Resorts are often similar to hotels; however, they typically have more luxurious accommodations, and attractions located on-site as well. A resort or hotel can be an ideal start-up business prospect since many travellers seek out luxury destinations and amenities.
From creating a solid business plan and finding an ideal location to build, to successfully market the resort, if you are prepared and make the proper arrangements, opening a resort business can be an excellent financial investment.
However, opening a resort can be a lot of work. If you are ready to put in time and money, following the steps outlined in this article will have your resort up and running in no time.
Choose a name for your business
The first step for starting a hotel would be to choose a name for your business. You will need a good hotel name idea in order to build a strong brand for your business. It is important to choose a name that is simple, easy to remember and meaningful.
Developing a Business Plan
Compiling a comprehensive business plan should be the first step after you have chosen a name for your business. A project of this size will require a substantial initial investment to fund the land purchase and the construction itself. You will need an effective business plan to interest investors or prove to a bank that you are worthy of a loan.
When creating your initial business plan, it is crucial to include the total cost of the property as well as any approvals or permits you require. You should also include the estimated completion date for the project and when the resort will be open to the general public. You should outline your vision in a colorful, yet realistic way. Also, include enough detail that your potential investors will see your passion and want to be involved with the financing.
Consider developing a one-of-a-kind brand or a catchy slogan for your property. If you are planning on operating the resort as a portion of a franchise, you will need to acquire the necessary permits, licenses, and approval before breaking ground on construction.
Choose an Ideal Location
One of the most important things to consider when opening a resort is the location. It is usually wise to look at multiple properties. Don’t just settle for the first location that you see. Check any properties within your budget and keep in mind your customer base when making a decision.
Resort locations should be picturesque and intriguing.
Many tourists are looking for a beach or waterfront location with amenities such as a swimming pool or outdoor features. The site should also be reasonably accessible and easy to get to. Don’t forget to consider parking and other attractions, such as tennis courts or outdoor activities.
If you are looking to attract families, there should be some kid-friendly activities such as a water park or a playground. If you are going for a more upscale establishment, you will need to consider an elegant dining lounge or bar.
Ultimately, you want to create a space where people can relax and enjoy the atmosphere. Guests want to kick back and enjoy their stay and not worry about a thing during their stay.
Promote Your Property
Lastly, once your business is up and running, it is time to get the word out. The moment you open, you should be creating buzz about your project and getting people excited and curious.
Some excellent ways to promote a resort are through social media, blogs, or delivering brochures to nearby businesses. You should hire a professional designer to set up your website and consider a chef-consultant to create a menu. It is a great idea to offer discounts for early booking and even a grand opening bonus.
Opening a resort can be a lot of hard work, but if you put in the effort, it can be an investment with an excellent return.