Creating a Business & Marketing Plan can be very intimidating but if you have a good template & plenty of information about your business you shouldn't have any trouble. It's more about putting the pieces together in the correct order as long as you have the correct & accurate information

1. Planning + Execution=Success
 Business-Marketing-Action Plans
 S.W.O.T Analysis
 Strengths-Weaknesses-Opportunities-Threats
 Comp Set Analysis vs. Market Analysis

2. Business & Marketing Plans
Everything goes back to your overall Business Plan
•Marketing Plan + Action Plans x Business Plan = Overall Goals
•What are your Goals? Are revisiting them regularly? (Monthly)
•Team Goals: What would you like to see the hotel accomplish?
•Individual Goals: What are you working for?
• Your every day routine is a component that plays a HUGE ROLE
•How are you planning, organizing, communicating & branding?

3. Business Plan Outline
Summary
 Business concept
 Current situation
 Key success factors
 Financial situation/needs
Vision
 Vision statement
 Milestones
•What is your Mission Statement?
•Keeps you focused & organized
•Revisit (Daily, Weekly, Monthly)
•Know your current situation
•What’s realistic to accomplish?
Envision Success “Constructive Daydreaming”

4. Overall Game Plan Vision-see ‘big picture’

5. Strategy
 Implementing strategy
 EXECUTION!
Market analysis
 The overall market
 Changes in the market
 Market segments
 Target market and customers
 Customer characteristics
 Customer needs
 Customer buying decisions
Competitive analysis
 Industry overview
 Nature of competition
 Changes in the industry
 Primary competitors
 Competitive products/services
 Opportunities Threats and Risks

6. Comp Set
•Know your Surroundings
•Know your Competition
•Know your Market Attractions
•Know your Key Demographic

7. Marketing and Sales
 Marketing strategy
 Sales tactics
 Guerilla Marketing
 Advertising
 Partnerships
 Promotions/Incentives
 On-Line Presence
 3rd Party Websites

8. Action Plans: (Revisit Monthly)
 Top 4-5 Target Market Groups
 Goals: S.M.A.R.T
 Aggressive but Attainable
 Build off of previous year
 Time Sensitive
 Revenue & Time Specific
 ‘X’ Amount Rooms (how?)
 Accountability
 Who is responsible? Why?
 Date to be completed
 Delegate to others=Team Effort

9. Action Plans (Coralville Example)
 Leisure
 1-4 Guests (Walk-In Traffic)
 Word of Mouth, Market Trends, Advertising
 Corporate
 Negotiated Rates based on LOS & Frequency
 Own your area! Businesses within 10-20 mile radius
 University of Iowa/UIHC (Hospital)
 Key Departments of Interest
 Partnerships, Referrals & Constant Hotel Needs
 Government
 American Legions, VA Hospitals, Fed Rooms, D.O.T
 Groups & Tours
 Sporting Events in the Area (Annually)
 Bus Tours-Companies