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Business Plan for 50 Room Hotel

Nigeria is projected to be the fastest growing hotel market from a revenue perspective over the next five years with a projected 14.7% compound annual increase in revenue, benefiting from an improving economy, continued growth in domestic tourism, and expansion in the number of available rooms, which will keep average room rate growth lower than the rate of inflation.

This business plan is for a 50 room hotel in Lagos.


Description

Hotel operations vary in size, function, and cost. Most hotels and major hospitality companies have set industry standards to classify hotel types. An upscale full-service hotel facility offers luxury amenities, full service accommodations, an on-site restaurant, and the highest level of personalized service, such as a concierge, room service and clothes pressing staff. Full service hotels often contain upscale full-service facilities with a large number of full service accommodations, an on-site full service restaurant, and a variety of on-site amenities. Boutique hotels are smaller independent, non-branded hotels that often contain upscale facilities. Small to medium-sized hotel establishments offer a limited amount of on-site amenities. Economy hotels are small to medium-sized hotel establishments that offer basic accommodations with little to no services. Extended stay hotels are small to medium-sized hotels that offer longer-term full service accommodations compared to a traditional hotel.

There are over 8292 hotels in Nigeria, and largely on the strength of growth in domestic tourism, Nigeria’s hotel market outperformed most expectations in 2016 and 2017. Domestic tourism had benefited in part from the recession, which reduced the number of people travelling abroad, but boosted the number vacationing in Nigeria. The combination of a declining economy and growth in domestic tourism boosted tourism’s contribution to GDP to 4.8% in 2016 from only 1.7% in 2015.

Nigeria is projected to be the fastest growing hotel market from a revenue perspective over the next five years with a projected 14.7% compound annual increase in revenue, benefiting from an improving economy, continued growth in domestic tourism, and expansion in the number of available rooms, which will keep average room rate growth lower than the rate of inflation.

This business plan is for a 50 room hotel in Lagos.

Table of Contents - Business Plan

1. Glossary

2. List of Acronyms

3. Executive summary

4. The Business Opportunity

·         Problems worth solving

·         Solutions

·         About the Project

5. Business Environment review

6. Description of the industry

·         Industry size

·         Key Players

·         Industry trends

7. Description of the Market

·         Profiles of Market Segments and amount spent

·         Market trends

8. Marketing Strategy

·         The target customer segments

·         The marketing mix

 

9. Operational plan

·         Product or Service offerings

·         Production Types

·         Capacity, size and types of Facilities and Equipment

·         Supply chain description and major suppliers

·         Production Process

·         Regulatory requirements

 10. Personnel needed and availability

11. Five years financial Planning Model with

·         Costs and Revenue Assumptions

·         Balance Sheet

·         Income Statement

·         Cash flow statement

·         Investment analysis

·         Financial Ratios

  •        Sensitivity Analysis

12. Risk analysis and Mitigation

13. Conclusion

14. References

15. Appendices

 

 

 

Report Details

Format: The report is sold as it is and any request for customization will attract additional cost. The report is updated annually (once every January of current year) unless otherwise stated.

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Want to save money on buying the business plan or feasibility report? Consider buying only the sections you need. The business plan or feasibility report is made up of many sections including the executive summary, business opportunity analysis, target market analysis, industry, sales and marketing execution, operating plan, human resources plan, financial forecast and risk management. Many entrepreneurs have a deep understanding of some sections of the business plan but need help with other sections.

These sections of the business plan can be bought separately to meet the needs of buyers or users who only need specific information in a more cost effective way. Click below to read about the contents of the various sections that make up a complete business plan or feasibility report to decide the sections you need.

TOC for Business plan and Feasibility report

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  • The Business Opportunity: up to 5% of total cost of the complete report
  • Business Environment review: up to 10% of total cost of the complete report
  • Brief overview of the industry: up to 20% of total cost of the complete report
  •  Brief overview of the market: up to 20% of total cost of the complete report
  • Marketing strategy: up to 20% of total cost of the complete report
  • Operational plan: up to 20% of total cost of the complete report
  • Personnel needed and availability: up to 10% of total cost of the complete report
  •  Five years financial Planning Model with sensitivity Analysis: up to 50% of total cost of the complete report
  • Risk analysis and Mitigation: up to 20% of total cost of the complete report

 

 

 

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