Hotel Business Plan in Song-Do

Topics: Hotel, Star, Incheon Pages: 13 (3773 words) Published: May 26, 2013

Business description
Our hotel offers accommodation for international travelers. For business travelers we offer a wide range of facilities such as conference and meeting rooms including all necessary conferencing equipment and security. Board of director/ manager

We have board members of above chart. We have 2 CFO to make strong financial foundation. We have the principal responsibility for fulfillment of the hotel's mission and the legal accountability for its operations. As construction proceeds, managers/directors will be added to the Board from the community. At all times, the majority of members will represent our hotel. Management team

Foundations’ management team will have direct knowledge of the hospitality industry and will possess the necessary professional administration skills. Our team will include a general manager, chief engineer, marketing personnel, and professionals with accounting experience. The team will tailor to the needs of the corporate client and will provide complementary personal services where needed. Foundations will offer all of its management team competitive salaries. Executive summary

Location: We are going to be located in Song-do. Song-do International Business District is a new ubiquitous city in Incheon, South Korea which connected to Incheon International Airport by Incheon Bridge.

Geographical markets
The primary market will be regional due to location of
1. Closest to Incheon international Airport, the best Airport in Asia 2. One of the Incheon Free Economic Zone (IFEZ). The goal of IFEZ is transforming three areas; song-do, Cheongna and Yeongjong into hubs for logistics, international business, leisure, and tourism for the Northeast Asian region. 3. International business district

4. Many other international firms located
* The Jack Nicklaus Golf Club Korea
* International casino (yeongjong)
* Posco RD center
* Bio- cluster
5. Investment incentives
* In order to attract many domestic and international businesses, three types of incentives are given: tax reductions, estate support, and subsidies. No taxes are levied on corporate and individual income for few years. The regional government does not impose the acquisition tax over 15 years and the property tax over 10 years. After 10 years of operation without any property tax levied, the business entities are imposed only 50% of the property taxes for three year. The period of corporate and individual income tax levied by the national government varies by the size and the types of the business moving into the district. For companies renting an office, at least 50% of rent reduction can be given to companies falls in the following criteria: "foreign investment rate between $5-10 million", "Average daily employment of 100-200 people", "Greater than 50% of production as exports, procurement of national parts and raw materials between 50-75%", and "Between 50-75% of production as exports" If a business entity has more than 30% of foreign investment, employers and employees of the organization can claim following benefits: the location subsidies, the facility subsidies, the education subsidies, the employment subsidies, the promotion result compensation, the business transfer subsidies, and the funding subsidies.

Vision of the future
The planned company can look forward to a promising future, because there are so much of benefits to generate profit according to its location.

To begin, our hotel will be divided into several departments. All department heads report to the General Manager who oversees all aspects of the operation, reporting directly to owners, franchisors and corporate offices.

The departments in the hotel division will include all of the following department heads: * Executive Housekeeper
* in charge of the day-to-day upkeep of the hotel rooms and public areas * Front Office...
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