University of Foreign Language Studies

The University of Da Nang

ENGLISH FOR INTERNATIONAL TOURISM

BUSINESS PLAN
&
ACTION PLAN

Nguyễn Triệu Vi 21CNADL02

Trần Tâm Như 21CNADL02
Lê Hữu Thành 21CNADL02
Hồ Thị Anh Tiền 21CNADL02
Phạm Thị Ngọc Hương 21CNADL02
Huỳnh Thu Huyền 21CNADL02
Nguyễn Lê Vân Anh 21CNADL01
Nguyễn Thị Diệu Hiền 21CNADL01
Márton Palatkás

SECTION I
1
 BUSINESS PLAN
Table of contents

Executive Summary

Provide a concise overview of your business, including its mission,

vision, and the problem or opportunity it addresses.

Highlight key financial and strategic goals.

Company Description

Detail the history, structure, and legal status of your business.

Explain your mission, values, and what sets your business apart from
competitors.

Market Research

Present a thorough analysis of your industry, target market, and

competition.

Include data on market trends, customer demographics, and your market

positioning.

Products or Services

Describe the products or services you offer.

Explain their unique features and benefits.

Outline your product development and production processes.

Marketing and Sales Strategy

Explain your marketing and sales tactics.

Include your pricing strategy, distribution channels, and promotional

efforts.

Detail your sales forecasts and customer acquisition strategies.

Management and Team

Provide information about your leadership team and key personnel.

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Highlight their qualifications and relevant experience.

Operational Plan

Explain how your business operates, including location, facilities, and

equipment.

Outline your day-to-day processes, supply chain, and inventory

management.

Financial Projections

Present financial statements, including income statements, balance sheets,

and cash flow projections.

Include funding requirements, startup costs, and a break-even analysis.

Funding Request (if applicable)

Specify the funding you need and how you plan to use it.

Detail your preferred funding sources, such as loans or equity investment.

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 A. Executive summary
This executive summary provides an overview of our business plan for
"Boutique Hotel Paradise," an enchanting and upscale boutique hotel
located on the peaceful island of Mallorca, Spain. We are dedicated to
create a unique and luxurious experience for our guests, embracing the
natural beauty and cultural richness of Mallorca.

1. Market Opportunity

Mallorca's tourism industry continues thriving, with a large number of

international and domestic travelers seeking authentic and exclusive
experiences. Boutique hotels like ours are well-positioned to cater to the
discerning tastes of this growing market.

2. Key Features and Differentiators

Scenic Location: Boutique Hote is situated in one of the loveliest spots

on the island of Mallorca, offering spectacular views of the
Mediterranean Sea and easy access to pristine beaches, historic sites, and
vibrant local culture.

Gorgeous Accommodations: Our boutique hotel boasts elegantly

designed rooms and suites, each with its unique character, designed to
provide comfort, style, and a sense of place. The common theme is rustic
sophistication, with bright floral fabrics, beamed ceilings, and marble
tiles. Fragrant flowers and plants are abundant in the garden.

Culinary Excellence: Our on-site restaurant showcases the flavors of

Mallorca, featuring locally sourced, seasonal ingredients prepared by
famous chefs.

Authentic Experiences: We offer personalized concierge services to help

guests explore the island's natural beauty, historical sites, and vibrant
culture.

3. Target Market

Our primary clientele includes luxury travelers, honeymooners, and

culture enthusiasts seeking an intimate and authentic Mallorcan
experience.

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4. Market research highlights

Mallorca's tourism industry has experienced consistent growth, attracting

millions of visitors annually due to its stunning landscapes, pristine
beaches, and rich cultural heritage.

Boutique Hotel's target market comprises luxury travelers and

honeymooners who desire immersive and authentic experiences, aligning
with the boutique hotel concept.

Travelers are increasingly interested in sustainability and local culture,

areas where Boutique Hotel stands out with its eco-friendly activities and
cultural partnerships.

Based on our market research and financial forecast, we anticipate steady

revenue growth over the next five years. Our pricing strategy and
occupancy rates are forecasted to exceed industry averages.

5. Strategic Goals

Global Promotion: Develop marketing campaigns targeting key

international markets, including North America, Europe, and Asia.

Customer Experience Enhancement: Continue investing in staff training

to maintain the highest level of customer satisfaction and introduce
unique cultural experiences.

Environmental Responsibility: Implement eco-friendly practices to

minimize our environmental impact and support the local community's
sustainability initiatives.

Revenue Growth: Aim for a 12% annual increase in average daily rates
(ADR) and total revenue through focused pricing strategies and strategic
partnerships.

6. Conclusion

Boutique Hotel is poised for success in the competitive hospitality market

of Mallorca. With our prime location, dedication to exceptional service,
and commitment to cultural and environmental sustainability, we aim to
offer a differentiation and fascinating experience for our guests. Our
strategic goals and financial forecast are suitable for our vision to become
the premier boutique hotel in Mallorca, reflecting the beauty and charm
of this remarkable island.

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 B. Market Research
1. Tourism in Mallorca

Mallorca is one of the most popular tourist destinations in Spain,

attracting millions of visitors annually. The island is renowned for its
stunning landscapes, pristine beaches, rich cultural heritage, and vibrant
culinary scene.

Mallorca, the largest of the Balearic Islands, stands as an iconic Spanish

destination, attracting millions of visitors annually. Its allure lies in the
striking diversity of landscapes, from the rugged Tramuntana Mountains
in the north to the serene, sun-kissed beaches in the south. With a rich
cultural heritage, Mallorca tells its story through historic sites and
charming villages, reflecting Roman, Moorish, and Spanish influences.
The island's culinary scene is a vibrant combination of Mediterranean
flavors, from traditional Mallorcan dishes to international cuisines.
Mallorca's temperate climate invites outdoor enthusiasts to explore
mountains, coasts, and crystal-clear waters while offering a sanctuary for
wellness and relaxation seekers. This multifaceted island, with its pristine
beauty and dynamic culture, remains a beloved and sought-after
destination in the Mediterranean.

2. Growth in Boutique Hospitality

The boutique hotel sector has seen remarkable growth in recent years,
driven by travelers seeking unique and personalized experiences.

Discerning travelers, particularly those in the luxury segment, are

increasingly choosing boutique hotels for their individualized approach
and cultural immersion.

3. Target Market Preferences

Luxury travelers and honeymooners are seeking more than just

comfortable lodgings; they desire an authentic, immersive experience.

Boutique hotels as ours, with personalized service and an emphasis on

local culture, are well-suited to meet these preferences.

The modern discerning traveler, particularly those who fall into the
luxury category and honeymooners embarking on their romantic
journeys, has evolved in their preferences. They are no longer content
with merely comfortable accommodations; they seek something far more

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profound-an authentic and immersive experience that lingers in their
memories long after they depart.

4. Visitors demographic

International Tourists: Mallorca is a well-known international travel

destination, attracting visitors from various countries. International
tourists come to the island to experience its Mediterranean charm, pristine
beaches, and vibrant culture. The demographic composition of these
visitors can vary widely, but they often include a mix of couples,
families, and solo travelers.

Honeymooners: Mallorca's romantic landscapes, charming villages, and

luxury amenities make it a favored destination for honeymooners.
Honeymooners tend to be younger couples in their 20s to 30s, seeking a
blend of relaxation and adventure in a beautiful setting.

Luxury Travelers: Mallorca has a thriving luxury travel market. High-end

boutique hotels often cater to luxury travelers who appreciate
personalized service, unique experiences, and the finer things in life. This
demographic includes affluent individuals and couples, often in their 30s
and beyond, who are looking for exclusive and memorable experiences.

Nature Enthusiasts: The island's diverse landscapes and outdoor

opportunities attract nature enthusiasts, including hikers, cyclists, and
outdoor adventurers. These visitors can belong to various age groups but
are often active and appreciate eco-friendly experiences.

Cultural Explorers: Mallorca's rich cultural heritage and historic sites

draw in cultural explorers who are interested in the island's history, art,
and local traditions. This demographic can include travelers of all ages
who appreciate authenticity and local experiences.

Food and Wine Connoisseurs: Mallorca's culinary scene is a significant

attraction. Food and wine connoisseurs come to savor the local cuisine
and wines. This demographic can span various age groups and
backgrounds, but they all share a passion for gastronomy.

Wellness and Spa Seekers: The island's wellness and spa offerings make
it an appealing destination for those seeking relaxation and rejuvenation.
Visitors in this category can vary in age and may include individuals,
couples, or groups on wellness retreats.

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 C. SWOT analysis
1. Strengths

- Boutique Hotel benefits from a lovely location in Mallorca, providing

stunning views of the Mediterranean Sea and easy access to local
attractions.

- At Boutique Hotel, we have assembled a dedicated and experienced

management team committed to ensuring the success and seamless
operation of the hotel. Our dedicated team is highly skilled and trained to
provide exceptional customer service.

- The Mallorcan Breeze restaurant offers a unique dining experience,

showcasing locally sourced ingredients and talented chefs.

- At the same time, we also offer variable decoration, different capacity,

diverse view in each rooms that suitable for every customers’ demands.

2. Weaknesses

- As a boutique hotel, we have a limited number of rooms, which may

impact overall revenue potential compared to larger hotels.

- Seasonal variability in Mallorca's tourism may require creative

marketing and revenue management strategies.

3. Opportunities

- The scenic location of the Hotel offers a rare opportunity for visitors to
website an authentic experience on a warm Mediterranean island.

- The growing interest in sustainable tourism aligns with our eco-friendly

initiatives, appealing to travelers who prioritize environmental
responsibility.

- The trend toward experiential travel provides opportunities for us to

offer culturally immersive experiences to guests.

- Mallorca's emerging reputation as a luxury travel destination opens

doors for boutique hotels catering to the discerning traveler.

4. Threats

- Intense competition in the hospitality industry, including from

established luxury hotels and other boutique properties.

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- Economic downturns and global crises can impact travel trends and the
willingness of travelers to spend on luxury accommodations. It is
causing the market to fall steeply.

- Environmental factors like extreme weather events can influence travel

patterns and business operations.

D.Operation plan
1. Reception and Check-In

At Boutique Hotel, we prioritize making our guests feel at home from the
moment they arrive. Our reception and check-in process is designed to
offer a warm, personalized, and efficient experience.

- Warm Welcome: As soon as guests enter our hotel, they are warmly
welcomed by our reception team. Our staff is not just trained for
efficiency but also for friendliness and attentiveness. We understand
that the first impression sets the tone for the entire stay, and we aim to
make it a positive one.

- Efficient Check-In: Our reception team is well-versed in the check-in

process, ensuring that it proceeds smoothly. Guests are provided with
all necessary information and assistance. This includes verifying
reservations, explaining hotel amenities and services, and answering
any initial queries.

- Digital Booking System: To enhance the check-in experience and

minimize wait times, we've implemented a cutting-edge digital
booking system. This system allows guests to quickly access their
room details and key cards, simplifying the process further. In keeping
with modern preferences, we offer contactless check-in and checkout
options, allowing guests to use their mobile devices for these
processes if preferred. Customers can easily book through online
applications and several supported websites.

- Personalization: We believe in personalizing the experience for our

guests. If they have specific preferences or requests, our reception
team is there to accommodate them, whether it's room location, bed
preferences, or other special needs.

- Concierge Services: In addition to check-in, our receptionist serves as a

concierge, providing recommendations on local attractions,
restaurants, and activities. We can also assist with booking tours,
transportation, or any other guest requests.

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2. Housekeeping and Room Maintenance

Our housekeeping team maintains the cleanliness and comfort of each

room and suite. Regular inspections are conducted to address any
maintenance needs promptly. In line with sustainability practices, we
encourage guests to participate in linen and towel reuse programs.

- Daily Cleaning: Our housekeeping team performs daily cleaning

routines to ensure that each room is clean. This includes making beds,
cleaning surfaces, vacuuming, and additional amenities. The goal is to
provide guests with a fresh and inviting space each day.

- Regular Inspections: Our commitment to guest satisfaction goes beyond

the initial cleaning. Regular inspections are conducted to identify and
address any maintenance needs promptly. This proactive approach
ensures that rooms and facilities are in excellent condition throughout
a guest's stay.

- Linen and Towel Reuse Programs: As part of our sustainability

practices, we actively encourage guests to participate in our linen and
towel reuse programs. This initiative not only conserves resources but
also contributes to reducing the environmental footprint of our
operations. Guests who opt for the program can rest assured that their
choices align with eco-friendly practices.

- Eco-Friendly Products: We use environmentally friendly cleaning

products and practices in our daily housekeeping routines. These
products are not only effective in maintaining cleanliness but also
contribute to our commitment to sustainability.

- Guest Preferences: We understand that every guest has unique

preferences. Our housekeeping team is attentive to individual requests
and room setup requirements. Whether it's pillow options, room
temperature, or any other personal preference, we strive to create a
customized and comfortable environment for each guest.

- Rapid Response: In the rare event that a guest encounters an issue in

their room, our maintenance team is on standby for rapid response.
We aim to resolve any concerns or maintenance needs as quickly as
possible to ensure that the guest's stay remains enjoyable.

3. Dining Services

The Mallorcan Breeze restaurant operates daily, offering breakfast, lunch,

and dinner services. Reservations can be made through our website or

10
with the assistance of our guest services team. The kitchen is equipped
with state-of-the-art appliances and staffed with highly trained culinary
professionals.

- Daily Operations: The Mallorcan Breeze restaurant operates daily,

serving guests for breakfast, lunch, and dinner. This ensures that our
guests have access to exceptional dining experiences at any time
during their stay. Whether it's a leisurely breakfast, a midday snack, or
a romantic dinner, our restaurant is there to satisfy your cravings.

- Culinary Excellence: The heart of our dining experience lies in our

kitchen, which is equipped with state-of-the-art appliances and staffed
with highly trained culinary professionals. Our dedicated chefs bring
their expertise and creativity to every dish they prepare, ensuring that
every meal is a work of art. The culinary team is committed to using
the tastiest and freshest local ingredients, showcasing the flavors and
traditions of Mallorca.

- Menu Variety: Our menu is designed to cater to a diverse range of tastes

and preferences. From traditional Mallorcan cuisine to international
flavors, there is something to delight every palate. Guests can savor
fresh seafood, delicious meats, and vegetarian options, all
complemented by a variety of wines and beverages.

- Ambiance: The Mallorcan Breeze restaurant provides an inviting and

stylish ambiance, perfect for any occasion. Whether it's a casual meal
with friends, a romantic dinner, or a celebration, our restaurant offers
an ideal setting. Guests can choose from indoor or outdoor dining,
both of which offer scenic views and a relaxed atmosphere.

- Culinary Events: To enhance the dining experience further, we

periodically host culinary events such as wine tastings, themed
dinners, and special holiday meals. These events offer a unique
opportunity for guests to immerse themselves in Mallorcan's
gastronomy and culture.

4. Guest Services and Concierge

Our guest services team provides personalized assistance to help guests

plan and make the most of their stay. This includes arranging local
excursions, and transportation, and offering recommendations for dining
and entertainment.

- Personalized Assistance: Our guest services team is available around the

clock to provide personalized assistance. Whether it's a special request, a

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question, or a need that arises during your stay, our team is committed to
addressing it promptly and professionally. We believe in making your
stay as stress-free and enjoyable as possible.

- Local Excursions and Activities: Mallorca is a treasure trove of

experiences, and our guest services team is your gateway to exploring this
beautiful island. They can assist in planning and arranging local
excursions and activities, whether it's a visit to historical sites, water
sports adventures, or exploring the vibrant culture of Mallorca.

- Transportation: For your convenience, we can help arrange

transportation to and from the hotel, as well as for any excursions or
outings you have planned. Our connections with local transportation
providers ensure a seamless and safe travel experience.

- Dining Recommendations: Mallorca is renowned for its culinary

offerings, and our guest services team is well-versed in the local dining
scene. They can provide recommendations for restaurants, cafes, and
eateries that suit your preferences and cravings. From authentic
Mallorcan cuisine to international flavors, we have details information on
the best dining options.

- Entertainment and Events: If you're seeking entertainment or want to

explore local events, our team is here to keep you informed. We can
provide details about upcoming festivals, concerts, art exhibitions, and
other events that align with your interests.

- Special Arrangements: We understand that special occasions deserve

special attention. Whether it's a romantic getaway, a honeymoon, or a
celebration, our guest services team can assist in making the necessary
arrangements to ensure that your stay is memorable.

- Language Assistance: If you're more comfortable communicating in a

language other than English or Spanish, our multilingual team can assist,
providing ease and comfort during your stay.

5. Event Planning and Hosting

Boutique Hotel Paradise offers event planning services for weddings,

conferences, and special occasions. Our event coordinator works closely
with clients to ensure a smooth and memorable experience.

- Diverse Event Services: Boutique Hotel specializes in a wide range of

events, including weddings, conferences, corporate gatherings, and
special occasions. We recognize that each event is unique and has distinct

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requirements. Our team is adept at tailoring our services to meet your
specific needs.

- Expert Event Coordinator: Our experienced event coordinator is at the

heart of our service. They work closely with clients to understand their
vision and objectives. With a keen eye for detail and a wealth of industry
knowledge, our coordinator ensures that every aspect of the event is
meticulously planned and executed.

- Customized Planning: We believe in customizing every event to reflect

the preferences and style of our clients. From selecting the perfect venue
within our boutique hotel to arranging decor, catering, entertainment, and
more, our team ensures that your event is a true reflection of your vision.

- Seamless Execution: Our commitment to a smooth and stress-free event

extends to the day of the occasion. Our staff is well-trained to manage
every detail, ensuring that everything runs seamlessly. This leaves you
free to enjoy the event and create cherished memories.

- Culinary Excellence: As with all our services, our culinary offerings are
of the highest quality. We take pride in serving delectable cuisine that
delights your guests' taste buds. Our catering team can create customized
menus to suit the theme and preferences of your event.

- Venue Options: Boutique Hotel Paradise offers a selection of versatile

venues that can be adapted to your event's needs. From intimate
gatherings to grand celebrations, we have the perfect space to create the
atmosphere you desire.

- Attention to Detail: We are renowned for our attention to detail,

ensuring that nothing is overlooked. From floral arrangements to lighting,
audiovisual setup, and every element in between, our team is committed
to making your event truly exceptional.

6. Environmental Responsibility

We have implemented eco-friendly practices throughout our operations,

including energy-efficient lighting, waste reduction, and the use of
sustainable products. We monitor our environmental impact regularly and
make adjustments as needed to minimize our footprint.

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7. Training and Professional Development

Staff members receive ongoing training and development to maintain

their skills and enhance guest service. Training includes cultural
awareness, eco-friendly practices, and customer service excellence.

8. Supplier and Partner Relationships

We maintain strong relationships with local suppliers and partners to

ensure the availability of high-quality products and services. This
includes collaborations with local artisans and cultural organizations to
offer unique experiences to our guests.

- Local Sourcing: We prioritize sourcing high-quality products and

services from local suppliers. This not only supports the local economy
but also ensures that our guests have access to the finest and freshest
ingredients, materials, and goods.

- Culinary Delights: Our collaboration with local farmers, fishermen, and

artisans allows us to offer a delectable dining experience. From farm-
fresh produce to freshly caught seafood, our kitchen benefits from the
richness of Mallorcan flavors.

- Unique Experiences: We have established partnerships with local

artisans and cultural organizations to provide our guests with unique and
immersive experiences. Whether it's participating in local craft
workshops, enjoying traditional performances, or exploring the island's
cultural heritage, these partnerships add depth and authenticity to our
guests' experiences.

- Customized Services: Collaboration with local experts allows us to offer

specialized services, such as guided tours, outdoor activities, and wellness
experiences. These services are tailor-made to ensure that our guests have
access to the best that Mallorca has to offer.

- Art and Decor: Our commitment to aesthetics and ambiance is reflected

in our partnerships with local artists and decor experts. This collaboration
results in the captivating visual appeal of our boutique hotel, from art
installations to interior design.

- Cultural Enrichment: Our guests have the opportunity to engage with

Mallorca's culture and heritage through partnerships with cultural
organizations. This includes exhibitions, performances, and activities that
bring the essence of the island to our guests.

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9. Health and Safety

We prioritize the health and safety of our guests and staff. We have
stringent health and safety protocols in place to address emergencies,
including fire safety, medical emergencies, and evacuation plans.

- Fire Safety: Our boutique hotel is equipped with state-of-the-art fire

safety measures and systems to safeguard you and your fellow guests. We
conduct regular fire safety drills and adhere to local regulations,
guaranteeing your peace of mind in case of unforeseen emergencies.

- Medical Emergencies: In the rare event of a medical emergency, we are

fully prepared to act swiftly and decisively. Our staff is trained to provide
immediate assistance, and we maintain strong communication channels
with local healthcare facilities to secure prompt medical aid, should it be
required.

- Evacuation Plans: Your safety is paramount. We've developed

comprehensive evacuation plans for various scenarios, always reviewed
and updated to ensure that, in any circumstance, every guest can be
evacuated safely and efficiently.

10. Technology Integration

We utilize the latest technology to enhance the guest experience,

including online booking systems, keyless room entry, and a user-friendly
website for easy reservations and inquiries.

- Online Booking Systems: We understand that convenience begins with

the booking process. That's why we offer an intuitive and user-friendly
online booking system. It empowers you to make reservations at your
leisure, whether you're planning well in advance or seeking a last-minute
getaway. With just a few clicks, you can secure your spot at our boutique
hotel.

- Keyless Room Entry: To enhance both security and convenience, we

offer keyless room entry. This innovative technology allows you to
access your room using your mobile device. Say goodbye to traditional
physical keys or cards. With keyless entry, your smartphone is your
passport to comfort and privacy.

- User-Friendly Website: Our website is designed with you in mind. It's

more than just an informational platform; it's a tool to streamline your
experience. You can easily navigate our website for reservations,
inquiries, and access to essential information about our hotel, services,

15
and local attractions. Whether you're seeking information about room
availability, exploring our dining options, or simply looking for travel
tips, our website has you covered.

- Interactive Communication: Communication is vital, and technology

enables us to stay connected with you throughout your stay. Our
technology integration includes interactive communication channels,
making it easy for you to reach out with any questions or requests.
Whether it's requesting room service, asking for local recommendations,
or seeking assistance, we're just a message away.

- Digital Concierge: Our digital concierge services are designed to

enhance your experience. From accessing local maps and guides to
making reservations for activities or dining, you can rely on our digital
concierge for all your needs. It's your personalized guide to the best of
Mallorca.

11. Feedback and Continuous Improvement

We actively seek and value guest feedback to make continuous

improvements. Regular evaluations of guest satisfaction and operational
efficiency help us adapt to changing guest preferences and industry
trends.

- Guest Feedback Channels: We have established multiple channels to

actively seek and collect guest feedback. Whether you prefer to share
your experiences through in-person interactions, comment cards in your
room, online reviews, or direct communication via email, our goal is to
make it easy for you to voice your thoughts.

- Timely and Responsive: Your feedback is not collected in vain. We take

pride in our timely and responsive approach. As soon as we receive your
input, our team begins to assess and address it. Whether it's a suggestion,
a concern, or a compliment, we believe in taking action promptly.

- Valuing Every Perspective: We recognize that each guest's perspective

is unique. Your feedback provides us with diverse insights into what
works and what can be improved. We approach every comment with an
open mind, appreciating the value of every point of view.

- Guest Satisfaction Evaluations: We conduct regular evaluations of guest

satisfaction to gauge the overall guest experience. These evaluations help
us understand the areas where we excel and the areas that might need
attention. They provide a comprehensive picture of your stay.

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 - Operational Efficiency: In addition to guest satisfaction, we analyze
operational efficiency. This includes everything from check-in and room
service to housekeeping and dining. By evaluating the efficiency of our
operations, we can ensure that your stay runs smoothly from start to
finish.

- Adaptation to Changing Preferences: The travel and hospitality industry

is ever-evolving, and so are guest preferences. Your feedback acts as a
compass guiding us through these changes. By adapting to your changing
needs and staying attuned to industry trends, we ensure that our services
remain relevant and in tune with the times.

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 E. Financial forecast
I. Income Statement (Profit and Loss Statement)

P&L 2022 2023 2024

Occupancy high season 95% 90% 92%

Occupancy low season n/a 25% 27%

Room rate, high season $155 $146 $150

Room rate, low season n/a $40 $44

Revenue $265,000 $300,000 $345,000

Renovation and Interior Design $17,000 $25,000 $30,000

Salaries and Benefits $35,000 $37,000 $40,000

Marketing and Advertising $10,000 $15,000 $22,000

Furniture, Fixtures, and Equipment (FF&E) $35,000 $40,000 $42,000

(furniture, bedding, kitchen equipment, and other

items)

Food and Beverage $24,000 $25,000 $28,000

Technology $4,000 $6,000 $8,000

(Website, software, program)

Utilities $15,000 $18,000 $24,000

(electricity, water, gas, internet, and telephone

services)

Repairs and Maintenance $10,000 $12,000 $15,000

Contingency Funds $4,000 $4,000 $4,000

Legal fees $2,000 $0 $0

Insurance $4,000 $4,000 $5,000

Operating Expenses $170,000 $186,000 $218,000

Net income $95,000 $114,000 $127,000

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II. Analyze changes in the P&L Statement from 2022 to 2024
1. Occupancy Rates

- High Season: The high-season occupancy rate decreases from 95% in

2022 to 92% in 2024.

- Low Season: The low-season occupancy rate increases from 25% in

2023 to 27% in 2024.

Reason: The decrease in high-season occupancy due to increased

competition or external factors affecting travel trends in Mallorca.
Moreover, markets have gone into decline so there will be a setback in
the customer arrival rate. The increase in low-season occupancy in 2023
and 2024 showcases that the hotel will be open during the low season in
2023, however, as a consequence of low visitor arrivals, new marketing
and advertising campaigns need to be launched.

2. Room Rates

- High Season: High-season room rates decrease from $155 in 2022 to

$150 in 2024.

- Low Season: Low-season room rates increase from $40 in 2023 to $44
in 2024.

Reason: The decrease in high-season room rates could be a response to

market demand and competition. The increase in low-season room rates
indicates a strategic decision to capture higher revenue during off-peak
periods, potentially by offering enhanced services or experiences. Several
predictions have been made to demonstrate the potential success of
marketing and advertising programs.

3. Revenue

The total revenue will increase from $265,000 in 2022 to $345,000 in

2024.

Reason: The overall increase in revenue is mainly driven by the improved

low-season occupancy rates and room rates. The hotel's ability to attract
guests during less popular travel times contributes to revenue growth.

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4. Expenses

- Renovation and Interior Design: These expenses increase from $17,000

in 2022 to $30,000 in 2024, reflecting the need for ongoing property
enhancements to maintain a fresh and appealing atmosphere.

- Salaries and Benefits: These expenses increase gradually due to regular

salary adjustments, cost of living increases, or hiring additional staff to
meet increased demand.

- Marketing and Advertising: This expense has increased over the years,
indicating a focus on marketing strategies to attract more guests.

- Furniture, Fixtures, and Equipment (FF&E): These costs also increase

as the hotel invests in new or upgraded furniture and equipment.

- Food and Beverage: These expenses increase, reflecting investment in

enhancing F&B offerings.

Reason: The increase in expenses is aligned with efforts to maintain and

improve the quality of services and guest experience, which can lead to
increased revenue and profitability over time. The marketing and
advertising segments have significant budget increases because the hotel
needs to attract more visitors in the low season and compete with other
establishments.

5. Legal Fees

The elimination of legal fees suggests that any legal matters that required
expenses in 2022 have been resolved.

6. Net Income

Net info will increase from $95,000 in 2022 to $127,000 in 2024.

Reason: The improved net income is a result of increased revenue, cost

management, and the hotel's ability to maintain profitability despite some
expense increases. The adjustments made in occupancy rates, room rates,
and expenses have contributed to this positive trend.

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 F. Funding Request
We have conducted a thorough financial analysis, and based on our
projections, we anticipate a steady increase in revenue and profitability
over the coming years. We are confident that with your investment, we
will achieve our financial goals and secure a bright future

Funding Requirement:

We are seeking a funding injection of $4,000,000 to achieve the

following key objectives:

Renovation and Expansion: A significant portion of the funds will be

allocated to renovate and expand our existing facilities. This includes
upgrading guest rooms, and common areas, and the addition of new
amenities to enhance the guest experience.

Marketing and Branding: We plan to invest in a comprehensive

marketing and branding campaign to raise awareness and attract a broader
customer base. This includes online marketing, social media presence,
and partnerships with travel agencies.

Sustainability Initiatives: We are committed to sustainability and aim to

implement eco-friendly practices. Part of the funds will be allocated to
initiatives such as energy-efficient lighting, waste reduction programs,
and sourcing local, organic products.

Technology and Innovation: The boutique hotel industry is evolving,

and we want to stay at the forefront of technological advancements.
Funds will be used for improving our property management system, and
booking platforms, and enhancing the guest experience through
innovative technology.

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 SECTION II
DISCUSSING IDEAS
1. Using social media effectively

Social media is an essential way to reach our customers, gain valuable

insights, and grow our brand. With the high growth of technology,
millions of people across the world use social media platforms like X,
Instagram, Facebook, or TikTok - the most currently downloaded
application. We can build a social media account and use it for marketing
and communication

a. Increase brand awareness

The marketing team needs to update consistent posts and engaging

content to raise awareness of visitors about our destination. We may take
pictures of our sightseeing places, families, and visitors entering the
attractions. Then, uploading them with trending, humorous captions

b. Approach visitors more smoothly

On our social media platforms, we can add a link for customers to

directly contact us in case they have any questions or problems about our
products or services. It is not only an opportunity to build a stronger
relationship with customers but also a way to give them assistance on
hand

c. Show the value of product or services

Once potential customers are aware of our destination, they will move on
to the next phase: "consideration". It's a golden time to show them how
we operate and what we offer.

2. Understanding our clientele

Understanding the clientele is essential for tailoring marketing strategies

and services to meet the specific needs and preferences of our target
audience. Not only does it help attract new customers but also fosters
repeated business and long-term relationships. It's an ongoing process
that develops as customer preferences change over time

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a. Meet visitors' expectations

It's clear that some visitors had specific expectations based on

information they received, so we need to ensure that the information
provided on its website, leaflets, and other communication channels
accurately reflects the services and amenities available. Providing tourists
with refreshment services at tourist attractions. Renovate the children's
entertainment area, making it more diverse and colorful"

b. Survey customer needs and preferences

We make improvements based on the feedback our guests leave, to

understand satisfaction levels and prioritize areas for improvement

c. Modernize its marketing strategies

- Improving the website with interactive features, implementing search

engine optimization (SEO), banner advertising, and email marketing.
Creating smartphone-friendly content like podcasts can also help.

d. Training staff attitude

- Precept " Customer-Centric " prioritizes customer satisfaction and

creates a welcoming and positive environment for visitors. - Training
professional tour guides to provide engaging and informative content.
Information must be accurate, relevant, and narrative to create truth or
history and appeal to different visitor segments

3. Revamp our website

A summary of the Genesis Valley with highlights of important places;

Hotel recommendations with web links to hotels and booking sites;
Information about outdoor recreational activities; Directions to art and
cultural venues including museums, cinemas, and other attractions; Maps
and signposts; Information about public transportation; Airport
information.

a. Designs on website

The website should not have too many colors, and font sizes and not
display more than 250 words of text on a page as well as making sure
there are no mistakes. The website should also show beautifully, have
sharp images, and make searching for tour information, viewing hotel

23
rooms, booking tours, and booking rooms very easy and intuitive.

b. Website methods speed

Transactions should only take 2 - 4 seconds. This helps customers have a

more perfect browsing experience, reducing the rate of visitors leaving
the travel website.

4. Suggestions by the media consultant

a. Search Engine Optimization (SEO)

Implement an SEO strategy to improve the website's visibility in search

engines. Optimize website content with relevant keywords to attract
organic traffic and potential customers."

b. Email Marketing Campaigns

Develop a structured email marketing strategy that includes regular

newsletters, promotional offers, and personalized content for subscribers.
This can help re-engage past customers and attract new ones

c. Influencer Marketing

Collaborate with local influencers or relevant industry influencers to

promote the business. They can help reach a wider and more engaged
audience.

5. Percentage of money spent on advertising

a. Reduce Printing Costs (Flyers and Brochures)

Given that flyers and brochures are considered outdated and ineffective,
allocate a smaller portion of the budget to this medium. Consider
transitioning to more digital and interactive forms of promotion, such as
social media advertising or content marketing.

b. Increase Investment in Email Marketing

Since email marketing is considered an effective way to reach customers,

allocate a higher percentage of the budget to personalized email
campaigns. Utilize customer data to create engaging and tailored email
content that can help establish a stronger connection with clients.

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c. Boost Online Advertising

Consider allocating a larger portion of the budget to online advertising,

including website advertising. Online advertising is viewed as a cost-
effective and precise method to reach potential customers. It allows for
quick updates and provides detailed information, making it a valuable
channel for promotion.

Action Plan
A. Current situation

Visitor Experience and Attractions: The visitors express dissatisfaction

with the available attractions and amenities. The problem that we are
facing is failing to attract the customer's attention as well as not meeting
the visitor's desire for attractions, amenities, and services. Lack of
innovation aspect, authentic and compelling experiences.

Outdated Information and Technology: The company may be left

behind in providing up-to-date and relevant information and services to
its visitors. Haven’t adapted to modern technology (e.g., podcasts,
smartphone information), which is a drawback in the time when more and
more tourists use the network platform to indicate their destination.

Staff proficiency: Several customers have complained about the

unprofessional guide at the site, their skill of presenting, attracting
customer attention,… haven’t met the company standard.

Inefficient marketing strategies: the analysis follow-up will

demonstrate how the budget is distributed in marketing segments:

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We are spending too much budget printing flyers and brochures, which
covers almost the budget for advertising, approximately 50% out of 60%.
Even when it is an unnecessary, outdated, ineffective way of promoting
our attractions, and catching our client's attention. Because the clients
won't waste their time to look carefully at the flyers which received on
the street.

Radio spots keep the third position in our budget. It is one of the most
effective methods which can approach our customers smoothly.
Smartphones and the automobile industry are growing bigger and bigger
in integrating listening radio functions while using these vehicles.
Nowadays, many people have little time for reading or searching, so
listening can be the most convenient way to help our clients update new
information or events promptly. Besides teenagers, the middle-aged class
and grassroots are also interested in listening radio as a way of
entertainment and updating the news.

Email contact has the second position in the report. It seems an effective
way to help our business have an outstanding place in the customer's
mailbox. We can base on our customer's data such as their full name,
location, ages, gender, and hobby.....to create personalized emails for
each recipient. In this way, the customers can open the mail, and follow
the information that has been attached. Thereby, we will have a chance to
boost the integration between the customer and our business.

We need to pay more attention to advertising on the website. TikTok is

the most compatible method that helps us find more potential customers,
but it is just in the fourth position in our priority. Website provides the

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speedy and precise information for the receiver, and it is also easier to
update if there are any changes. This method doesn't require as much
human resources, working time, or budget as traditional advertising.
Moreover, a good-looking website can play an indispensable role in
building shopping habits and increasing the search demands of visitors.

B. Action Plan

The main objective of this action plan is to boost the visitor numbers in
Genesis Valley, the strategy has a budget constraint of 20,000$ and a 3-
month timeline. This action plan aims to demonstrate an outline of the
operation:

1. Using social media effectively

The strategy mainly focuses on increasing brand awareness and allowing

the customer to have a further understanding of our company's product
and specialty. This operation will be initiated throughout 3 three-month
period.

 Contact KOL (Key opinion leader) & KOC (Key opinion

customer) to promote the establishment, attracting more and more
visitors through social media, especially TikTok. Moreover, it
enhances the authentic experiences of potential customers.
 Take pictures of our sightseeing places, families, and visitors
entering the attractions to put them on our homepage. So the visitor
can know more about what types of activities we offer and how
amazing they are.
 Update relevant and trendy content regularly (2 days per post),
with a concentration on X and TikTok, platforms with a large
number of visitors. We also pay more attention to international
tourism apps such as Air BnB, Booking, and Trivago,…to help our
destination be one of the best choices when customers look for
interesting attractions for their trip.

2. Revamp the website

The design and marketing department will be responsible for revamping

the website.

Designs websites: create the website with several criteria, such as

without too many colors, and font sizes, do not display more than 250
words of text on a page as well as make sure there are no mistakes. The
website should also show beautifully, have sharp images, and make

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searching for tour information, viewing hotel rooms, booking tours, and
booking rooms very easy and intuitive.

 Design an appealing header on the homepage, and organize the

content in logical order
 Upload enough videos and images for better illustration
 Create a uniform design, so each page looks as if it belongs to the
same site for the customer to easily keep track.

Website access speed: Improving the website access speed, and

upholding more bandwidth to enhance the Transactions should only take
2 - 4 seconds. This helps customers have a more perfect browsing
experience, reducing the rate of visitors leaving the travel website.

Operate the website: keep the website up to date with the latest changes
or pieces of information at the establishment. Inform

3. Training the staff

Human resources - the learning department will be responsible for this

strategy.

 Develop a comprehensive training program for staff to instill a

customer-centric attitude. Opening more training programs
throughout later working periods to enhance staff-relevant skills.
 Equip tour guides with the skills to provide engaging and
informative content, emphasizing accuracy, relevance, and
storytelling.
 Implement a feedback system for visitors to rate staff interactions,
ensuring continuous improvement.

=> Timeline:

Week Week Week Week Week Week Budget

1-2 3-4 5-6 7-8 9-10 11-12
20,000$

Increase the 13,000$

brand awareness

Revamp our 4,000$

website

Training the staff 3,000$

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TABLE OF CONTENTS
BUSINESS PLAN.....................................................................................2
A. Executive summary............................................................................4
1. Market Opportunity..........................................................................4
2. Key Features and Differentiators......................................................4
3. Target Market...................................................................................4
4. Market research highlights...............................................................5
5. Strategic Goals..................................................................................5
6. Conclusion........................................................................................5
B. Market Research.................................................................................6
1. Tourism in Mallorca.........................................................................6
2. Growth in Boutique Hospitality........................................................6
3. Target Market Preferences................................................................6
4. Visitors demographic........................................................................7
C. SWOT analysis...................................................................................8
1. Strengths...........................................................................................8
2. Weaknesses.......................................................................................8
3. Opportunities....................................................................................8
4. Threats..............................................................................................8
D.Operation plan.....................................................................................9
1. Reception and Check-In...................................................................9
2. Housekeeping and Room Maintenance..........................................10
3. Dining Services...............................................................................10
4. Guest Services and Concierge........................................................11
5. Event Planning and Hosting...........................................................12
6. Environmental Responsibility........................................................13
7. Training and Professional Development........................................14
8. Supplier and Partner Relationships.................................................14
9. Health and Safety............................................................................15
10. Technology Integration.................................................................15
11. Feedback and Continuous Improvement......................................16
E. Financial forecast..............................................................................18
1. Occupancy Rates............................................................................19
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 2. Room Rates.....................................................................................19
3. Revenue..........................................................................................19
4. Expenses.........................................................................................20
5. Legal Fees.......................................................................................20
6. Net Income......................................................................................20
F. Funding Request.............................................................................21
DISCUSSING IDEAS............................................................................22
1. Using social media effectively..........................................................22
a. Increase brand awareness................................................................22
b. Approach visitors more smoothly...................................................22
c. Show the value of product or services............................................22
2. Understanding our clientele...............................................................22
a. Meet visitors' expectations..............................................................23
b. Survey customer needs and preferences.........................................23
c. Modernize its marketing strategies.................................................23
d. Training staff attitude.....................................................................23
3. Revamp our website..........................................................................23
a. Designs on website.........................................................................23
b. Website methods speed...................................................................24
4. Suggestions by the media consultant.................................................24
a. Search Engine Optimization (SEO)................................................24
b. Email Marketing Campaigns..........................................................24
c. Influencer Marketing......................................................................24
5. Percentage of money spent on advertising........................................24
a. Reduce Printing Costs (Flyers and Brochures)...............................24
b. Increase Investment in Email Marketing........................................24
c. Boost Online Advertising...............................................................25
Action Plan..............................................................................................25
A. Current situation............................................................................25
B. Action Plan......................................................................................27
1. Using social media effectively........................................................27
2. Revamp the website........................................................................27
3. Training the staff.............................................................................28

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