Business Plan for Budget Hotel Sri Lanka Assignment

Business Plan for Budget Hotel Sri Lanka - Assignment ExampleThe introduction and popularity of compute holiday package in the country is a great fillip to bet on budget hotels as an indispensable element of tourism manufacturing. A budget holiday package allows travelers to plan and book their take itineraries in conformity to their needs and preferences. An official source estimates that in the UK on that point were 22.5 million budget holiday makers in the year 2000 (Mintel). This backup plan covers al nearly all aspects of the proposed personal line of credit - both qualitative and numeric information- incorporated to substantiate the viability of the proposed project and business prospects. The Hotel is proposed to be started in a six storied twist at Narahenpita, Colombo-05, Sri Lanka. The location is found favourable for a budget hotel as the property has all introductory amenities such as three phase electricity, passenger lift and AC rooms (Appendix 3). The hotel ordain be set up as a joint break offnership business venture by Mr. I.T.H. Gamage and Mr. E. Bojang with equal share and it is proposed to be named as Budget Hotel Sri Lanka. The business opportunity was identified after an extensive look for into the market to venture a small budget hotel in Colombo City, Sri Lanka. It has been decided as part of the strategy that the hotel will offer simple but comfort, safe and secure place for an exceptional image to customers. The hotel will be targeting both domestic and international tourers who visit and plans to stay in Colombo. This region is the most sought after place for night stay as one of the official sources report that there were 982362 foreign and 380251 local guests who had opted this region for their night stay in 2007(Appendix 04). The hotel is mainly targeting low profile business travellers as well as those who visit the country for purposes like leisure, sport, and sightseeing (Appendix 13). The SWOT and PEST psychoan alysis affirm that though there are enough number of hotels and other locally generated accommodation in the city, the competition can, to a great extent, be mitigated through the cost leadership strategy (Appendix 9 and 10). Furthermore, the Porters Five Forces Model (Appendix 11) reaffirms the approach as the city is seriously lagging behind in opposition the travellers needs in an economical manner. Though the country has faced a decline in tourist arrival during 2006 and 2007 period owing to the internal political hardships (LTTE problem and probability of outbreak of a war), it is estimated that an yearbook increase of 20% is expected (Appendix 15), once the problem is solved. Mintels Forecast report also reiterates this estimate (Appendix 17). any these pin point the possibilities for the successful operations of the hotel and the opportunities to flourish in future. 2. MISSION STATEMENTThe mission of the venture is to become the leader in the budget hotel industry in Sri L anka, while ensuring growth in the business and its profits. This will be met through the achievement of the following objectives.2.1. ObjectivesTo be the leader in the budget hotel industry in Sri Lanka by providing standard, safe and comfortable accommodation to customers at affordable prices. Promoting responsible and sustainable tourism by pursuing environmentally friendly operational policies. Expanding the marketing and advertising campaign within Sri Lanka and our major international source markets.Ensuring fair