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Investigating the market feasibility of a hotel

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  1. Introduction to hotel industry
  2. History
  3. Health tourism and leisure travel
  4. International mass tourism
  5. Recent developments
  6. Trends and scope of the industry
  7. History of hotel industry
    1. From antiquity to the Middle Ages
    2. The start of the hotel industry
  8. Demand analysis
  9. Demand quantification
    1. Formulas and calculations
    2. Demand evaluation
  10. Technical details of the proposed project
    1. Air conditioning unit
    2. Powers
  11. Recommended market mix
    1. Definition of marketing mix
    2. Profile of the proposed hotel
    3. F and B outlets
    4. Pricing
    5. Promotion
    6. Advertising
    7. Publicity
    8. Personal selling
  12. Sales promotion
    1. Physical evidence
    2. Marketing tips to promote the proposed hotel
  13. Introduction to financial aspects of the proposed project
    1. Scope of finance
    2. Finance function
    3. Break even point
    4. Estimating capital requirements for a new hotel
  14. Term analysed
    1. Fund flow statement
    2. Working capital
    3. Break even analysis
    4. Land and machinery
    5. Plant and machinery
  15. Evaluation of a proposed investment
    1. Profitability
    2. Return on investment
    3. Cash flow
  16. Break even analysis
  17. Conclusion

Tourism is the act of travel for the purpose of recreation, and the provision of services for this act. A tourist is someone who travels at least eighty kilometers (fifty miles) from home for the purpose of recreation, as defined by the World Tourism Organization (a United Nations body). A more comprehensive definition would be that tourism is a service industry, comprising a number of tangible and intangible components. The tangible elements include transport systems - air, rail, road, water and now, space; hospitality services - accommodation, foods and beverages, tours, souvenirs; and related services such as banking, insurance and safety and security. The intangible elements include: rest and relaxation, culture, escape, adventure, and new and different experiences.

Many countries depend heavily upon travel expenditures by foreigners as a source of taxation and as a source of income for the enterprises that sell (export) services to these travelers. Consequently, the development of tourism is often a strategy employed either by a Non-governmental organization (NGO) or a governmental agency to promote a particular region for the purpose of increasing commerce through exporting goods and services to non-locals.

[...] In Europe, or more precisely in Belgium, Auberge Cour Saint Georges opened in Gant, while the Angel Inn was built at Grantham in Lincolnshire, England. The start of the hotel industry In France, at the beginning of the fifteenth century, the law required that hotels keep a register. English law also introduced rules for inns at that time. At the same time, around 1500 thermal spas were developed at Carlsbad and Marienbad. During this epoch, more than 600 inns were registered in England. Their architecture often consisted of a paved interior court with access through an arched porch. [...]

[...] RECOMMENDED MARKET MIX DEFINITION OF MARKETING MIX Melvyn Greene defines that ?marketing is basically seeking out a demand and then making the product or supplying the service to satisfy that demand. Selling is rather the other way round - creating a product or service and then trying to find a market for it. PROFILE OF THE PROPOSED HOTEL PLACE The location of the proposed hotel is decided while keeping in mind the high percentage of different types of clients in the city. [...]

[...] Market demand is the summation of demand for a product by all individual buyers in the market. The following factors influence the demand for a hospitality product at a particular place: Tourist inflow Transport facilities Growth in industry, business and trade High-income level and leisure time Private agencies like travel agent and tour operator Need to travel for pilgrimages, education, health care, recreation, etc. The reason which generates tourism and its client can be grouped under the following headings: business leisure others DEMAND QUANTIFICATION To analyze the data about the various hotels and calculate the requirement that the proposed hotel will have to meet in order to be feasible, we can use the following calculations. [...]

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