Business plan report for JW Marriott Hotel1 Introduction: This report is an exhaustive report on the overall business performance of JW Marriott for the last three years under new management. The team had drafted a highly effective plan which it hoped will position JW Marriott as one of the major players in the United States hotel industry. In the first section, the report will review the business plan of the company to analyze the strengths, weaknesses, opportunities and threats that face the business and what the management can do about them. In the second part the report will outline the objectives and strategies of the company in the future and how the company has been able to stay true to the previous ones.
Finally the report will analyze the financial performance and the projections for the next fiscal period. After the refurbishment JW Marriott hotel has become a 4 star hotel catering to practically all age brackets in America from the age of 20 (HOTS, 2012e). . With its excellent, guest rooms and luxurious experience, JW Marriott has positioned itself as a worthy competitor to players in the industry with the sole competitive edge of quality and innovation to offer our customers the best service in the sector ranging from conferencing to fitness facilities.
2 Business plan for year four 2.1 (SWOT)2.1.1 Current Strengths and weaknesses: Strengths- The hotel has refurbished facilities to level three which has cost a lot of time and money in excess of $5922020 by the close of the third year since the hotel was taken over by my team. This means that JW Marriott has 250 guest rooms. In addition to this it now has good looking bar and restaurant that will be able to attract clients and project a positive new image of the hotel for marketing purposes (HOTS, 2012d).
The hotel has managed to reduce the level of staff turn over to 45%. This means that the management has been able to ensure job satisfaction amongst its staff members as a result the clients will remain satisfied. This is a competitive edge over the rest of the players in the industry which should be encouraged and to also have maximum attention devoted to it to ensure that staff turn over falls to as low as 10%.
With the improved revenue collection by the hotel by the close of the third year, the net income had risen to an impressive $5260419 before tax (HOTS. 2012f). This means that the company is in a position to innovate and enhance the welfare of its clients as well as that of the employees by offering them rewarding training and better terms of payment. In addition to that the company will be able to roll out an effective marketing campaign to market its services and products.
Weaknesses-The customers have occasionally expressed concern on the amount o f money they pay for so little. It is the policy of the company to serve quality food and deliver quality service. While this is desirable it is as well known that to offer this the cost will be high. The biggest test is to balance between the cost and customer satisfaction. If not taken well care of t6o control the prices, it might have an impression in clients that the hotel is expensive.
Therefore this should be taken care of.