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Started by : Adesh Dalvi, Marketing Executive, TAJ   05 04 2009 12:05:15 +0000
Industry : HospitalityFunctional Area : Innovation(Strategy & Execution)
Activity:  49 views;  last activity : 07 06 2010 20:18:09 +0000

Hotel development is a risky business. Because

  • Of all the hospitality projects being conceived today, three quarters will not make it out of the pre-planning stage.
  • More than half of those remaining will not make it past the planning phase.
  • Another 22% will not make it through design.
  • And some will even fail during construction.  
  • That's a 91% failure rate!

Therefore it becomes very important for the existing business to convert its problems into opportunities. So let us help the hoteliers by ideating here..

Your contribution does matter....!!

 
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1 2
1 Modifying the original plan
2 Anticipate

Modifying the original plan

idea posted by Ahmed Sultan, ITC Airline Consultant

Modifying the original plan to correspond with the existing (or short-term forecasted) demand. Unfortunately, hoteliers have little control on creating additional demand. The current demand will not be like that forever. Therefore, my approach depends mainly on the current phase of the project and using it as a basis to decide the feasibility of going forward or backward. The proposed modification could range:
•    From totally aborting the project if it is in pre-planning, planning, or design stage
•    To completing the project as previously planned and start the operation with skeleton manpower and apply tight-belt policy until the recovery of the market.

4
0
  
by Deepak , CFO, Hotel Highway Residency  | 07 17 2009 13:46:55 +0000

Mr. Ahmed told  is perfect. I am agree with him.

0
  
by Rajat Mittal, Product/Brand Manager, Jet Airways  | 05 05 2009 07:48:29 +0000

I agree to Mr. Ahmed, if we can modify the plan according to the situation it will be of great help.

Add your argument:

Anticipate

idea posted by Adesh Dalvi Marketing Executive, TAJ

Articulate a clear vision. Then take a hard look at your goals and objectives in light of market demand, financial projections, and feasibility studies. Anticipate regulatory hurdles and approvals. Proceed only if it pencils out.

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