Hotel Business Plan

50,000.00 20,000.00

2. Business Description

PATILAD HOTEL is a full service three star hotel with amenities such as gymnastics, pool, restaurant, bar and internet connections and provides recreational and business travellers with excellent planned room services. PATILAD HOTEL will position itself as a specialist in the field of hotel services and will generate the majority of its income from this segment.

PATILAD Hotel’s total expansion capital requirement is approximately ₦9,000,000. Start-up will be financed through the owner’s personal investment and a long-term loan secured from a commercial Bank. Start-up details are:

  • EXPENSES: These will be rent, office supplies, consultant’s fees, insurance, utilities, computers and internet access, etc.
  •  ASSETS: Primarily cash and computers.
  • INVESTMENT: The bulk of the investment will come from a loan and from the personal savings of the owner.
  • LOANS: A ₦10,000,000 loan is requested from Woodville First National Bank.

PATILAD HOTEL is a sole proprietorship owned and operated by Dayo Adetiloye in Lagos, Nigeria. PATILAD Hotel’s owner is researching the possibility of establishing PATILAD HOTEL as a Limited Liability Company (LLC). This should occur by the eighteen months of operation. Our operating license as at today is a sole proprietorship certificate.

We will have the website www.patiladhotel.com as a major way to communicate the services available and provide a portfolio of our client base and product offering.  The business is poised to grow by leaps and bounds through offering world class professionalism and excellence.

Form of business:              Sole-proprietorship.

Owner of business:           Dayo Adetiloye

State of business:               New business

Opening days:                     24 hours, 7 days a week.

Business Development

Consultant:                          Oyebade Adejumobi (MBA)

                                               Hundred and five Academy

Legal Adviser:                   Barrister Oyewumi   Oyewuni &Co

Banker:                               GTB

Board of Directors:           Funmi Johnson, Kemi Philips, Richard Asuquo

VISION

Our vision is to build a world class Hotel business in Nigeria, and earn our place amongst the first five in Nigeria by 2020.

MISSION

PATILAD Hotel is a newly established hotel that specializes in the provision of planned rooms, conference room, suites and restaurant services. We will provide hospitality and adventure to visitors. PATILAD Hotel’s mission is to become the foremost provider of hotel services in Nigeria and the number 1 choice of lodge to tourists and visitors.

OBJECTIVES

  1. To serve our customers beyond their expectations
  2. To have a clientele return rate of 90% by the end of first year.
  3. To increase the number of customers by at least 20% per year through superior customer service and word-of mouth referrals.
  4. To create a solid awareness scheme to inform our community and city about our services.

Our Goal 

  • Provide the highest hospitality experience possible.
  • To make the customers experience new with lots of exciting features each time they visit.
  • Communicate with our client base through the website and personalized communication techniques.
  • Retain clients to generate repeat lodging and initiate referrals.
  • Consistently improve on the quality of our services through constant feedback.
  • Lowering overall costs whilst increasing efficiency.

THE MOTTO

Passion, Innovation and Creativity! 

5.  Competitive Advantage

PATILAD Hotel competitive edge is first establishing a business based on long-standing relationships with satisfied customers. The longer the relationship stands, the more our customers understand what we offer them and why they frequently visit PATILAD HOTEL anytime they are in town and also refer it to others. We have and are building a list of our well satisfied customers who naturally use word-of-mouth advertising for the promotion of our business.

 The major factors in our competitive edge are:

  • Location: We are located in the economic centre of Lagos, a 10 mins drive from VI, directly opposite the Dangote Africa’s largest Refinery (at the back of the Island City mall). Every taxi knows this place.
  • Excellent World Class Service: our services will be differentiated from other hotel service providers by the value we offer. Client follow-through will be impeccable.  This competitive edge leverages the same proven factors that indicate higher success rates for hotel business.
  • Customer Engagement: Our company seeks to establish a competitive edge in its new target market segments by increasing the level of customer contact and service that other competitors seem to oftentimes lack.
  • Highly Skilled Workforce: PATILAD Hotel possesses the necessary skills to produce the high quality work that are needed in this field. The business ethic of PATILAD will ensure a greater service and will strengthen the customer contacts that promote word of mouth marketing and networking.

Other competitive advantages are:

  1. Long-term business experience of the management team
  2. Excellent business ethics
  3. Our prices are very affordable with juicy discounts.

The benefits of our services are

  • Quality and world class service
  • Affordable pricing models
  • Knowledgeable and qualified staff management
  • 24/7 online customer service

 MY COMPETITORS

  1. Le Campagne Tropicana. Ikegun Ibeju-Lekki LGA, Epe, Lagos. Provides Restaurant, Pool, Bar and Internet.
  2. Lekki Hotel and Suites. Elesekan, Off John Soares Avenue, Ibeju Lekki, Lekki-Epe Expressway, Lagos. Provides Restaurant and Bar.
  3. Amiras Paley Hotel. Oribanwa Lagasa Road, Oribanwa, Ibeju-Lekki, Lagos. Provides Restaurant, Bar and Internet.
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Table of content

Page

Executive Summary3
Introduction4
Business Description9
Products and Services9
Competitive Advantage12

Market Research15
Competitor Analysis15
Sales and Marketing Plan16
Operational Plan17
Business Risk20
Management and Structure20
Financial Plan and Projections21

Executive Summary

PATILAD Hotel is a state of the art comfort paradise, in the heart of Lagos.  We are equipped with the right facilities for lodging; featuring an intercontinental restaurant and bar with seasoned staffs, security and spacious parking space. We create pleasurable experience for our clients capitalizing on personalized service, intertwined traditional and modern architectural structure of our building and its unique location in one of the most bulging parts of Lagos. We are a premium lodging centre, recreation and event centre. We plan to create an environment of pampered luxury that surpasses anyone in our industry in Lagos. Expanding our exposure via the Internet and social media to people that have not yet discovered this year-round paradise will allow us to maintain a higher than average occupancy rate and above average profits.

PATILAD Hotel target market strategy is based on becoming a destination choice for the people visiting Lagos who are looking for a place to relax, recharge or want to do business. Our target market includes individuals or families looking for a serene yet engaging atmosphere in Lagos. This will include conference attendee, businessmen and women, honeymooners, tourists and drop-in customers. Our setting and facility is conducive enough to accommodate folks of different temperamental inclination. We operate a cozy just-like-home classic and exciting hotel. We also feature entertaining bands and comedians who are always a thrill to our guest, especially the weekenders. Other complimentary services include standard laundry, gymnastics services, car rentals and a medium-sized grocery store thus increasing our revenue channels.

Our restaurant is posed to increase in weekly sales as we provide world-class intercontinental dishes in the whole 2km area of the district. Our projection is without any significant increase in advertising or exposure, but is based on the general average increase in tourism and business travel in Lagos. Our major customer segments are locals, tourists, travellers, and drop-in customers.  We are available on all major hotel booking sites in Nigeria such as Hotels.ng, jumiatravels.com, wakanow.com and the likes.

PATILAD HOTEL is researching the market to identify potential opportunities for future sales in this rapidly changing environment. PATILAD Hotel’s long-term goal is to establish itself as an internationally recognized provider of top-of-the-line hotel services. This goal does not prohibit PATILAD HOTEL from participating in additional segments. It does, however, provide a corporate focus and a differentiated offering.  PATILAD HOTEL will begin operations with eighteen full-time positions. The positions are as follows; CEO, General Administrator, Waiters, Fitness Instructors, Cleaners, marketing and advertising and accountant.

Prices will be competitive with the remainder of the market. The company’s estimated sales for the first year of operations is approximately ₦87,750,000 with 25% annual growth for the next two years. Annual cash flow for the first year of operation becomes positive in the second quarter of operation.

Introduction

A common trend in the hotel and hospitality industry is that in recent time, with the advent of the internet and the general public accessing the Internet, many airline companies have started selling their tickets directly to their target market via their online portal.

So also, it is now easier for other business in the hotel and hospitality industry value chain to now directly sell their services via their online portal to their target market. Service providers such as airline companies, car rentals companies, cruise lines companies, hotels, railways, tourist sites managers and perhaps interpreters and security agencies et al. which is why you can’t find any airline company paying commissions to travel agents on each ticket they sold again.

The hotel and hospitality industry is in a continuous state of evolution and as such, ground breaking strategies and ideas that are once highly successful are no longer as productive as they were in time past. Close observation of the trend in the industry reveals that the past few years have seen the rise and proliferation of social media and new tech tools. The trend also extends to increased attention paid to engagement and new market segments, adopting eco-friendly measures and sustainability when planning hotel and hospitality marketing.

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