Types of company: Private
Types of business: Bakery Shop
Product: Cup Cakes
Name of company: Cakes & Bakery
Subject – Facilities & Asset Development in
hospitality industry
Part 1 - 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
Part 2 - Planning
for Facility Design and
Development
Description:
Once the determination has been made on the type of facility, the location, and whether to build,
renovate, it is time to detail the planning for the project. Vibrant colors and new furniture do not make the
enterprise a success.
1) Vision
2) Mission Statement
3) Description Business
4) Marketing Strategy
A) SWOT analysis
B) Demographic/ Psychographic Data
C) Marketing Advertising Plan
D) 3Year Proforma income statement
5). To complete this task
1. Watch Bromley Sun Lodge on Hotel Impossible at
http://www.travelchannel.com/video/bromley-sun-lodge-2
1.
1. What issues are occurring at the Bromley Sun Lodge?
2. Identify initial problems that could have been prevented with good planning
2. Investigate how to write your business plan:
1. Watch https://www.youtube.com/watch?v=LcuiS294bZo&feature=youtu.be Starting a
Business: Writing a Business Plan
2. Watch https://www.youtube.com/watch?v=i1qF2y3A-Ak&feature=youtu.be So You want
to open up a restaurant
3. How to Write a Persuasive Hotel Business Plan http://www.xotels.com/en/hotelmanagement/hotel-business-plan
4. Bed and Breakfast Business
Plan http://www.bplans.com/bed_and_breakfast_business_plan/executive_summary_fc.php
5. Health Spa Business
Plan http://www.bplans.com/health_spa_business_plan/executive_summary_fc.php
3. Read and review http://www.xotels.com/en/revenue-management/starting-your-own-hotel Go to
Business Plans middle of the page
4. Watch Four Seasons Inn on Hotel Hell http://www.fox.com/watch/321155651653/7684543488
1. The owner had a dream but what was the reality?
2. What went wrong?
3. How could a plan have helped?
5. Now it is time to develop your own plan. Use the template provided in the Resources and make
the plan detailed and specific to the hospitality business you want to start. Keep in mind the
information you gathered in your needs analysis.
Subject – Facilities & Asset Development in
hospitality industry
Types of company: Private
Types of business: Bakery Shop
Product: Cup Cakes
Name of company: Cakes & Bakery
Part 1 - 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
Part 2 - Planning
for Facility Design and
Development
Description:
Once the determination has been made on the type of facility, the location, and whether to build,
renovate, it is time to detail the planning for the project. Vibrant colors and new furniture do not make the
enterprise a success.
1) Vision
2) Mission Statement
3) Description Business
4) Marketing Strategy
A) SWOT analysis
B) Demographic/ Psychographic Data
C) Marketing Advertising Plan
D) 3Year Proforma income statement
5). To complete this task
1. Watch Bromley Sun Lodge on Hotel Impossible at
http://www.travelchannel.com/video/bromley-sun-lodge-2
1.
1. What issues are occurring at the Bromley Sun Lodge?
2. Identify initial problems that could have been prevented with good planning
2. Investigate how to write your business plan:
1. Watch https://www.youtube.com/watch?v=LcuiS294bZo&feature=youtu.be Starting a
Business: Writing a Business Plan
2. Watch https://www.youtube.com/watch?v=i1qF2y3A-Ak&feature=youtu.be So You want
to open up a restaurant
3. How to Write a Persuasive Hotel Business Plan http://www.xotels.com/en/hotelmanagement/hotel-business-plan
4. Bed and Breakfast Business
Plan http://www.bplans.com/bed_and_breakfast_business_plan/executive_summary_fc.php
5. Health Spa Business
Plan http://www.bplans.com/health_spa_business_plan/executive_summary_fc.php
3. Read and review http://www.xotels.com/en/revenue-management/starting-your-own-hotel Go to
Business Plans middle of the page
4. Watch Four Seasons Inn on Hotel Hell http://www.fox.com/watch/321155651653/7684543488
1. The owner had a dream but what was the reality?
2. What went wrong?
3. How could a plan have helped?
5. Now it is time to develop your own plan. Use the template provided in the Resources and make
the plan detailed and specific to the hospitality business you want to start. Keep in mind the
information you gathered in your needs analysis.
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