From shoe to millionaire, how do you build a hotel?

Would you like to have your own hotel or guest house? The hotel industry attracts with its extraordinary magic, the possibility to meet new people and cultures from all over the world without the need to travel all over the world. But what do you need to know before you decide to invest in your own hotel?

Forward-looking thinking

Before you make any decisions, there are a few things you should think about. First of all, try to find and fill a niche in the market. Another hotel facility within the radius of a dozen or so others is a rather small chance to achieve spectacular success. Select a location well and adjust the size and character of the object to it. A training and conference hotel in a large city is connected with other activities and plans at the construction stage and later, at the management stage, than e.g. a SPA facility outside the city. It is worth knowing what we want and what we will feel good about ourselves, so that the implementation of plans does not turn out to be a nightmare mistake, and the work of dreams - a lifelong ball in the leg.

Costs, calculations and partner

Few people can afford to finance such a large investment on their own, and even if they do, it's not so easy to manage it on their own. A trusted partner and partner can play a key role. Please note that the costs of building a hotel will be reimbursed only after a certain period of time. This makes it all the more important for the business plan to be careful and well thought out.

Good hotel business plan

A credible business plan should certainly include:

- strategic analysis: the attractiveness of the sphere of activity, the size and structure of the facility, the influence of buyers and suppliers, the SWOT analysis and the strategic assumptions and objectives should be taken into account;

- marketing strategy;

- assumptions and forecasts: related to sales and estimated costs and result based on operating and financial activity; profit and loss account; balance sheet; financial flow;

- ratio analysis (project profitability, liquidity ratio, capitalization)

- a break-even analysis

- assessment of the sensitivity of the project

- evaluation of the return on investment

Land, property - and what happens next?

Before making a decision to purchase a property or a plot of land, it is necessary to familiarize oneself with the spatial development plan - thanks to which we will learn detailed information about the purpose of the land and development conditions.

The next stage is definitely not very pleasant - we are talking about a loan for an investment. If not, then you have to take care of the size and cost of the loan, get to know the details of the loan period, the nuances and restrictions related to debt service and the impact of the loan on the overall profitability of the undertaken investment.

Wanted expert.

With a loan in your hand you can proceed to action. And here begins: choosing a project and a concept, buying a property, obtaining a building permit - and implementing a business plan in practice. At this stage we cannot do without a professional or even a whole group of trusted specialists. Any idea of an architect is worth consulting with a building expert and a hotelier. The former will tell us whether the idea of an architect is possible to translate into reality, while the latter will tell us whether it makes sense and whether it will bring expected profits.

Do not forget about the invaluable role of permanent construction supervision - the principle of 'guarded Mr. God guards' works in the construction industry definitely! If we decide to cooperate with a reliable construction team, and we have a trusted construction supervision inspector, we can sleep peacefully. When we pass through the construction site happily and without any major disruption, we are awaiting partial and final acceptance as well as obtaining a permit to use the hotel.

Hotel for people

Hotel is created by people - trusted staff is the basis! The atmosphere prevailing among the team will directly translate into this perceptible by the guests, so it is worth taking special care of the employees and provide them and yourself with appropriate industry training. But even the best 'empty' team doesn't belong - other important aspects are reliable suppliers, the right equipment and contractors.

Take care of the comfort and transport of your hotel guests

For example, the hotel must certainly provide its guests with the opportunity to rent cars or at least cooperate with a proven taxi network. This may be of particular importance if we focus on business guests, training and conference services, or transfers of guests to and from the airport.

As the statistics show, the hotel industry in Poland is booming and the number of foreign guests visiting our country is constantly growing. So surely this sphere may turn out to be worth the effort and with the commitment and dedication to bring us quite measurable profits.

Finally, we would like to present a short download - hotel planning point by point:

The following documents should be obtained before the commencement of the investment:

- a map for design purposes,

- extracts and drawings from land registers,

- geological surveys,

- conditions for the supply of electricity, water, gas,

- road conditions.

Preparation of the hotel project, which consists of individual projects:

- architecture,

- electrical installation,

- Ventilation,

- c.o.c.

- water and sewage system,

- construction (geological surveys are also required).

The project must receive a positive opinion of the Sanitary Inspectorate and the fire brigade.

At this stage, a building permit must be applied for - the standard waiting time is 65 days.

5. after the construction of the object, it is necessary to take it over by a receptionist:

- Sanitary and Epidemiological

- fire brigade

- National Labour Inspectorate

- Building Supervision (Provincial Building Supervision Inspectorate)

6. object categorisation.