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Resort development is a complex discipline, requiring meticulous planning, strategic design, procurement, construction, operations and marketing. This involves estimating construction costs, operating expenses, revenue projections and return on investment (ROI) calculations and identifying potential risks and opportunities.
Similar to how architects create blueprints before constructing a building, it’s essential to have a strategic plan when starting a hotel business. It provides guidance for your actions and decisions as you take the project forward. Why do you need a hotel business plan? Securing initial funding is often necessary for any new venture.
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