ESBP Individual report - Dhillon.docx - ESBP - INDIVIDUAL...

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Harmandeep S. DhillonST20187124 ESBP - INDIVIDUAL BUSINESS PLAN REPORTSUBMITTED TO MR. NATHAN
Table of ContentsBoard meetings for Refurbishment Proposal...............................................................................................2Business Plan...............................................................................................................................................2Rooms refurbishment costing......................................................................................................................3Rooms refurbishment timeline....................................................................................................................4Notice to guests...........................................................................................................................................4Converting lobby lounge into Café & bar.....................................................................................................4Café & bar budget........................................................................................................................................5Marketing budget proposal.........................................................................................................................6Café & bar timeline......................................................................................................................................6Pricing..........................................................................................................................................................6Hotel rooms prices...................................................................................................................................6Café and bar menu..................................................................................................................................7Sales & Marketing strategy..........................................................................................................................8Unique Selling Point....................................................................................................................................8Justification..................................................................................................................................................8Staff turnover and training..........................................................................................................................8Hiring staff for the bar.............................................................................................................................9Operational/Commercial Impact.................................................................................................................9Response to business environment and owners’ requests..........................................................................9Risk Management........................................................................................................................................9Reflective statement..................................................................................................................................10References.................................................................................................................................................11
Board meetings for Refurbishment Proposal First board meeting held July 02, 2020 at 4:30 PMThe given scenario was reviewed and discussed within the team and roles were assigned for each department according to knowledge and work experience. The agenda was discussed for losses in revenue, staff turnover, marketing strategy and customer profile such as business professional and leisure guests. We had to come up with proposal of opening lobby caféand bar to offer additional services at the hotel and add extra revenue.Second Board meeting held July 10, 2020 at 4:30 PMEvery department manager proposed plan and budget for refurbishment of rooms, opening café and barin lobby, staff turnover and marketing budget. All the proposals were thoroughly reviewed by GM and corrections were made and sent to owners for approval before the next board meeting. Third board meeting held July 17, 2020 at 5:30 PMThe meeting started with good news that proposed plan and budget was approved by the owners. The timeline was analyzed about starting work when it will least affect hotel operations. Operational strategies were discussed for refurbishment period. Problems and complaints by staff and guests critically analyzed and solutions to tackle problems discussed. Fourth board meeting held July 23, 2020 at 5:30 PMFinal and thorough review of budget, timeline, marketing strategy and how to implement sales and marketing plan during and after completion of project. The hotel is ready for refurbishment with a very effective business plan and staff is well aware of upcoming operational changes. Guests will be notified before refurbishment project starts. Everything is good to go! Business PlanNowadays, there is a cut-throat competition among hospitality industry. Hotel Dreams in Sky was built in 1980. The hotel growth has been falling from last 10 years due to advancement in customers’ preferences. There are 200 rooms. Most rooms have been refurbished last year. 30 standard rooms needto be renovated to meet target guests’ requirements, which are leisure and business clients. They prefer modern hotel rooms rather than old school. 10 rooms from the 30 will be upgraded and converted into 5superior rooms. A portion of the lobby lounge will be converted into Café and bar. Detailed marketing plan, training plans to reduce staff turnover are laid out in this report.

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Term
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