountant $44,000 $47,000 $50,000 Sales Executives $53,000 $56,000 $59,000 Chefs $66,000 $73,000 $80,000 Service Assistants $145,000 $152,000 $159,000 Cleaners $166,000 $173,000 $180,000 Drivers $550,000 $650,000 $750,000 Masseuse $410,000 $440,000 $480,000 Technician $35,000 $38,000 $41,000 Doctor $44,000 $47,000 $50,000 Facility Manager $53,000 $56,000 $59,000 Front Desk Officer $35,000 $38,000 $41,000 Security Officers $86,000 $89,000 $92,000 Total Salaries $1,271,000 $1,415,000 $1,569,000 Financial Plan Finally, you will have to prepare a financial plan before thinking about how to start a resort . The Heaven’s Inn financial plan outlines the development of the company over the next three years and is specifically developed to achieve the company’s short-term and long-term objectives. 8.1 Important Assumptions   Plan Month 1 2 3 Current Interest Rate 10.00% 11.00% 12.00% Long-term Interest Rate 10.00% 10.00% 10.00% Tax Rate 26.42% 27.76% 28.12% Other 0 0 0 8.2 Brake-even Analysis Monthly Units Break-even 5530 Monthly Revenue Break-even $159,740 Assumptions:   Average Per-Unit Revenue $260.87 Average Per-Unit Variable Cost $0.89 Estimated Monthly Fixed Cost $196,410 8.3 Projected Profit and Loss   Sales $309,069 $385,934 $462,799 Direct Cost of Sales $15,100 $19,153 $23,206 Other $0 $0 $0 TOTAL COST OF SALES Gross Margin $293,969 $366,781 $439,593 Gross Margin % 94.98% 94.72% 94.46% Expenses       Payroll $138,036 $162,898 $187,760 Sales and Marketing and Other Expenses $1,850 $2,000 $2,150 Depreciation $2,070 $2,070 $2,070 Leased Equipment $0 $0 $0 Utilities $4,000 $4,250 $4,500 Insurance $1,800 $1,800 $1,800 Rent $6,500 $7,000 $7,500 Payroll Taxes $34,510 $40,726 $46,942 Other $0 $0 $0 Total Operating Expenses $188,766 $220,744 $252,722 Profit Before Interest and Taxes $105,205 $146,040 $186,875 EBITDA $107,275 $148,110 $188,945 Interest Expense $0 $0 $0 Taxes Incurred $26,838 $37,315 $47,792 Net Profit $78,367 $108,725 $139,083 Net Profit/Sales 30.00% 39.32% 48.64% 8.3.1 Profit Monthly 8.3.2 Profit Yearly 8.3.3 Gross Margin Monthly 8.3.4 Gross Margin Yearly 8.4 Projected Cash Flow Cash Received Cash from Operations       Cash Sales $40,124 $45,046 $50,068 Cash from Receivables $7,023 $8,610 $9,297 SUBTOTAL CASH FROM OPERATIONS Additional Cash Received       Sales Tax, VAT, HST/GST Received $0 $0 $0 New Current Borrowing $0 $0 $0 New Other Liabilities (interest-free) $0 $0 $0 New Long-term Liabilities $0 $0 $0 Sales of Other Current Assets $0 $0 $0 Sales of Long-term Assets $0 $0 $0 New Investment Received $0 $0 $0 SUBTOTAL CASH RECEIVED Expenditures Year 1 Year 2 Year 3 Expenditures from Operations       Cash Spending $21,647 $24,204 $26,951 Bill Payments $13,539 $15,385 $170,631 SUBTOTAL SPENT ON OPERATIONS Additional Cash Spent       Sales Tax, VAT, HST/GST Paid Out $0 $0 $0 Principal Repayment of Current Borrowing $0 $0 $0 Other Liabilities Principal Repayment $0 $0 $0 Long-term Liabilities Principal Repayment $0 $0 $0 Purchase Other Current Assets $0 $0 $0 Purchase Long-term Assets $0 $0 $0 Dividends $0 $0 $0 SUBTOTAL CASH SPENT Net Cash Flow $11,551 $13,167 $15,683 Cash Balance $21,823 $22,381 $28,239 8.5 Projected Balance Sheet Assets Current Assets       Cash $184,666 $218,525 $252,384 Accounts Receivable $12,613 $14,493 $16,373 Inventory $2,980 $3,450 $3,920 Other Current Assets $1,000 $1,000 $1,000 TOTAL CURRENT ASSETS Long-term Assets       Long-term Assets $10,000 $10,000 $10,000 Accumulated Depreciation $12,420 $14,490 $16,560 TOTAL LONG-TERM ASSETS TOTAL ASSETS Liabilities and Capital Year 1 Year 2 Year 3 Current Liabilities       Accounts Payable $9,482 $10,792 $12,102 Current Borrowing $0 $0 $0 Other Current Liabilities $0 $0 $0 SUBTOTAL CURRENT LIABILITIES Long-term Liabilities $0 $0 $0 TOTAL LIABILITIES Paid-in Capital $30,000 $30,000 $30,000 Retained Earnings $48,651 $72,636 $96,621 Earnings $100,709 $119,555 $138,401 TOTAL CAPITAL TOTAL LIABILITIES AND CAPITAL Net Worth $182,060 $226,240 $270,420 8.6 Business Ratios   Sales Growth 4.35% 30.82% 63.29% 4.00% Percent of Total Assets         Accounts Receivable 5.61% 4.71% 3.81% 9.70% Inventory 1.85% 1.82% 1.79% 9.80% Other Current Assets 1.75% 2.02% 2.29% 27.40% Total Current Assets 138.53% 150.99% 163.45% 54.60% Long-term Assets -9.47% -21.01% -32.55% 58.40% TOTAL ASSETS Current Liabilities 4.68% 3.04% 2.76% 27.30% Long-term Liabilities 0.00% 0.00% 0.00% 25.80% Total Liabilities 4.68% 3.04% 2.76% 54.10% NET WORTH Percent of Sales         Sales 100.00% 100.00% 100.00% 100.00% Gross Margin 94.18% 93.85% 93.52% 0.00% Selling, General & Administrative Expenses 74.29% 71.83% 69.37% 65.20% Advertising Expenses 2.06% 1.11% 0.28% 1.40% Profit Before Interest and Taxes 26.47% 29.30% 32.13% 2.86% Main Ratios         Current 25.86 29.39 32.92 1.63 Quick 25.4 28.88 32.36 0.84 Total Debt to Total Assets 2.68% 1.04% 0.76% 67.10% Pre-tax Return on Net Worth 66.83% 71.26% 75.69% 4.40% Pre-tax Return on Assets 64.88% 69.75% 74.62% 9.00% Additional Ratios Year 1 Year 2 Year 3   Net Profit Margin 19.20% 21.16% 23.12% N.A. Return on Equity 47.79% 50.53% 53.27% N.A. Activity Ratios         Accounts Receivable Turnover 4.56 4.56 4.56 N.A. Collection Days 92 99 106 N.A. Inventory Turnover 19.7 22.55 25.4 N.A. Accounts Payable Turnover 14.17 14.67 15.17 N.A. Payment Days 27 27 27 N.A. Total Asset Turnover 1.84 1.55 1.26 N.A. Debt Ratios         Debt to Net Worth 0 -0.02 -0.04 N.A. Current Liab. to Liab. 1 1 1 N.A. Liquidity Ratios         Net Working Capital $120,943 $140,664 $160,385 N.A. Interest Coverage 0 0 0 N.A. Additional Ratios         Assets to Sales 0.45 0.48 0.51 N.A. Current Debt/Total Assets 4% 3% 2% N.A. Acid Test 23.66 27.01 30.36 N.A. Sales/Net Worth 1.68 1.29 0.9 N.A. Dividend Payout 0 0 0 N.A. Download Resort Business Plan Sample in pdf Professional OGS capital writers specialized also in themes such as water park business plan , business plan for summer camp , hookah business plan , rv park business plan , cinema business plan , night club business plan and many others. OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you. Bowling Alley Business Plan Sample Nightclub Business Plan (2024): A Comprehensive Guide Rabbit Farming Business Plan Beverages Business Plan Private Schools Business Plan Business Plan for a Lounge Any questions? Get in Touch! We have been mentioned in the press: Leave a Reply Cancel reply Your email address will not be published. Required fields are marked * Save my name, email, and website in this browser for the next time I comment. Search the site: Election 2024 Entertainment Newsletters Photography AP Buyline Personal Finance AP Buyline Shopping Press Releases Israel-Hamas War Russia-Ukraine War Global elections Asia Pacific Latin America Middle East Election results Google trends AP & Elections U.S. Open Tennis Paralympic Games College football Auto Racing Movie reviews Book reviews Financial Markets Business Highlights Financial wellness Artificial Intelligence Social Media What we know so far about Trump Tower project for Moscow Copy Link copied WASHINGTON (AP) — Confused about the business proposal to build a Trump Tower in Moscow? Join the club. President Donald Trump’s lawyer-spokesman Rudy Giuliani and a disputed Buzzfeed News report have muddied the waters on exactly how long negotiations over the project went on. It’s a key question because Trump was pursuing the deal during the 2016 campaign while he was publicly calling for easing U.S. sanctions on Russia and as Moscow was directing a large-scale operation aimed at swaying the election his way. Here’s what we know so far: — September and October 2015: As a Trump Organization lawyer, Michael Cohen receives a proposal for a hotel, office and residential building in Russia that comes to be known as the Trump Tower Moscow project. One of Trump’s numerous corporate entities then enters into a letter of intent on the project. — Late 2015: Donald Trump Jr. and Ivanka Trump are copied on emails about the project. In one email, Ivanka Trump suggests an architect for the building. — May 4-6, 2016: Felix Sater, an executive who had worked on and off for the Trump Organization, and Cohen discuss having Trump visit Russia after the Republican National Convention. They also discuss the possibility of Cohen meeting in mid-June with Russian President Vladimir Putin and Russian Prime Minister Dmitry Medvedev. Sater said Peskov had invited Cohen as his guest. — Aug. 28, 2017: Cohen submits to Congress a two-page letter about the Trump Tower Moscow deal, saying the project ended in January 2016, that he only discussed it three times with Trump, that he never considered traveling to Russia or asking Trump to travel there, and that he did not recall having contact with the Russian government about the proposal. All of those statements were false, according to court papers. — September and October 2017: Cohen says in prepared remarks to the Senate intelligence committee that the Moscow deal ended “before the Iowa caucus and months before the first primary.” He says the same during testimony before the committee. Those statements turned out to be lies. — Nov. 29, 2018: Cohen pleads guilty to lying to Congress. He says he briefed Trump and his family members on the Russia proposal through June 2016. Cohen says he lied to minimize the public understanding of Trump’s Russia ties, to try to limit the various Russia investigations and to be consistent with Trump’s “political messaging.” — Dec. 12, 2018: Cohen is sentenced to three years in prison. — Jan. 17, 2019: BuzzFeed News, citing two unnamed law enforcement officials, reports that Trump directed Cohen to lie to Congress about the Trump Tower Moscow proposal. The report does not specify what Trump said to Cohen or when he said it. — Jan. 18, 2019: In a rare public statement, a spokesman for special counsel Robert Mueller disputes the BuzzFeed report. “BuzzFeed’s description of specific statements to the Special Counsel’s Office, and characterization of documents and testimony obtained by this office, regarding Michael Cohen’s Congressional testimony are not accurate,” spokesman Peter Carr says in a statement. BuzzFeed stands by the story and asks for clarity from Mueller’s team. — Jan. 20-21, 2019: Giuliani suggests in TV interviews that Trump remembers conversations with Cohen about the project “up to as far as October, November,” or right up until the election. That would have extended the timeline for the Russian business deal well beyond what the president has publicly acknowledged. Giuliani also leaves open the possibility that Trump and Cohen might have discussed Cohen’s testimony. The next day, Giuliani walks back his comments, saying they “did not represent the actual timing or circumstances of any discussions.” He says his comments were “hypothetical” and “not based on conversations” he had with the president. Associated Press writers Michael Balsamo, Eric Tucker and Michael Biesecker contributed to this report. Property Management System Channel Manager Booking Engine Marketplace Revenue Management Cloudbeds Payments Digital Marketing Suite Whistle for Cloudbeds Cloudbeds Insights NEW B&Bs and Inns Hotel Groups Vacation Rentals Channel Connections Ambassador Partner Program Cloudbeds Horizon Become a Partner Customer Stories Resource Center Guides & Reports Calculators What to Expect Customer Success Knowledge Base Compass What's new in Q2 Product Updates Cloudbeds University Government Compliance Company News Meet the Team Careers We're Hiring! Become an Ambassador Event Schedule Cloudbeds Insights From idea to execution: 10 sections to include in your hotel business plan Stay up to date with the latest trends, insights and technology for hoteliers. First name * Last name * Property Name * Property Type * Property type* Hotel Bed and Breakfast Hostel Apartment Groups Vacation Homes Alternative Accommodations How many listings do you have? How many Addresses does your business have? * English Spanish Portuguese Franch Vietnamese Japanese Thai Italian By Lana Cook Do you love connecting with people from all over the world who share your passion for travel? Don’t want to work a typical 9-5 job and instead want to build a business where every day is different, and you own your schedule? Starting a hotel business is a dream many entrepreneurs have, but it can be a daunting venture to start. A hotel business plan is a critical first step for business owners to turn their dreams into reality. A strategic plan allows one to study the hotel industry, identify their hotel’s unique point of view, and outline how exactly they will reach their goals. Read on to learn more about the ten sections to include in your hotel business plan, tips for creating an effective plan, and key things you need to start your new hotel business. Ready to get started creating your plan? Download our hotel business plan template. What is a hotel business plan? A hotel business plan is a detailed document that identifies your business’s goals, objectives, and strategies for success. It includes market research and a roadmap for building and operating your business. Why do you need a hotel business plan? Studies show that entrepreneurs who finished their business plan were twice as likely to succeed in growing their business than those with no plan. A hotel business plan: Helps you identify whether you have a viable business idea Provides a detailed roadmap on what you need to accomplish and why Gives potential investors insight into your business idea and confidence that you can be successful Keeps you on track as you start to execute the different tactics outlined in your plan Identifies critical milestones for you and your team to reach Your plan does not have to be static and should change over time as your business grows and evolves. Your first draft is a starting point to help guide your strategy and instill confidence in potential investors. 10 sections to include in your hotel business plan Whether you’re starting a small boutique hotel, a cozy B&B, or a 5-star resort, you will need to address the following sections in your hotel business plan. 1. Executive summary An executive summary is the most essential part of your business plan. It should concisely explain the purpose of your business and why it will be a success. Include your mission statement explaining why your hotel exists and its overall goal. For example, Capella Hotels & Resorts ’ mission is to combine tradition, discovery, individuality, and twist of the unexpected to create the perfect stay for each guest. You should also include your vision statement that clearly describes your hotel’s purpose for being in a single sentence. For Capella Hotels, its vision is to embody excellence in the craft of hospitality. We recommend writing your executive summary as the final stage, as it should summarize the goals and objectives laid out in your plan. 2. Company analysis Your company analysis is where you can dive into your hotel’s competitive advantage. Ask yourself what makes your hotel unique . Why would guests want to stay with you instead of your competitors? In this section, identify your brand’s identity and the goals and objectives you want to accomplish. Outline how many rooms and room categories your property will have. For example, will you offer a hybrid hospitality model with dorms, single rooms, and suites? Explain what ancillary revenue sources you’ll offer, like in-room food and beverage options, welcome drinks, or airport shuttles. Use storytelling to communicate your excitement and passion and make it clear what your hotel will bring to the hospitality industry that hasn’t been done before. 3. Industry analysis As a business owner, you must be prepared for forces outside your control. You will need to conduct a market analysis that looks at the hospitality industry to identify micro and macro trends that may impact your business. Look at: Economic trends Environmental trends Political trends Global health trends Technology trends For each trend, identify how it will impact your business and ways to mitigate risk or take advantage of opportunities. For example, digital check-in technology has increased across the hotel industry with the rise of tech-savvy guests, new innovative software providers, and labor challenges. Therefore, consider what guest experience solution you’ll include at your hotel. In addition to trends, look at the history of the hospitality industry, its current size, and how it’s expected to grow in the short and long term. This research will impact the rest of your plan, especially your marketing and financials. 4. Customer analysis What type of hotel guests do you want to attract? It’s impossible to please every kind of guest, which is why it’s important to identify your target market . Once you know who you want to stay at your property, you can develop amenities, services, and marketing materials to attract these guests and deliver exceptional experiences . Ask yourself: What type of guests do I want? Business or leisure travelers? Retirees or Gen-Z? What demographics? Age, gender, marital status, etc. What are my target market’s interests? Water sports, hiking, relaxation, museums, etc. What does my target market value? Sustainability, contactless technology, personalized service, localized experiences, etc. This section will help you formulate the guest experience to ensure that expectations meet reality . 5. Competitive analysis The competition you face will vary depending on where your hotel is located. In this section, you should conduct in-depth competitor research to understand how your hotel will compare. Identify your five major competitors — ideally, three direct competitors you will be competing with upon opening and two aspirational competitors you can emulate as you grow your business. Conduct a SWOT analysis based on your competitors to look at: Strengths . Where does your property excel in comparison to competitors? Why would travelers pick you? Price, amenities, location, technology, etc. Weaknesses . Where does your property fall short in comparison to competitors? Price, amenities, location, technology, etc. Opportunities . What industry trends can you take advantage of? What local events or partnerships can you capitalize on? Threats . What are the biggest threats facing your property? War, travel restrictions, recession, etc. A thorough analysis can help solidify your competitive advantage and develop a contingency plan for how you will deal with your weaknesses and threats. 6. Marketing plan Without demand, there is no business. A hotel marketing plan outlines the channels you’ll use to reach your target audience to drive bookings. Your marketing strategy should include three key channels: 1) Paid media . Paid advertising to promote your property and drive bookings. This includes online travel agencies (OTAs) , search engine marketing (SEM), retargeting, and metasearch advertising. 2) Owned media. The content  you create, like your hotel website , social media channels, blog posts, and SEO. 3) Earned media. User-generated content created by third parties like media coverage or online reviews. 7. Operations plan How do you plan to run your day-to-day operations? This section of your plan will outline all of the key tasks and responsibilities of your team and what exactly your hotel will offer. Consider: The number of staff and supervisors required Job descriptions and responsibilities Your service standards (check out our downloadable SOPs for some inspiration) How you’ll manage your inventory What hotel technology solutions will you need? PMS, channel manager, booking engine, payment terminal, revenue management tools, guest engagement software, etc. What services and amenities do you want to offer? Room service, bar, restaurant, pool, spa, wellness center, etc.  Detail your short and long-term operational plans and the stakeholders involved for each area. 8. Management team Whether or not you’ve hired your team yet, this is one of the most important sections potential investors will look at. Make sure to outline the key personnel you will require and their roles.  In general, these are the following roles you’ll want to outline: Hotel management (general manager, front office manager, housekeeping manager, maintenance manager, revenue manager) Hotel sales team Housekeeping staff Front office staff Maintenance Depending on the size of your hotel, your team will vary. Identify the team members you need to open and your hiring plans over the next five years. 9. Strategic plan Hoteliers must be strategic in optimizing occupancy rates across seasons to maintain revenue. As part of your strategic plan, identify how you will manage: Pricing – what room types will you offer, and how will the pricing vary? How will you maintain consistent occupancy throughout the high and low seasons? Will you adapt your pricing and marketing strategies? How will you conduct revenue management ? What type of rules/alerts will you use to adjust rates? Will you use technology to help with revenue management? What will your online reputation management strategy be? How will you collect and respond to online reviews? What will your distribution mix look like? How will you drive reservations across a variety of channels? 10. Financial plan Your financial projections are the most challenging but arguably the most crucial part of your hotel business plan. In this section, you should include the following: Start-up costs. How much money will you need from lenders to operate your hotel? Consider business licenses, furniture, down payments, etc. Operating costs . How much money will you need to keep your business running? Consider staffing costs, guest acquisition costs, mortgage payments, utilities, SaaS payments, etc. Income statement . What will your revenue, expenses, and profit be over the first 3-5 years of business? Cash flow projections . How will cash flow in and out of your business? Show what capital investment you’ll need to start. Balance sheet . Identify your assets, liabilities, and equity. If you’re looking for a potential investor, your financial plan will be the section they care about most. Here, you must prove how your business will provide a return on investment. Don’t forget to include an Appendix that shows more detailed reporting and financial figures. 8 tips for creating an effective plan 1. Start with the section that excites you the most! Covering all the topics outlined above can feel overwhelming, so don’t feel pressured to go in order. 2. Reach out to a business owner you admire. No matter what type of business you’re starting, getting advice from another business owner is always helpful. Reach out to a successful local business owner to see if they’d be willing to share some insights they learned along the way. 3. Be concise. While there’s a lot to cover, you must be concise in each section of your plan. Include any additional research or documentation in the appendix to keep your business plan clean. 4. Try to avoid industry jargon. Depending on what type of investor is reading your plan, they may find jargon irrelevant and distracting. 5. Ensure you have a clear competitive advantage. You should be able to state in one sentence what makes your property unique. This unique selling point (USP) will be prominent in all of your marketing materials. 6. Set SMART goals. Setting specific, measurable, achievable, relevant, and time-bound goals is important to stay organized and on track to reach milestones. 7. Don’t forget about your plan. You will have spent hours developing your plan, so make sure you use it! Reference your plan as you build and grow your business , and remember that it’s ok if things change. 8. Illustrate your passion. Communicate why you want to be a part of the hospitality industry. Passion is contagious and gives investors more confidence that you will work hard to achieve your dreams. What do you need to start a hotel business? Ok, so you’ve read through this article and are now wondering — what’s next? Ensure you have the following items on your radar to start your business. A vision. Know exactly what kind of business you want to build (a quaint bed and breakfast is very different from a large-scale resort). A business plan. Stay on track with a well-developed business plan. A location. Decide if you want to build a new property or renovate an existing hotel. Capital. Do you need to raise an upfront capital investment? Remember that new businesses usually aren’t profitable for the first few years and will need cash flow to pay for expenses. Business licenses & permits. Depending on the type of property and its services, you’ll need an occupancy permit, alcohol license, food service license, sales tax license, etc. Technology. Choose technology to help streamline operations and earn more revenue. Furniture & equipment. You must furnish your property with the proper furniture, electronics, appliances, etc. Staff. Take time hiring staff you can trust and who understand your hotel’s brand and vision. Final thoughts Your business plan provides the foundation for your new business and outlines the next steps in the journey. Ensure you fully understand the market and competitive landscape to enter the industry prepared for the future. Start slow and invest in the right people and technology to support the growth of your business. Looking to start a hotel? Download the technology guide. Download now About Lana Cook Lana Cook is a Content Writer at Cloudbeds where she is able to combine her love of writing and passion for travel. She has spent the last few years writing about all things technology and the ways in which it can be used to help businesses thrive. When she’s not busy writing, you can find her checking out the latest movie or searching for a new TV show to binge. Hotel business plan You might also be interested in..., global hospitality technology leader linda vallner joins cloudbeds as vice president for emea, cloudbeds welcomes ai and machine learning pioneers to revolutionize hospitality technology, 13 hotel technology trends every hotelier needs to know. Distribution Strategy Cloudbeds News Cloudbeds Product Updates Guest Experience Browse by property type Cloudbeds Hospitality Platform Ambassador Program Cloudbeds Login Terms of Service Privacy Policy Data Security Cookie Policy Accessibility 223 IMAGES Resort Business Plan Resort Business Plan Template Resort Business Plan Resort Business Plan Template 13+ Hotel Business Plan Templates Resort Business Plan Template in Pages, Word, Google Docs VIDEO Hamare khane ke lale Bharat mein Babar ka private jet ka sapna sakar Introducing Vacation Rental Blueprint Modern SoHo Square Penthouse 1700 Sawtelle PH10 7 Low Investment Tourism Business Ideas How to Start a Resort Business in 2024 65///ECR SIVAM PROPERTIES 5 ground ECR 800mm beach property 🌊 price 65L village mugaiyur COMMENTS Ukraine Floats India Summit to Push Forward Plan to End War Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Justice's Greenbrier comes to last-minute deal on union health care WHITE SUPLHUR SPRINGS — The Greenbrier Resort, the historic hotel owned by Gov. Jim Justice, and the union representing 400 Greenbrier employees announced a deal on overdue payments to the union ... How to Write Resort Business Plan? Guide & Template 2. Business Description. Mission Statement: Define the purpose of your resort and what sets it apart from others. Vision Statement: Describe the long-term goals and aspirations for your resort. 3 ... Resort Business Plan [Free Template Writing a resort business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan: 1. Executive Summary. An executive summary is the first section planned to offer an overview of the entire business plan. Resort Business Plan Template [Updated 2024] Marketing Plan. Traditionally, a marketing plan includes the four P's: Product, Price, Place, and Promotion. For a resort business plan, your marketing strategy should include the following: Product: In the product section, you should reiterate the type of resort company that you documented in your company overview. Resort Business Plan Template (2024) A resort business plan is a plan to start and/or grow your resort business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing strategy and details your financial projections. You can easily complete your Resort business plan using our Resort Business Plan Template here. Resort Business Plan Template The business description section of a resort business plan delves into the heart of the venture, providing a detailed overview of the resort's vision, mission, and core values. It articulates the purpose of the resort, highlighting the experiences and benefits it aims to offer to its target market. Sample Resort Business Plan Sample Resort Business Plan. Writing a business plan is a crucial step in starting a resort. Not only does it provide structure and guidance for the future, but it also helps to create funding opportunities and attract potential investors. For aspiring resort owners, having access to a sample resort business plan can be especially helpful in ... The Truth Behind Trump Tower Moscow: How Trump Risked ... After mining business agreements and surveying real estate experts in Moscow, however, ... The plan eventually called for 800 apartments near the concert venue that hosted the Miss Universe event ... Top 10 Resort Business Plan Templates with Examples and ... FAQs on Resort Business Plan . 1) What is a resort business plan? A resort business plan documents a resort business's goals, vision, and strategies. It has the following sections: An executive summary and a brief business plan overview. It highlights the main objectives and points. Fairbridge Inn We love our customers, so feel free to visit during normal business hours. Fairbridge Inn. 175 Peterson Drive, Moscow, Idaho 83843, United States. Phone: 208-883-1503. Get directions. Fairbridge Inn & Suites Moscow / Pullm. 175 Peterson Drive, Moscow, Idaho 83843, United States Four Seasons Hotel Moscow 5* official website of Moscow A few steps from the Kremlin and Red Square, - Four Seasons Hotel Moscow 5*, the heritage of history is perfectly combined with modern design. Discover a refurbished version of the legendary 1930s Moskva Hotel to enjoy panoramic views of iconic landmarks, personalized service at restaurants and spas, and an unforgettable experience for yourself and your loved ones in the heart of the capital. Resort Business Plan Template & Example [Updated 2024] Resort Business Plan Template. If you want to start a resort or expand your resort business, you need a business plan. The following Resort business plan template gives you the key elements to include in a winning Resort business plan. It can be used to start an all inclusive resort, a ski resort, a health spa resort, an eco tourism resort, or any other type of resort business. How to open a profitable resort? Undertake market research for a resort. Choose the right concept and position your resort on the market. Explore the ideal location to start your resort. Decide on a legal form for your resort. Assess the startup costs for a resort. Create a sales & marketing plan for your resort. Build your resort's financial forecast. Is Russia Building an 'Immigrant Village' for Conservative Americans The claim was made by a well-connected Russian immigration lawyer. Russian authorities are launching construction of a special village outside Moscow dedicated to conservative-minded Americans and ... Trump Tower Moscow v. t. e. Trump Tower Moscow, also known as the Moscow Project, [1] was a series of proposals by the Trump Organization to develop a Trump skyscraper in Russia. [2] Michael Cohen testified in February 2019 that Donald Trump Jr. and Ivanka Trump were regularly briefed about a proposed Trump Tower in Moscow. [3][4][5] Trump Jr. said to US Congress ... What is MoSCoW Prioritization? MoSCoW prioritization, also known as the MoSCoW method or MoSCoW analysis, is a popular prioritization technique for managing requirements. The acronym MoSCoW represents four categories of initiatives: must-have, should-have, could-have, and won't-have, or will not have right now. Some companies also use the "W" in MoSCoW to mean "wish.". How to write the business plan for a resort The written part of a resort business plan. The written part of a resort business plan usually consists of 7 comprehensive sections. From crafting an executive summary to presenting your financials, let's have a look at each of the key sections that compose a business plan. 1. The executive summary. Moscow.Info Moscow travel guide for tourists and business travelers. Full and accurate online information and travel services to help plan any trip to Moscow, Russia. Find everything you need to know about Moscow here. HOME: ABOUT US: PARTNERSHIP: SITE MAP: FAQ/HELP: CONTACT US: CALL US @ 7-812-303-8647: How to Craft a Resort Business Plan: Step-by-Step Guide Writing a business plan for a luxury resort can be quite daunting, but it's an essential step towards turning your dream into a reality. To help you streamline the process, we've put together a 9-step checklist that covers everything you need to consider when creating your business plan. Step 1: Conduct Market Research; Step 2: Determine Target ... Resort Business Plan Template [UPD 2024] 5.1 Market Trends. The global resort and hotel industry generate more than $550 billion in revenue as of 2016. The resort and hotel industry is one of the important industries of the United States and has grown annually steadily over the recent years. It generated more than $190 billion in revenue as of 2015. What we know so far about Trump Tower project for Moscow Here's what we know so far: — September and October 2015: As a Trump Organization lawyer, Michael Cohen receives a proposal for a hotel, office and residential building in Russia that comes to be known as the Trump Tower Moscow project. One of Trump's numerous corporate entities then enters into a letter of intent on the project. How to Create a Hotel Business Plan in 2024 (+Free Template) 10 sections to include in your hotel business plan. Whether you're starting a small boutique hotel, a cozy B&B, or a 5-star resort, you will need to address the following sections in your hotel business plan. 1. Executive summary. An executive summary is the most essential part of your business plan. MoSCoW method The MoSCoW method is a prioritization technique used in management, business analysis, project management, and software development to reach a common understanding with stakeholders on the importance they place on the delivery of each requirement; it is also known as MoSCoW prioritization or MoSCoW analysis.. The term MOSCOW itself is an acronym derived from the first letter of each of four ... Four questions about Trump's tower in Moscow that never was Drew Angerer. Michael Cohen seen at Trump Tower, December 12, 2016. Cohen fell afoul of the special counsel for lying to Congress at least three times about the timeline and extent of these plans ... essay homework paper phd project resume review speech thesis