Hotel Business Ideas

This is Ram and my brother wants to start a hotel so please can you tell me some suggestive ideas for hotel business so that could help my bro to start a hotel

As you want some hotel business ideas then please look to the below side ideas

1. Decide on the type of hotel facility you want to open

First, you have to decide on the type of hotel you want to open. Hotels are categorized according to a number of factors. Some of these factors include:

The size of the hotel
Where the hotel is located
Type of services offered and the number of rooms available.
Some popular types of hotel include:

Budget Hotels
Resort Hotels
Airport Hotels
Suite Hotels
Business Hotels

2. Create an innovative concept
You can offer them complimentary breakfast, swimming pool, Jacuzzi, gymnasium, massage services, valet parking, and internet services.

3. Conduct a Feasibility Study
A feasibility study would help you to determine if it is a worthwhile business and how profitable the business would be

4. Determine your Ownership Structure
Hotel business requires a huge capital outlay hence you may need to bring in one or two investors.

5. Franchising
ne popular way of starting a hotel business is to buy the franchise of an existing reputable hotel business

6. Prepare a Kick-ass Business Plan
At this stage, you should have your professionally prepared business plan ready because this is what you would show to the bank or potential investors.

7. Secure funding or investment

8. Obtain necessary permit and business license

9. Staff recruitment

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Answered By StudyChaCha Member