29NL 7.1 New investment: Difference between revisions
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== Situation == | == Situation == | ||
As stated, the hotel is getting outdated and does have the liquidity to invest. Looking at the market and the cost structure, a maximum investment of € 900,000 is advised by the accountant of the hotel. Of course, here needs to be an exact plan on what to use this money for. First of all, you have to have a clear plan: what do you exactly want to do? Does this fit in with your strategy? Secondly, realize that investments bring costs, so will the revenues compensate the costs and will, in the end, the profit go up? <br> | As stated, the hotel is getting outdated and does have the liquidity to invest. Looking at the market and the cost structure, a maximum investment of € 900,000 is advised by the accountant of the hotel. Of course, here needs to be an exact plan on what to use this money for. First of all, you have to have a clear plan: what do you exactly want to do? Does this fit in with your strategy? Secondly, realize that investments bring costs, so will the revenues compensate the costs and will, in the end, the profit go up? <br> | ||
But | But what are you going to do? Are you going to renovate the sauna for example: what does this cost? There is only a limited number of hotel rooms upgraded and modernized, as you take over. Make a plan on how you are going to spend the €900,000 in the first year. | ||
== Goal == | == Goal == | ||
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== Task, deliverable == | == Task, deliverable == | ||
Make a clear plan on what you’re going to use the € 900,000 for. You can specify the investment and do the calculations and all in a spreadsheet. | Make a clear plan on what you’re going to use the € 900,000 for. You can specify the investment and do the calculations and all in a spreadsheet.<br> | ||
Do not go too much in details on materials you need: but do make explicit cost groups for specific items or renovations. But no specifications underneath at least 200 euro. Always keep in mind and make clear how the money is being spent. | Do not go too much in details on materials you need: but do make explicit cost groups for specific items or renovations. But no specifications underneath at least 200 euro. Always keep in mind and make clear how the money is being spent.<br> | ||
For example; if you want to renovate the sauna, or use part of the investment for a marketing campaign you should check the internet, or look at similar cases for the actual costs. An educated guess is required, so estimate the costs yourself, based on any comparable prices you have found. Try to be realistic, but as in reality 'how much does it cost' depend on so many things and is not easy to answer. | For example; if you want to renovate the sauna, or use part of the investment for a marketing campaign you should check the internet, or look at similar cases for the actual costs. An educated guess is required, so estimate the costs yourself, based on any comparable prices you have found. Try to be realistic, but as in reality 'how much does it cost' depend on so many things and is not easy to answer. | ||
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* [[Investments]] | * [[Investments]] | ||
* Cost guide, ask your staff. | * Cost guide, ask your staff. | ||
* [[Renovations]] | |||
Latest revision as of 12:27, 7 May 2020
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Situation
As stated, the hotel is getting outdated and does have the liquidity to invest. Looking at the market and the cost structure, a maximum investment of € 900,000 is advised by the accountant of the hotel. Of course, here needs to be an exact plan on what to use this money for. First of all, you have to have a clear plan: what do you exactly want to do? Does this fit in with your strategy? Secondly, realize that investments bring costs, so will the revenues compensate the costs and will, in the end, the profit go up?
But what are you going to do? Are you going to renovate the sauna for example: what does this cost? There is only a limited number of hotel rooms upgraded and modernized, as you take over. Make a plan on how you are going to spend the €900,000 in the first year.
Goal
Have a clear plan and make investment decisions.
Task, deliverable
Make a clear plan on what you’re going to use the € 900,000 for. You can specify the investment and do the calculations and all in a spreadsheet.
Do not go too much in details on materials you need: but do make explicit cost groups for specific items or renovations. But no specifications underneath at least 200 euro. Always keep in mind and make clear how the money is being spent.
For example; if you want to renovate the sauna, or use part of the investment for a marketing campaign you should check the internet, or look at similar cases for the actual costs. An educated guess is required, so estimate the costs yourself, based on any comparable prices you have found. Try to be realistic, but as in reality 'how much does it cost' depend on so many things and is not easy to answer.
Assessed elements
- Is the balance between investments, ideas and renovations okay?
- Are the calculations correct?
- Did the team do research to find benchmarks and put things into perspective?
- Are the arguments for the investment well-funded?
- Are there enough real sources and prices?
Additional information
- Rooms
- Investments
- Cost guide, ask your staff.
- Renovations
