Hotel Business Plan Template
If you want to start a hotel business or expand your current one, you need a business plan.
Over the past 20+ years, we have helped over 5,000 entrepreneurs and business owners create business plans to start and grow their hotel businesses.
Below are links to each section of your hotel business plan template:
2. Company Overview
3. Industry Analysis
4. Customer Analysis
5. Competitive Analysis
6. Marketing Plan
7. Operations Plan
8. Management Team
9. Financial Plan
Hotel Business Plan FAQs
What Is the Easiest Way to Complete My Hotel Business Plan?
Growthink's Ultimate Hotel Business Plan Template allows you to quickly and easily complete your Hotel Business Plan.
Where Can I Download a Hotel Business Plan PDF?
You can download our hotel business plan PDF template here. This is a business plan template you can use in PDF format.
What Is a Hotel Business Plan?
A business plan provides a snapshot of your hotel as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.
Why Do You Need a Business Plan?
If you’re looking to start a hotel or grow your existing hotel you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your hotel in order to improve your chances of success. Your hotel business plan is a living document that should be updated annually as your company grows and changes.
What Are the Sources of Funding for a Hotel Business?
Hotels are usually funded through business loans.
Often you'll have to use personal savings and/or angel investors to help with the down payment on the business loan.
In the financial model section of your plan, be sure to detail, among other things, how much it will cost to build your hotel and the key uses of funds (e.g., building the hotel, cost to furnish the hotel, staffing costs, working capital, etc.).
Note that if you already operate several hotels, private equity investors might be interested in helping to finance your expansion.
How Do You Start a Hotel Business?
Starting a hotel business is easy with these 14 steps:
- Choose the Name for Your Hotel Business
- Create Your Hotel Business Plan
- Choose the Legal Structure for Your Hotel Business
- Secure Startup Funding for Your Hotel Business (If Needed)
- Secure a Location for Your Business
- Register Your Hotel Business with the IRS
- Open a Business Bank Account
- Get a Business Credit Card
- Get the Required Business Licenses and Permits
- Get Business Insurance for Your Hotel Business
- Buy or Lease the Right Hotel Business Equipment
- Develop Your Hotel Business Marketing Materials
- Purchase and Setup the Software Needed to Run Your Hotel Business
- Open for Business
Learn more about how to start a hotel.