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New Venture Creation Business Plan For A Five Star Hotel

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Question:

Discuss about the New Venture Creation Develop a Sustainable Business Plan for a Five Star Hotel with Modern Amenities/Facilities in Fiji.
 
 

Answer:

Business description

Our hotel ‘PARADISE KING’ shall be embellished in a magnificent and well-crafted frontage such that it will be an ostentatious edifice in Fiji. Fiji is a South Pacific country which has various exotic locations that attract many tourists and travelers from across the globe. Paradise King shall be located at Vanua Levu near the seashore over an area of 300 acres. Paradise King shall provide a propitious venue for our customers, where they can experience luxury and comfort.

The hotel shall have a VIP lounge spread over an enormous area along with a business centre. It shall have a fitness centre from where the beach shall be clearly apparent. It shall have a restaurant where variety of cuisines from all over the world shall be available. International chefs shall be hired for the restaurant and they shall be responsible for delivering luscious cuisines. Free Wi-Fi facility shall be provided to our guests for which they will not have to incur any costs.

Special business class rooms shall be available for our special guests who would be looking for a beyond five star experience. Our objective is to provide a comfortable homelike experience to our guests. We shall also take care of the entertainment quotient of our guests by periodically organizing musical night events near the sea beach where our guests will be able to live some unforgettable moments.

Paradise King shall be owned by (name of the student) and other investors. The board members of Paradise King are well-known investors who have been for a long time in hospitality sector. (Name of the student) has an experience of over 10 years in hotel management and has excellent knowledge of hotel management with a master’s degree in this subject. He will bring his knowledge and skills to make Paradise King the number one five star hotel in Fiji.

The following shall be the services and amenities provided by the hotel:

  • Lodging
  • International cuisines
  • All kinds of beverages
  • Fitness centre
  • Swimming pool
  • Free laundry services
  • Business centre
  • Conference room
  • VIP lounge
  • Club
  • Shuttle service
  • Free Wi-Fi facility

The following shall be the business structure of Paradise King:

  • CEO (Owner)
  • Hotel manager
  • Human resource manager
  • Accounts manager
  • Marketing manager
  • Assistant marketing manager
  • Maintenance manager
  • Front desk executive
  • Attendants
  • Bartenders
  • Cleaners
  • Security officers
  • Drivers

The following shall be the target customers for our hotel:

  • Business people
  • Travelers
  • Tourists
  • College students
  • Event managers
  • Government officials

Sales forecast:

The following is the sales projection of Paradise King based on the services and amenities provided by the hotel:

  • First year: $500000
  • Second year: $800000
  • Third year: $1200000
 

SWOT Analysis:

Strengths: We shall charge less than the other five star hotels operating in Fiji. We shall charge a fair amount from our customers and a little higher amount for our personalized services. Paradise King shall provide marvelous and personalized services to its customers according to their requirements. The excellent location of our hotel is going to be an additional advantage over the other hotels in Fiji. We shall have our own shuttle services, which shall be available 24*7 therefore, our guests need not stress over connectivity to the city.

Weaknesses: The initial amount of investment shall be $2 million to start Paradise King in Fiji. The amount is quite big to arrange for which we shall require more funds and investors.

Opportunity: Fiji has various exotic locations that attract many tourists and travelers from across the globe. There is a great opportunity for a hotel business in Fiji as the tourism rate is witnessing an upward trend over the past few years.

Threats: Our major competitor shall be Emaho Sekawa Resort and the other five star hotels in Vanua Levu.

Sustainability development measure of performance:

It is the responsibility of all businesses to improve its economic, social and environmental practices in order to ensure a sustainable business. Sustainability in business refers to the managing of the social, environmental and financial obligations, risks and opportunities.

The construction of our five star hotel shall not have any adverse impact on the environment as well as the society. We shall use renewable resources in the construction process and we shall also ensure that the biodiversity is not affected. We shall be using recycled construction materials. Our hotel shall ensure energy efficiency, conservation of water and proper waste management. All the environmental laws and norms shall be taken into consideration during the establishment of Paradise King.

 

Bibliography

Bernard, K. and Cook, S., 2015. Luxury tourism investment and flood risk: Case study on unsustainable development in Denarau island resort in Fiji. International Journal of Disaster Risk Reduction, 14, pp.302-311.

Crane, A. and Matten, D., 2016. Business ethics: Managing corporate citizenship and sustainability in the age of globalization. Oxford University Press.

Dzhandzhugazova, E.A., Zaitseva, N.A., Larionova, A.A., Petrovskaya, M.V. and Chaplyuk, V.Z., 2015. Methodological Aspects of Strategic Management of Financial Risks during Construction of Hotel Business Objects. Asian Social Science, 11(20), p.229.

Edgell Sr, D.L., 2016. Managing sustainable tourism: a legacy for the future. Routledge.

Finch, B., 2016. How to write a business plan. Kogan Page Publishers.

Gholipour, H.F., Tajaddini, R. and Nguyen, J., 2016. Happiness and inbound tourism. Annals of Tourism Research, 57(C), pp.251-253.

Holden, E., Linnerud, K. and Banister, D., 2016. The Imperatives of Sustainable Development. Sustainable Development.

Jamal, T. and Camargo, B.A., 2014. Sustainable tourism, justice and an ethic of care: Toward the just destination. Journal of Sustainable Tourism, 22(1), pp.11-30.

Madsen, D.Ø., 2016. SWOT Analysis: A Management Fashion Perspective.

Mattsson, J. and Orfila?Sintes, F., 2014. Hotel innovation and its effect on business performance. International Journal of Tourism Research, 16(4), pp.388-398.

Naidu, S. and Chand, A., 2014. International human resource management practices adopted by multinational corporations in the hotel sector of Fiji. International Journal of Management and Network Economics, 3(2), pp.156-168.

Pearce, D., Barbier, E. and Markandya, A., 2013. Sustainable development: economics and environment in the Third World. Routledge.

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