Mg 305 Business Plan - Eco-Central Pacific Resort
By: Grace Verso • May 12, 2016 • Business Plan • 8,077 Words (33 Pages) • 1,728 Views
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Contents
I. Executive Summary
II. Business Description
III. Statement on Sustainability
Environmentally Consciousness
Economically Sustainable
Socially Sustainable
IV. Marketing
MARKET NICHE AND MARKET SHARE
COMPETITIVE ANALYSIS
PRICING POLICY
Premium pricing
Bundle pricing
MARKET STRATEGY
V. Operations
Zoning
Tax
Proximity to suppliers
Access to transportation
VI. Sustainable Development Measures of Performance
Efficient Water Consumption
Reduce Energy Consumption
Waste Reduction
Reduce Carbon Footprint
Biodiversity Hotel
VI. Management
VIII. Financial Plan
Table A1.2
Table A1.3
Table A1.4
Scenario Analysis
Financing plan
IX. Critical Risks Segment
Price cutting by competitors
Marketing
Any potential unfavorable-industry wide trends
Damage due to Natural Disaster
Physical, regulatory or reputational risks due to climate change
Design or manufacturing costs in excess of estimates
Sales projections not achieved
Hotel development schedule not met
Power
Water
Transportation
Supplier Disruption
Political Instability
Harvest Strategy
Management Change
Hotel ‘Going Public’
Selling the Business
Management Buyout
XII. Milestone Schedule
Bibliography
Executive Summary
A 5 star hotel offering a Fiji Green Eco experience, Eco-Central Pacific Resort will be owned by the Fonmanu, Navuda, Harshmeetal and Versoni Partnership. The resort venture is anticipated to operate by 2017 and will be located in the heart of the Sabeto Mountains in Nadi amidst the green and lush rainforest.
This new hotel venture is anticipating to bring into Fiji’s tourism industry a new green adult exclusive experience that no other hotel of a 5star status offers within the country. Market offerings will include luxurious 5star packages incorporated with a totally green and rainforest experience up in the mountains. With a selective marketing strategy, Eco-Central Pacific Resort intends to attract those of the wealthy and upper-class societies who are our target market that are looking for an exclusive green experience.
With an initial investment of $69,998,040, resort sales are forecasted to be a figure of $40,551,500 in the first year which will increase by $12,981,716 by the third year. Annual net income is anticipated to rise to $18,469,589 in three years. In addition to this, scenario analysis of the business illustrates a positive net income can be achieved if sales volume do no drop more than 25% of the forecasted figure. Overall, the Eco-Central Pacific Resort is a feasible and profitable project to invest in, as given the marketing initiatives and revenue and financial figures.
Financial Highlights by end of 2019 | |
Annual Sales | $53,553,216 |
Annual Net Income | $18,469.589 |
Return on Equity | 14.6% |
Business Description
The business name Eco-Central Pacific Resort was chosen because it signifies the direction “to a sophisticated long-term worth of our property with an environmentally-friendly properties whose managers are keen to organize programs that save water, save energy and decrease solid waste—while saving money—to help PROTECT OUR ONE AND ONLY EARTH. It also aims to maintaining staff and repeat customers lasting as management evidently cares for their vigor and well-being, (Green Hotels Assosciation, 2015).”
The Hotel and Tourism Industry in Fiji is one that has markedly developed over the past 20years. A hefty share of the industry is motivated by the private sector. “Tourism underwrites roughly 17.0 percent to GD providing direct and indirect jobs to approximately 40,000 people. In 2012, it was projected that gross incomes from the tourism industry was $1.3bn, which is around 17.8 percent of GDP. There are presently 6889 hotel lodgings countrywide to accommodate for tourists of which 70% are occupied, (Investment Fiji, 2015).”
Tourist influxes into the country is promising with tourist arrivals accumulating progressively over the recent years with an upsurge of 366,520 tourist entrances from year 2000(294,070) to 2012(660,590). Tourism Fiji is looking towards the north to the mounting Asian states for upcoming development forecasts, namely China, South Korea and Taiwan. Moving onward, Tourism Fiji also devising to rebrand with the motto ‘Fiji, where contentment finds you’ to substitute the nation’s existing ‘Fiji Me’ crusade. With government assistance The Tourism industry is set to bring in a target of 1 million visitors by 2016.
“The Fiji tourism schemes involved natural & cultural, cruising, water sports & resort activities, yachting, surfing, diving, wedding & honeymoon, shopping, sports and community village tours. Openings available in the Tourism sector are: Agro Tourism, Spa Tourism, Health Tourism, Sport Tourism, Nautical Tourism, Retirement Resort Village, Integrated Resort, and Resorts & Villas, (Investment Fiji, 2015).”
At Eco- Central we will provide a variety of services that will be tailored to suit and satisfy the hotelier(s) trip making it intimate, worthwhile, fun, relaxing, memorable and enjoyable with the inclusion of our luxurious spas gourmet restaurant, green activities, and friendly services.
Statement on Sustainability
Sustainability involves the use of natural resources with a mindset of preserving them for our generations without totally exploiting them. As a hotel, it is important that we consider sustainability in our policies and mission statements as it provides us with a direction on how we are to go about with operations. According to the United Nations Report “Our Common Future”, Sustainable Development “is the development that meets the needs of the present without compromising the ability of future generations to meet their needs”. With this definition in mind, our hotel must carry out its operations in such ways that are consistent with this statement. In going about our business, Central Pacific Hotel will be guided by the following sustainability principles:
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