Facilities and Asset Development in hospitality industry

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Xrvgu87

Business Finance

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I attached my assignment

You will focus on what areas of the hospitality industry most interest you and what is both feasible and needed in your chosen area. This will include investigating issues such as need, cost, timing, the story you want to tell through your facility.

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Subject – Facilities & Asset Development in hospitality industry Analysis Description You will focus on what areas of the hospitality industry most interest you and what is both feasible and needed in your chosen area. This will include investigating issues such as need, cost, timing, the story you want to tell through your facility. Include: • Area, demographic, and neighborhood analysis • Site review – what is available, think location, location, location; what is already in the area; what is the draw to the area • Proposed development costs – will you build or renovate; what is the going cost per foot for each; cost for facility design, decorating. • Market analysis – who are the stakeholders; who will you market to; is it seasonal ___________________________________________________________________ To complete this task, engage in the following activities: 1. What does the hospitality industry have to offer? Where do you fit in? I. Before running off to start a Day Spa, B & B, Resort, or Restaurant you need to find your passion and what business will be meet your dreams, you abilities and talents, and the needs of the community. II. Investigate the big three hospitality areas: Food and Beverage, Travel and Tourism, and Accommodations 1. Locate resources that describe the pros and cons of investing your time and money in each 2. Make a list of these pros and cons for each III. Create a table and in one column list your dreams within the hospitality industry including jobs, places, types of businesses; in the other column make a list of your skills, talents, resources, and education. 2. Investigate the types of new development or renovation of current space for hospitality services. While you may have decided on one specific area that you are most interested in, be sure to investigate a variety so that you are both more knowledgeable and certain of your direction. Here are some places to start. 1. Investigate 10 Global Hospitality Trends in Hotels and Resorts at http://davidmcmillangroup.typepad.com/consulting/2008/01/10-global-trend.html 2. Developing and Renovating Hospitality Properties http://davidmcmillangroup.typepad.com/consulting/2008/01/10-global-trend.html 3. 5 Important Trends Shaping Todays Hotel Construction Market http://www.bdcnetwork.com/5-important-trends-shaping-today%E2%80%99s-hotelconstruction-market 4. Owning a B & B is all about Tradeoffs http://www.bandbcoach.com/blog/category/pros+and+cons+of+owning+a+bed+a nd+breakfast 5. Opening a Spa Business http://www.brighthub.com/office/entrepreneurs/articles/114700.aspx 6. Weight Loss Resorts a Boon to Developers http://www.hladvisors.com/publicationsresearch/publications-research/publication-details/weight-loss-resorts-boon-for-developers 7. Three trends in hotel renovations http://www.hotelnewsnow.com/Article/13963/3-trends-inhotel-renovations 8. Feasibility Study for Water Parks (in Resources) 3. Now that you have some ideas about what you might want to open, think about whether to build new or renovate. 1. Restaurant Remodeling: Arm Yourself for the Battle of the Budget http://www.restaurant.org/Manage-My-Restaurant/Operations/Front-ofHouse/Restaurant-remodeling-Arm-yourself-for-the-battle 2. Renovate or Build New http://hotelexecutive.com/business_review/2983/is-it-better-torenovateconvert-an-existing-asset-or-build-a-new-one 3. Renovation vs new construction http://hotelexecutive.com/business_review/238/hotelexpansion-renovation-vs-new-construction 4. Costs to Build http://www.fixr.com/costs/build-hotel 4. Now that you have looked at the variety of businesses within the hospitality industry, investigated the costs, and compared your dreams to your talents, now it is time to make a preliminary needs analysis and decide on the project your will pursue. This project will ultimately involve either planning to build or renovate a hotel, motel, bed and breakfast, day spa, resort, or restaurant. You are in charge of not only designing the facilities but ensuring that it fits your budget, is in the best location for return on investment, and meets all regulations. 1. Read this FIRST! Hotel Market Research and Feasibility Study http://www.xotels.com/en/hotel-management/hotel-market-research 2. Go out an look at possible sites 3. Investigate the neighborhood 4. Investigate competition 5. Interview other owners for similar businesses 6. Visit the city or county government offices to obtain permit information and regulations 7. What is the history of the current location or property
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Explanation & Answer

hey keith.check out.i have not included the costs for the building and area.i am still researching on that and include in a few..hit me up on anything

1

Restaurant Industry in New Mexico

2
Los Pollos Hermanos Restaurant
Introduction
Los Pollos Hermanos is the name of my restaurant which will be specializing in
providing the best chicken recipes to patrons among other foods that will be mainly Spanish.
This restaurant will be open from 8:00 in the morning to 11:00 in the evening and will also serve
beer, wine and liquor. The first location of this restaurants will be in Albuquerque, New Mexico.
The target market of this restaurant is everybody who likes and enjoys Spanish food. This makes
it very unspecific which increases our customer base.
Layout
The restaurant will consist of three floors. Each floor will be able to accommodate 54
clients at full capacity. This premise will have to be rented although the cost of renting floors in
Albuquerque is not very clear. Each floor will measure approximately 6 meters by about 8.5
meters. Seven tables will be allocated a space of 60 by 30 inches which will accommodate four
people on every floor. There will be three tables that will overlook the serving area that will
accommodate two people each. Three other tables will be accommodating four people per table
and they will be occupying a space of 30 by 48 inches each in the middle of the room just behind
the tables overlooking the serving area. Four tables will accommodate two people each and each
one of them will be taking up a 24 by 48 inch area. His plan is good for optimizing the floor
space and ensuring that there is adequate space in between tables to avoid congestion of
customers during peak hours. One of the most spacious floors will have to accommodate extra
tables to fit 13 more clie...


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