hotel business plan excel template

Hotel Business Plan Template

Written by Dave Lavinsky

Hotel Business Plan

You’ve come to the right place to create your hotel business plan.

We have helped over 100,000 entrepreneurs and business owners create business plans and many have used them to start or grow their hotel companies.

Sample Hotel Business Plan Template

Below is a template to help you create each of the key elements of your own hotel business plan:

Executive Summary

Business overview.

Pegasus Hotel is a startup full-service independent luxury hotel in Austin, Texas. Owned by two local businessmen, Frank Girard and Miles Butler, it will serve the new up and coming district of the outskirts of Austin and cater to the locals and travelers who crave a luxurious and relaxing atmosphere. Pegasus Hotel will be a 10-story, 360-room hotel with a five-star restaurant and bar, relaxing pool and spa, 20,00 square feet of meeting and event space, a spacious and fully-equipped fitness center, and a view of scenic Austin. Pegasus Hotel will hold weddings and events, meetings, retreats, and those looking to unwind and be pampered while staying at the hotel. The service and amenities will be first class and the concierge will treat guests with extreme care and ensure guest satisfaction is held at an exceptional standard..

Service Offering

The following are the services and amenities that Pegasus Hotel will provide:

• 354 luxury rooms, two presidential suites, and four parlor suites
• Olympic size pool with adjacent hot tubs and surrounding cabanas
• First-class full-service spa
• First-class restaurant and bar
• Spacious fitness center
• Over 20,000 square feet of attractive meeting space for events
• Concierge and butler service
• Complimentary wifi
• Valet service
• Laundry service
• Business center

Customer Focus

Pegasus Hotel will target the population of Austin, Texas, its surrounding communities, and travelers visiting Austin for work or play. Guests will be mid to high level income, enjoy traveling, enjoy visiting spas and high-end restaurants, and work in the corporate or government sector.

Management Team

Pegasus Hotel will be owned by Frank Girard and Miles Butler. They will act in an Owner capacity, and will not be involved in the day to day operations of the hotel. Frank and Miles will hire the appropriate staff to ensure Pegasus Hotel is a profitable and successful business.

Lorenzo Falucci, General Manager, has over twenty years of experience in the hotel industry. He has most recently managed another independent boutique hotel in New York and was excited to be recruited by Frank and Miles to operate the Pegasus Hotel.

Lorenzo will hire Lisa Montgomery as the Director of Sales and David Jimenez as the Assistant General Manager. Lorenzo, Lisa, and David will be the senior management team of Pegasus Hotel. They will oversee all other department managers – Maintenance, Housekeeping, Front Desk/Guest Relations, and Food and Beverage. Each department manager will oversee various employees in their respective department and role. The Pegasus Hotel will have a large and sophisticated operation as each department is integral in the success of the hotel.

Success Factors

Pegasus Hotel will be able to achieve success by offering the following competitive advantages:

• Friendly, attentive, and highly responsive staff that caters to each guest and will be able to provide the best guest experience possible.
• Luxurious amenities throughout the hotel that will make each guest feel pampered.
• Modern and contemporary designed hotel tucked against a beautiful Texas landscape perfectly suited to host any event.
• Competitive rates and frequent guest discounts.

Financial Highlights

Pegasus Hotel is seeking $10,000,000 in debt financing to begin constructing the hotel and commence operations of the business. The funding will be dedicated towards securing the land lease and the hotel build-out and design. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff, furniture, fixtures, and equipment, initial inventory, and working capital. The breakout of the funding is below:

• Secure the land lot, architecture, build-out, and design: $6,000,000
• Hotel furniture, fixtures, and equipment: $2,000,000
• Initial inventory: $750,000
• Three months of overhead expenses (payroll, rent, utilities): $1,000,000
• Marketing & advertising: $150,000
• Working capital: $100,000

The following graph below outlines the pro forma financial projections for Pegasus Hotel.

Company Overview

Who is pegasus hotel.

Pegasus Hotel is a startup full-service independent luxury hotel in Austin, Texas. Owned by two local businessmen, Frank Girard and Miles Butler, it will serve the new up and coming district of the outskirts of Austin and cater to the locals and travelers who crave a luxurious and relaxing atmosphere. Pegasus Hotel will be a 10-story, 360-room hotel with a five-star restaurant and bar, relaxing pool and spa, 20,00 square feet of meeting and event space, and a view of scenic Austin. Pegasus Hotel will hold weddings and events, meetings, retreats, and those looking to unwind and be pampered while staying at the hotel. The mission statement of the hotel is to provide first class service and amenities.

The guests rooms will include luxury beds and bedding with best-in-class furniture and bathroom fixtures. Pegasus Hotel will also have a full-service spa that will be able to provide massages, facials, makeup and/or hair service, steam rooms, and a sauna. The Olympic-sized pool will have adjacent hot tubs with a swim-up bar and surrounding cabanas. Pegasus Hotel will be equipped with state-of-the-art fitness equipment in its spacious gym. The restaurant will be a high-end steakhouse that will feature entrees from a world-renowned chef and a wine list cultivated by the area’s most respected sommelier. There will also be over 20,000 square feet of meeting space that will hold weddings, bat mitzvahs, reunions, galas, and any special event.

Pegasus Hotel will be independently owned and operated and will feature its own reservation system and operational software. Each employee will be expertly trained and vetted to pass luxury industry guest service standards. Pegasus Hotel is committed to providing the best guest experience possible while maintaining a profitable hotel. Pegasus Hotel aims to be a step above the rest and be an unforgettable experience for all who step foot into the hotel.

Pegasus Hotel History

Pegasus Hotel is owned by two local businessmen, Frank Girard and Miles Butler. Frank and Miles have been friends and business associates for over thirty years. They became friends in college while attending The University of Texas at Austin. Frank is a real estate developer specializing in commercial real estate and multi-use land projects. Miles is a software engineer who has built multitudes of software programs for various companies. They have both been extremely successful in their careers and want to divest their investments in a large-scale full-service hotel in Austin, Texas.

Since incorporation, Pegasus Hotel has achieved the following milestones:

• Acquired a 40-acre lot on the outskirts of Austin, Texas.
• Registered Pegasus Hotel, LLC to do business in the State of Texas.
• Hired a consultant to conduct a feasibility study for a full-service hotel in Austin.
• Began developing reservation and operational management software for use at the hotel.
• Began the branding image, logo, website, and social media accounts for the staffing agency.
• Applied for a liquor and mixed beverage permit with the Texas Alcoholic Beverage Commission.
• Hired an architect to begin the design phase of the hotel.

Pegasus Hotel Services

The following will be the services and amenities Pegasus Hotel will provide:

Industry Analysis

The hotel industry is expected to increase to a $133 billion in the next five years. The hospitality industry will benefit from increases in travel spending, corporate profit and general consumer spending.

As consumers earn higher incomes and businesses replenish their budgets, travel spending is projected to increase over the next five years. Inbound trips by non-US residents are anticipated to rise 22% over next the five years, while domestic travel is expected to grow 9% during the same period.

The industry will see particularly strong future growth in extended-stay hotels, boutique hotels, spa and health retreats and resorts segments. As demand for these auxiliary services picks up, industry employment is anticipated to recover and increase over the next five years. Industry players are also expected to continue expanding abroad into emerging economies, such as Asia, Eastern Europe and South America. These foreign markets are expected to somewhat detract from domestic capital investment, as they offer higher growth prospects for industry operators.

Customer Analysis

Demographic profile of target market.

The precise demographics for Austin, Texas are:

Customer Segmentation

Pegasus Hotel will primarily target the following customer profiles:

• Individuals and families who have disposable income (mid to high level)
• Frequent travelers
• Individuals who dine out and visit spas frequently
• White collar workers (corporate or government office)

Competitive Analysis

Direct and indirect competitors.

Pegasus Hotel will face competition from other companies with similar business profiles. A description of our direct competitors is below.

Hotel Ella is a historic boutique hotel located in Austin, Texas. Located in downtown Austin and walking distance to the University of Texas campus, Hotel Ella is a stylish boutique hotel housed in the historic Goodall Wooten House, one of Austin’s original landmark estates. Constructed in 1900, the Greek revival-style mansion underwent an extensive renovation in 2013, and now offers the perfect balance between modernity and a rich history rooted in the fabric of the neighborhood and the university. Hotel Ella has 47 guest rooms, a cabana-lined pool, and a wrap-around veranda overlooking the front lawn. Hotel Ella features beautifully designed outdoor and indoor spaces perfectly suited for a vacation, wedding, or corporate event. The hotel also features a diverse collection of Texas Modernist works around the hotel grounds.

All guests of Hotel Ella are treated to warm southern hospitality and superior personalized service during their stay. The historic property is appointed with a variety of elegant 21st century amenities. Hotel Ella also offers the following amenities and guest services:

• Complimentary 24-hour guest services
• Complimentary high-speed wi-fi access
• Complimentary electric car charging station
• Complimentary morning newspapers available in the historic mansion
• Complimentary coffee stations from 5am – 11am
• Twice-daily housekeeping service
• Cabana-lined outdoor pool
• Fitness center
• Same-day valet laundry services
• In-room dining by Goodall’s
• Business services: photocopying, printing, postal services, and supplies

Hotel Ella also welcomes dogs of all sizes at no additional fee.

Kimber Modern

Kimber Modern is located in the hip SoCo district of Austin and is intended to draw in the independent urban traveler seeking a unique escape. It is architecturally designed with clean lines and abundant light filtered through canopies of oaks in an artfully landscaped Courtyard. The hotel also encompasses absolute comfort and attention to detail while providing technologically sophisticated rooms in their boutique guest rooms. Guests booking at Kimber Modern will receive complimentary beverages, parking, and WiFi.

Kimber Modern offers the following hotel amenities to its guests:

• Off street covered parking
• Electric car charging station
• Keyless entry
• Complimentary WiFi throughout the hotel
• Multi-level courtyard with a 25-foot glass water feature with multiple areas to lounge
• Jura self-serve coffee system featuring a variety of coffee drinks 24/7
• Beverage bar 24/7
• Gourmet teas
• Virtual concierge – computer, printer, and copier
• Meeting space available for groups
• 3pm check-in and noon check-out

Guests are also available to book the entire hotel for their group.

The Cat Noir Hotel

The Cat Noir Hotel is an award-winning 14-room boutique hotel located in the heart of Austin’s east side. The European-styled boutique hotel includes a restaurant and bar partner, Uncle Nicky’s Italian Specialties. Uncle Nicky’s offers a relaxed all-day dining experience that is themed after cafes in northern Italy. The Cat Noir Hotel opened in 2016 and has been ranked #2 by Travel + Leisure’s World’s Best Awards and Top 20 Best Hotels in Texas by Conde Nast Traveler.

The Cat Noir Hotel’s contemporary design maintains a sense of warmth and a unique aesthetic that is felt through the lobby, outdoor spaces, and each of the unique guest rooms. In addition to the design elements, The Cat Noir Hotel boasts the following features:

• Private roof deck for guests to enjoy the stunning views of downtown, the Texas Capitol, and the University of Texas
• Outdoor patio and courtyard areas on all levels
• Artwork from local artists

Each of the guest rooms include Juliet balconies with neighborhood views, fine linens, and Simmons luxury plush mattresses.

Competitive Advantage

Pegasus Hotel will be able to offer the following advantages over their local competition:

Marketing Plan

Brand & value proposition.

Pegasus Hotel will offer the unique value proposition to its target local market:

• Professional and attentive staff dedicated to ensure complete guest satisfaction.
• Various amenities throughout the hotel for any guest to enjoy.
• Modern and contemporary design with beautiful Texas views throughout the entire hotel.
• Competitive rates.

Promotions Strategy

The promotions strategy for Pegasus Hotel is as follows:

Social Media

Pegasus Hotel will invest in advertising the hotel on social media platforms Facebook, Instagram, LinkedIn, and Twitter. By using targeted social media marketing, Pegasus Hotel will be able to reach those who frequent nice restaurants and spas and travel frequently.

Website/SEO Marketing

Pegasus Hotel will invest in a strong SEO presence so that when someone enters “Austin boutique hotel” or “first class hotel near me” in their Google or Bing search bar, Pegasus Hotel is at the top of the list. Their website will feature photos of the guest rooms, meeting areas, pool, spa, fitness center, and restaurant/bar. Future guests will be able to make a reservation to book their future stay on the website and access contact information for either a Director of Sales or General Manager of the property.

Pegasus Hotel will request all requests for news stories regarding the development of the hotel, owner/developer information, opening dates, etc. By accommodating the press’ requests for stories, it will also be free advertising for the public to learn about the new up and coming luxury hotel.

Frank and Miles will invest in a billboard in downtown Austin where the mid to upper class of residents frequent. The hotel will be minimalistic but eye-catching. It will feature an attractive rendering of the hotel along with the website. Curious passersby will be directed to visit the hotel’s website for detailed information.

Third Party Booking Websites

Once the hotel is nearing 60 days towards opening, all of the third-party websites will feature Pegasus Hotel so that travelers visiting Austin will be able to see it listed as an option for Austin hotels.

Bridal Shows and Wedding Industry Events

Pegasus Hotel will have a table at all of Austin’s bridal shows and wedding industry events. It will attract those couples searching for a venue to accommodate their special day.

The pricing of Pegasus Hotel will be moderate and on par with competitors so customers feel they receive value when purchasing its guest rooms and services.

Operations Plan

The following will be the operations plan for Pegasus Hotel.

Operation Functions:

• Frank and Miles will be the owners of the hotel and hire the appropriate staff to manage the hotel. Frank will act as CFO of the hotel and Miles will be in charge of the reservation system and hotel operations software. Miles developed the software and will focus on making sure it’s always functional and efficient.
• General Manager will be hired to oversee the entire staff and hotel operations to include guest satisfaction, oversee vendor contracts, events, and making sure that each department is running effectively and efficiently.
• Assistant General Manager to assist the General Manager with overseeing the staff, with particular attention to guest satisfaction and front desk operations.
• Director of Sales will be hired to sell events, corporate accounts, and group bookings for the hotel.
• Maintenance Engineer will be hired to attend to all mechanical and plumbing issues that may arise.
• Executive Housekeeper will be hired to lead the team of housekeepers to make sure all areas of the hotel are being cleaned to Pegasus Hotel standards and that each guest is receiving all accommodations to their requested schedule.

Milestones:

Pegasus Hotel will have the following milestones completed in the next six months.

8/1/202X – Purchase land lot and break ground on new hotel business.

8/15/202X – Finalize architectural renderings and hire a General Contractor to build the hotel.

9/1/202X – Finalize contract with advertising company for them to design the branding image of the hotel, logo, website, billboard, and social media accounts.

9/15/202X – Begin social media and website advertising campaign. Billboard with a teaser of ‘Coming Soon’ will go up in downtown Austin.

10/5/202X – Hire General Manager and Director of Sales.

10/15/202X – Attend annual Wedding Industry Event with a table to begin advertising Pegasus Hotel.

11/1/202X – Pegasus Hotel will go live on third party booking websites.

11/15/202X – Remainder of staff will be hired to begin training program.

11/30/202X – Final walk-thru of newly constructed Pegasus Hotel.

12/15/202X – Begin furnishing and interior design of the hotel.

1/1/202X – Grand Opening of Pegasus Hotel.

Lorenzo will hire Lisa Montgomery as the Director of Sales and David Jimenez as the Assistant General Manager. After an exhaustive search, Lorenzo believes has found the next two senior management positions to ensure the success of the hotel. Each comes with an impressive resume of prior hotel sales and operational experience.

Lorenzo, Lisa, and David will be the senior management team of Pegasus Hotel. They will oversee all other department managers – Maintenance, Housekeeping, Front Desk/Guest Relations, and Food and Beverage. Each department manager will oversee various employees in their respective department and role. The Pegasus Hotel will have a large and sophisticated operation as each department is integral in the success of the hotel.

Lorenzo, Lisa, and David will meet with Frank and Miles monthly to update them on progress and overall operations and sales efforts of the Pegasus Hotel.

Financial Plan

Key revenue & costs.

The revenue drivers for Pegasus Hotel are the revenues it will collect when guests book a reservation at the hotel. The hotel will also collect revenues from its restaurant and bar, spa, and events it will host.

The cost drivers will be the payroll and overhead costs to staff the hotel. Other costs will involve the land lease, utilities, marketing costs, and technology fees. There will also be costs associated with the maintenance of the hotel, food and beverage inventory, spa inventory, and hotel guest room supplies.

Funding Requirements and Use of Funds

Key assumptions.

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

• Initial Number of Room Nights Sold per Month: 8,000
• Number of Events per Month: 30
• Land Lease per Year: $1,500,000

Financial Projections

Income statement, balance sheet, cash flow statement, hotel business plan faqs, what is a hotel business plan.

A hotel business plan is a plan to start and/or grow your hotel business. Among other things, it outlines your business concept, identifies your target customers, presents your hotel marketing plan and details your financial projections.

You can  easily complete your hotel business plan using our Hotel Business Plan Template here .

What Are the Main Types of Hotel Companies?

There are many types of hotel companies. Most hotels are affiliated with a hotel franchise company. Other hotel companies distinguish themselves by star level-  4 to 5-star hotels are on the higher end of rate and amenity offerings, whereas 2 to 3-star hotels cater more towards the everyday business travelers and families.

What Are the Main Sources of Revenue and Expenses for a Hotel Business?

The primary source of revenue for a hotel business are the room fees it charges each guest to stay at the hotel. Revenues are also collected for different amenity offerings, such as room service,  restaurant and bar revenue, spa revenues, and guest shop revenue.

The key expenses for a hotel business are the costs for inventory, maintenance, supplies, furniture, fixtures, and equipment, technology, and payroll of the staff. Other expenses will be the rent, utilities, and overhead costs, if applicable.

How Do You Secure Funding For Your Hotel?

Hotel businesses are most likely to receive funding from banks. Typically you will find a local bank and present your business plan to them. Angel investors and other types of capital-raising such as crowdfunding  are other common funding sources. This is true for a business plan for a hotel, a resort or a boutique hotel.

What are the Steps To Start a Hotel Business?

Starting a hotel business can be an exciting endeavor. Having a detailed roadmap of the steps to start a business will help you stay focused on your business goals and get started faster.

• Develop A Hotel Business Plan - The first step in starting a business is to create a comprehensive business plan that outlines all aspects of the venture. This includes market research to identify the potential market size and target audience , the hotel’s services, pricing strategies and a detailed financial forecast.  
• Choose Your Legal Structure - It's important to select an appropriate legal entity for your hotel business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your hotel business is in compliance with local laws.
• Register Your Hotel Business - Once you have chosen a legal structure, the next step is to register your hotel business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 
• Identify Financing Options - It’s likely that you’ll need some capital to start your hotel business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 
• Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 
• Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 
• Acquire Necessary Hotel Equipment & Supplies - In order to start your hotel business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 
• Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your own hotel business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective digital marketing strategy including SEO and paid advertising . You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a new hotel business:

• How to Start a Hotel Business

Where Can I Get an Example Hotel Business Plan PDF?

You can download our example hotel business plan PDF template here . This is a business plan template you can use in PDF format.

Other Helpful Business Plan Templates

Franchise Business Plan Template Resort Business Plan Template Bed and Breakfast Business Plan Template

• Property Management System
• Channel Manager
• Booking Engine
• Marketplace
• Revenue Management
• Cloudbeds Payments
• Cloudbeds Amplify New!
• Whistle for Cloudbeds New!
• B&Bs and Inns
• Hotel Groups
• Vacation Rentals
• Channel Connections
• Ambassador Partner Program
• Cloudbeds Horizon
• Become a Partner
• Case Studies
• Resource Center
• Guides & Reports
• Calculators
• What to Expect
• Customer Success
• Knowledge Base
• Product Updates
• Cloudbeds University
• Government Compliance
• Company News
• Meet the Team
• Careers We're Hiring!
• Become an Ambassador
• Event Schedule
• Cloudbeds Amplify
• Whistle for Cloudbeds

From idea to execution: 10 sections to include in your hotel business plan

Stay up to date with the latest trends, insights and technology for hoteliers.

• First name *
• Last name *
• Property Name *
• Property Type * Property type* Hotel Bed and Breakfast Hostel Apartment Groups Vacation Homes Alternative Accommodations
• How many listings do you have?
• How many Addresses does your business have?
• * English Spanish Portuguese Franch Vietnamese Japanese Thai Italian

By Lana Cook

Do you love connecting with people from all over the world who share your passion for travel? Don’t want to work a typical 9-5 job and instead want to build a business where every day is different, and you own your schedule?

Starting a hotel business is a dream many entrepreneurs have, but it can be a daunting venture to start. A hotel business plan is a critical first step for business owners to turn their dreams into reality. A strategic plan allows one to study the hotel industry, identify their hotel’s unique point of view, and outline how exactly they will reach their goals.

Read on to learn more about the ten sections to include in your hotel business plan, tips for creating an effective plan, and key things you need to start your new hotel business.

Ready to get started creating your plan? Download our hotel business plan template.

What is a hotel business plan?

A hotel business plan is a detailed document that identifies your business’s goals, objectives, and strategies for success. It includes market research and a roadmap for building and operating your business.

Why do you need a hotel business plan?

Studies show that entrepreneurs who finished their business plan were twice as likely to succeed in growing their business than those with no plan. A hotel business plan:

• Helps you identify whether you have a viable business idea
• Provides a detailed roadmap on what you need to accomplish and why
• Gives potential investors insight into your business idea and confidence that you can be successful
• Keeps you on track as you start to execute the different tactics outlined in your plan
• Identifies critical milestones for you and your team to reach

Your plan does not have to be static and should change over time as your business grows and evolves. Your first draft is a starting point to help guide your strategy and instill confidence in potential investors.

10 sections to include in your hotel business plan

Whether you’re starting a small boutique hotel, a cozy B&B, or a 5-star resort, you will need to address the following sections in your hotel business plan.

1. Executive summary

An executive summary is the most essential part of your business plan. It should concisely explain the purpose of your business and why it will be a success.

Include your mission statement explaining why your hotel exists and its overall goal. For example, Capella Hotels & Resorts ’ mission is to combine tradition, discovery, individuality, and twist of the unexpected to create the perfect stay for each guest.

You should also include your vision statement that clearly describes your hotel’s purpose for being in a single sentence. For Capella Hotels, its vision is to embody excellence in the craft of hospitality.

We recommend writing your executive summary as the final stage, as it should summarize the goals and objectives laid out in your plan.

2. Company analysis

Your company analysis is where you can dive into your hotel’s competitive advantage. Ask yourself what makes your hotel unique . Why would guests want to stay with you instead of your competitors?

In this section, identify your brand’s identity and the goals and objectives you want to accomplish. Outline how many rooms and room categories your property will have. For example, will you offer a hybrid hospitality model with dorms, single rooms, and suites? Explain what ancillary revenue sources you’ll offer, like in-room food and beverage options, welcome drinks, or airport shuttles.

Use storytelling to communicate your excitement and passion and make it clear what your hotel will bring to the hospitality industry that hasn’t been done before.

3. Industry analysis

As a business owner, you must be prepared for forces outside your control. You will need to conduct a market analysis that looks at the hospitality industry to identify micro and macro trends that may impact your business. Look at:

• Economic trends
• Environmental trends
• Political trends
• Global health trends
• Technology trends

For each trend, identify how it will impact your business and ways to mitigate risk or take advantage of opportunities.

For example, digital check-in technology has increased across the hotel industry with the rise of tech-savvy guests, new innovative software providers, and labor challenges. Therefore, consider what guest experience solution you’ll include at your hotel.

In addition to trends, look at the history of the hospitality industry, its current size, and how it’s expected to grow in the short and long term. This research will impact the rest of your plan, especially your marketing and financials.

4. Customer analysis

What type of hotel guests do you want to attract? It’s impossible to please every kind of guest, which is why it’s important to identify your target market . Once you know who you want to stay at your property, you can develop amenities, services, and marketing materials to attract these guests and deliver exceptional experiences .

Ask yourself:

• What type of guests do I want? Business or leisure travelers? Retirees or Gen-Z?
• What demographics? Age, gender, marital status, etc.
• What are my target market’s interests? Water sports, hiking, relaxation, museums, etc.
• What does my target market value? Sustainability, contactless technology, personalized service, localized experiences, etc.

This section will help you formulate the guest experience to ensure that expectations meet reality .

5. Competitive analysis

The competition you face will vary depending on where your hotel is located. In this section, you should conduct in-depth competitor research to understand how your hotel will compare. Identify your five major competitors — ideally, three direct competitors you will be competing with upon opening and two aspirational competitors you can emulate as you grow your business.

Conduct a SWOT analysis based on your competitors to look at:

• Strengths . Where does your property excel in comparison to competitors? Why would travelers pick you? Price, amenities, location, technology, etc.
• Weaknesses . Where does your property fall short in comparison to competitors? Price, amenities, location, technology, etc.
• Opportunities . What industry trends can you take advantage of? What local events or partnerships can you capitalize on?
• Threats . What are the biggest threats facing your property? War, travel restrictions, recession, etc.

A thorough analysis can help solidify your competitive advantage and develop a contingency plan for how you will deal with your weaknesses and threats.

6. Marketing plan

Without demand, there is no business. A hotel marketing plan outlines the channels you’ll use to reach your target audience to drive bookings. Your marketing strategy should include three key channels:

1) Paid media . Paid advertising to promote your property and drive bookings. This includes online travel agencies (OTAs) , search engine marketing (SEM), retargeting, and metasearch advertising.

2) Owned media. The content  you create, like your hotel website , social media channels, blog posts, and SEO.

3) Earned media. User-generated content created by third parties like media coverage or online reviews.

7. Operations plan

How do you plan to run your day-to-day operations? This section of your plan will outline all of the key tasks and responsibilities of your team and what exactly your hotel will offer. Consider:

• The number of staff and supervisors required
• Job descriptions and responsibilities
• Your service standards (check out our downloadable SOPs for some inspiration)
• How you’ll manage your inventory
• What hotel technology solutions will you need? PMS, channel manager, booking engine, payment terminal, revenue management tools, guest engagement software, etc.
• What services and amenities do you want to offer? Room service, bar, restaurant, pool, spa, wellness center, etc. 

Detail your short and long-term operational plans and the stakeholders involved for each area.

8. Management team

Whether or not you’ve hired your team yet, this is one of the most important sections potential investors will look at. Make sure to outline the key personnel you will require and their roles. 

In general, these are the following roles you’ll want to outline:

• Hotel management (general manager, front office manager, housekeeping manager, maintenance manager, revenue manager)
• Hotel sales team
• Housekeeping staff
• Front office staff
• Maintenance

Depending on the size of your hotel, your team will vary. Identify the team members you need to open and your hiring plans over the next five years.

9. Strategic plan

Hoteliers must be strategic in optimizing occupancy rates across seasons to maintain revenue. As part of your strategic plan, identify how you will manage:

• Pricing – what room types will you offer, and how will the pricing vary?
• How will you maintain consistent occupancy throughout the high and low seasons? Will you adapt your pricing and marketing strategies?
• How will you conduct revenue management ? What type of rules/alerts will you use to adjust rates? Will you use technology to help with revenue management?
• What will your online reputation management strategy be? How will you collect and respond to online reviews?
• What will your distribution mix look like? How will you drive reservations across a variety of channels?

10. Financial plan

Your financial projections are the most challenging but arguably the most crucial part of your hotel business plan. In this section, you should include the following:

• Start-up costs. How much money will you need from lenders to operate your hotel? Consider business licenses, furniture, down payments, etc.
• Operating costs . How much money will you need to keep your business running? Consider staffing costs, guest acquisition costs, mortgage payments, utilities, SaaS payments, etc.
• Income statement . What will your revenue, expenses, and profit be over the first 3-5 years of business?
• Cash flow projections . How will cash flow in and out of your business? Show what capital investment you’ll need to start.
• Balance sheet . Identify your assets, liabilities, and equity.

If you’re looking for a potential investor, your financial plan will be the section they care about most. Here, you must prove how your business will provide a return on investment. Don’t forget to include an Appendix that shows more detailed reporting and financial figures.

8 tips for creating an effective plan

1. Start with the section that excites you the most! Covering all the topics outlined above can feel overwhelming, so don’t feel pressured to go in order.

2. Reach out to a business owner you admire. No matter what type of business you’re starting, getting advice from another business owner is always helpful. Reach out to a successful local business owner to see if they’d be willing to share some insights they learned along the way.

3. Be concise. While there’s a lot to cover, you must be concise in each section of your plan. Include any additional research or documentation in the appendix to keep your business plan clean.

4. Try to avoid industry jargon. Depending on what type of investor is reading your plan, they may find jargon irrelevant and distracting.

5. Ensure you have a clear competitive advantage. You should be able to state in one sentence what makes your property unique. This unique selling point (USP) will be prominent in all of your marketing materials.

6. Set SMART goals. Setting specific, measurable, achievable, relevant, and time-bound goals is important to stay organized and on track to reach milestones.

7. Don’t forget about your plan. You will have spent hours developing your plan, so make sure you use it! Reference your plan as you build and grow your business , and remember that it’s ok if things change.

8. Illustrate your passion. Communicate why you want to be a part of the hospitality industry. Passion is contagious and gives investors more confidence that you will work hard to achieve your dreams.

What do you need to start a hotel business?

Ok, so you’ve read through this article and are now wondering — what’s next? Ensure you have the following items on your radar to start your business.

• A vision. Know exactly what kind of business you want to build (a quaint bed and breakfast is very different from a large-scale resort).
• A business plan. Stay on track with a well-developed business plan.
• A location. Decide if you want to build a new property or renovate an existing hotel.
• Capital. Do you need to raise an upfront capital investment? Remember that new businesses usually aren’t profitable for the first few years and will need cash flow to pay for expenses.
• Business licenses & permits. Depending on the type of property and its services, you’ll need an occupancy permit, alcohol license, food service license, sales tax license, etc.
• Technology. Choose technology to help streamline operations and earn more revenue.
• Furniture & equipment. You must furnish your property with the proper furniture, electronics, appliances, etc.
• Staff. Take time hiring staff you can trust and who understand your hotel’s brand and vision.

Final thoughts

Your business plan provides the foundation for your new business and outlines the next steps in the journey. Ensure you fully understand the market and competitive landscape to enter the industry prepared for the future. Start slow and invest in the right people and technology to support the growth of your business.

Looking to start a hotel? Download the technology guide. Download now

About Lana Cook

Lana Cook is a Content Writer at Cloudbeds where she is able to combine her love of writing and passion for travel. She has spent the last few years writing about all things technology and the ways in which it can be used to help businesses thrive. When she’s not busy writing, you can find her checking out the latest movie or searching for a new TV show to binge.

Hotel business plan

You might also be interested in..., hotel crs: what it is and how it helps the bottom line, cloudbeds unveils inaugural state of hostels report, an introduction to hotel accounting.

Distribution Strategy

Cloudbeds News

Cloudbeds Product Updates

Guest Experience

• Property Name
• Property Type Property type* Hotel Bed and Breakfast Hostel Apartment Groups Vacation Homes Alternative Accommodations
• Postal Code
• Language for your demo English Spanish Portuguese Franch Vietnamese Japanese Thai Italian
• Cloudbeds Hospitality Platform
• Cloudbeds Websites
• Ambassador Program
• Terms of Service
• Privacy Policy
• Data Security
• Cookie Policy
• Accessibility

• Revenue Management Consulting
• Resort Revenue Management
• Revenue Management Outsourcing
• Revenue Manager for Hire
• Hotel Operator Company
• Boutique Hotel Management
• Resort Management
• Hotel Pre-Opening Services
• Hotel Turnaround Management
• Hotel Franchise
• Independent Hotel Chain
• Hotel Representation
• Hotel Owner Representative
• Hotel Concept Development
• Hotel Asset management
•    LinkedIn
• NL +31 205 320 433
• UK +44 203 966 5658
• BE +32 258 890 25
• ES +34 931 641 801
• FR +33 973 038 902
• US +1 202 870 5081

Hotel Business Plan

OK, so you have decided to realize your dream and open your own hotel . You have thought out an amazing concept delivering unparalleled guest service. The next step would be to write a hotel business plan. It’s like a road map to the opening. However, as a seasoned hotel management company , we have seen that this is where most entrepreneurs get stuck.

Why? Many do not have the time and don’t know what to write or how to do the financials. But until you finish your business plan, you will not be able to get the financing either. So you end up with ideas sitting in your head not realizing your dream.

Really it is not that difficult to make a good hotel business plan. It is merely a structured summary of your idea. Most people try to include everything about their hotel concept in the plan. This leads to an indigestible super novel-like bookwork, aka a mess.

The key is, knowing what to include, and what not to include in your hotel business plan. Create a clear road map for success. Excite investors rather than bore them to death like most business plans full of redundant information do. And you need to lead readers down the exact path you want.

One of the main challenges for example is that after reading the first page most businesses often don’t fully understand what the hotel is all about. For investors and lenders, it is crucial they can quickly comprehend your plan, without reading the whole document.

Hotels 101: The Basics of Business Planning

We have put together a hotel business plan template to help you on your way. Check out our approach based on 10 critical points, being:

• Executive Summary
• Company Analysis
• Industry Analysis
• Customer Analysis
• Competitive Analysis
• Strategic Plan
• Operations Plan
• Management Team
• Financial Plan
• Key Milestones

Steps of your Hotel Business Plan

Let’s dive into the step-by-step checklist of what your hotel business plan should look like.

Infographic by Xotels

1. Executive Summary

This first part should consist of two main parts, being:

• Mission Statement (Introduction): a 1 line company description only the essence of your hotel (not 2 lines or a paragraph). It explains why you are in business or which huge need you are solving, that currently is not being met. For example in the case of Qbic Hotels “Moving modular hotels into under-utilized real-estate to reduce build-out cost and time.” 
• Objectives : What do you hope to accomplish (i.e. “Reach an annual occupancy of 90%”).

 2. Company Analysis

More detailed information on the USPs (unique selling points) of your hotel concept.

3. Industry Analysis

Information on the current industry trends and the current state of the market and how this will impact your hotel. This is needed as investors want to be sure you really understand the hotel industry. This acts as the foundation on which decisions such as trends and developments to follow will be based.  

Streamline Your Hotel Operations

We guide hotels and resorts toward unparalleled success, positioning them as market leaders.

4. Customer Analysis

In-depth information on your target market, including geographic, demographic, socioeconomic, psychographic, and behavioural segmentation details. It can also help you to keep up to date with the latest hotel marketing trends to understand which are the types of guests who will be staying at your hotel. Explain which features will be meeting the needs and wants of these main segments when thinking of:

Basically, how will consumers answer this question ‘Why my hotel?’

Aim to break it up to the point value can be easily communicated (do not make it too overcomplicated). Think of the following examples:

• Psychographics: interests, lifestyles, personality, values, opinions, and attitudes
• Behavioural segmentation: purchasing behaviour, level of engagement, customer loyalty
• Demographics: gender, age, marital status and education
• Geographics: location (country, state, region, city)
• Socio-economics

Any of the above examples of hotel segmentation can, if described well, be of great value to your business plan. An example of this could be a hotel located in a beach town, where you should be able to describe how demographics and psychographics differ from summer to winter time. Especially, since this example is typically known for lower demand in winter which you could be compensating for with the right hotel marketing strategies on hand.

5. Competitive Analysis

A study of your local competition or global concept competitors, with each of their strengths, weaknesses, occupancy rates and market share ( SWOT analysis ). And don’t forget the most important part; what differentiates you from them. What makes you stand out?

Ask yourself: “can I add value to a specific area”, especially when it comes to hotel-dense areas like city centres or major destinations.

6. Strategic Plan

This exists of 3 parts:

• Marketing : How exactly will you attract customers/guests? How will you position yourself? What will your message be to the different segments of your business mix? How will your direct marketing work? What will be the plan for your hotel website, SEO, SEM and SMM? Will you do offline promotion? In short, your hotel marketing strategy should cover everything there is to know about how to market your hotel.
• Distribution : Which 3rd party channels will you use and how will you manage availability? What technology will you need?
• Revenue management : What pricing and yield techniques will you use? What will your payment and cancellation policies be? Which room types will you be selling, and how will they be individually marketed? How many revenue scenarios will I create? Where can I compensate income/demand streams when necessary?

Make sure you have the capabilities to plan out a strong marketing, distribution and revenue management strategy. 

Things get complicated rather fast, and choosing to outsource hotel and revenue management is likely to give you a strategic advantage, during the planning phase, and the execution of your business plans.

7. Operations Plan

How will you run your hotel? Think of the following elements:

• How many staff and supervisors will you need? 
• What are their job descriptions/responsibilities? 
• What background and experience should they have? 
• When should they start? 
• What are your service standards?
• Will you develop manuals?
• Which supplier will you use?
• How will you manage inventory?

8. Management Team

Include the bios of your team. Focus on what uniquely qualifies you to make your hotel such a success. Having a great team is the key to success , and stakeholders will be impressed with a thorough explanation of the added value everyone brings to the table.

9. Financial Plan

Provide the start-up costs of the hotel (capital investment), the ongoing business costs, operational expenses and revenue projections for the next five years. These figures should be always based on your Hotel Feasibility Study . The KPIs to look at include expected occupancy, ADR (Average Daily Rate) and RevPAR (Revenue per Available Room).

If you are raising money , outline how much funding will be needed and when. Explain how you will generate a return on investment for investors, or when lenders will be paid back.

10. Key Milestones

These are the most important achievements which once they have been completed, will make your hotel more likely to succeed. Think off:

• Location selection
• Permits & Licenses
• Build-out / Construction of the Hotel
• Staffing and Training
• GOP Break-even
• NOI Break-even

Each time one of the key milestones is achieved, the risk of lenders or investors decreases . And once your last key milestone is reached, the chance of success is more or less guaranteed.

11. Appendix

Provide any other relevant information here. Don’t clutter the main sections of your hotel business plan with too many details. Rather support them with attachments in this part.

Putting Your Plan into Action

Many people have great business ideas. But that really doesn’t matter. The difference between dreamers and entrepreneurs is the action mindset. Are you ready to ship your idea to the market? 

The first step is to put your ideas on paper. I hope this free sample will help you write a persuasive hotel business plan. Because no investor or lender will be interested if you cannot present a clear plan.

Follow your dreams and go for it!

Maximize Your Hotel Revenue

Uncover the hidden revenue potential of your hotel or resort.

Need help to Develop and Manage your Hotel Concept?

Our hotel consultants at XOTELS have helped hundreds of hotels to develop and optimize their businesses. 

With cost-effective implementations and best practices developed over years of experience, successful business as a boutique hotel , resort, B&B, aparthotel, hostel, or any other lodging concept for that matter, is guaranteed.

Hope this template has helped you get inspired to start your own hotel business .

Best of luck in your endeavours!

Patrick Landman

PS. Get in touch with us if you need help developing and managing your hotel concept.

Subscribe Latest Articles

Share This Story, Choose Your Platform!

About the author:.

Related Posts

What is hotel management, what does a hotel management company do, 10 smart hotel cost control ideas to save money, hotel marketing plan for 2024.

Free Business Plan Templates in Excel

By Joe Weller | September 27, 2020

• Share on Facebook
• Share on LinkedIn

Link copied

In this article, we’ve rounded up an extensive list of free business plan templates and samples for organizations of all sizes. You can download all of the plans in Excel. 

Included on this page, you’ll find business plan templates in Excel , business plan checklists in Excel , business plan financial templates in Excel , and more.

Business Plan Templates in Excel

These Excel business plan templates are designed to guide you through each step of a well-rounded strategy that supports your marketing, sales, financial, and operational goals.

Business Plan Template in Excel

This Excel business plan template has all the traditional components of a standard business plan, with each section divided into tabs. This template includes space to provide the executive summary, target audience characteristics, product or service offering details, marketing strategies, and more. The plan also offers built-in formulas to complete calculations for sales forecasting, financial statements, and key business ratios.

Download Business Plan Template

Excel | Smartsheet

One-Page Business Plan in Excel

To check the feasibility of your business concept, use this single-page business plan template. The template allows you to jot down the core details related to your idea. This template also includes room for you to provide concise information about what you do, how you do it, why you do it, who your idea serves, your competitive advantage, your marketing strategies, and your success factors. At the bottom of this one-page plan, you’ll find a table to conduct a SWOT (strengths, weaknesses, opportunities, and threats) analysis. Find more downloadable single-page plans and examples at “ One-Page Business Plan Templates with a Quick How-To Guide .”

Download One-Page Business Plan

Excel | Word | PDF | Smartsheet

Sample 30-60-90-Day Business Plan for Startup in Excel

This 90-day business plan is designed for startup companies to develop a 90-day action plan. This template gives you room to outline the following: main goals and deliverables for each 30-day increment; key business activities; task ownership; and deadlines. This template also includes a built-in Gantt chart that adjusts as you enter dates. Visit “ 30-60-90-Day Business Plan Templates and Samples ” to download more free plans.

Download 30-60-90-Day Business Plan for Startup

For more free business plans in a wider variety of formats, visit “ Simple Business Plan Templates .”

Business Plan Checklists in Excel

These business plan checklists are useful for freelancers, entrepreneurs, and business owners who want to organize and track the progress of key business activities.

Business Planning Checklist with Timeline in Excel

Use this checklist to keep your business planning efforts on track. This template enables you to add tasks according to each phase of your plan, assign an owner to each task, and enter the respective start and end dates. The checklist also enables you to create and color-code a visual timeline when you highlight the start and end dates for each task.

Download Business Planning Checklist with Timeline Template

Business Plan Checklist with SWOT Analysis in Excel

Use this business plan checklist to develop and organize your strategic plan. Add the name of the business activity, along with its status, due date, and pertinent notes. This template also includes a separate tab with a SWOT analysis matrix, so you can evaluate and prioritize your company’s strengths, weaknesses, opportunities, and threats.

Download Business Plan Checklist with SWOT Analysis - Excel

Business Startup Checklist in Excel

This checklist template is ideal for startup organizations. It allows you to list and categorize key tasks that you need to complete, including items related to research, strategic relationships, finance, development, and more. Check off each task upon completion to ensure you haven’t missed or overlooked any important business activities. Find additional resources by visiting “ Free Startup Plan, Budget & Cost Templates .”

‌Download Business Startup Checklist Template

Business Plan Financial Templates in Excel

Use these customizable templates to develop your organization’s financial plan.

Business Startup Costs Template in Excel

Use this template to estimate and track your startup and operational costs. This template gives you room to list line items for both funding and expenses; you can automatically calculate totals using the built-in formulas. To avoid overspending, compare budgeted amounts against actual amounts to determine where you can cut costs or find additional funding.

Download Business Startup Costs Template

Small-Business Budget Template in Excel

This simple business budget template is designed with small businesses in mind. The template helps you track the income and expenses that you accrue on a monthly and yearly basis. To log your cash balances and transactions for a given time frame, use the tab for cash flow recording.

Download Small-Business Budget Template - Excel

Startup Financial Statement Projections Template

This financial statement projections template includes a detailed profit and loss statement (or income statement), a balance sheet with business ratios, and a cash flow statement to analyze your company’s current and future financial position. This template also comes with built-in formulas, so you can calculate totals as you enter values and customize your statement to fit the needs of your business.

‌ Download Startup Financial Statement Projections Template

For additional templates to help you produce a sound financial plan, visit “ Free Financial Templates for a Business Plan .”

Business Plan Marketing and Sales Templates in Excel

Use these downloadable templates to support and reinforce the marketing and sales objectives in your business plan.

Sales Forecast Template in Excel

This sales forecast template allows you to view the projected sales of your products or services at both individual and combined levels over a 12-month period. You can organize this template by department, product group, customer type, and other helpful categories. The template has built-in formulas to calculate monthly and yearly sales totals. For additional resources to project sales, visit “ Free Sales Forecasting Templates .”

Download Sales Forecast Template

Marketing Budget Plan in Excel

This marketing budget plan template helps you organize and plan your campaign costs for key marketing activities, such as market research, advertising, content marketing , and public relations. Enter the projected quantity and cost under each campaign category; the built-in formulas enable you to calculate projected subtotals automatically. This template also includes a graph that auto-populates as you enter values, so you can see where your marketing dollars are going.

Download Marketing Budget Plan Template

Other Business Plans in Excel

Use these business plan templates to conduct analyses and develop a plan of action that aligns your strategy with your main business objectives.

Business Action Plan Template in Excel

Use this basic action plan template to develop a roadmap for reaching your goals. Add a description of each action item, assign the responsible party, and list the required resources, potential hazards, key dates, and desired outcome. You can use this template to develop an action plan for marketing, sales, program development, and more. 

Download Business Action Plan Template

Business Plan Rubric in Excel

Once you complete your business plan, use this rubric template to score each section to ensure you include all the essential information. You can customize this rubric to fit the needs of your organization and provide insight into the areas of your plan where you want to delve more deeply or remove unnecessary details. By following these steps, you can make certain that your final business plan is clear, concise, and thorough.

Download Simple Business Plan Rubric

Competitive Analysis Template in Excel

This template enables you to analyze the competitive landscape and industry for your business. By providing details related to your company and competitors, you can assess and compare all key areas, including the target market, marketing strategies, product or service offerings, distribution channels, and more.

Download Competitive Analysis Template

Excel  | Smartsheet

For additional free templates for all aspects of your business, visit “ Free Business Templates for Organizations of All Sizes .”

Turbo-Charge Your Business Plans with Templates from Smartsheet

Empower your people to go above and beyond with a flexible platform designed to match the needs of your team — and adapt as those needs change. 

The Smartsheet platform makes it easy to plan, capture, manage, and report on work from anywhere, helping your team be more effective and get more done. Report on key metrics and get real-time visibility into work as it happens with roll-up reports, dashboards, and automated workflows built to keep your team connected and informed. 

When teams have clarity into the work getting done, there’s no telling how much more they can accomplish in the same amount of time.  Try Smartsheet for free, today.

Discover why over 90% of Fortune 100 companies trust Smartsheet to get work done.

How to Write a Successful Hotel Business Plan + Template

Creating a business plan is essential for any business, but it can be especially helpful for hotel businesses who want to improve their strategy and/or raise funding.

A well-crafted business plan not only outlines the vision for your company, but also documents a step-by-step roadmap of how you are going to accomplish it. In order to create an effective business plan, you must first understand the components that are essential to its success.

This article provides an overview of the key elements that every hotel business owner should include in their business plan.

Download the Ultimate Hotel Business Plan Template

What is a Hotel Business Plan?

A hotel business plan is a formal written document that describes your company’s business strategy and its feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write a Hotel Business Plan?

A hotel business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Hotel Business Plan

The following are the key components of a successful hotel business plan:

Executive Summary

The executive summary of a hotel business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

• Start with a one-line description of your hotel company
• Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.

If you are just starting your hotel business, you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your hotel firm, mention this.

You will also include information about your chosen hotel business model and how, if applicable, it is different from other companies in your industry.

Industry Analysis

The industry or market analysis is an important component of a hotel business plan. Conduct thorough market research to determine industry trends and document the size of your market. 

Questions to answer include:

• What part of the hotel industry are you targeting?
• How big is the market?
• What trends are happening in the industry right now (and if applicable, how do these trends support the success of your company)?

You should also include sources for the information you provide, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, a hotel business’ customers may include:

• Business travelers
• Leisure travelers
• Groups and conventions
• Wedding parties
• Local residents

You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or hotel services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will be different from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation and/or advantage; that is, in what ways are you different from and ideally better than your competitors.

Below are sample competitive advantages your hotel business may have:

• Location : if your hotel is located in an ideal spot for leisure or business travelers, this could be a key competitive advantage
• Amenities : if your hotel offers unique amenities that are appealing to your target market segments, this could give you a leg up on the competition
• Customer service : if you focus on delivering exceptional customer service, this could be a key selling point

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps.

• Product/Service : Detail your product/service offerings here. Document their features and benefits.
• Price : Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
• Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
• Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, launch a direct mail campaign. Or you may promote your hotel business via public relations (PR), speaking engagements, or other thought-leadership activities.

Operations Plan

This part of your hotel business plan should include the following information:

• How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
• What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for a hotel business include reaching $X in sales. Other examples include adding new locations, launching a new product/service, or hiring new employees.

Management Team

List your team members here including their names and titles, as well as their expertise and experience relevant to your specific hotel industry. Include brief biography sketches for each team member.

Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix). 

This includes the following three financial statements:

Income Statement

Your income statement should include:

• Revenue: how much revenue you generate.
• Cost of Goods Sold: These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
• Net Income (or loss): Once expenses and revenue are totaled and deducted from each other, this is the net income or loss

Sample Income Statement for a Startup Hotel Business

Balance sheet.

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

• Assets : All of the things you own (including cash).
• Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
• Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Hotel Business

Cash flow statement.

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

• Cash Flow From Operations
• Cash Flow From Investments
• Cash Flow From Financing

Below is a sample of a projected cash flow statement for a startup hotel business.

Sample Cash Flow Statement for a Startup Hotel Business

You will also want to include an appendix section which will include:

• Your complete financial projections
• A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
• Any other documentation which supports what you included in the body of your business plan.

Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your hotel company. It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.

As you can see, there is a lot that goes into creating a successful hotel business plan. But with careful planning and execution, you can set your hotel business up for success.  

Finish Your Hotel Business Plan in 1 Day!

Analyze prices and competitors now. Try Smartpricing Free!

• Book a demo

Guide to writing a business plan

Step-by-step instructions and Excel file to write your first business plan

What you will find inside this resource:

Detailed instructions.

This guide is a real handbook on how to write a business plan from scratch, even if you have never done it before. Inside you will find all the basic sections with clear explanations that will walk you through the compilation step by step, reducing the risk of mistakes or oversights.

Simplified calculations

To draw up your business plan you will have to handle numbers and financial data, which are essential for establishing projections of growth, profitability and stability of your accommodation. In the guide you will find the button to access an Excel chart with preset formulas and instructions for using them.

Concrete insights

We know how difficult it can be to bridge the gap between theory and practice. That's why our handbook provides not only a list of the sections and steps you need to take to compile your business plan, but also concrete examples related to hotels, B&Bs, resorts, and vacation rentals.

Improvisation is not the right strategy

Defining your goals and the means to achieve them is easier if you have a road map to follow. A business plan protects you from wrong "hunches," paving the way for success.

Find answers to your questions!

My facility has been open for some time. do i still need a business plan.

Yes! The business plan is not only needed for "big projects," for new openings or to participate in public tenders, but it is a useful tool for all accommodations, even those that are small to medium-sized or have already been in the market for years. You can use it to recalibrate your strategy, assess the feasibility of new products or services, better plan your resources, and unearth new opportunities to cope with a moment of crisis.

I have tried to write a business plan using a template before, but it was too complex. Is this one simpler?

It is normal to find some difficulty in creating a business plan, especially if it is your first time, because it is an extensive document that must contain your facility's current situation, market trends, and your goals for the future. Our business plan template is easy to fill out because not only is it structured with step-by-step instructions, but it also contains practical examples of how to complete it, so you can understand exactly what to write.

Can I directly customize this business plan template?

Sure! The resource you will get is an editable PDF, so all you have to do is open it on your computer and follow the directions by filling in each section directly. Also, within the PDF, you'll find a button to immediately access the accompanying Excel as well, which you'll need for the financial and analysis part. The two documents are designed to be used together, so you will also find instructions on how to integrate them step by step.

Hotel Business Plan Template

Hotel business plan.

If you want to start a new hotel business or expand your current one, you need a business plan.

Over the past 20+ years, we have helped over 5,000 entrepreneurs and business owners create business plans to start and grow their hotel businesses.

Below are links to each section of your hotel business plan template:

• Executive Summary – The Executive Summary is the most important section of your business plan. It should be clear, concise and provide an overview of your business plan.
• Company Overview – The company analysis should include your company name, business model, location, history, and a brief description of your hotel’s services. You can also include your company’s mission statement and/or a list of your key objectives.
• Industry Analysis – The Industry Analysis should include information on the size of the hospitality industry, trends, competition and growth potential.
• Customer Analysis – The Customer Analysis should include a description of your target market, customer needs and how you plan to attract and retain your target audience.
• Competitive Analysis – The Competitive Analysis should include a description of your local competition, their strengths and weaknesses and your unique selling point for how you plan to compete with them.
• Marketing Plan – The Marketing Plan should include your sales and hotel marketing strategy, pricing strategy, and the promotion plan for your hotel. It should also include marketing efforts on third-party websites and online travel agencies.
• Operations Plan – The Operations Plan should include a description of your hotel operations, policies, and day-to-day procedures. It may also include your hotel business milestones.
• Management Team – The Management Team section should include biographies of the hotel owner, your hotel management staff, and their job descriptions.
• Financial Plan – The Financial Plan should include your hotel’s financial projections, funding requirements, and capital investment analysis.
• Appendix – The Appendix should include any supporting documents such as your hotel’s lease, contracts, permits, licenses, and complete financial statements including the income statement, balance sheet and cash flow statement.

Next Section: Executive Summary >

Hotel Business Plan FAQs

What is the easiest way to complete my hotel business plan.

Growthink's Ultimate Hotel Business Plan Template allows you to quickly and easily complete your own hotel business plan.

Where Can I Download a Hotel Business Plan PDF?

You can download our hotel business plan PDF template here . This is a business plan template you can use in PDF format.

What Is a Hotel Business Plan?

A business plan provides a snapshot of your hotel as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes local market research to support your hotel business plans.

Why Do You Need a Business Plan?

If you’re looking to start a hotel or grow your existing hotel you need a comprehensive business plan. A well-developed business plan will help you raise funding, if needed, and plan out the growth of your hotel in order to improve your chances of success. Your hotel business plan is a living document that should be updated annually as your company grows and changes.

What Are the Sources of Funding for a Hotel Business?

Hotels are usually funded through business loans.

Often you'll have to use personal savings and/or angel investors to help with the down payment on the business loan.

In the financial model section of your plan, be sure to detail, among other things, how much it will cost to build your hotel and the key uses of funds (e.g., building the hotel, cost to furnish the hotel, staffing costs, working capital, etc.).

Note that if you already operate several hotels, private equity investors might be interested in helping to finance your expansion.

How Do You Start a Hotel Business?

Starting a hotel business is easy with these 14 steps:

• Choose the Name for Your Hotel Business
• Create Your Hotel Business Plan
• Choose the Business Structure for Your Hotel Business
• Secure Startup Funding for Your Hotel Business (If Needed)
• Secure a Location for Your Business
• Register Your Hotel Business with the IRS
• Open a Business Bank Account
• Get a Business Credit Card
• Get the Required Business Licenses and Permits
• Get Business Insurance for Your Hotel Business
• Buy or Lease the Right Hotel Business Equipment
• Develop Your Hotel Business Marketing Materials
• Purchase and Setup the Software Needed to Run Your Hotel Business
• Open for Business

Learn more about how to start a hotel .

HOTEL BUSINESS PLAN OUTLINE

• Hotel Business Plan Home
• 1. Executive Summary
• 2. Company Overview
• 3. Industry Analysis
• 4. Customer Analysis
• 5. Competitive Analysis
• 6. Marketing Plan
• 7. Operations Plan
• 8. Management Team
• 9. Financial Plan
• 10. Appendix
• Hotel Business Plan Summary

Start Your Hotel Plan Here

Other Helpful Business Plan Articles & Templates

Search Product category Any value Sample Label 1 Sample Label 2 Sample Label 3

How to Build a Financial Model for a Hotel: Complete Guide

• February 24, 2023
• Hospitality

Every business needs a financial model. Whether you want to understand what’s your breakeven , your valuation or create a financial model for the business plan of your hotel , you’ve come the right way.

In this article we’ll explain you how to create powerful and accurate financial projections for a hotel with 25 rooms. Yet you can of course apply the same logic for any type of boutique, independent or franchise hotel of any size.

Also note that, whilst the charts and examples presented in this article come from our hotel financial model that also include built-in projections for a restaurant, we will only focus on hotel revenue in this guide here. For more information on how to build financial projections for a restaurant instead, refer to our complete guide here .

Hotel Financial Model

Download an expert-built 5-year Excel financial model for your business plan

1. Forecast Nights Booked

The first thing you must do when preparing your financial projections for your hotel is to forecast the number of nights booked over time. This can be done in a few steps:

• First, forecast the number of rooms (you might expand the size of your hotel progressively over time)
• Secondly, set the occupancy rate , taking into account seasonality
• Finally, calculate the number of nights booked = number of rooms x occupancy rate

The first step of any hotel financial model is to forecast the actual number of rooms that are available over time. They may or may not change: for example you could plan to start with 15 rooms, and expand to 25 in 3 years if all goes well by then.

When setting the number of rooms, make sure to segment the rooms by category as shown below. Indeed, as we will see later, each room category will have a different daily rate and costs.

In the example below, we assume the number of rooms stays the same throughout the next 5 years.

Occupancy rate

Occupancy rate should be set per month. Indeed, you will have to take into account seasonality. For example, you may experience high season from June to August, a rebound around Christmas, and low season the rest of the year.

Also, we strongly recommend you set an occupancy rate for weekdays and weekends separately. Unless your hotel is targeting professionals for business trips, you will likely experience occupancy rates twice as high as during the weekend vs. the weekdays.

In the example below, showing the weekday and weekends occupancy rates for a hotel over 5 years, we can see that:

• High season is from May to August (60-90% occupancy rate on weekends)
• Low season is from September to April to August (40-60% occupancy rate on weekends)
• Occupancy rate is almost always double on weekends vs. weekdays
• Occupancy rates are overall increasing over time (as the hotel becomes more popular)

Nights booked

Now that we know both the number of rooms and the occupancy rate over time, nights booked is simply the result of:

Nights booked = Number of days in a month x Number of rooms x Occupancy rate

So for example for January 2023:

Nights booked = 31 days x 40% occupancy rate x 25 rooms = 310 nights

You should now be able to obtain the following chart over the next 5 years:

2. Forecast Hotel Revenue

In order to forecast revenue, we first need to set up a few assumptions for pricing. This can easily be done by setting, for each room category, 2 different daily rates: one for weekdays and another for weekends.

In addition to the daily rate, it’s also important to add any extra revenue (dry cleaning fees, mini bar, etc.).

Finally, we strongly recommend you use a yearly price increase, to factor in inflation over time.

From there on, revenue simply is the result of:

Revenue = Weekdays Revenue + Weekends Revenue

Weekdays Revenue = ( Weekday Daily rate + Extra revenue per night ) x Weekday Nights

In the end, you should obtain your 5-year revenue projections as shown below:

3. Calculate Hotel Expenses

Once we have forecasted revenues, now is time to look at the expenses. Here are a few examples of expenses you should take into consideration:

• Salaries (housekeeping, operations, receptionists, management, etc.)
• Laundry & supplies (mini bar, free items, etc.)
• Payment processing fees (these can be anywhere from 2 to 3% of sales, so they shouldn’t be overlooked)
• Marketing (online & offline marketing campaigns)
• Bookkeeping & legal expenses

For salaries, you can use our free hiring plan template (already built in the Hotel financial model template ).

You should be able to forecast the number of employees (or full-time equivalents) as shown below, and the total salary cost.

Operating Expenses

For other expenses, instead, they can easily be calculated either as:

• A fixed amount per month (e.g. bookkeeping, marketing) ; or
• A percentage of revenue (e.g. payment processing fees) ; or
• A function of the number of nights booked (laundry & supplies)

4. Build P&L and Cash Flow

Once we have estimated revenues, expenses and debt, we can easily build the profit-and-loss (P&L) from revenues down to net profit . This will help you to visualise key financial metrics and KPIs such as Gross Profit or EBITDA margin as shown below:

The cash flow statement, in comparison, needs to include all cash items from the P&L and other cash movements such as capital investments (also referred as “Capex”), fundraising, debt, etc.

Forecasting cash flow is vital as it will help you understand how much funding you should get, either from investors or the bank (SBA loan for example) to open your own hotel , which we do in our financial model template with the use of funds chart (see below).

In this chart below, we’re showing you the example of a cost structure a hotel would have (excluding the startup costs to purchase the building). Unsurprisingly, salaries make up ~70% of total expenses.

Privacy Overview

• Purchase History

Hotel Business Plan Template

Trusted by 100+ Downloaders

What You Get

• A compelling & detailed pre-written Hotel business plan template in WORD
• A full & automatic Hotel financial plan model in EXCEL you can easily customize
• Customized text tailored to the Hotel business
• The ability to paste advanced charts and tables within a click
• No accounting or specialized financial knowledge needed
• The most cost-effective hotel business plan solution saving you time & money

Hotel Business Plan Package Description

Our ready-made hotel business plan package includes all you need to plan, execute, fund and launch a successful hotel venture. Our package includes a pre-written business plan template in Word as well as an automatic financial plan in Excel tailored to the hotel business. Spend only a couple of hours customizing these documents to perfectly suit your own project and you end up with an investor-grade robust hotel business plan you can proudly share with prospective investors, partners and other stakeholders. Check below the full content details.

Hotel Business Plan Document in Word

Our ready-made Hotel business plan template is in Word format and includes 23 pages. The document is divided into multiple sections. Each section contains the essential points that are necessary to effectively present your Hotel project. Each section and sub-section offers you a sample text that you can easily customize to make your business plan unique. Below is a small extract of your ready-made hotel business plan in Word.

Automatic Hotel Financial Model in Excel

Our pre-populated financial model is in Excel format and includes multiples worksheets. You can easily edit the model’s inputs including changing costs and revenue assumptions to generate pro-forma financial forecasts including P&L, Cash flows and Balance Sheets. Below is a small excerpt of your automatic hotel financial plan in Excel.

This Ready-Made Hotel Business Plan is For

• Entrepreneurs wishing to start a Hotel business
• Aspiring Hotel owners who want to create a business plan fast and easy
• Hospitality entrepreneurs who wish to pitch their project to investors
• Hospitality professionals who wish to better understand the potential of the opportunity

Immediate Delivery by Email

• Once you complete the order, you will receive an email with links to download your documents
• Your order will contain the full pre-written business plan in Word
• Your order will contain the full customizable financial model in Excel

Your Hotel Business Plan Content

Executive Summary:  Our Hotel business plan template starts with a compelling Executive Summary. This key section is very important as it summarizes in 1 page your Hotel concept. It will introduce your business model, the key people behind the project as well as the unique selling proposition offered by your Hotel concept. This section will also mention how market conditions and consumer trends are favorable for launching your project.

The Problem Opportunity: Next, your ready-made Hotel business plan will list a number of problems experienced by your prospects in your target market and will show how this presents a unique opportunity for your Hotel business. These can include issues such as lack of a particular type of hospitality businesses in a certain location, low or average quality of service offered by existing players, undifferentiated offering by current actors in the market…etc.

The Solution:  This section explains how your Hotel will take advantage of the current problems in the market and will detail your innovative solutions.

Mission & Vision: Your mission will explain in a couple of sentences your Hotel’s business ethos. In other words, it will summarize your unique value proposition and will explain how you are different than the competition. Your vision will explain the long-term plans for your Hotel concept. Are you planning to start with one hotel today and expand into a multi-branch business model? …etc.

Business Model:  This section details your Hotel concept using the business model canvas method. In a visually appealing table, we will detail your Hotel’s key partners, activities, resources, value proposition, customer segments, customer relationship plan, marketing channels, cost structure and revenue streams.

Products & Services:  Next, we will talk in details about your various products and services. We will describe your various types of rooms, amenities, F&B options, events, services…etc. We will also provide information about your pricing by product or line of items.

Market Analysis: This important section describes the various market statistics and consumer trends in the Hotel industry and explains how they support your own Hotel concept. The purpose of this section is to show that the market conditions are favorable for launching your project.

Global Market Trends:  In this sub-section of the market analysis, we will discuss the latest global market trends in the Hotel industry. We will look at the global industry size, growth rate, growth diving factors and consumer trends.

Local Market Trends: This sub-section explains the local market trends that are relevant to your specific Hotel business in your particular area of operation.

Target Customers:  In this section, we will describe your various customer profiles by providing information about their demographics, behavior and purchasing habits.

Competitive Analysis:  We will analyze key competitors active in your target market and provide insights about their strengths and weaknesses.

Competitive Advantages:  After looking at the competitive landscape, we will then show how your Hotel business is differentiating itself from the competition through a number of key advantages.

SWOT Analysis:  This section features a 4-quadrant table with explanations about how your Hotel intends to leverage its key strengths, mitigate weaknesses, capture opportunities and thwart any future threats.

Marketing Plan : This chapter provides detailed information about your go-to-market strategy. It includes a detailed action plan to help you build brand awareness and generate sales.

Branding & Awareness:  We will describe in this sub-section your choice of key marketing channels to build branding and awareness.

Customer Acquisition:  We will describe in this sub-section your choice of key marketing channels to acquire customers and increase sales.

Operating Plan:  This chapter provides information about your Hotel’s opening hours, internal processes and describes the interactions between various key departments and teams.

Management Team:  It is very important to present the key people behind your Hotel project and thus we have dedicated a section for this very purpose. It is also important to talk here about the founder’s vision, his past education and professional experience.

Hiring Plan:  No business can succeed without having on board the right team. This section lists all the key positions you plan to hire with information about their salaries and expected start dates.

Key Milestones:  To be able to launch and execute your Hotel project, you need to follow a set of actionable tasks with target deadlines. This section serves this purpose.

Financial Plan:  Without a robust financial plan, your Hotel business plan would be an incomplete document. This important section provides crucial information about your pro-forma financial projections and shows that you have really done your homework. The data mentioned in this and the following sections will be provided by the dynamic Excel financial model accompanying your Hotel business plan.

Projected Revenue:  This module shows your Hotel’s revenue projections over the next three years.

Projected Profit and Loss:  This module shows your Hotel’s income statement (also called profit and loss statement) over the next three years. Your income statement includes detailed projections about your sales and expenses and shows how your Hotel’s revenue is converted into a net profit.

Projected Cash Flows:  This module shows your Hotel’s cash flow projections over the next three years. The first year of operation is even detailed on a monthly basis. Your cash flow statement will detail the various cash inflows your Hotel will generate from its day to day operations and from funding sources, as well as the various cash outflows required to pay for operating expenses and business investments.

Projected Balance Sheet : This module shows your Hotel’s balance sheet projections over the next three years. The balance sheet will provide a summary of your Hotel’s short term and long term assets in addition to your short term and long term liabilities and capital.

Profitability Analysis:  In this section, we will provide information about your gross margin, net margin and discuss the profitability of your Hotel business.

Funding Requirement:  This module states the amount of funding your need to be able to comfortably launch your Hotel business. It also describes the planned allocation of the funds between Opex and Capex.

Conclusion : Finally, we will conclude your business plan by recapitulating the key points that make your Hotel project compelling and reiterate the rationale behind your business opportunity.

Why Use our Ready-Made Hotel Business Plan?

• Speed & Convenience:  Once you complete your order, you will receive the Hotel business plan directly in your mailbox. Since it is already pre-written with fully customizable financials, you will only need to spend a couple of hours to edit it and adapt it to your own hotel project.
• High Quality:  Your Hotel business plan has been written by our professional team of business plan writers and experts from the Hotel industry. You will receive a professional Hotel business plan template ideal for presenting to potential investors or banks.
• Low-Cost:  Our pre-written Hotel business plan template is the most cost-effective solution in case you need to build a solid and professional Hotel business plan. We are confident you will save hundreds if not thousands of dollars by ordering our premium business plan compared to hiring a consultant or subscribing to complicated and expensive software.

If you have any question regarding our ready-made Hotel business plan package,  do not hesitate to contact us , we are here to help.

You Might Also Be Interested in

Event Planning Business Plan Template

Dog Daycare Business Plan Template

Social Media Marketing Agency Business Plan Template

JOIN SOMEKA BUSINESS: Subscribe to Business Membership for exclusive benefits! Dismiss

Hotel Feasibility Study Excel Template

Hotel Financial Model Excel Template will allow investors or business owners to make financial projections and decide on their investment projects.

Unlimited version with password and modification rights of Single User License Allows 1 User & 2 Devices Learn More >

Unlimited version with password and modification rights of Multi User License Allows Multiple Users & Devices Learn More >

Additional Services

Technical assistance and guidance for the product purchased Valid for 1 product & 1 month Learn More >

Custom Services - Basic Plan Assistance for the basic spreadsheet modifications such as adding new columns/rows, filters, changing currencies, removing logo, adding new tabs etc. Learn More >

30-Days Return

One-Time Payment

Instant Download

Redeem 3 Templates

Download 3 premium templates of your choice for free each month.

Continuous Technical Support

We’ll be your one-stop assistant for all your Excel & Google Sheets questions and needs.

Multi-User Environment

You’ll be entitled to multi-user licensing for your templates.

Cancel Anytime | Growing Catalogue | Continuous Updates

Learn more about Someka Business

This template is also included in bundle with special discount! See details >>

TEMPLATE DESCRIPTION

Entering the hotel business requires a quite amount of capital allocation. It is quite possible that you would need to borrow from the bank in order to buy a property and renovate it. Because you want to meet the expectations of your target audience. That is when Hotel Feasibility Study Excel Template comes in because your financial projections are one of the first things your creditors would like to see.

Our Hotel Financial Plan template is meticulously crafted for hotels, motels, and hostels, providing accurate forecasting tools essential for sound management and operational planning. From small hostels to large hotels, this tool is designed to cater to various hospitality setups , offering a reliable foundation for developing a feasible and sustainable operating plan.

Hotel Financial Model Template Features:

Basically, this template consists of 3 main parts:

This is when our Hotel Financial Model would be of use. In general, you will be able to:

• Create financial projections for up to 10 years and test them using a range of assumptions;
• Account for various unit types, taking into account seasonal change and year-to-year fluctuations of prices and occupancy;
• Analyze for different sources of income, such as accommodation, food, and beverages, retail, and use of amenities;
• Manage different sales channels, such as direct reservations, booking engines, and travel agents.

Although being rather simple and user-friendly, this hotel feasibility study model offers a full range of the professional financial modeling tool’s features. Let’s dive into each section of this Hotel Feasibility Study Excel Template.

Firstly, start working from the Dashboard. Here you will find the links to all parts of the model, as well as a few settings and assumptions.

In summary, the Model Config section allows you to:

• Set a length of the Projection Period (from 2 to 10 years) by picking from the drop-down list;
• Enter the Start Date of the project;
• Enter a code of the currency in which all monetary amounts will be displayed;
• Show or hide instructions by using the drop-down list.

There are two tables here as well:

• The sales Channels table contains a list of the applicable sales channels with their assumed revenue shares and commission percentages that each channel entails;
• Occupancy by Year’s table allows you to set maximum occupancy rates (not taking into account seasonal variations) which you reasonably expect to reach in each of the consequential years of operation.

Then, go to the Assumptions section which contains the most important projection, namely your expected sales.

Hotel Feasibility Study – Sales And Pricing Assumptions

In the first table Sales – Accommodation , enter the following information:

• A list of accommodation units;
• Regular nightly rates for each type of unit, before taking into account any discounts;
• For each type of unit, number of units available;
• For each type of unit, a number of persons per unit. These numbers will be used to calculate other incomes as specific amounts per guest;
• For each month of the year, enter expected occupancy rates and average discounts. The ultimate occupancy rate for a month will be found as the product of the month-specific occupancy rate and year-specific maximum occupancy which you have entered in the Dashboard section.

The study includes a detailed room forecast , incorporating factors like seasonality and Average Daily Rate (ADR) , which are crucial for understanding demand and pricing strategies in the hospitality sector.

In the second table Sales – Other Revenue, enter the following:

• Names of facilities with a relevant group of income lines (Food & Beverages, Retail, Amenities, Miscellaneous);
• Percentage of variable costs that entails the income line;
• A method for estimating income amounts: specific amount per guest or fixed amount;
• For each month of the year, enter expected income amounts (either average per guest, or a fixed sum, depending on the previous setting).

In the next two tables, the expected numbers of booked nights for each unit, and expected numbers of guests will be calculated accordingly.

Other Notes:

If you expect that prices will increase over time, enter the increase rate with its frequency into the Price Increase fields. After that, the price Evolution table will contain actual prices adjusted for both seasonal price changes and time-related price increases. Alike, other income amounts will be adjusted to accommodate an expected increase over time.

Ultimately, Sales Revenues from all lines of income will be calculated with sales channel commissions and variable costs (costs of goods and services sold). If you expect that costs will increase over time, enter the increase rate with its frequency into the Cost Increase fields. Variable cost amounts will be adjusted.

Your next step for your hotel financial model will be entering expected salaries and other fixed costs in the Fixed Costs section.

Hotel Feasibility Study – Fixed Cost

With a keen focus on operating costs, the product supports effective budgeting and staffing plans , allowing hospitality businesses to optimize their workforce and manage expenses proactively.

Start here from the Staff table. Enter names of employee positions with groups of income lines.

For example, maids and cleaners will be associated with accommodation, and cooks and waiters – with food and beverages income. For each position, provide the wage/salary level, as of the start date of the project. Furthermore, to account for seasonal variations in the workforce, enter the expected average number of employees for each month of the year.

Similarly, other Monthly Expenses table follows the same logic;

• Enter names of expense items into the list, with the groups of income lines,
• Enter expected monthly amounts of expenses for each month of the year.

As it is reasonable to expect that expenses will increase over time, enter expected increase rates and frequencies into Salary Increase and Expenses Increase fields.

Finally, the tool will calculate time-adjusted amounts of wages/salaries and other fixed expenses for each month of the projected period.

Start-up Cost

Last, but not least step will be entering your startup costs into this section. The usefulness of the model’s outcomes will greatly depend on the degree of accuracy in estimating the costs you will need to start your hotel business.

Now as you have entered all necessary data, go to the reports which are available from the Dashboard section.

Hotel Feasibility Study Template – Reports

Financial statements summarize your hotel accounting info in a way that’s simple to understand.  Therefore, for most small hotel business owners, it can be either monthly or quarterly. And, this Hotel Financial Model provides monthly statements that flow into annual summaries easily including:

• Income Statement
• Balance Sheet
• Cash Flow Statement

Profit (EBITDA) is assessing basic day-to-day operational profitability. The elimination of expenses like interest, taxes, depreciation, and amortization from the metric means that performance can be viewed away from accounting and financing. So you will easily present breakdowns of income and expenses by lines of income.

The P&L calculator embedded within assists in crafting a realistic budget, offering clear insights into potential profits and losses through advanced forecasting functionalities designed for the hotel industry.

Basically, Break-even reports will give you an idea of when you are going to recover your initial investments;

Other Reports:

• Yearly Financial Statements;
• NPV & IRR Calculation;
• Sales Report showing break-even of occupancy data;
• Detailed Revenue report presenting income by unit types and facilities;
• Gross Profit report for each income line, and overall;
• Salary Breakdown report;
• Marketplace Sales Breakdown, Revenue, and Profit reports.

Data Source

Finally, the Data Source will consolidate all data and inputs of your Hotel Financial Model. To emphasize, we do not recommend you make any manual changes in this section. However, if you are Excel-savvy to be able to modify the file structure, you can edit this section to create much more customized reports with your data.

Whether you’re planning promotional campaigns or anticipating seasonal fluctuations, the Hotel Feasibility Study provides a comprehensive analysis to guide your strategic and budget decisions .  Utilize our product to navigate the complexities of the hospitality market confidently, ensuring that your establishment is well-positioned for success, from room management to financial forecasting.

Hotel Feasibility Study Excel Template Features Summary

• Unique Excel Template to perform hotel financial feasibility study
• Overview of hotel revenues and expenses at a glance
• Works both on Mac and Windows
• No installation needed, ready to use.
• Professional design and suitable for presentations
• Innovative reporting system
• Financial Statements
• On Sheet Instructions
• White Label
• Print-Ready
• Compatible with Excel 2010 and later versions

Hotel Financial Model is a ready-to-use Excel Template and provided as-is. If you need customization on your reports or need more complex templates, please refer to our custom services .

SOMEKA FINANCIAL MODELS COLLECTION

Product video.

Watch the video below to see the template in action! Presentation also includes usage notes, explanations and tips & tricks about the template.

FREQUENTLY ASKED QUESTIONS

User reviews & comments, 15 reviews for hotel feasibility study excel template.

Osama M. – May 11, 2023

One thing that comes like a surprise to me it was the Variable Costs that you added to this template, smart thought, thank you.

Elif Yuksel – April 22, 2023

I want to change the projection time, in the default it is 5 years, i need to change it, can you help me plesae?

Someka – April 22, 2023

Hi there, thanks for getting in touch with us, in Dashboard you can find settings, and there is a Model Config table available. Please change the projection period from this row, it is possible to change it from 2 up to 10 years. If you need more help please don’t hesitate: [email protected]

Jerry Masne – February 16, 2023

Hello Someka, I like this template, but I need something more to manage all aspects of my hotel, is there something like that available in your business?

Someka – February 16, 2023

Hello, thanks for your feedback, Actually yes, we have an Excel Bundle for Hotel management , there is 6 useful template like currency converter, contact list and etc. Please check the provided link, also we have a great off now on our bundle product. Hope it helps you.

Pawel R – January 10, 2023

Good day, Someka. I purchased this template in 2021, and I’ve received some update emails about it since then. I just wanted to thank you for keeping your promises about lifetime updates and access. I hope your company expands day by day.

Someka – January 11, 2023

Hello there, Pawel. We are happy that you are one of our regular customers. Yes, we update templates on occasion due to current technology, color palette, and some new features, and we also send an update email to previous buyers. I hope you have good times using this template.

Benjamin – November 7, 2022

I noticed you recently made some Google Sheets versions of previous templates; I hope you do the same for this hotel template. When I don’t have access to my laptop, I like to check it in Google Drive from my phone. I hope you will consider my suggestion.

Someka – November 7, 2022

Hello Benjamin, Thanks for your nice suggestion. We are in the process of making the Google Sheets version and when this template was ready we will inform you by email. Thanks

Brinder – September 16, 2022

I love the net profit colomn, really clear and easy for understanding.

Wilf A – May 31, 2022

My business will be very easy with this excel in my opinion.Is there instructions available on use of this spreadsheet? That would really be helpful rather than keep bothering you when I have some questions.

Someka – May 31, 2022

Hello Wilf,

You may contact us whenever you have questions about our templates. Besides, we have yellow notes on the template. These notes include detailed explanations of all the sections. Please be sure that you have selected “Show” instructions on the Settings to see these yellow notes:

You may also visit the tutorial video to learn more about the template. Hope this helps!

Wynona Nixon – February 3, 2022

Very useful excel! How can I add sheet to your prıduct? Also, we want to see headings

Someka – February 3, 2022

Thank you very much for your kind words.

You need to unlock both worksheets and workbook. How do I unlock the sheets? What is the password?

Then, please follow those steps:

– Display headings ( open rows and columns )

– Open the sheet tabs and add a new sheet

Hope this helps!

Mona – January 21, 2022

Annualy, semi-annually, quarterly and monthly filter options are very useful for our analysis. Thank you very much.

Mikkel Lysgaard – October 24, 2020

First of all, thank you for your great website. I’m not sure if you can tell from my email, but i’ve used you many times to get ideas on self-improvement.

Earlier this evening, I purchased your hotel financial model. Receiving process very smooth and easy. Unfortunately the excel returns me with some formula issues. I’m using “Numbers” from my Macbook. I have then opened it on my Windows PC, with the same issue.

I can’t attach screenshots, but it’s 60% of the sheet has a mark in the corner, and when i change values or dates, it doesn’t update.

My Excel versions are up to date. Maybe you have experienced this before and know how to solve it? Thanks

Someka – October 25, 2020

First of all, thanks a lot for your valuable feedback. Appreciated!

It is hard to say something without seeing any screenshots or the file itself. To be able to understand where the issue is we need to see the file. Did you click the “Update Reports” button after you enter your data? This issue might be related to not clicking the Update Reports button so please try that first. If the issue continues, please contact us and send your file to be able to check it.

By the way, we need to remind you that Numbers are not supported . So, you should use this template Microsoft Excel for Mac or Windows PC. Do your templates work at Mac?

For further questions please do not hesitate to contact us.

Kindly regards,

CA. PANKAJ KUMAR SINGH – October 19, 2020

Shadid Farag – July 21, 2019

Not that hard to get but the support service is poor. We drop a mail and the reply is done on 2-3 days.

Someka – July 22, 2019

Hello Shadid! We are very sorry about the negative experience that you had with our customer service. Also, thank you for bringing this issue to our attention. We reply the messages on our full-time work schedule on weekdays. We would like to help and solve your problems along with our team, but we need just a bit more information before doing so. Could you please contact us via [email protected] ? We’ll return you back ASAP!

Michelle Ladewig – May 5, 2019

Hi Thanks for your Hotel Forecasting template,it’s such a big hit for me. Simplied so much for.

Jenna Bassen – May 1, 2019

Laying out this business plan helped us identify the unknowns!! Beyond the simplicty, there is quite strict structure behind.

Phung Dinh Thi – April 2, 2019

That is very good report. Thank you so much

Someka – April 2, 2019

Thank you Phung. Glad it was helpful for your business.

You must be logged in to post a review.

Only verified users who have downloaded and used the template may leave a review.

RELATED TEMPLATES

Daily-Weekly-Monthly Task List Excel Template

Excel Task List Template on a daily, weekly, monthly basis. Save your headspace and keep track of your to-dos easily. Works in Mac & Windows.

Rent Roll Template in Excel

Downloadable Rent Roll Template in Excel. Property management tool for landlords and real estate agencies. Printable and editable. Easy-to-use forms.

50/30/20 Budget Excel Template

50/30/20 simple budget template in Excel. Input your income, wants, and needs. Track the ratio of your savings in your budget. Ready to use template.

Fishbone Diagram Excel Template

Ishikawa Fishbone Diagram Maker in Excel. Printable template to define root causes. Brainstorm and add the “bones”. Ready for your presentations.

Performance Review Excel Template

Performance evaluation spreadsheet for HR. Review and track performance of your staff. Printable and flexible ready-to-use template. All in Excel.

Frayer Model Template in Excel

Excel Frayer model to define a vocabulary in depth. Determine a concept and show its definition, characteristics, and examples. Easily printable and editable.

Hotel Business Plan Template [Updated 2024]

IX. Financial Plan

This Section's Contents

Revenue and Cost Drivers

Capital requirements and use of funds, key assumptions& forecasts.

[Company Name]’s will come from hotel room occupancy and conference room rentals.

The major costs for the company will be salaries of the staff and cost to maintain the standard of the hotel. In the initial years, the company’s marketing spend will be high, as it establishes itself in the market.

[Company Nameis seeking a total funding of $3,000,000 to launch the hotel. The capital will be used for funding capital expenditures, manpower costs, marketing expenses and working capital.

Specifically, these funds will be used as follows:

• Hotel design/build: approximately $2,500,000
• Working capital: approximately $500,000 to pay for Marketing, salaries, and lease costs until [Company Name] reaches break-even

Below please find the key assumptions that went into the financial forecast and a summary of the financial projections over the next five years.

5 Year Annual Income Statement

5 Year Annual Balance Sheet

5 Year Annual Cash Flow Statement

Comments are closed.

Hotel Business Plan Outline

Hotel business plan template

Download this hotel business plan template in PDF or Word format, or tailor it to your project directly in our business plan software.

Discover our hotel business plan template

Not accustomed to writing business plans? Our hotel business template will turn a typically challenging process into a total breeze.

Modelled on a complete business plan of an hotel in Normandy, our template features both the financial forecast and the written part that presents the project, its team, the local market and the business strategy implemented by the management.

Cast your eyes on this template to achieve a better understanding of what your bank and investors would like to see, so that you can create a business plan that meets their expectations.

Template only available to paying subscribers of our online business planning software . Get a 7-day trial for free.

Edit the hotel business plan template online, or download it

Available in pdf.

Just after a little inspiration? Download the business plan template in PDF to print and have a read over it.

Download in Word format

Want to edit your plan on Word? Simply export the hotel business plan template to MS Word (.dox) format.

Tailor it to your own project

Adapt this template to your personal project by changing the written part or the financial forecast in our online business plan software .

Hotel business plan template content

This template includes a complete business plan, with a financial forecast and the following sections:

• Executive summary: The executive summary gives the reader a clear and concise overview of your business idea
• Company: This section lays out the structure of your business, including its location, management team and legal status
• Products and services: Here, you'll give an overview of the services or products offered by the company
• Market analysis: The market analysis is where you’ll demonstrate that there is a strong demand for your products and services through a thorough assessment of the industry (customer profile, hot trends, regulation, competition, etc.)
• Strategy: This section highlights the company's game plan when it comes to pricing, marketing and mitigating risks along the way
• Operations: This step lays out the company's operational organisation, including the recruitment plan
• Financial plan: The financial plan includes a table of sources & uses (initial funding plan), and complete financial statements (P&L, balance sheet and cash flow statements).
• Appendices: This part provides the opportunity to include multiple financial appendices generated by our software (debt maturity profile, monthly financial statements, financial analysis, etc.).

Template only available to paying subscribers of our online software. Get a 7-day trial for free

Hotel business plan template extract

Executive summary, business overview.

The Hotel Le Cardinal will be an independent hotel aimed primarily at tourists visiting the seaside resort of Cabourg.

The hotel is located in a 1920's building, on a street in downtown Cabourg and close to the resort's main attractions.

The building will be completely renovated and equipped to receive a 3-star rating. The hotel will have a capacity of 20 rooms that can accommodate 38 people, as well as a private car park with 17 spaces.

The legal structure chosen is that of a limited liability company. The company will be managed by 2 veterans of the hotel industry: Mr Romain D. (50% of the shares) and Mr Damien S. (50% of the shares).

Romain has worked in the commercial division of one of Europe's leading hotel chains for 10 years, whilst Damien, who has spent the last 5 years managing a hotel in Caen, has over 15 years of experience working in the operational aspects of the hotel trade.

French Market

On average, the French hotel sector reaches annual revenues of €15.8 billion, €12 billion of which concerns independent leisure and corporate travel.

One fundamental trend affecting the hotel market is the rising importance of the Internet, with a study carried out by the firm Coach Omnium in 2012 estimating that up to 93% of hotel customers search for their hotels online.

According to a Phocuswright study from 2013, we can estimate that the typical breakdown of hotel reservations in 2015 is as follows:

• 66% of direct reservations (at the front desk of a hotel or over the phone)
• 24% of online reservations via an online travel agency (these websites generally take a commission of between 10-30% of the room rate, including taxes)
• 10% of online reservations via the hotel's website

Target Market

We have identified the following customer segments:

• Parisians: couples, groups of friends, and families wishing to escape from the capital and enjoy the charms of the seaside resort for short (weekends) or medium-length stays (school holiday periods), thanks to easy accessibility of the resort by train or car.
• Seniors: retirees who have more time than working people and a budget that allows them to travel more often, especially during the off-season.
• Foreigners: groups and families of Europeans wishing to visit the region, especially the sites of the 1944 landing.

Competition

We will be in direct competition with other hotels in downtown Cabourg and the surrounding towns.

We expect a high level of competition with the other hotels, particularly during the low season when occupancy rates of competing hotels are at their lowest.

The creation of our hotel should not result in overcapacity on the market as it corresponds with an increase in the number of hotel rooms by only 4%.

We will also be in indirect competition with other forms of accommodation available near downtown Cabourg:

• Holiday homes
• Guesthouses

We believe that competition with these alternative forms of accommodation will be limited as the services and rates they offer are very different from those offered by hotels.

Financial Highlights

We expect the company to be profitable in its first year of operation. We expect to achieve a turnover of €424,115 and EBITDA of €48,721 in the first year and a turnover of €476,531 and EBITDA of €93,385 in years 2 and 3.

Based on the current plan, the EBITDA margin is expected to be 11.49% of sales in year 1, and we believe that the improved hotel occupancy in subsequent years will enable us to achieve an EBITDA margin of 19.60% in years 2 and 3.

The business should be sufficiently capitalized to allow us to meet our loan repayments while maintaining sufficient liquidity to meet any contingencies and keep the hotel in good condition.

The objective of this business plan is to obtain bank financing of €200,000 to finance part of the renovation work and the purchase of equipment necessary for the opening of the hotel.

Template only available to paying subscribers of our online software. Get a 7-day trial for free.

Other business plan templates and resources to discover

Campsite business plan template

Get inspiration from our campsite business plan template.

Hostel business plan template

Discover our hostel business plan template.

Tea room business plan template

Check our tea room business plan template out.

Restaurant business plan template

Open your own restaurant by having a look at our business plan template.

How to carry out market research for a hotel

Check out the hotel market with our guide.

How to secure funding for a hotel

Read our article to find out know how to finance a hotel

How to buy a hotel

Want to take over a hotel? Check out our article to find out what to do.

How to open a hotel

Want to open a hotel? heck out our article to find out what to do.

Plan Projections

ideas to numbers .. simple financial projections

Home > Industry Templates > Hotel Revenue Projection Excel Template

Hotel Revenue Projection Excel Template

The hotel revenue projection template provides a quick and easy method to estimate the sales revenue generated by a hotel business for the next 5 years.

Using the Hotel Revenue Projection Template

Enter the hotel information, enter the occupancy rate, enter the average daily room rate.

Enter the average daily room rate for the year. Our weighted average price calculator is available to help calculate the average room rate if needed.

Enter the Food and Beverage Percentage and Other Revenue

Enter the food and beverage rate as a percentage of the total room revenue. The template calculates an estimate of the revenue from food and beverage by applying this rate to the total room revenue.

To complete the hotel revenue forecast enter other revenue from sundry activities on the line provided for each year of the forecast.

Hotel Revenue Projection Template Download

About the author.

Chartered accountant Michael Brown is the founder and CEO of Plan Projections. He has worked as an accountant and consultant for more than 25 years and has built financial models for all types of industries. He has been the CFO or controller of both small and medium sized companies and has run small businesses of his own. He has been a manager and an auditor with Deloitte, a big 4 accountancy firm, and holds a degree from Loughborough University.

You May Also Like

Boutique Hotel Business Plan | Boutique Hotel Budget Template | Boutique Hotel Financial Model | Boutique Hotel Business Model

MAC & PC Compatible, Unlocked, NO VBA Macro

All In One - Pitch Deck, Dashboard and Guide

Immediate download after the payment

Description

DOWNLOAD A FREE DEMO

ALL IN ONE MEGA PACK INCLUDES:

Boutique Hotel Financial Model/Business Plan Excel Template

Pitch Deck Template For PowerPoint, Keynote & Google Slides

Business Plan Guide and Business Plan Template in MS Word Format

Financial Dashboard in Excel To Track Your Business Performance

Boutique Hotel Financial Projection Info

This boutique hotel financial projection model excel is an essential tool for startups and entrepreneurs looking to raise funds and plan for their business. It includes a five-year projection of key financial charts, summaries, metrics, and funding forecasts created with the boutique hotel business in mind. The model can also be used to evaluate a boutique hotel business before selling it. It is fully unlocked, allowing users to edit all aspects of the model. This model covers all aspects of the boutique hotel business plan, including feasibility study, revenue management, market analysis, cost structure, pricing strategy, investment analysis, profit margin, cash flow, break-even analysis, return on investment, valuation, and asset management.

Introducing an innovative financial projection tool for boutique hotels, designed to simplify complex financial analysis and improve business planning. This Excel-based tool offers a comprehensive range of features, including market analysis, revenue management, cost structure assessment, pricing strategies, and investment analysis. By providing a clear understanding of the occupancy rates, cash flow, profit margins, break-even points, return on investment, asset management, and financial forecasting, boutique hotel owners can make informed decisions about their business plan while improving their investment valuation. This tool is easy to use, requiring only a basic level of Excel proficiency, and it's ideal for boutique hotels of all sizes and stages of development.

This versatile Excel Financial Model, designed by professionals, will aid in computing startup summary, detailed profit and loss statement format, major expenses, and KPIs to measure business performance. A financial modeling for startups also allows for estimating breakeven needs for certain services and more. The non-complex design and structure will determine ROI. Our team has also created a dynamic 5 year projection plan with unique features to assist with financial flows, including NPV, cash inflow and outflow, and ratios for measuring business success.

Business Plan Boutique Hotel Reports

All in One Place

Business Financial Statements

Sources And Uses Of Funds

Break Even Formula Excel

Top Revenue

Business Top Expenses Spreadsheet

Boutique Hotel Business Plan Template Expenses

Startup Expenses

Loan Financing

Business Plan For Boutique Hotel Metrics

Profitability KPIs

Cash Flow Model Excel

KPI Benchmarking Report

Pro Forma Profit And Loss

Balance Sheet Forecast

Business Plan For Boutique Hotel Valuation

Startup Valuation Multiples

Cap Table Template

Boutique Hotel Pro Forma Projection Key Features

Saves you time

Streamline your boutique hotel financial analysis with our comprehensive Business Plan Financial Projections Template.

Get a robust, powerful financial model which is fully expandable

This boutique hotel financial model excel spreadsheet is a reliable tool for creating a successful business plan.

Identify cash gaps and surpluses before they happen

Conducting a boutique hotel financial analysis, including cash flow projections, is essential for successful financial planning.

Simple-to-use

Easily project cash flow for your boutique hotel with our user-friendly Excel template.

Simple and Incredibly Practical

Maximize your boutique hotel's profitability with our comprehensive financial analysis tools.

Boutique Hotel Financial Model Excel Spreadsheet Advantages

Craft a comprehensive boutique hotel financial model in Excel and present a compelling pitch to secure funding.

Streamline your boutique hotel financials with an excel template, including revenue management, pricing strategy, and break-even analysis.

Developing a comprehensive financial model is crucial for ensuring timely payments in the boutique hotel industry.

Develop a comprehensive, long-term financial plan for a boutique hotel, including market analysis and revenue management.

Maximize your boutique hotel's financial potential with our expertly crafted pro forma income statement template in Excel.

Customer Reviews

• Hotel Budget
• Hotel Gantt Chart
• Hotel Invoice
• Hotel Receipt

Hotel Template in Excel

Are You A Hotel Owner? Create Your Budget Spreadsheet, Room Booking Form Or Reservation System Using Template.Net. We Have A Wide Variety Of Free, Editable And Printable Templates. You Can Edit It In Microsoft Excel. We Have A Lot Of Creative And Professional Designs. Visit Our Website And Download Now!

Get Access to All  MS Excel Templates

Hotels have always left us the impression of elegance and comfort, but this is largely thanks to the hotel's management and staff. Making things like budgets, invoices, and receipts is a regular part of working in a hotel. However, these things can be made simpler by checking out Hotel Templates in Excel and selecting reliable and expertly-designed ready-made templates that you can customize and download on any of your digital devices. Get one of our templates today and save yourself a great deal of trouble.

Frequently Asked Questions

What are ready-made hotel templates.

Ready-made hotel templates are pre-made files that users can utilize to prepare documents and other files needed in the hotel's activities. Each template is designed to be customizable.

What are suitable computer applications for preparing hotel budgets?

• Spreadsheet applications like Microsoft Excel and Google Slides can offer its users suitable tools to prepare a budget. 
• Creating tables and doing calculations for estimates is possible because of the spreadsheet application's cells and formula features.

Can you make hotel tasks more efficient using templates?

• The ready-made templates' pre-made features can reduce the amount of effort a hotel employee has to spend.
• The hotel templates can be downloaded pretty easily using the work computers of the hotel.
• Using ready-made hotel templates let the hotel staff create documents like invoices, receipts, and budgets without starting from the very beginning.
• Hotel templates also allow the hotel staff to save a considerable amount of time.

What are the alternative uses for Microsoft Excel?

Microsoft Excel can be used to create anything that requires tables and calculations. MS Excel can be used to create hotel renovation budgets. It can also be used to prepare hotel invoices and receipts.

What applications can be used to create hotel templates?

• If you want to create hotel text document templates, you can use writing applications like Microsoft Word and Google Docs.
• To create hotel invoices, receipts, and inventory templates, you can use spreadsheet applications like Google Sheets.
• If you need to design your hotel's promotional materials like posters, flyers, and banners, you can use Adobe Illustrator and Photoshop.

Get Instant Access to 20,000+ MS Excel Templates

• Access to 1 Million+ Templates & Tools
• 500,000+ Microsoft 365 Templates including Excel, Powerpoint, Publisher, Outlook & PDF
• Unlimited access to Design & Documents AI editors
• Professionally Made Content and Beautifully Designed
• Instant Download & 100% Customizable