Our Competition Panda Tip: With a hotel business, it is easy to determine who your competition is as you will be in direct competition with other local hotels, and depending on where you are positioning yourself in the market, possibly hostels, motels, and bed & breakfasts.
Analyzing this competition to understand exactly what their strengths and weaknesses are is vital to developing your marketing plan.
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This is something you should have already started to describe in your Executive Summary, but here is where you get into detail.
If you have mockups of the facilities to be built and the rooms in which your guests will stay, you should absolutely include them here.
Don’t be afraid to include personal details either.
Investors like to put their money with people they like and people they trust, and details like hobbies, family and the like can endear these key parties to the reader.
Our Specific Marketing Plan Panda Tip: Given all that you have described regarding your demographic and competition, you should be able to make your reader understand why your marketing plan gives you an advantage in the market you have established in the previous paragraphs.
Be creative, and don’t be afraid to explore strategic partnerships with travel agencies and other businesses that can funnel clientele to your hotel.