Business management & development


Ed Schofi eld, a lecturer in business development and strategy at Glion Institute of Higher Education, and former GM for Renaissance hotels in the UK, discusses the hotel business plan – and why it’s important


Plan of action I


f you intend to own and operate a hotel, the one thing you must have in place is a solid, actionable and realistic business plan. Not only will this be useful to you when you want to attract investors and partners or when you need to obtain funding, it can also be the perfect roadmap to help you achieve your business goals and


not get distracted along the way. With a solid hotel business plan, you will be able to make important decisions more easily, and you will know whether you are on the right track, or you need to make changes in how you are working. With all this in mind, hotel business planning is crucial. Here are some tips on how to get started on a business plan:


26


Hotel Management International / www.hmi-online.com


AI generator/Shutterstock.com


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37