PROJECT MANAGEMENT REPORT



Project Management Report



Project Management Report



Introduction

Initiating a brand new business is a complex and confusing phenomenon even for the professional entrepreneurs. Working within a complex environment along with numerous financial requirements, as well as, other obstacles that should be solved to be able to operate in formal, challenging environment, especially those who do not possess any prior experience in the same field. Additionally, in many small countries, fresh business is the key success of economical development (Entrepreneur Magazine Group, 1996). Hotels play a significant role in most of the small countries. Additionally, in the contemporary environment of hotel business, it includes luxurious facilities in unique and intimate settings along with customised services. This on the other hand, is a potential way of building social capital. As a result, a hotel business in the main are of every city benefits shareholders, as well as, the community.

Boutique Hotel is a new trend getting famous day by day in USA and UK. It includes hotels which contain all luxurious facilities in unique and intimate settings with customised service lodgings. These hotels are also known as the 'Life Style Hotels' or Design Hotels'. This trend was introduced during 1980, in the main cities such as, San Francisco, New York, and London. Usually Boutique hotels are furnished in inspirational manner based on some specific theme or following a traditional style. The main focus of these hotels are on individuality and customised services, providing comforting and welcoming setting, thus the hotels are most unlikely to be in a typical homogeneous environment of other large hotels (Goldman, 1993, 12).

Working within a complex environment along with numerous financial requirements, as well as, other obstacles that should be solved to be able to operate in formal, challenging environment, especially those who do not possess any prior experience in the same field. Additionally, in many small countries, fresh business is the key success of economical development (Entrepreneur Magazine Group, 1996). In the contemporary time, the concept of these types of hotels has been introduced in other countries, such as, Singapore, Malaysia, Thailand, Italy, Spain and France. These hotels have emerged in resort locations, for example, Hua-Hin and Phuket. Many other cities of the far eastern countries are famous for their boutique hotels, such as, Taiwan, Hong Kong, Malaysia, Bangkok and Singapore. Boutiques hotels are sprouting tremendously in other countries, such as, Indonesia, China, Turkey, Peru, Mainland, and Iceland. This owes the fact that; this trend is emerging all over the world beyond the typical capitals of the world and is moving toward the inside of new market (Entrepreneur Magazine Group, 1996). However, since last few years, this industry has adopted the 'no-frill-chic' trend for consumers. Now, the boutique hotels are sprouting and flourishing in the whole world in affordable budget.

Discussion

Report to Client on Estimates of Initial Costs, Feasibility Study and Risks and Uncertainties Involved

Feasibility Study

While starting a business, the entrepreneur should estimate that whether the business is worth spending time and ...