Bubble Economy
1.0 Introduction
NEIMOMA represents “How are you” in Chinese, which gives a good impression when the tourists first come to the hotel. NEIHOMA is a 3 stars hotel, which is situated on the seafront and a short distance from the main shopping center. The aim of this report is to increase the stars level from 3 to 4 when running the business. The purpose is to analyze the hotels’ actions from year 1 to year 3, with data and graphs explanation, to measure the overall performance. Firstly, this report shows the overview of the hotel. Secondly, will discuss the business plans for the last three years. Lastly, analyze the financial performance from year 1 to year 3.
2.0 Overview of Business Plan for the last three years
2.1. Positioning and mission statement
Mission statement
To be and be seen to be, the best restaurant in the town
To assist the valued guests with tour bookings and local information
To ensure the guests have the most comfortable accommodation and services possible
To satisfy the customers’ needs and want
To provide the best food and beverage courses for customers
Positioning strategies
At first, the hotel was in 3 stars, but it would be developed to 4 stars hotel during the next 3 years. The target market was the corporate who usually read business press and willing to use direct mail. In addition, the target market was willing to spend a higher price to have a better meal and liquor, so the food and beverage would be set at a higher price.
2.2. Year 1:
2.2.1. Objectives 1. Earn More than $1,000,000 at the end of year 1 2. Increase Public Awareness Index to 50 at the end of year 1 3. Increase Room Occupancy to 50% at the end of year 1 4. Decrease the turnover rate to 70% at the end of year 1 5. Build all the facilities at the end of year 1 6. Increase the Room Market Share to 9 at the end of year 1
7. Increase the Market Image Index to 45 at the end of year 1
2.2.2. Strategies
This was the first year of the hotel, so there
NEIMOMA represents “How are you” in Chinese, which gives a good impression when the tourists first come to the hotel. NEIHOMA is a 3 stars hotel, which is situated on the seafront and a short distance from the main shopping center. The aim of this report is to increase the stars level from 3 to 4 when running the business. The purpose is to analyze the hotels’ actions from year 1 to year 3, with data and graphs explanation, to measure the overall performance. Firstly, this report shows the overview of the hotel. Secondly, will discuss the business plans for the last three years. Lastly, analyze the financial performance from year 1 to year 3.
2.0 Overview of Business Plan for the last three years
2.1. Positioning and mission statement
Mission statement
To be and be seen to be, the best restaurant in the town
To assist the valued guests with tour bookings and local information
To ensure the guests have the most comfortable accommodation and services possible
To satisfy the customers’ needs and want
To provide the best food and beverage courses for customers
Positioning strategies
At first, the hotel was in 3 stars, but it would be developed to 4 stars hotel during the next 3 years. The target market was the corporate who usually read business press and willing to use direct mail. In addition, the target market was willing to spend a higher price to have a better meal and liquor, so the food and beverage would be set at a higher price.
2.2. Year 1:
2.2.1. Objectives 1. Earn More than $1,000,000 at the end of year 1 2. Increase Public Awareness Index to 50 at the end of year 1 3. Increase Room Occupancy to 50% at the end of year 1 4. Decrease the turnover rate to 70% at the end of year 1 5. Build all the facilities at the end of year 1 6. Increase the Room Market Share to 9 at the end of year 1
7. Increase the Market Image Index to 45 at the end of year 1
2.2.2. Strategies
This was the first year of the hotel, so there