Resorts today aren’t just places to relax—they’ve become destinations offering unique experiences, whether it’s a peaceful wellness retreat or an adventure-packed getaway. With the global resort industry projected to hit $1.27 billion by 2028, this is then a fantastic time for you if you wish to enter into the business of resorts.
But creating a standout resort takes more than just picking a beautiful location. You’ll need a solid business plan to draw in guests, secure investments, and build long-term success.
So much to do right? No problem, we have got your back.
However, the resort business plan example in this article will help you gain a clearer view of your planning. Let’s begin!
Resort business plan example
Whether you’re starting from scratch or trying to improve upon your current enterprise, a solid business plan will be indispensable in directing your resort endeavor. This real-world business plan sample will inspire your own.
Explore Tranquil Horizons Resort's business plan example to see how you can structure your plan and set the foundation for your resort business.
Executive summary
Tranquil Horizons Resort is a luxury beachfront retreat located at 987 Ocean View Drive, Key West, Florida. Offering a blend of luxury, relaxation, and adventure, the resort features premium accommodations, fine dining, a full-service spa, private beach access, water sports, and wedding services.
Market opportunity
Tranquil Horizons Resort is well-positioned to capitalize on these trends with its comprehensive range of services, commitment to sustainability, and focus on delivering personalized guest experiences.
The resort targets four primary customer segments:
- Romantic getaway seekers
- Families on vacation
- Corporate groups
- International tourists
Competitive advantage
Tranquil Horizons Resort differentiates itself from competitors through several key advantages:
- Right on the beach: The resort is set on a large stretch of secluded, private sands that creates an environment of quiet and exclusivity for guests.
- Amenities: Luxury lodging, fine dining, full-service spa, and a variety of other topics within the resort.
- Dedication to sustainable practices: The resort promises sustainable practices such as renewable energy sources, waste reduction, and community support which speaks volumes for the environmentally aware traveler whose footprint size is always on their minds.
- Customization of guest experience: Special emphasis on one-to-one customized service and services, to make the guest happy so that he gets back.
Financial projections
Tranquil Horizons Resort is projected to achieve steady growth in revenue and profitability over the first three years of operation.
Year 1 projections
- Total revenue: $2,500,000
- Net profit: $800,000
Year 2 projections
- Total revenue: $3,350,000
- Net profit: $1,280,000
Year 3 projections
- Total revenue: $4,200,000
- Net profit: $1,800,000
Funding requirements
The resort seeks an initial funding amount of $2.5 million to cover start-up costs. The funding will be used for:
- Property acquisition: 40%
- Construction and renovation: 30%
- Marketing and pre-opening expenses: 20%
- Initial operating costs: 10%
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Company Overview
Business name: Tranquil Horizons Resort
Location: 987 Ocean View Drive, Key West, Florida, 33040
Legal structure: Limited liability company (LLC)
Mission statement
To provide an unparalleled resort experience that combines luxury, relaxation, and adventure, ensuring every guest leaves with unforgettable memories.
Vision statement
To become the premier resort destination in the Florida Keys, known for exceptional service, a stunning location, and a commitment to sustainability.
Location and facilities
The resort spans several acres of lush, tropical landscape, providing a serene and secluded environment for guests to relax and rejuvenate.
The resort features:
- Luxury accommodations
- Fine dining restaurants
- Full-service spa
- Private beach access
- Water sports and recreational activities
- Wedding and event planning services
Unique value proposition
Tranquil Horizons Resort stands apart from other luxury resorts in Florida by offering a unique blend of high-end luxury, personalized service, and a strong commitment to sustainability.
Luxury and comfort
Guests can indulge in a truly exceptional experience with a wide selection of upscale accommodations and premium amenities designed for ultimate comfort and relaxation.
Personalized guest experiences
What sets the resort apart is its focus on personalized service. From the moment guests arrive, the team tailors every detail to meet their preferences, making sure they feel valued throughout their stay.
Commitment to sustainability
Tranquil Horizons takes its responsibility to the environment seriously, using renewable energy, minimizing waste, and supporting local communities—all while maintaining an eco-friendly approach.
Prime beachfront location
Nestled on a private stretch of beach in the stunning Florida Keys, the resort offers a peaceful and secluded getaway where guests can unwind and immerse themselves in nature’s beauty.
Industry analysis
The global luxury resort market has been steadily growing over the past decade, with an increasing number of affluent travelers seeking exclusive and personalized travel experiences. The market size is projected to continue expanding, driven by the following factors:
- Rising disposable income
- Increased focus on experiential travel
- Growth in wellness tourism
- Demand for privacy and exclusivity
Key industry trends
Several key trends are shaping the luxury resort industry:
Sustainability
The world is changing and everyone wants to support eco-friendly practices when they can so more sustainable travel options will be offered. Tourists usually pick out hotels that appear to be extra sustainable, ones that use renewable electricity, and include low or zero waste disposal all combined with supporting local communities.
Technology
Technology is also used in premium-class resorts widely these days. Technology like VR tours, online booking systems, smart room controls, and AI-powered concierge services add guests to their benefits list while also ensuring effective operations.
Customization and personalization
Consumers in this category expect to receive services that are tailor-made for their unique needs/preferences.
COVID-19
The gorgeous upscale resorts have taken the lead in putting up legit health and safety guidelines following the pandemic, so you know that it is safe to stay.
Growth opportunities
There are several growth opportunities in the luxury resort market that Tranquil Horizons Resort can use:
Expanding wellness offerings
With the growing demand for wellness tourism, there is an opportunity to expand spa services, fitness programs, and wellness retreats to attract health-conscious travelers.
Developing unique experiences
Creating unique experiences, such as guided eco-tours, private dining under the stars, and cultural immersion programs, can enhance the guest experience and differentiate the resort from competitors.
Improved digital presence
Investing in digital marketing strategies, including SEO, social media, and influencer partnerships, can increase brand visibility and attract a global audience.
Strengthening partnerships
Building strategic partnerships with travel agencies, corporate event planners, and luxury brands can expand the resort’s reach and attract diverse customer segments, including corporate groups and international tourists.
Customer analysis
This section analyzes the key customer segments targeted by Tranquil Horizons Resort, their preferences and behaviors, and the strategies to attract and retain them.
Customer segments
Tranquil Horizons Resort targets the following primary customer segments:
- Couples seeking romantic getaways
- Families on vacation
- Corporate groups for retreats and conferences
- International tourists
Customer acquisition and retention strategies
Tranquil Horizons Resort uses a combination of targeted marketing strategies and loyalty programs that they use to both acquire and retain these customers, paints an interesting picture:
Digital marketing
Promotion of a brand or product via one or more forms of electronic media, including an SEO-optimized website, social media campaigns, and influencer collaborations that seek to reach prospective clients by age group and region.
Special packages and promotions
Discount codes, last-minute exclusive offers, or a package deal where you include everything from romantic getaway packages for 2 to family vacation deals as well as options available on specific company retreats.
Loyalty programs
Implement a loyalty program to make customers return and increase customer retention.
Partnerships
Forging partnerships with the travel industry as well, corporate event planners, and luxury brands that can help shed light on the destination resort to a broader audience.
Customer feedback and improvement
Collecting event-related feedback constantly to add betterment in services.
Competitive analysis
Tranquil Horizons Resort faces competition from several well-established resorts in the Florida Keys, each offering unique experiences and amenities. The primary competitors include:
1) Ocean Key Resort & Spa
Location: Key West, Florida
Target market: Primarily couples, honeymooners, and luxury travelers looking for a romantic and upscale experience.
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Strengths
Great location: Located in the heart of Key West, this vacation home provides easy access to popular sites including shopping and entertainment.
Reputation and brand recognition: Well-established brand with a strong reputation for luxury and service excellence.
Awesome spa services: The resorts' spas are top tourist hubs where most of the guests opt for wellness treatments.
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Weaknesses
Lack of privacy: As a result, their central location may lack the romantic seclusion some guests prize for more serene and deluxe getaways.
Space constraints: The resort does not have much more land to expand, limiting the number of additional amenities or units it can add.
Higher price points: As a premium product, the resort's rates are likely to outpace some competitors and potentially preclude more budget-minded travelers.
2) Sunset Key Cottages
Location: Private island off the coast of Key West, Florida
Target market: Luxury travelers, honeymooners, and families seeking privacy and exclusivity.
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Strengths
Privacy and exclusivity: Located on a private island, offering guests a secluded and intimate experience, ideal for those seeking a retreat away from the crowds.
Unique accommodation: Standalone cottages provide a sense of exclusivity and privacy not found in traditional hotel settings.
High guest satisfaction: The resort enjoys high ratings and positive reviews for its service, amenities, and tranquil environment.
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Weaknesses
Accessibility: The resort is only accessible by a private ferry, which could be inconvenient for some guests and may limit spontaneous visits or last-minute bookings.
Higher operational costs: The logistics of operating on a private island can result in higher operational costs, which may affect pricing and profitability.
Limited amenities: Due to its smaller size and exclusive focus, the resort offers fewer on-site amenities compared to larger competitors.
3) Casa Marina Key West
Location: Key West, Florida
Target market: Families, corporate groups, and travelers seeking a blend of luxury and historic charm.
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Strengths
Classic beauty: The unique old architecture and history of the resort give it an allure for those who wish to stay true to a classic style that will NEVER go out of fashion!
Sprawling beachfront: The resort has a vast, secluded area of sandy shoreline that will undoubtedly please everyone looking to lounge on the sand or take part in any number of water sports.
The family, couple, and corporate-friendly: The resort will be front-line for families seeking an authentic desert getaway or a romantic retreat, but would also suit group breaks from the office.
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Weaknesses
Historical property: As an existing resort, it may experience more frequent maintenance and rehabs to retain its place with modern luxury resorts which could limit guest satisfaction.
Less personalized: As a larger resort catering to wide demographics, the personal touch at smaller boutique resorts will be lost.
Competition from newer resorts: Newer resorts with modern amenities and contemporary designs may appeal more to younger, design-conscious travelers.
SWOT analysis of Tranquil Horizons Resort
Marketing plan
The strategy capitalizes on the resort's distinctive selling points, such as its exceptional beachfront position, premium facilities, customized guest services, and dedication to eco-friendliness.
Marketing objectives
- Increase brand awareness
- Drive direct bookings
- Improved guest engagement
- Target niche markets
Marketing strategies and tactics
SEO-optimized website
Develop a visually stunning, user-friendly website that is fully optimized for search engines. The website will feature high-quality images, virtual tours, and detailed information about the resort’s offerings.
Content marketing
Create and regularly update a blog on the resort’s website with engaging content related to travel, wellness, romantic getaways, and family vacations.
Social media marketing
Utilize social media platforms, including Instagram, Facebook, Pinterest, and Twitter, to engage with potential guests and showcase the resort’s amenities, experiences, and stunning location.
Email marketing
Build and maintain an email list of potential and past guests to share personalized content, exclusive offers, and updates about the resort.
Paid digital advertising
Run targeted online ads using Google Ads and social media platforms to reach specific demographics and geographic locations.
Operations plan
The resort's operations are designed to provide a superior guest experience by delivering personalized service, maintaining facilities, and ensuring the safety and comfort of all guests.
Key operational areas
- Front desk and guest services
- Housekeeping and maintenance
- Food and beverage
- Spa and wellness
Daily operations
Front desk and guest services
- Check-in and check-out: The front desk team manages guest arrivals and departures, ensuring a smooth check-in and check-out process.
- Concierge services: The concierge team assists guests with various requests, such as booking excursions, making dinner reservations, arranging transportation, and providing local information.
- Guest relations: The guest services team is responsible for addressing guest inquiries, resolving issues promptly, and ensuring overall guest satisfaction throughout their stay.
Housekeeping and maintenance
- Daily housekeeping
The housekeeping team is responsible for cleaning and maintaining guest rooms and common areas.
- Turn-down service
Housekeeping provides an evening turn-down service for guests, including tidying rooms, refreshing towels, and adding special touches such as chocolates or flowers.
- Maintenance
The maintenance team handles routine repairs, preventive maintenance, and emergency fixes to ensure all facilities, equipment, and guest accommodations are in top condition. This includes HVAC systems, plumbing, electrical systems, and landscaping.
Food and beverage
- Restaurant operations
The food and beverage team manages the daily operations of the resort’s fine dining restaurant, casual cafe, and in-room dining services. This includes meal preparation, service delivery, inventory management, and quality control.
- Menu development and seasonal offerings
The Executive Chef oversees menu development, incorporating local ingredients and seasonal specialties to provide a diverse dining experience. The team also coordinates themed dining events and special promotions.
- Beverage service
The resort’s bar and lounge staff provide beverage services, including craft cocktails, fine wines, and specialty drinks, ensuring a memorable experience for guests.
Spa and wellness
- Spa treatments and services
The spa team offers a range of treatments, such as massages, facials, body wraps, and wellness programs. The Spa and Wellness Director ensures all services are delivered with a high level of expertise and professionalism.
- Wellness programs
The resort provides wellness programs, including yoga classes, meditation sessions, and fitness training, catering to guests seeking relaxation and well-being.
Staffing requirements
- Front desk agents and concierge staff
- Housekeeping and maintenance staff
- Food and beverage staff (Chefs, Servers, Bartenders)
- Spa therapists and wellness Instructors
- Recreation and activities coordinators
- Event planners and coordinators
- Administrative and support staff (Reservations, Accounting, HR)
Supplier and vendor management
The resort maintains relationships with a network of suppliers and vendors to ensure a consistent supply of high-quality goods and services. Key supplier categories include:
- Food and beverage suppliers: Local farms, seafood providers, and specialty food suppliers for fresh and sustainable ingredients.
- Spa and wellness suppliers: Luxury skincare brands and wellness product suppliers for spa treatments and retail sales.
- Maintenance and equipment suppliers: Vendors providing maintenance supplies, cleaning products, and recreational equipment.
- Event and decor suppliers: Florists, lighting companies, and audiovisual providers for weddings and events.
Management team
Tranquil Horizons Resort is established as a Limited Liability Company (LLC). The resort is privately owned by Rowan Callaway.
Key management team
Rowan Callaway (Owner/General Manager)
Oversees overall leadership and strategic vision, with extensive hospitality experience. Manages operations, finances, and long-term planning.
Seraphina Hale (Director of Operations)
Ensures smooth daily operations and high service standards, coordinating between departments and enhancing guest satisfaction.
Declan Hayes (Marketing Director)
Leads marketing efforts, focusing on brand development, digital strategies, and public relations to boost visibility and attract global clientele.
Isla Beaumont (Director of Guest Services)
Manages guest services including concierge and housekeeping, ensuring memorable stays and personalized service.
Everett Pierce (Executive Chef)
Oversees culinary operations, creating innovative menus and maintaining high food quality and presentation standards.
Zara Quinn (Spa and Wellness Director)
Manages the spa and wellness center, offering luxury treatments and ensuring a serene, rejuvenating experience.
Financial Plan for Tranquil Horizons Resort
| Financial Overview | Year 1 | Year 2 | Year 3 |
|---|---|---|---|
| Revenue | |||
| Accommodation Revenue | $1,500,000 | $2,000,000 | $2,500,000 |
| Food and Beverage Revenue | $600,000 | $800,000 | $1,000,000 |
| Spa and Wellness Revenue | $300,000 | $400,000 | $500,000 |
| Other Revenue (Events, Water Sports) | $100,000 | $150,000 | $200,000 |
| Total Revenue | $2,500,000 | $3,350,000 | $4,200,000 |
| Cost of Goods Sold (COGS) | |||
| Food and Beverage Costs | $200,000 | $260,000 | $320,000 |
| Spa and Wellness Costs | $80,000 | $100,000 | $120,000 |
| Other Operating Costs | $220,000 | $310,000 | $360,000 |
| Total COGS | $500,000 | $670,000 | $800,000 |
| Gross Profit | $2,000,000 | $2,680,000 | $3,400,000 |
| Operating Expenses | |||
| Salaries and Wages | $600,000 | $720,000 | $840,000 |
| Marketing and Advertising | $200,000 | $250,000 | $300,000 |
| Utilities and Maintenance | $150,000 | $180,000 | $200,000 |
| Administrative Expenses | $100,000 | $120,000 | $140,000 |
| Insurance and Property Taxes | $100,000 | $110,000 | $120,000 |
| Other Operating Expenses | $50,000 | $70,000 | $80,000 |
| Total Operating Expenses | $1,200,000 | $1,450,000 | $1,680,000 |
| Operating Profit (EBITDA) | $800,000 | $1,230,000 | $1,720,000 |
| Depreciation and Amortization | $100,000 | $110,000 | $120,000 |
| Interest Expenses | $50,000 | $45,000 | $40,000 |
| Taxes | $150,000 | $200,000 | $280,000 |
| Net Profit | $500,000 | $875,000 | $1,280,000 |
| Key Financial Metrics | |||
| Gross Profit Margin | 80% | 80% | 81% |
| Net Profit Margin | 20% | 26% | 30% |
| EBITDA Margin | 32% | 37% | 41% |
| Occupancy Rate | 60% | 70% | 75% |
| Average Daily Rate (ADR) | $300 | $325 | $350 |
| RevPAR (Revenue per Available Room) | $180 | $228 | $263 |
Cash flow statement
This provides the details of cash inflows and outflows from operating, investing, and financing activities over the first three years.
| Cash Flow Statement | Year 1 | Year 2 | Year 3 |
|---|---|---|---|
| Cash Flow from Operating Activities | |||
| Net Profit | $500,000 | $875,000 | $1,280,000 |
| Depreciation and Amortization | $100,000 | $110,000 | $120,000 |
| Changes in Working Capital | |||
| - Accounts Receivable | ($50,000) | ($60,000) | ($70,000) |
| - Inventory | ($30,000) | ($35,000) | ($40,000) |
| - Accounts Payable | $70,000 | $80,000 | $90,000 |
| - Accrued Expenses | $20,000 | $25,000 | $30,000 |
| Net Cash from Operating Activities | $610,000 | $995,000 | $1,410,000 |
Profit and loss (P&L) statement
The P&L statement summarizes the resort's revenues, costs, and expenses during the first three years, providing an overview of the profitability.
| Profit and Loss Statement | Year 1 | Year 2 | Year 3 |
|---|---|---|---|
| Revenue | |||
| Accommodation Revenue | $1,500,000 | $2,000,000 | $2,500,000 |
| Food and Beverage Revenue | $600,000 | $800,000 | $1,000,000 |
| Spa and Wellness Revenue | $300,000 | $400,000 | $500,000 |
| Other Revenue (Events, Water Sports) | $100,000 | $150,000 | $200,000 |
| Total Revenue | $2,500,000 | $3,350,000 | $4,200,000 |
| Cost of Goods Sold (COGS) | |||
| Food and Beverage Costs | ($200,000) | ($260,000) | ($320,000) |
| Spa and Wellness Costs | ($80,000) | ($100,000) | ($120,000) |
| Other Operating Costs | ($220,000) | ($310,000) | ($360,000) |
| Total COGS | ($500,000) | ($670,000) | ($800,000) |
| Gross Profit | $2,000,000 | $2,680,000 | $3,400,000 |
Download the resort business plan template
Planning to launch your resort business? Our resort business plan template PDF is designed to support you.
Created with the resort industry in mind, this template offers clear guidance and practical examples to help you develop a detailed and effective business plan.
Conclusion
We hope this sample business plan assists you in crafting a polished and professional plan for your resort business. If you're still unsure about what to include, consider using a business plan creator.
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Frequently Asked Questions
Why is a business plan important for a resort?
A business plan is essential for a resort as it serves as a roadmap for the business's success. It helps you define your vision, set clear objectives, and outline strategies to attract guests, manage operations, and achieve financial stability. Furthermore, a well-structured business plan helps in securing funding and attracting investors.
What should be included in a resort business plan?
A resort business plan should include the following key sections:
- Executive summary: An overview of your resort concept, vision, and goals.
- Market analysis: An assessment of the target market, competition, and industry trends.
- Marketing and sales strategy: Plans to promote your resort and attract guests.
- Operations plan: Details on daily operations, staffing, and services offered.
- Financial plan: Projections for revenue, expenses, and profitability.
- Risk management: Identification of potential risks and mitigation strategies.
How do you get funding for your resort business?
Securing funding for a resort business typically involves a combination of personal savings, loans, and investments. You can approach banks for business loans, pitch to venture capitalists or angel investors, or explore crowdfunding platforms. A strong business plan that outlines your resort's potential profitability and growth prospects helps convince lenders and investors to support your venture.
What financial documents are essential in a resort business plan?
The financial section of your resort business plan should include:
- Income statement
- Balance sheet
- Cash flow statement
- Break-even analysis
- Budget
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