Step by Step Guide to Build a Hotel

starting or building a hotel or a resort is different from other real estate development, due to the amount of capital investment involved, time required to complete the project and the number of specialties and processes involved. hotel development involves careful planning and coordination of various aspects, ranging from the selection of land (which can either be purchased or leased) to the final grand opening of the hotel. conducting market feasibility study and projecting the financial viability of the project is very important to ensure if the project can really generate expected return on investment (roi). formulation a well prepared business plan plays a vital role in giving the right direction to the business and also in convincing potential investors, to raise finance from different sources, for hotel development, construction and operations. another important aspect is to contemplate, if the hotel can be run and managed on its own, under its own banner, or is it beneficial t