INSTITUTE OF BUSINESS AND INFORMATION TECHNOLOGY

UNIVERSITY OF THE PUNJAB

2014
 PROJECT SUPERVISOR:

Ma’am Heena Saleem

GROUP MEMBERS:

Fiza Talat F10BA109

Iqra Younus F10BA113

Fizza Khalid F10BA114

Amina Hassan F10BA133

Anum Saeed F10BA136

INSTITUTE OF BUSINESS AND INFORMATION TECHNOLOGY

UNIVERSITY OF THE PUNJAB

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iii
A PROJECT ON SEVEN STAR HOTEL

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 ACKNOWLEDMENT:

We would like to express our gratitude to the Institute of Business & Information
Technology, University Of Punjab for giving us the opportunity and arranging such
a comprehensive final business project.

We would also like to acknowledge our Supervisor Heena Saleem at IBIT who had
been extremely helpful for us.

We would like to offer bundle of thanks to her. She had been a permanent source of
encouragement and guidance. She gave us a comprehensive summarization of the
work we have done in our project. She made us able to perform all the functions of
this project.

Thank you

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 TABLE OF CONTENTS

Executive Summary 01

Project Idea 02

Introduction 03

Problem Statement 05

Aims & Objectives 06

Significance of Research 07

Impact on Training & Education 07

Economic Impact 08
Literature Review 09
Analysis of Data 21
The Survey Chart for our Project 23
Analysis of Data using Charts 25
Business Plan 33
Introduction 34
Our Mission 35
Our Vision 35
Our Objectives 35
Hotel Profile 36
Our Competitors 37
Facilities at our hotel 38
Restaurants & Lounges 39
Breakup of Start up Cost 40

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Industry Analysis 42
SWOT Analysis 43
Govt. Policies 44
Demand & Supply Movement of Market 44
Core Competencies 45
Major Competitors 45

Marketing Strategies 46
The Marketing Process 47
Application of Marketing Strategies 49
Strategic & Market Analysis 49
7 P’s of Marketing 50
Marketing Plan & Implementation 53
Keys to Success 53
Operational Strategies 54
Our Quality Control Measures 55
5 M’s of Management 56
Manufacturing & Organizational Strategies 58
Hotel Organizational Chart 59
Hotel HR Requirements 60
Our HR Process 60
HR & Management Hierarchy 63
Structural Dimensions 63
HR Strategies 64
Different Departments in Hotel 65
Major Suppliers of our Hotel 67
Financial Strategies 73
Income Statement 74
Balance Sheet 78
Ratio Analysis 80
Cash Flows 85
Financial Analysis on Excel 87

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Conclusion 91
Future Study Direction 92
Learning Reflections &Future Forecast 94
Future Expansion 94
Future Activities 94
Future Obstacles 95
Appendices 96
Questionnaire 97
References 99

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EXECUTIVE SUMMARY:

The business idea we are going to contrivance in our final project is developing a 7
star hotel in Lahore. We have nominated our hotel name as “La Dolce Vita”

The basic reason for proposing the hotel business as a project is that the hotel
industry is an emerging enterprise. The hotel industry is advance enough that it let the
people to work in different areas of interest and still be employed within the hotel
industry. This development is increasing not just in Pakistan but worldwide. The
main reason to choose Lahore as a location to build 7 star hotel is because there is no
other 7 star hotel here yet .Another interesting reason is that the Lahore is the city of
sub continental traditional legacy like historic and iconic places. These places will
make the city a heavy duty tourist resort and it is very advantageous for our hotel
business.

It is our primary objective to provide luxurious ambiance and a wealth of top-notch

amenities to our respected guests. The capital investment needed for our project is
2,930,411,260. We have also very carefully looked over the demand and supply
movement of market. Also there are chances of successful international trade in the
coming years across the borders of the country. We also have engrossed our
marketing and HR very intensely. As HR is our most valuable asset.

The calculated income statement of our hotel shows increment in revenues .The
revenues have been expanding due to an increase in the marketing efforts. Looking at
5 years calculated balanced sheet of our company we perceive a snowballing trend in
the current assets have increased. Since the company is making sales and the net
income has increased over the five years so the company has invested in more
marketable securities to secure income from a secondary source. Positive NPV of
Rs. 4,284,565 shows that the company is able to produce more cash inflows as
compare to the present/ current value of cash outflows. Profitability index is 1.001.
All these aspects seem good enough to accept the project.

But still as we are grossing positive profits also we are getting back our investment
seeing the time value of money in 4.9 years and our net income is growing with every
passing year so we will accept this project. And our future plans are to expand our
business by opening its new branches in other big cities like Karachi and Islamabad
after the 3rd year of operations.

 PROJECT IDEA:
For the intention of our project, we have crop up with the idea of establishing
a seven star hotel in Lahore.

The basic reason for choosing this project is that one of the fastest growing
sectors is the hotel industry. The hotel industry is sundry enough for people to

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 work in dissimilar areas of interest and still be employed within the hotel
industry. This trend is increasing not just in Pakistan but globally.

Reason for choosing Lahore is that Lahore is a lively city with big population
and still it is not having a seven star hotel. Furthermore Lahore is the city of
sub continental heritage. ( Badshahi mosque, Shalimar Gardens, Lahore Fort
and the Lahore museum and zoo all dating back to the Mughal era) making the
city a heavy duty tourist resort. Due to its heritage, a big proportion of tourists
are attracted towards Lahore.

Heritage hotels are best if one is looking for sheer elegance, luxury and royal
treatment. They are not just another accommodation options but tourist
attractions in themselves. Exquisitely designed and decorated, meticulously
preserved, high standards of service and ethnic cultural motifs would help the
tourists and other people get the complete experience of Pakistan.

Well established hotel brands clearly illustrate that it’s inadequate for such
industry as hospitality to augment only service quality. It’s crucially significant
to show trustworthy care for your clients and envisage a priority their demands
in order to obtain success.

 INTRODUCTION:
The business idea we are going to implement in our final project is developing
a 7 star hotel in Lahore. We have selected our hotel name as “La Dolce Vita”

 Why hotel?

The basic reason for choosing the hotel business as a project is that the hotel

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 industry is a growing enterprise. Hotel business is an exciting, never boring
business which offers you unlimited opportunities with the passage of time.
The hotel industry is diverse enough that it allows people to work in different
areas of interest and still be employed within the hotel industry. This trend is
increasing not just in Pakistan but globally.

 Why seven star Hotel?

Greater investment will help the country fight extremism and terrorism both
evil stemmed from poverty, illiteracy and the lack of economic opportunities.
This will let other think to invest in Pakistan, its first step towards
modernizing the mind of our people. This landmark project will provide
hundreds of jobs for people in Pakistan. This project will also encourage other
developers to invest in Pakistan by raising their confidence.

 Why Lahore city?

Reason for choosing Lahore for our hotel is that there is no 7 star hotel in
Lahore yet. Another interesting reason is that the Lahore is the city of sub
continental cultural heritage, as Lahore has historical places like Badshahi
mosque, Shalimar Gardens, Lahore Fort and the Lahore museum. These
places will make the city a heavy duty tourist resort and it is very beneficial
for our hotel business. Keeping in mind the demographics of the city, the
weather and amiable environment, the diverse streams of food culture and a
relatively better political and security situation, Lahore will be the best city to
open up the chain of ---hotels.

 Importance:
Seven star hotels are best choice if one is looking for sheer elegance, luxury
and royal treatment. They are exquisitely designed and decorated with high
standards of service and ethnic cultural, which would help the tourists and
foreigners to get the complete experience of Pakistan with elegancy.

 About The Hotel:

La Dolce Vita stands at the intersection of the posh phase 7 and Phase 8
Intersection of the Defense Housing Authority Lahore on 25 acres of land. The
area is supported by lush green gardens, adjacent with local farms with the
Pakistan-India border in close proximity about 30 minutes away. The
architecture and interiors of this fabulous Hotel building would be a mere
reflection of our traditional Pakistani cultural heritage, depicting the skills and
craftsmanship of native artisans. This state-of-the-art building will combine
local traditions elegantly combined complemented by the latest technologies
in order to provide a divine and comfortable stay to our prestigious guests and
valuable life changing facilities for the local population.

Hotel’s true spirit is mirrored by the aesthetics of the public areas, corridors,
rooms, and restaurants highlighting upon the Pakistani heritage as well as the
trademarks of Islamic architecture. The architecture, a remarkable one indeed
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 would be a mixture of rich, elaborated, vivid designs depicting artisan’s
magical efforts and skill especially on the ceilings, floors, and walls.
The Hotel would be built on five levels with its terraces reflecting the lush
green pavilions depicting the natural topography of Lahore’s true plains. The
main entrance of the lobby allows an easy access to Hotel’s resident guests
and patrons using the restaurants and other facilities. The Hotel stresses upon
its valuable guests utmost care and concern being highly particular towards the
security and well-being of Hotel guests. 24-hours security system upgraded
with extremely high-tech capability and a complete and comprehensive Crisis
Management plan has been deployed at the Hotel to
tackle any unforeseen incidents. The city encompasses all the four seasons of
summers, winters and little phases of autumn and spring as well. Observing
the general hotel industry occupancy trends, we observe that the demand of
the hotel would be the greatest in the summer season. Our hotel incorporates
total 300 rooms divided as follows:

Room Type Tariff Quantity of Average Average

per Rooms Occupancy Occupancy Low
Night High Season Season
DIAMOND Lodges 91,759 10 4% 2%
Executive- GOLD 53,400 20 7% 4%
Executive- PLATINUM 48,950 20 9% 5%
Executive – SILVER 40,050 20 19% 9%
Executive-BRONZE 26,700 15 25% 15%
REGULAR 24,475 215 38% 20%
TOTAL - 300

 PROBLEM STATEMENT:
Problem statement refers to a document which consists of all those problems and
issues which we will face throughout our business. Those problems will be
addressed to problem solving team for solution. After that we will find a solution
for all those problems by the consensus of problem solving team. Problem
statement focuses on problems to the business strategy and to the customer. But
our problem statement enunciates to be customer-focused problem statements
instead of business focused problem statement. Because we are niche and by
solving customer focused problems we are actually protecting our niche.

The main purpose to make a problem statement is;

“How can we satisfy and delight our customers, especially the tourist and
foreigners. The possible ways by following which we can fortify an image that
prevents competitors from grabbing market”

Main purpose of establishing this 7 star hotel is that it’s a niche. There is no 7 star
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 hotel in Lahore yet. So our hotel is going to be the best experience for the people
of Lahore.

A good problem statement follows 5w’s which are Who, What, Where, When and
Why. These 5w’s will help to make a good problem statement which will lead to a
proper solution.

 Who: It defines that who does your problem affect the most? For example, is that problem
affecting your business, specific customer or all customers? Who needs the solution of the
problem?

 What: It defines that what is the problem? What is the kind of problem? What is the impact
of problem if it remains unsolved? What will be the impact if the problem will get solved?
How much disturbance that problem is actually creating? What is the outer limit of the
problem?

 When: It defines the time when the problem occurs? What is the reason of occurrence of
problem? When will problem be solved?

 Where: It defines the where the problem occurred? Is the problem occurred in processes or
system or location?

 Why: It defines the reason of occurrence of problem and why it is so important to solve this
problem? Does the problem affecting customers, stakeholders, suppliers or employees?

So with the combination of 5w’s we will make and manage our problem
statement. A problem well stated in the problem statement is half the problem
solved, so we will make a solvable problem statement.

 AIMS AND OBJECTIVES:

Aims and objectives of our hotel are very candid as we seek to ensure that we run
a professional, profitable and ethical business by building firm relationship with
our customers, suppliers, stakeholders and investors. We are committed and
dedicated in providing best of the best to our customers and to delight them. We
will run our business by doing continuous attempts to improve our overall system.
We will take every step by keeping in mind that we will not compromise on our
customer’s satisfaction.
We aim to:

 To achieve credibility by doing responsible business practices.

 To maintain our standard at any cost.
 To develop and build firm and long term relationship with our customers so that they keep
visiting our hotel.
 To reinforce best position in the market as a niche and innovative hotel.
 To provide complete satisfaction to our customers and clients regarding facilities and service
of high standards and providing food, beverage and related products at reasonable price.
 To provide high standards of ethics and taste.

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  We will adopt the best practice and ethical standards in dealing with our clients, suppliers
and vendors of goods and services and other contacts.
 To minimize and manage waste production, ensuring its negative impact on the
environment.
 To efficiently communicate our policies, practices and standards to stakeholders and the
general public, customers.
 To comply the local legislations by abiding all the rules and laws regarding the quality and
standard of food and living.
 To measure and compare our daily performance with our policies, objectives, aims and
targets and quality.
 To ensure a safe, secure and healthy environment according to the condition.

In order to cope up with these aims and objectives we need to understand our
business in depth. We need to understand our goals, aims and objectives and
the scope, limitations and opportunities of the hotel. We will tailor our services
as niche to ensure the best fit for our hotel.

 SIGNIFICANCE OF RESEARCH:

Independent studies and research show that hotels and tourism sector investments
can create a significant economic opportunities in poor countries. Greater
investment will help the country fight extremism and terrorism as both evils
stemmed from poverty, illiteracy and the lack of economic opportunities. This
will let other think to invest in Pakistan, its first step towards modernizing the
mind of our people. This landmark project will provide hundreds of jobs for
people in Pakistan. This project will also encourage other developers to invest in
Pakistan by raising their confidence.

Research has shown that hotel enjoyed high rates of return on invested
capital(“ROIC”), a characteristic often associated with “high quality” companies
– the ratio can indicate whether a company deploys its capital in an efficient and
profitable fashion.

It is evident that the company’s returns would be attributable to the rates it will
charge for services. Those rates are quite high and might seem excessive,
especially relative to local income levels in our country–there might be a vibe that
this will choke off nascent demand. However research indicated that the supply of
formal hotel rooms was shockingly small relative to potential demand and all the
good hotels say Serena, Marriott and PC in Lahore and Islamabad are almost full
when the season is at peak. However the company (and the rest of the industry)
would be happy to exploit this situation.

 Impact on Training and education:

We have come up with an intension to give training (hotel management,

customer service, language, culinary) that helps widen the sector and creates
ultimate skills for workers and upcoming self-employment opportunities for
others. It will improve quality standards for the hotel industry. This is
particularly significant with the more established hotel chains that transfer
skills and knowledge. We will connect with local communities to prop up

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 training and education.

 Economic Impact:

Some of the careers opportunities in the hotel industry are as follows:

 The industry offers more career options than most: No matter what kind of work we
enjoy and wherever our aptitudes lie, there is a segment of the industry that can use our
talents.

 The work is varied: Because hotels and restaurants are complete production, distribution
and service units, and managers are involved in a broad array of activities.
 There are many opportunities to be creative: Hotels and restaurants managers might
design new products to meet their needs of their guests; produce training programs for
employees; or implement challenging advertising, sales promotions and marketing plans.

 Hospitality jobs are not nine-to-five jobs: Hours are highly flexible in many positions.
Many more opportunities are waiting in a queue. With these the role of HR is drastically
change. Its fields of operation in today’s worlds knew no boundary. Each day it is
confronted with new challenges in new division of hotels. Therefore before knowing the role
of HR it is essentials to know different department of the hotels as well their functions.

 Introduction to Hospitality Industry:

As the industry trends are changing peoples’ attitudes towards standardization and class levels
are also changing. Peoples’ basic needs have now transferred towards luxuries. Now people have
become competitive with the growing needs of market and industry. Reflecting rapidly alteration
industry trends, this aggregate consolidates all aspects of foodservice, abode and tourism operations
into an up-to-date, absolute overview of the adaptation industry. To advance an industry-wide
perspective, the argument is disconnected into 5 capital parts. A hotel can’t be called a hotel if these
five capital perspectives don’t fulfilled properly. With the growing demands of customers these
allotments are equally important for the hospitality industry. Allotment 1, perspectives on careers in
adaptation presents a affiliate on demographic trends, one on the appeal for adaptation casework
from assorted customer segments, and one on the accumulation of labour. It means that hospitality

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management should properly take great care of demographic trends. Because the demographic
needs of customers are very important. Customer segmentation is done demographically and
geographically the needs and desires of customers are different from one another. It might be
possible that a local customer needs something which is totally different from a tourists or some
international customer. Allotment 2 takes an all-embracing attending at aliment service, presenting
a altercation of restaurant types, the alignment of this sector, and bloom and ecology and business
concerns. The major concern of allotment 2 is on the presence of restaurants, bars, casinos and their
organisation and division in a certain hotel. How these activities are arranged in a hotel are equally
important and a major issue of concern. Besides this health and hygiene concerns are very
important. For becoming a good hotel and earning a good name in hospitality industry , one must
take great care of food quality, clean atmosphere, quality services under a very healthy and hygienic
environment. Allotment 3 looks at adaptation with alone capacity analytical demand, bazaar
segmentation, alignment of the industry, and business and aggressive advantage. Allotment 3
clearly looks at the market demand and supply, current market conditions, forecasted market
conditions, what are your customers, who would be your customers in future, your targeted
customers and also about your competitors, your core competence and your competitive
advantage. Allotment 4 looks at tourism, presenting alone capacity which appraise its bread-and-
butter and amusing impacts, what are the economical benefits your hotel is getting from tourism,
what you have in your hotel which attracts tourism, including its accent to the US antithesis of
trade, the above categories of destinations and the types of business and activities that drive
centenary destination sector. 

If these allotments are adopted appropriately then efficiency in hospitality management will be
increase. Also application of these allotments will help in getting effective and successful outcomes.

(C.W, Introduction to hosoitality industry, 1999)

Title: Introduction to the hospitality industry.

Author: Powers, T. Barrows, C. W.

Publication: Introduction to the hospitality industry, Book

Date: 1999.

 Operational Issues and Trends in Hotel Industry:

Trends In Accommodation Breadth Accommodation is all about alms amore to anyone who looks
for advice at a aberrant or acrimonious place .People from different areas where they don’t know
anyone or they are not perfectly comfortable with that place usually tends towards the choice of
hotels. As this is the era of business and development so, it is obvious that the trend of travelling is
getting more and more. This trend also gave rise to hospitality industry. It refers to the act of
accepting and absorbing a bedfellow with goodwill. Accommodation in the bartering ambience
refers to the action of hotels, restaurants, catering, inn, resorts or clubs who accomplish a vocation
of alleviative tourists.
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Helped With different efforts by government and all added stakeholders, including auberge owners,
resort managers, bout and biking operators and advisers who plan in the sector, Indian
accommodation industry has acquired a akin of accepting apple over. If we talk about our neighbour
country, India then we come to know that there is a very great trend of hospitality management. It
has yet to go afar for acceptance as a apple baton of hospitality. Many yield Indian accommodation
account not for its superior of account but India getting a bargain destination for leisure tourism. As
it is discussed before, the quality, service as well as customer service of Indian hotels is not so very
good but there is tremendous level of hospitality service and tourism attracts just because of its
economical destination.

With absolute tourism and beginning business prospects, in the advancing years Indian
accommodation is seeing blooming pastures of growth. Availability of able animal assets and
beginning bounded assets accord abundant affairs to the accommodation industry. The amount of
tourists advancing to India is growing year afterwards year. Likewise, centralized tourism is
addition breadth with abundant potentials. 1. Low amount carriers: Travellers in accepted are added
amount acute to airfare than they are to auberge allowance rates. Often a low airfare will activate
appeal for biking even if aubergine prices are increasing. LCCs are a acceptable advantage for
business travellers, as they accept advantages like low costs, added options and connectivity.|

2. Account hotels: Added than 50 per cent of control of a majority of hotels comes from the
business biking segment. The boilerplate allowance amount (ARR) accomplished from business
travellers is commonly college than from leisure travellers. Heightened appeal and the
advantageous control ante accept resulted in an access in the amount of account hotels. 

(2011, 03). Trends in Hotel Industry. StudyMode.com. Retrieved 03, 2011,

This article or commodity makes some predictions about the approaching by because operational
issues in the aboriginal allotment of the next century. This article knocks about some operational
issues of the hotel industry Accommodation operations administration is advised at two levels the
close akin at which cardinal operations administration (strategic operations) takes place; and the
assemblage level (unit levl). It is proposed, application a archetypal developed by Jones (1999,
International Journal of Contemporary Accommodation management), there are seven cardinal
concerns: location, integration, affiliation, configuration, organisation, accomplishing and
adaptation.

Location concerns with the strategic operations of hospitality management, It is a big issue of
concern. It me It means location should be as good as possible to attract the tourism and also should
be in reach of travellers and customers. Usually good locations more easily attract people.
Integration is also one of the concern of strategic operations. It means how to put up things together
for the purpose of management. Affiliate means how to link up things and how make a bridge
between two things that are directly or indirectly linked with each other. Configurations refers to the
way by which things are properly arranged and lined up for a specific purpose. Organization being
an important part of strategic operations concerns with the proper set up that how hospitality
activities and services are organized in a proper manner. Accomplishing means fulfilling tasks
which are planned for doing a particular purpose or activities properly. Adaption is a very important
part of strategic operations in hospitality management. Adaptation means to bring change. It means
to change your organization according to external as well as internal environment. Its basic purpose
is to cope up with change. Unit operations are somewhat called as assemblage operations. For
assemblage operations administration the framework of assay is based on Lockwood and Jones
(1989, The Administration of Hotel Operations). This identifies seven key after effect areas: assets,
employees, accommodation (or customers), productivity, service, assets (or control), and quality.

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 Assets are referred to as machinery, plant etc. but as this is modern world people are changing with
the environment so now a days, in the era of global warming assets are considered as the
organisations’ employees and its information which can’t be shared with anybody in any case or at
any cost. Employees are also a big issue of concern. Giving fair and equivalent rights to employees
and taking care of their rights is very important. Customers are the most important part of all the
strategies in the hospitality management. It is very important for all the hotels to satisfy their
customers, focus on customer delight and their needs by giving them a very special and satisfactory
ambiance as they expect from them. Productivity is also important because as productivity
increases, economies of scale increase. Quality should also be focused because good quality attracts
customers automatically. Application these frameworks an appraisal is fabricated of accepted
issues and trends in accommodation operations management, arch to a prioritisation of accessible
approaching outcomes.
(jones, 1999)

Title: Operational issues and trends

in the hospitality industry
Author: Peter Jones
Publication: International Journal of
Hospitality Management
Publisher: Elsevier
Date: December 1999
Copyright © 1999, Elsevier

 Business Travellers’ Hotel Expectations and Disappointments : A

Different Perspective to Hotel Attribute Importance Investigation:
Hotel aspect accent studies accept a continued attitude in accommodation research. This abstraction
investigates the affair for business travellers by allurement the respondents to accompaniment their
expectations and disappointments / annoyance in an accessible catechism architecture instead of
appraisement the accent of attributes directly.

In a aggressive marketplace, market analysis is the key to success. The abstraction of market
analysis can be implemented best, if there is a complete base of ability about the ambition group.
This abstraction investigates expectations and accomplished disappointments of business travelers
blockage at hotels with altered brilliant appraisement categories. Thus, it is based on two curve of
accomplished tourism research, which will both be briefly advised in the afterward paragraphs:
auberge aspect studies and business adventurer descriptions.A all-inclusive amount of studies was
conducted in the accomplished investigating what the optimal auberge action looks like. The studies
about-face out to be acutely amalgamate in agreement of analysis interest, the ambition articulation
studied, the attributes advised and the analysis design. This advanced array of studies makes it
absurd to draw ambiguous conclusions.

The one a lot of archetypal appropriate aural this band of analysis seems to be, that the attributes are
provided to the respondents as a account of some affectionate and respondents acknowledge to the
appearance by ranking them as added or beneath important. One barring to this aphorism is
provided by Dube and Renaghan (2000) allotment an accessible catechism architecture allurement
for important auberge attributes and ending up with 1275 altered answers. Both approaches accept
advantages and drawbacks. The closed catechism architecture eases statistical testing it restricts the

10
array of answers and appropriately is in danger of blank accessible important added factors. The
accessible catechism architecture allurement for the accent of attributes on the added duke provides
the widest accessible appearance but makes it difficult to differentiate which attributes are amount
requirements and which ones alone add little value to a affable auberge experience. The abstraction
presented in this cardboard takes a hardly different point of view: In adjustment not bind the ambit
of accessible answers, accessible acknowledgment architecture is called and to anticipate
respondents to account beneath accordant attributes (by allurement anon which factors are
perceived as important), the questions accumulate the associations to expectations prior to seeing
the auberge and the disappointments accomplished in the past. The acceptance is, that answers to
these questions would advice to pin down axial issues of a auberge offer.

The analysis abstracts is acclimated to investigate whether the allegation appear in abstract are
mirrored or not, on the one hand, and, on the added duke to apprentice about expectations and
accomplished disappointments in adjustment to accommodate auberge industry with added acumen
for the assignment of customizing their art fact by auspiciously abbreviation aflutter animosity and
affair expectations as bidding by the guests.

The empiric abstraction was conducted in Austria during the winter and summer division of 2001.
Tourists were questioned in their hotels all over the country. The sample was not fatigued in a
representative address but in a antecedent aggressive way ambiance quotas for winter and summer
season as able-bodied as the auberge brilliant categories. The interviews took 15 account in
boilerplate and included accessible questions on the expectations towards the auberge class visited a
lot of generally and disappointments that accept been accomplished in the past. The accessible
catechism architecture was called in adjustment not to access the respondents by providing
accessible fabricated answers. The respondents were not bound in the amount of statements they
chose to make. In addition, abundant accomplishments variables as age, years of academy education
etc. The absolute sample admeasurements amounts to 195. 60 percent were questioned in the winter
season, 40 percent in the summer division of 2001, 17 percent backward in hotels graded one- or
two-star, 35percent in three-star, 33 percent in four-star in assuredly 15 percent in 5 brilliant
accommodation. The boilerplate age of the respondents was 40 years, the sample consisted of 72
percent macho and 28 percent changeable business travelers.

The catechism investigating the expectations of business travelers apropos the auberge was posed in
the afterward way: you accept a lot of acquaintance with hotels aural the .... Brilliant category.
What do you apprehend from ....-star hotels? The catechism had to abode the affair of star grading,
as it represents a above amid capricious in this question. The questions was posed in accessible
catechism format. The respondents were accustomed to accompaniment as abounding factors as
they wanted to.

Cleanliness is mentioned most often by the respondents (16 percent of all factors named were
included in the category “cleanliness”), followed by friendliness, good food, a television set in the
room and service. The location and the price issue rank 7th and 8th. As this as open question, the
answers had to be categorized. The bias from this categorization has to be held as small as possible.
Therefore e.g. the categories “good service” and “service” are listed separately. It could not
automatically be assumed that high quality service was meant by respondents stating “service”.
Three abstracts can be conducted.First, business travelers blockage in one- or two- star-hotels
enunciate abundant added axiological expectations than the actual guests.
They acknowledgment issues that assume to be bright in the added categories, as e.g. a shower,
availability of aliment or a adequate bed. With the guests blockage at three brilliant apartment they
allotment the apprehension to get acceptable food, accept a TV in the allowance and an own toilet.
Aswell the amount issue is mentioned by these guests, admitting business travelers blockage in
college auberge categories do not acknowledgment amount or value-for money actual often. Guests

11
blockage in 5 brilliant hotels on the added duke apprehend acceptable service, a acceptable location,
affable atmosphere, ample rooms, abundance in accepted as able-bodied as the availability of
internet added often.

Thus from the angle of expectations it becomes bright that the accumulation of business travelers is
actual amalgamate and that associates of this articulation not alone accomplish use of altered
auberge categories but aswell accurate differing expectations apropos their accommodation.

The aforementioned cessation can be fatigued for the disappointments declared by the business
travelers. Disappointments apropos altered brilliant categories are actual distinct. The catechism
was airish in the afterward manner.

Survey gives the consistent analytical factors declared aboriginal for the business travelers in
percent of statements. Again, the abridgment of cleanliness is in the lead. Nearly one fifth of all
answers accustomed by the respondents blow the affair of hygiene and cleanliness, followed by
weaknesses in the fields of allowance architecture and setup, cadre and service. Both area and bulk
do not represent above factors of dissatisfaction, as these issues alone bulk to 5 percent of the
statements, 4 percent respectively.

The annoyance catechism actual acerb mirrors the apprehension question. Although there is some
aberration in the accepted abundance administration (E.g. affability and acceptable aliment are
expected abundant added generally than declared in the account of annoyance factors.), the analysis
of differences amid brilliant categories of the hotels mirrors the after-effects accustomed at from the
expectation point of view. Again, the axiological issues are called added generally by business
guests blockage in lower auberge categories, admitting affluence auberge business travelers
accurate their disappointment with affluence as e.g. service, superior in accepted and cadre far
added often.

12
CONCLUSION:

The abstraction investigates the affair of auberge aspect accent for business travellers by allurement
the respondents to accompaniment their expectations and disappointments / annoyance in an
accessible question format. The empiric abstracts consisted of 195 business travellers questioned in
their hotels with quotas imposed on the brilliant category, in adjustment to be able to ascendancy
for this intervening capricious accepted to accept above access on the results.

The aim of the abstraction is twofold:

(1) to apprentice about expectations and accomplished disappointments of this accurate articulation
in adjustment to accommodate auberge industry with added acumen for customizing their artifact
by affair expectations and alienated disappointments as bidding by the guests and

(2) to investigate whether the allegation appear in abstract so far are mirrored or not.

Concerning the axial auberge attributes, the agency cleanliness is in the lead, no bulk whether the
affair of auberge aspect accent is apparent from the expectations or the dissatisfaction perspective.
Friendliness and acceptable aliment still annual for added than 5 percent of the statements on
expectations each. From the annoyance point of view, weaknesses in the fields of allowance
personnel, account and agents accept bulk to added than eight percent of the answers each. Strong
differences amid business travelers blockage in altered auberge categories can be detected both
from the apprehension and the disappointment perspective. The general award apropos these
differences is, that bedfellow in lower categories are added concerned about the axiological auberge
components, admitting affluence business travelers emphasize the abstract aspects more.

The abstracts fatigued in above-mentioned studies on the affair of auberge aspect agency accent for
the segment of the business travelers are not mirrored actual able-bodied in this study. Location and
reputation were not an affair at all, while amount ranked rather low. The acumen for this is the form
of the catechism cartoon the absorption to added aspects than by allurement the archetypal
catechism that is acclimated in auberge aspect studies which anon requires accent ratings.

The award that amount plays a altered role for business travelers blockage in altered auberge
categories is accurate by this study. Good amount for money is accepted far added generally in low
hotel categories. Amount disappointments, on the added hand, are appear added generally in college
hotel categories.

While the access of belief accessible apprehension and dissatisfaction statements does draw the
respondents absorption to added issues and appropriately generates some absorbing allegation for
hotels specializing on business travelers, generalizations of this allegation should be fabricated with
abundant caution only. In adjustment to access generalizability, the analysis would accept to be
conducted in more countries and acutely a beyond sample admeasurement would access the ability
of statistical tests. Another awful absorbing acreage of added analysis would be to investigate
asymmetries in apprehension and disappointment statements as e.g. appear in the case of affability
or good food. Within the framework of this abstraction it nor accessible to accept why they emerge,
only hypotheses can be formulated as e.g. such factors getting abundantly provided by the majority
of hotels or differences in accent weighting depending on abrogating or absolute surprises. Finally,
as the beeline catechism of accent was not included in this survey, direct allegory of the absolute
accent analytic and the access called actuality unfortunately was not possible.

13
(Dolnicar, 2002)

Title: A Different Perspective to Hotel

Attribute Importance Investigation
Author: Sara Dolnicar
Publication: A Different Perspective to
Hotel Attribute Importance Investigation,
Asia Pacific Journal of Tourism Research
Date: July,2002

 IMPROVEMENT OF HOTEL SERVICE QUALITY: AN EMPIRICAL

RESEARCH IN PAKISTAN:

Meeting the difficulties of an unsteady and unsettled environment is not simple. The late effects on
the accommodation administrations economy of evolving engineering, mergers of organizations,
progressively requesting buyers and expanded rivalry have made an environment of unpredictability
and quick change. With a specific end goal to get by in this requesting commercial center,
administration associations have stand out decision, to effectively create and dispatch new
administrations. In any case, the disappointment rate of new administration activities is high, on the
grounds that the learning on how new administrations ought to be created is restricted. Tragically,
not at all like substantial new item advancement hones which have the profit of far reaching
examination into how fruitful new items are produced, the administration part has just as of late
started to investigate approaches to guarantee the achievement of new administrations. Thusly, this
study concentrates on a superior understanding of how effective new lodging administrations are
created and researches the components, which have affect on achievement or disappointment in new
administration improvement (NSD) in the inn area. The consequences of the exploratory study are
outlined in a calculated model for further research.

Introduction:

The lodging business, specifically, and all organizations whose administration rely on upon building
long haul relationship need to focus on keeping up client's devotion. In this admiration, faithfulness
is extraordinarily affected by administration quality. Accordingly, lodgings regularly put resources
into dealing with their associations with clients and keeping up quality to guarantee that clients
whose reliability is in the fleeting will keep on being steadfast in the long haul. Together with
client's dependability, quality is a just as essential component and may prompt the accomplishment
of the tourism business and likewise control tourism firms to effectively experience the aggressive
difficulties without bounds.
Implications.

The fundamental objective of this study has been to attain a superior understanding of how effective
new inn administrations are produced. This will be fulfilled by looking at the real improvement
exercises and a percentage of the going hand in hand with authoritative matters. The fruitful
provision of a relative procedure with an arrangement of multivariate tests, will attain the
segregation of various potential elements that influence the result of another administration.
Consequently the ID of another prescient model will be led which could viably anticipate
achievement and disappointment. The result will give various ramifications to promoting
researchers, for administration included in new administration improvement, and additionally for
inn executives.

14
CUSTOMER LOYALTY AND TOURISM SERVICE QUALITY:

As it may be, emotions and demeanor accomplished by clients through the administration gave by
lodgings structure the impression of administration quality. Taking into account their individual
impression of the administrations, clients by and large structure their encounters Many studies have
examined the relationship between administration quality and client steadfastness on the objections
accepted from clients .Here an objection is seen in the light of the client's appeal for better
administration and conceivable proceeded use of the item within a brief span of time. Also, client
dependability is seen as one of the real facilitators of administration quality that rose up out of the
writing. Client steadfastness happens when there is rehashed buying by the same clients and their
readiness to propose the item to different clients without any altogether profits, and inevitably the
rehashed uses would produce positive and quantifiable monetary results. Among the budgetary
profits of client reliability are enhancements in maintenance and expand in the offer of a company.

Checking client dependability has turned into an imperative center for all directors in the inn
business. Disappointment to perceive the force of client fulfillment, particularly their feelings, could
annihilate the force of client maintenance and faithfulness

Accordingly, the inn administration's most awesome test lies on pulling in clients as well as
particularly on distinguishing client fulfillment separately. Clients may concur that the lodging
gives large amounts of administration quality yet not so much concur that the inn guarantees high
fulfillment. On the off chance that costs are seen to be high, this may even now have a negative
impact on faithfulness. Larger amounts of value are just genuine to the degree that clients accept
that esteem is, no doubt improved. Thusly, supervisors should painstakingly execute value rivalry
and comprehend the quality saw by distinctive business portions. Clients might in some cases avoid
buying when cost is seen to be excessively high, while some got suspicious of value when cost is
excessively low. In rundown, understanding the relationship among administration quality and
reliability will help administrators settle on choice and arrangement their methodologies in the
focused accommodation nature.

Hotel attributes :

Few issues in tourism exploration are in this way, basically important to the business as the
examination of the part lodging properties play in the shoppers' brains. Knowing the properties that
focus settlement decision, the gimmicks that are seen as being paramount in an inn and the inn
qualities that prompt higher client maintenance empowers lodging administrators to settle on ideal
inn advancement choice.

Various creators considered the imperativeness of inn traits without particularly concentrating on
the conduct affected by these significance explanations.

(1993) concentrated on the customary inn visitors.

Not just does the field of "lodging property examination" draw in a considerable measure of
consideration among specialists inside the field of tourism and cordiality, the studies researching the
criticalness of both unmistakable and elusive inn aspects are to a great degree heterogeneous as far
as the essential exploration premium, the business portion contemplated, the characteristics
included in the overview, the survey plan picked and the information dissection procedures
connected. This wide mixed bag of studies with distinctive introduction sadly makes it difficult to
determine general comes about the vitality of lodging qualities for the universe of visitors. The

15
schema recommended for the grouping of observational studies inside this field of examination
offers a three-dimensional matrix that serves to structure the sorts of results gave by distinctive
exploration bunches. The three measurements considered incorporate the essential examination
engage, the danger versus utility methodology and if an exchange off circumstance is made for the
respondent. Adjacent to these criteria it is clearly vital to recognize the sections considered when
thinking about consequences of diverse overviews.

Improvement of Hotel Service Quality in Pakistan

Client fulfillment assumes a vital part in fiscal execution of inn. There are a few components that
have critical part in measuring client relationship with inn: age, sexual orientation, pay and society.
The administrators of inns are key component of chiefs. It is important to investigate the view of
lodging supervisors about inn positioning and they ought to connect it with enhancing
administration quality and execution. Inn administrators ought to concentrate on keeping the
amount of administration disappointment low and watch client grumblings always. System to
advancement administration quality ought to involve issues of client dismemberment,
administration gave, society of inn, correspondence with clients, recruitment and preparing of
administration workers, and their evaluation framework. To get change administration quality, there
is a need to accentuation on unmistakable and elusive possessions.

For lodging administrators, it is not important to simply get room related income, yet income might
be created by enhancing administration related offices like better administration generation, failure
free conveyance, overhauling visitor offices and expanding esteem of inn (Narangajavana and Hu,
2008). Inn workers for the most part see that just two things are vital in administration quality, one
is cleanliness of room and different is kindness of representatives (Shi & Su, 2007), yet different
angles that make a standard of neighborliness and paramount for administration quality change are
climatic impression and improvement of lodging (Shi & Su, 2007) alongside past two perspectives.
Clients interest and desires keep on chaning as per market that is the reason inn directors should
auspicious know those desires and enhance their administration quality likewise [5]
Innovation in Services of Hotel

A QM framework focused around the usage of specialized standards will gain a comparable
importance as the authority lodging evaluation (Josep Maria Bech Serrat, Feb 2010). With the
promote of lodging industry being serious, it is discriminating that inns offer a mixture of asset and
more adaptable structures to help an evolving commercial center (Cheng-Hua Wanga, Kuan-
Yuchenb, Shiu-Chunchena, 2011). The climbing rivalry rising up out of prospering worldwide
markets exasperates the interest for lodgings to advance their administrations and courses of action
for an ensured achievement (Wen-Jung Chen, 2011)

CONCLUSION:

This study inspected the parts of administration quality in lodgings that impact the fulfillment of
clients and their expectation to return to. The results of this exploration close to give quality
administration is the amalgamation of diverse components which are complicatedly interfaced with
one another. The discoveries of this study recommended that effect of administration quality
influences the client fulfillment that brings about accomplishment of lodging and it is a verifiable
reality. Additionally, supporting the client fulfillment level is a progressing process that involves
unremitting change in administration quality at lodgings.

(Afshan Naseem S. E., Jun, 2014)

Title: Improvement of Hotel Service

16
Quality: An empirical research in Pakistan
Author: Afshan Naseem, Sadia Ejaz, Prof.
Khusroo P. Malik GPHR
Publication: International Journal of
Multidisciplinary Sciences and engineering,
Vol.2, No.5
Publisher: Salman Shahid
Date: Jun,2014

 INTRODUCTION:

It was intended to locale diverse stages and points that will be followed in
carrying out the study. It concerned a proposal for the compilation,
measurement, collection and analysis of data. The study was focused at
structuring theoretical frameworks on how hotels in East Africa would compact
with environmental challenges and customers expectations. The basic purpose
was to know about that actually what people want from a seven star hotel.

 DATA COLLECTION:

The study was done with the help of primary data. The primary data was gathered
through questionnaire survey (given in Appendices) to the elite class,
departmental heads of various five star hotels, business men etc and the result
was generated in line with the goal of the study.

This technique helped in extracting some in detail information through

directed questions to the respondents in which a questionnaire by itself was
very helpful. The questions were constructed about the research proposition
that were expected to be answered in this research.

 SAMPLE SIZE:

We have done survey with the sample size of “50” respondents.

 QUESTIONS FROM RESPONDENTS:

The respondents were requested to answer about the questions regarding their
income range, hoteling experience, reason for hoteling, the area and the services
they prefer the most etc.

17
 THE SURVEY CHART FOR OUR PROJECT:

There were 50 form in total and the data collected is now shown in
percentages(%)

Age Tean agere =8 up to 40 years up to 55 years senior citizens

=72 =14 =6

Occupation Business =64 Govt. Servant Private Employ student =4

=20 =12

Resident Lahore (Local) =66 Out of Lahore overseas =20 Foreigner =4

12

Income Range Less than 100K =12 100-300K =44 300K or above in Foreign
=40 Currency =4

Hoteling Oftenly Visit =20 Quarterly =36 Annually =24 Occasionally =

Experience 20

Reason for Hoteling Business/official/ Function Political / Recreation /

Govt. Meetings =64 /Ceremony Religious / social Entertainment /
attending =20 gathering =8 Refreshment =8
Expense rang per Rs. 10K =16 Rs. 25K =72 Rs. 100K =6 In Foreign
Visit Currency =4

Staying at hotel One Day Trip =64 Weekly stay Monthly stay =6 or Long =10
duration =20

Area where you Posh areas (DHA, Peripheries of Congested Area Cantonment
would like to Stay Gulberg, Model town Lahore =4 (Johar Town, area =36
etc. =50 Allama Iqbal
Town etc. =10

18
Services you like Laundry =10 Room Services Restaurant/Bar Pick n Drop
the most: =40 etc =36 =14

While selecting a Economy =24 status =24 stars =16 Pomp n show
hotel you go for =36

Where you find the Internet =34 Newspaper / Friends others =32
hotel for magazines / Recommendation
publications s =16
=18
Does it matters for Security system =72 Parking system Electronic all above =4
a 7 star Hotel =22 facilities =2

In which Time do Seasonal =28 Festivals / Annual/ Family

you like the most Events / Biennial Functions =4
for hoteling ceremonies =14 /Quarterly
meetings =54
What is your luxurious =30 Spacious =10 free of cultural All above =28
concept for a 7 star boundaries =32
hotel

 ANALYSIS OF DATA USING CHARTS:

Age Occupation

teen ager 8 Business 64

up to 40 72 Govt servant 20

up to 55 14 Private 12
Employ

senior 6 student 4
citizens

student

Private Employ
tean ager
up to 40
up to 55
senior citizens
Govt servant
19

Business
 0 10 20 30 40 50 60 70

Resident Income range

Lahore 66 less than 100 K 12

Out of Lahore 12 100-300K 44

Overseas 20 300K n above 40

Foreigner 4 Foreigner 4
Cyrrency

70

60

50

40

30

20
less than 100 K
10 100-300K
300K n above
0
Lahore Out of Lahore Overseas foreigner Foreigner Cyrrency
20
 Expense Range per Visit Staying Duration

10K 16 1 day 64

25K 72 weekly 20

100K 6 Monthly 6

foreign 4 Longer 10
currency

70

60

50

40
10K
25K 30
100K
foreign currency 20

10

0
1 day
weekly
Monthly
Longer 21
 area in Lahore you like Services you like

Posh area 50 Laundry 10

Peripheries of 4 Room service 40

Lhr

Congested 10 Resturant etc 36

Area

Cantt 36 Pick n Drop 14

50
45
40
35
30
25
20 Laundary
15 Room service
10 Resturant etc
5 Pick n Drop
0
Posh area Periphries of lhr Cogested Area Cantt

22
 7 Star matters? taming for Hotling

Security 72 Seasonal 2
8

Parking 22 Festivals 1
4

Electronic 2 Meetings 5
4

all above 4 Family function 4

80
60
70
50
60

50 40

40
30
30
20
20

10 10

0
security Parking Electronic all above 0 23
seasonal festivales Meetings Family function
 Concept of 7 star

luxuries 3
0

spaciaus 1
0

free of culturs 3
2

all above 2
8

Hoteling Experience Reasons fo hoteling

40
35
30
Oftenly Visit 20 25
business 64
20
15
quarterly 36 10 function 20
5
0

Annually 24 Oftenly Visit

quarterly plitical 8
annually
Occionally

Occionally 20 recreation 8

40
35
30
25
20
15
10 business
5 function
plitical
0
recreation
Oftenly Visit
quarterly
annually
Occionally

24
 Selection criterion How to find Hotel

Economy 24 internet 34

Status 24 newspaper 18

Stars 16 friends 16

pomp n show 36 others 32

35
pomp n show
30

25
stars

20

status 15

10

economy 5

0
0 5 10 15 20 25 30 35 40 internet newspaper friends others

25
26
27
28
 OUR MISSION:

“To be the world’s most luxurious hotel with a team dedicated to outstanding personalized
service, surpassing guest expectation by providing the ultimate standards of service and
ethnic cultural motifs of Hospitality Experience”

 OUR VISION:

“To be a world class international hotel and hospitality company, committed to being the
industry leader in all our activities through dedication to our customers and colleagues”

 OUR OBJECTIVES:

Following are our main objectives:

 Customer Service:

Our main objective is to be the largest hotel chains in all over Pakistan by
maintaining the standards of excellence and high-quality customer service.
It is our foremost objective to provide luxurious ambiance and a wealth of
first-class services to our valuable guests.

 Profitability:

In order to maximize profit in the course of sourcing new business, diverse marketing
engagements would be made which contain joint ventures.

 Growth Profile:

The marvellous growth can be accomplished with high-quality services, improvement in

furnishings and facilities, variety of cuisines, and giving an extra ordinary ambiance to
the guests.

 Traditional Hospitality:

It is one of our objectives to give traditional hospitality to our clients, having the true
sense of our cultural values.

 Compatibility:

It is our objective to get our self engaged in to keep tempo with the change through
constant pains and shall continue to accomplish better results through elevated sales and
better profitability.

29
  Training:

Investing in people and Human Resource development will be an ongoing

process in our hotel. Our HR will be considered as our assets. They will be
more important than any other resource. For this purpose we will be doing
continuous efforts for their training and development.

 Environment of Professional Enhancement:

We strongly believe that without the development of top quality personnel, energetic
growth is not possible. Our core value is “development and growth for all” with the
elements of learning environment having colours of latest technologies and trends. Also
stipulation of high-class education and training.

 HOTEL PROFILE:

 Address:

The intersection of the posh phase 7 and Phase 8

Intersection of the Defense Housing Authority Lahore

By considering the demands and life style of people, we have decided to

open our hotel La Dolce Vita at this area. The area is supported by lush
green gardens, adjacent with local farms with the Pakistan-India border in
close proximity about 30 minutes away.
.
 Contact info:

Tel:+92(42)3536-0210,111-406-606
Fax+92(42)3536-1750,3636-4052
Email: ldv@hotelgroup.com

 Our Slogan:

‘Feel the immense luxury’

 Our Logo:

30
  Type of Business:
We are doing business with respect to ownership as Partnership

 OUR COMRETITORS:

Our competitors in Lahore are mostly five star hotels :

 Pearl Continental
 Avari
 Royal Palm Country Club
 Park Plaza
 Hotel Crown
 Hospitality Inn
 Hotel one
 Fletties

 FACILITIES AT OUR HOTEL:

Our hotel will include state of the art facilities being provided for our valuable
guests. They would include the following:

 Health club
 Business Centre
 Swimming pool
 Spa
 Dinning (restaurants & bars)
 Non-smoking floors/rooms
 Currency exchange
 24-hour Room Service
 Safe deposit boxes
 Boutiques

31
  Barber shop
 Concierge service
 Pets are welcome (at no extra charge) except in the restaurants
 Outdoor activities
 Family and children activities
 Fitness counselling
 Steam room
 Separate women and men lounges
 Wi-Fi hot spot
 Sweet Mattress and pillows
 Automatic curtain opener and closer
 Automatic Light sensors
 Central heating and cooling
 Dual telephone lines with voice mail
 Valet Parking
 Same day laundry service
 Complimentary newspaper and magazines

 RESTURANTS AND LOUNGES:

Restaurants and lounges incorporating the following cuisines:

 Continental
 Mexican cuisine
 Thai
 Chinese
 Italian
 Arabian cuisine
 Japanese
 Indian
 Coffe shops
 Café

32
33
 BREAK UP OF START UP COST:
Costing
Sheet Nos. of
Expenditure Heads Vendor Cost/ Units
Cost
Unit
Land in Defence phase 8 Direct purchase from 7,000,00 1,400,0
(kanal) D.H.A 0 200 00,000
Construction cost & Habib Rafiq Group of 701,60
Architecture companies 200 0,000
Kalamkar & Thomas 300,00
Furniture & Fixtures Industries 0,000
Commercial Kitchen and 1,437,25 7,18
Catering Equipment Varioline Kitchens 2 5 6,260
Central Heating and Cooling 15,00
System HMG Enterprises 0,000
Interior Designing and 200,00
Decoration Costing Hughes Design Associates 0,000
3,00
CCTV Cameras Inhouse CYTech 15,000 200 0,000
1,70
CCTV Cameras Outdoor CYTech 17,000 100 0,000
50
Sniffer Dogs 50,000 10 0,000
4,00
Computer Systems (Laptops) Hp Pavilion G6-1105TX 50,000 80 0,000
2,02
Computer Server IBM Power 710 Express 505,000 4 0,000
23,20
LED TV 36" Sony 58,000 400 0,000
MGH Engineering And 1,86
Fire Extinghuishers Control Pvt Ltd 6,200 300 0,000
7,95
Fire/ smoke Alarms Enigma Technology 26500 300 0,000
1,24
Walk Through Gate Self Secure International 155,000 8 0,000
8
Fax Machines Panasonic KX-FT981 10,000 8 0,000
67
Intercome Panasonic 1,500 450 5,000
GenPro Power Systems, 3,00
UPS Inc. 300,000 10 0,000
MAXIM POWER 25,200,0 252,00
Generators SOLUTIONS 00 10 0,000
40
Legal Charges 400,000 0,000
5,00
Misc Expenses 5,000,000 0,000
2,930,411,
Capital Investment 260

 INVESTMENT NEEDED FOR HUMAN RESOURCE:

Monthly Expense Number of people Pay per Total

34
 person Amount
Directors 7 60,000 420,000
Management staff 50 45,000 2,250,000
IT Specialists 15 45,000 675,000
Serving Staff 500 12,000 6,000,000
Janitorial Staff 200 8,000 1,600,000
CSR 10 17,000 170,000
Receptionist 30 14000 420,000
Control Room Monitors 20 10000 200,000
Security Guards 40 11000 440,000
Monthly Salaries 12,175,000
Annual Salaries 146,100,000

35
 SWOT ANALYSIS:
For the purpose of our project, the SWOT analysis is as follows:

Strengths:
 Cultural and Sub-continental Diversity
 Hospitable environment
 Lahore – the city of Mughal Heritage
 Differential Advantage , or first movers advantage in heritage hotel experience
 Cheap and less expensive manpower availability.

Weaknesses:
 Extremely high initial cost of setting up
 Sky-scraping tax configuration in the industry makes the industry not as good as off than
its international equivalent.
 Lack of proper managerial training in the hotel business industry

Opportunities:

 Demand stuck between the local and the international tourists can be
managed without any trouble due to dissimilarity in the time period of holiday. For the
tourists at international level the zenith season for departure is stuck between September
to end of March when the climatic condition and environment are appropriate whereas
the local tourist wait for school holidays, normally the months of summer.
 Unique experience in heritage hotels.

Threats:

 Susceptible to political instability and political turbulence

 Tourist fluctuation
 Competition from existing hotel businesses prevalent in Lahore
 Guest houses
 varying trends in the west side demand parallel change in Pakistan,
which are complicated to execute here
 Poor and unpredictable economic conditions
 Pakistan’s image of being a terrorist hub would highly affect the rate of
tourists visiting the nation.

36
  GOVERNMENT POLICIES:

We are accountable to abundant federal, accompaniment and bounded

government laws and regulations affecting the hotel industry, including usage,
architecture and zoning requirements. An abuse of any of those laws and
regulations or added government adjustment could crave us to accomplish
adventitious expenditures and after effect in operating costs. In addition, our
success in accretion our operations depends aloft our adeptness to access all-
important architecture permits and zoning variances from bounded authorities
with respect to government policies. Compliance with these laws is time
accelerated and may abate our revenues and operating income
.
Our Hotel, like all absolute property, are accountable to authoritative
Regulations advised to assure the environment. However, if we abort to accede
with such laws and regulations, we may become accountable to cogent
liabilities, fines and/or penalties, which could abnormally affect our banking
action and after- effects of operations.

We are as well accountable to laws administering our accord with employees,

including minimum or active allowance requirements, overtime, alive altitude
and plan admittance requirements. An access in the accompaniment or federal
minimum allowance rate, agent account costs or added costs associated with
advisers could access costs and after effect in lower operating margins.

 DEMAND AND SUPPLY MOVEMENT OF MARKET:

It is evident that the company’s returns would be attributable to the rates it will
charge for services. Those rates are quite high and might seem excessive,
especially relative to local income levels in our country–there might be a vibe
that this will choke off nascent demand. However research indicated that the
supply of formal hotel rooms was shockingly small relative to potential demand
and all the good hotels say Serena, Marriott and PC in Lahore and Islamabad are
almost full when the season is at peak. Also there are chances of flourishing
international trade in the coming years across the borders of the country. For this
purpose the potential demand of good hotels will be expected to increase for the
accommodation workers from different countries. However the company (and
the rest of the industry) would be happy to exploit this situation.

 CORE COMPETENCIES:

We “La Dolce Vita” have the first movers advantage in heritage hotel
experience. As there is no other seven star hotel in Lahore yet, we would be
having a large number of local and international visitors.

 MAJOR COMPETITORS:
37
 Our direct and indirect competitors are:

 Pearl Continental Hotel

 Avari Hotel
 Marriott Hotel
 Serena Hotel
 Sheraton Hotel

 THE MARKETING PROCESS:

The marketing process manipulates the marketing strategies of an organization.

There are the four steps in Marketing process of La Dolce Vita, given as follow:

1. Analyzing the Marketing Opportunities:

La Dolce Vita will be having the proactive approach to grasp the potential
opportunities of Market. This is the part in which the supervision and
management of hotel requests a proactive approach instead of reactive approach.
This analysis is very crucial for providing an improved and excelled quality and
services to their customers in the ever-increasing competition.

2. Selecting the Target Markets:

La Dolce Vita aims to target the business and corporate consumers of multinational
organizations like Nestle, Packages, P&G, Uniliever, Kohinoor Group, PIA etc.

3. Developing the Marketing Mix:

La Dolce Vita aims to build up a very conventional marketing mix strategy The need for using
the term marketing mix arise because Promotion and Price are two key factors where they are
using conventional plans to survive with ever-increasing competition of service and quality.

4. Managing the Marketing Efforts:

La Dolce Vita would be having a very strong competitive marketing environment. As we are
adopting very effective policies and rules in order to achieve a dignity and identity in the hotel
industry. In each organization the marketing environment is of two types:

38
a) Micro Environment
b) Macro Environment

a) Micro Environment:

Micro environment refers to the inside forces which may influence the organization by its direct
and indirect notion, means the capability of organization to serve up its customers. The most
influencing forces to our hotel La Dolce Vita are discussed here as follows:

 Marketing Intermediaries:

The large part of the business of La Dolce Vita would depend on the different type of
marketing intermediaries. The major business of this hotel depends on the marketing
service agencies. The marketing service agencies will assist the hotel to transmit the
messages of target customers. The advertising agencies and media firms will facilitate the
hotel to pass on messages about promotional strategies to the end users and target
customers.

 Customers:

Like every organization, La Dolce Vita also intends to study its customers very deeply.
La Dolce Vita will be focusing on two types of customer market groups locally General
Customers Market i.e. Individual and households that avail services and the other is
Business Customer Market i.e. The business representatives that gain services for
additional processing. And internationally, these customer market groups are Tourists
and Business Customer Market.

Other categories of users and customers of our hotel domestic and foreign are given as
follows:

 Sportsmen
 Business Officials
 Political bodies
 Educationists
 Trade representatives officials
 Students

 Competitors:

Our hotel is willing to give more comfort and more facilities to our customers than our
competitors. Also we going to maintain our dignity by providing better quality and
services than our competitors.

b) Macro Environment:

Macro environment refers to the outside forces which may influence the organization by its
direct and indirect notion. The most influencing forces to our hotel La Dolce Vita are discussed
here as follows:

 Demographic Environment:

39
 La Dolce Vita will be having a strong demographic environment. We are intending to
provide different services according to demographic characteristics. Hotel offers unique
packages according to different demographic factors.

 Economic Environment:

The management of La Dolce Vita is intending to pull off a well-built economic

environment in the hotel. The hotel is intending to make available services according to
the dissimilar income level of the people in order that all the people can benefit the
services for this hotel.

 Technological Environment:

This environmental force is focussing on building up new technologies, new services,

and market opportunity. With the assistance of this force our hotel will be responsive of
modernization and innovation concerned through technological improvement adoption
particularly for the intention of service quality.

 APPLICATION OF MARKETING STRATEGIES:

Here are some marketing campaigns that will make our Hotel to reach its
targeted market.

 Strategies:

We will aware our target market through different marketing tools like, flyers,
newspaper ads and last but not the least through word of mouth.
The main link which we will use to connect to our target market is by making
our hotel website on which we will provide:
 Hotel name
 Contact Information
 Online Directions
 About Us
 Services Offered by Us
 Location

 STRATEGIC AND MARKET ANALYSIS:

 Economic Condition Overview:

This is the analysis of economic situation of our society along with taking a
look on our Hotel industry, our customer's profile, and competitors. Our
economic condition is not so good these days.

 Market Analysis:

This industry is more saturated in Pakistan so its scope is good.

40
 Customer Profile:

7 star’s average client will be upper class man or woman living in the
Company’s target market

 7P's OF MARKETING:
 Products and Services:

 Health club
 Business Centre
 Swimming pool
 Spa
 Dinning (restaurants & bars)
 Non-smoking floors/rooms
 Currency exchange
 24-hour Room Service
 Safe deposit boxes
 Boutiques
 Barber shop
 Concierge service
 Pets are welcome (at no extra charge) except in the restaurants
 Outdoor activities
 Family and children activities
 Fitness counselling
 Steam room
 Separate women and men lounges
 Wi-Fi hot spot
 Sweet Mattress and pillows
 Automatic curtain opener and closer
 Automatic Light sensors
 Central heating and cooling
 Dual telephone lines with voice mail
 Valet Parking
 Same day laundry service
 Complimentary newspaper and magazines

 Place:

Our hotel will be in DHA. The location is best to open Hotel because it will be
surrounded by our target market i.e. upper class and these target market.

41
 Second reason is that there is no direct competitor in that area. The distribution
channel consists upon only one entity because we are producing services and
also delivering this to our customer by own.

 Promotion:

To make our target market aware of our services we will be communicating to

them through different marketing tools:

 Flyers – It is an inexpensive way to communicate to our target market. We will Paste these
flyers in most rushy areas like shopping malls markets, restaurants and community centers.
For this we have to take permission from upper management (e.g. manager, CEO or
Directors).

 Brochures – On second we will be distributing brochures of our prehotel. These brochures

can be distributed in offices, schools, personal offices of business, Govt. agencies, colleges
and universities.

 Business Cards – Business cards are excellent thing to make target market remember you.
This card have following things printed on it: Our Hotel name, address, telephone, email,
hours of working.

We can pass these cards from customers to other interested customers Ask
customers, friends and relatives to pass them out to interested people at work.
Business or public organizations are good sources. Give flyers and cards to
these organizations so that they make referrals to you so that you will get
easily a prospective clients.

 Networking – Networking is the main way to communicate you to your target market
Perhaps one of the best ways to market your center is through networking. Since most
customers decide things about their hotel from word-of-mouth, talk to people personally.

 Classified ads –We will place different ads in newspapers because there are many people
who read classified ads and business and commercial sections.

 Electronic media- We will place different ads in tv channels because there are many
people who watch classified ads and business and commercial sections.

 Price:

While introducing a new product in the market the price should the price
should be set according to purchasing power of the target market, economy
situation, our cost, competitor’s price and your company’s goals and
objectives. We used competitive pricing strategy (in which we set price same
as our biggest competitor sets). It will effect psychologically on our target
market’s mind as a quality product and we would have an competitive
advantage that we are offering more than our competitor in the same price it
will grasp the attention of our targeted customers towards us.

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  People:
To address best to our customer’s all the things should be working on their
accurate place;
 To communicate with target audience we have developed a proper marketing department
and appointed individuals on marketing activities.
 To address customers, address their complaints and to give a solution to their problem
there is a customer contact person.
 An individual for procurement.
 Individual for training and skills enhancement of staff.
 Individual for Remuneration.
 Processes:

Our hotel goal is to achieve customer’s delightedness and satisfaction in order

to achieve this, our processes must be customer centric. In order to achieve
efficiency these processes are also IT supported and research and development
margin is also be the part of our processes to coap up with the changes in
environment and make adjustments to have continuous organizational
development.

 Physical evidence:
We will interact with our customers in both environment using Brick and
Click model having existence in both physical and virtual environment.
 While interacting in physical environment we have our office in Dhaas service scape.
 And to interact with virtual environment we interact or communicate with our
customers through our website.

 MARKETING PLAN AND IMPLEMENTATION:

La Dolce Vita’s marketing plan is prearranged to attain the strategic goals, we

have set for ourselves, in terms of building strategies to growing by and large
revenue as a consequence of differentiate our products and services from
competitors. Our marketing team ensure that the plan is implemented to the top
of its capability and with the highest intensity of efficiency, effectiveness and
accuracy.

 KEYS TO SUCCESS:

Following are the keys to success for achieving our strategic goals:

 Carry on developing ongoing relations with regular and new guests.

 Carry on developing and execute well-built communication plan in both nationally and
internationally.

43
  Influence our strength in the local market as the component of the community by
supporting local events.
 Continue ongoing staff training and skill maturity to certify the maximum standard of
service.

 OUR QUALITY CONTROL MEASURS:

Quality assurance system is a very important component of any business

strategy. Quality is currently seen as a significant force for gaining
competitive advantage, notably with the patron. A hotel’s interaction with
customers will last from many hours to many days so the most important
thing is quality assurance and management while concentrating upon
satisfaction of the client.

Quality assurance concerning client’s satisfaction is classified into

psychological perceptions of the client and to judge how a client gives
feedback to your services and quality. So within the hotel business this
objective is to do and engender a high level of client satisfaction so as to
completely influence our customers' repurchasing and communicative
behaviour but, to realize this aim the business must perceive what drives
client satisfaction and therefore the solely issue that drives client satisfaction
is quality.

44
 Further identifies that, among a service setting like a building, shopper
satisfaction doesn't merely depend upon the standard of service satisfaction
received from business workers, though this can be a vital component. The
physical setting, as an example the décor, bedrooms and alternative facilities
offered, also are parts of the consumer’s perceived worth and satisfaction. If
any of those are deemed as sub-standard, notably once associated with the
worth paid, this can cut back the customer’s enjoyment and levels of
satisfaction. All of these varied “quality assurance” systems and standards are
accessible and can be used among the business surroundings. Client feedback
is one such source for getting to know about the quality so as a whole
consumer feedback may be achieved by 2 ways. The primary approach is to
supply questionnaires among the visitors and ask them to fill it up before
leaving the hotel. The second technique is to rely on outwardly conducted
questionnaires, interviews and polls, which might be conducted on never-
ending basis.

There are few aspects which can be used as a tool to judge quality, they are:

 Tangibles:
Tangible means physical facilities, instrumentation and look of personnel.

 Reliability:
Reliability means ability to perform the secure service reliably and accurately.

 Responsiveness:
Responsiveness means disposition to assist customers and supply prompt
service.

 Assurance:
Assurance includes ability, courtesy, believability and security data and
courtesy of workers and their ability to inspire trust and confidence.

 Empathy:Communication
Empathy includes access, communication, understanding the customer. Caring and
personalized attention that the firm provides to its customers.

 5 M’S OF MANAGEMENT:
- Man
- Material
- Machine
- Money
- Methods

 Man:

Man in management is referred as a personality's resource. Even within the

automatic world no organization will flourish with the absence of human
resource. Human resources confirm the workings with the help of four basic

45
 business resources. So, human resource at La Dolce Vita ensures about these
four resources which are materials, machines, cash and strategies. They ensure
that if all these four things are utilized in a very productive manner to attain
goals or aims and objectives of organizations and enterprises. We have got
labor that's needed to perform major tasks which can be supply of product.
We believe that if our labor is not happy then we will be troubled, so caring
about the rights of labor is very important.

 Materials:

Without materials, human resource is formed redundant so each right thinking

and right coming up with organization is aware of that materials required for
any business or service must be in perfect in order to get effective side of
business management. So we believe that poor material quality directs toward
the doom for loss. Quality compromised is business pauperized. Poor quality
of materials probably ruins entrepreneurship. This is often associate proven
fact.

 Machine:

The metal contraptions referred to as machines have created man fulfil

virtually effortlessly varied dreams of making things that create existence a lot
of worthy. Machines have replaced man in cultivation, planting, and harvest
home. Man has been replaced with looms in cotton and material process.
Recently, computers joined within the fray of skyrocketing production and
reduction in time spent by man for producing and general production of
products and services. However, while not man and materials, machines are
useless. They have to be operated by man and fed with materials. So
whenever it comes to selection of machines we use the best option.

 Money:

Without cash, no venture or enterprise will encourage staff, get quality and
spare materials, get the proper machines and maintain them or perhaps make
sure that time is correctly managed. Cash management, once not properly
organized has been the foremost notable issue concerned in collapse of
enterprises in history. So managing the money in proper way is very
necessary for us. The number and quality of cash spent in ventures will show
up the fruitfulness of over time. Wherever there's not enough cash, no smart
staff, materials, or machines are used or purchased or no heritable. In different
words, such a venture is wasting its time existing within the initial place.

 Method:

Everything incorporates right way and plan to do and this right approach is
thought as a perfect way for managing your business. In brief it suggests the
art of doing a group of procedures and tasks according to the directions. So
46
 the visible strategies of a corporation embrace plans, policies, procedures and
knowledge so we also follow strategies and plans in order to achieve our
goals.

 HOTEL ORGANIZATION CHART:

47
 General
Manager

Director Food and

Chief Resident Human
Sales and Controller Beverages
Engineer Manager Resources
Marketing Director

Front Executive
Office House Catering Executive Resturant Beverage
Manager Keeper Director Chief Manager Manager

Reservatio House
n Manager Sous Chef
Keeping
Manager

Front Desk
Manager Steward
Laundry
Manager

Guest Banquet
Services Chef

PBX Administrative
Manager Assistant

 HOTEL HUMAN RESOURSE REQUIREMENTS:

Staff Placement Number of people

Directors 7
Management staff 50
IT Specialists 15
Serving Staff 500
Janitorial Staff 200
CSR 10
Receptionist 30
Control Room Monitors 20
Security Guards 40
Total 872

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 OUR HR PROCESS:

 Hiring:

The Human Resource Team, hire Hotel managers, waiters, Hotel house
keepers, desk clerks & other staff after gathering information about the
applicants' education, experience and background (as stated in resumes and
by references). After a preliminary screening, the committee will conduct
informal telephone and face-to-face interviews formal interviews of qualified
candidates. The screening method will consist Current recruitment efforts
include the running of advertisements in national magazines and periodic
announcements for positions. We will recruit the staff which have
extraordinary skills and have polite behaviour.

 Staff Screening:

All staff must be of responsible personality and suitable to meet the needs of
Customers. The staff members will be required to sign documentation that
they have not been ever placed on the central registry for substantiated abuse
or neglect. Employees will also be asked to sign an authorization to investigate
past employment history of them from previous employers regarding work
experience and qualifications.

 Health of Personnel:

 All employees must have a current physical signed by the physician. All physicals must
be updated annually.
 All employees must have a current TB test stating that the employee is of tuberculosis. It
must be updated annually.
 The sick employees will be encouraged to stay at home and will be replaced with a
skilled substitute.

 Senior Staff Manager:

Each Senior Staff Member will plan & execute a structured curriculum.

 Qualification:

In addition to training and certification in Hotel Management, Senior Staff

Members will have at least two years’ experience. They must have an
associate's degree or equivalent experience within the field of Hotel
management.

 Job Description:

The Senior Staff Management are responsible for:

 Reading and reviewing the Curriculum Guide and the Staff handbook.

49
  Establishing learning objectives that are consistent with the Center's philosophy.
 Taking daily attendance.
 Working cooperatively with the Director, as needed, in developing and
implementing new plans.
 Attending all staff meetings and in-service workshops.
 Planning at least one classroom event per month with staff
 Reviewing customer's records monthly and updating as needed.
 Being attentive to health, sanitation, nutrition and safety at all times.
 Dressing and conducting of teachers and the workers in a professional manner.
 Planning at least one field-trip event per month.

 Typist:

 Qualification:

They must have One Year experience in school work. Have Bachelor’s
Degree, at least one year as a server. They must be at least 25 years old. They
must possess friendly and outgoing personality and have good personal
hygiene.

 Job Description:

They will be responsible for oversight of the server. They will work under the
` general manager. He is responsible for book keeping record, managing daily
cash and over viewing inventory financial activity.

 Cook

 Qualification:

The cook must have minimum 3 years’ experience: two years must be as cook
not as assistance. They must have minimum high school diploma. The cook
will submit resume and fill out an application. They will be interviewed and
hired by the HR Team.

 Job Description:

The cook is responsible for cooking hygienic food in the IKIPS. He will be
also responsible for preparing food items in proper hygienic and delicious
way. Another responsibility is to see that kitchen must be kept in a clean,
sanitary and working order.

 Guard

50
  Qualification:

For this post qualification doesn’t matter a lot but he must be at least middle
pass and must possess good behaviour.

 Job Description:

He must be active and fit enough to remain alert during the hotel timings. He
will be responsible for safeguarding the hotel and for gate keeping.

 HR & MANAGEMENT HIERARCHY:

Top management

Marketing Manager HR Manager Operational Manager Financial Manager

Workers
Hotel managers Desk Clerks (Peon, Guard, Cook,
Shopkeeper etc.)

 Structural Dimensions:
 Work Specialization:

We will concentrate on work specialization as the individual which is spent

significant time in the showing field will do a great job, which will benefit
our organization. The managers and workers having polite and kind conduct
will be preferred for our hotel. Workers will have the capacity to focus more
and be more proficient and compelling on their own assignments.

 Formalization:

In the start, our hotel is following the manual method of communication and
processes but in the future we will Insha’Allah transform our ways of
communication and processes more through the help of technology and
different software’s.

 Span of Control:

Our span of control is narrow as all the staff have to report to the senior
manager and all the managers also will report directly to the CEO, hence our
hotel is centralized.

51
  Communication:
We will use formal communication as our communication approach.
 Vertical Communication:

- Downward communication will be used by senior manger to provide directions and to

control the subordinates through some rules and disciplines.
- Upward communication will be used by subordinates like working staff etc.to
communicate with the managers.

 Horizontal Communication:
Horizontal communication will be used by managers to communicate to the
other managers which have the same level with them like marketing manager,
financial manager, Human Resource manager etc.

 HR STRATEGIES:
 Motivation:

We will use Douglas McGregor’s theory which is Theory X and Theory Y. In

our hotel we will use Theory Y. We believe that if we will follow this theory
then we will be able to create employee engagement. We will share ownership
of tasks with them as managers will have the right to share their ideas of
implementing new and innovative methods to delight our customers . We
believe that they will find work more rewarding if they were given any
responsibility and a variety of tasks to do. We will also motivate them through
providing appreciation.

 Controlling:

We implement Controlling process method. The steps are establishing

standards, measuring the performance of the institution, comparing the
performance against standard and determining need for corrective actions to
be taken.

 Performance Management:

To maximize our institute performance, we will need to Align, Develop,

Recognize and Reward outstanding performance
.
 Compensation Management:

We will train them to adopt our institution culture and business goals. We will
clearly identify the disciplines & ethics. We will provide them with bonuses,
award of appreciation which will help us in retaining them in our hotel

 DIFFERENT DEPARTMENTS IN HOTEL:

52
 The classification of these departments is done on the basis of its function. They
are as follows:
 Core Functioning Department:

 Food and Beverage (F&D) Department:

F & B deal primarily with food and drink service related activities.
Altered division would be there in F & B like Restaurants, Specialty
Restaurants, Coffee Shop (24 hrs.), Bar, Banquets, Room service etc. Apart
from that we will have Utility services (Cleaning).

 Front Office Department:

The front office is the command post for processing reservations, registering
guests, settling guest accounts (cashiering), and checking out guests. Front
desk agents will also handle the distribution of guestroom keys and mail,
messages or other information for guests. The most visible part of the front
office area is of course the front desk.

 Housekeeping Department:

The housekeeping department is another important department in hospitality

world. Housekeeping would be responsible for cleaning the hotel’s
guestrooms and public areas. This department would have the largest staff,
consisting of an assistant housekeeper, room inspectors, room attendants, a
house person crew, linen room attendants and personnel in charge of
employee uniforms. We will also have laundry and valet service.

 Food Production Department:

Food production deals with the preparations of food items. It will basically
engaged in preparing food, ordered by the guest and afterwards is catered by
the F&B department. Cuisine like Pakistani, Continental, Thai, Italian,
Chinese, Mexican, etc. Different Chefs will be appointed for the specialty cuisine.

 Support Department (Cost Centres)

 Marketing & Selling Department:

Sales and marketing is one of the most vital functions of the hotel business and
an integral part of modern hotel management. It includes packaging for selling,
sales promotion, advertising and public relations. The marketing division is
charged with the responsibility of keeping the rooms in the hotel occupied at
the right price and with the right mix of guests.

53
  Engineering and Maintenance Department:

The energy crisis throughout the world and especially in Pakistan has given a
great importance to the engineering department of a hotel. This department
provides on the day-to-day basis the utility services, electricity, hot water,
steams; air-conditioning and other services and is responsible for repair and
maintenance of the equipment, furniture and fixtures in the hotel. The
engineering department has an important role in satisfying the guest- demand
and helping to maintain the profit level of the hotel. The cleaning, up-keep,
repair, replacement,   installation and maintenance of property and its
furnishing, machinery and equipment are the joint responsibilities of
Engineering/Maintenance and the Housekeeping Department.

 Finance, Accounting and Control Department:

A hotel’s accounting department is responsible for keeping track of the

many business transactions that occur in the hotel. The accounting department
would do more than simply keep the books-financial management is perhaps a
more appropriate description of what the accounting department does.
Whereas the control department is concern with cost control guidelines by
way of reducing in investment, reduction in operating cost, control of food
service costs, control of beverage costs, labour cost control, etc.

 Safety and Security Department:

The security of guests, employees, personal property and the hotel itself in a
country like Pakistan is an extreme alarm for today’s hoteliers. In the past,
most security safety measures concentrated on the prevention of theft.
On the other hand, today such brutal crimes as terrorist attack have become
a trouble for some hotels. Unfortunately, crime rates in most major’s cities are
rising. Hence today security department also concentrate on these additional
criminal activities too.

 Administration Department:

Top managerial members typically oversee and supervise the Administration

Department in a hotel. This department is accountable for all the work related
with management, administration, personnel, manpower, employee’s
wellbeing, medical, health and security.

 Human resource Department:

There shall be plenty of employees concerned in different jobs in diverse

fields.There is a dreadful need to look over them and organize them, so an HR
department is crucially required.

 MAJOR SUPPLIERS/VENDORS OF OUR HOTEL:

54
A major part of any business is dependent on its vendors, through which they are
able to deliver quality and good services and products to their customers.
Following are the major vendors of our hotel:

 Construction:
HabibRafiq (Pvt.) Limited is one of the largest construction company in
Pakistan. It has presence in various countries worldwide. For the purpose of
our project we have decided to get in contract with HabibRafiq (Pvt.)
Limited as it has, national and international significance relating its excellent
work for the preceding 50 years.

 Furniture:
Since 1991 Kalamkaar has been continuously manufacturing the best quality
furniture. Established in Pakistan Kalamkaar has always been and continues
to be dedicated to training and mentoring native craftspeople in support of a
vibrant and self-sustaining local economy.  Kalamkaar has showrooms in
Dubai, Karachi, Lahore, Los Angeles, New Jersey and the United Kingdom.
Kalamkaar’s furniture designs are influenced by the beauty of South Asian
art and culture and the simplicity of form prevalent in Western design.  Each
piece is a hand-crafted masterpiece that exudes a unique sense of style and
sophistication.

Contract Furniture:
o Hospitality – Restaurant / Hotel / Club
o Executive Suite
o Reception / Lobby
o Lounge / Sitting Rooms

 Central Heating:
Since 1999 HMG has been focusing on achieving its goals of providing very
reliable and proficient gas appliances and energy in Pakistan. For our project

55
 we have decided to get in contract with HMG for the purpose of central
heating as it will provide us excellent quality services. Actually the main
purpose of central heating here has come up with the objective of no alteration
in humidity level within the rooms and no flames within the rooms.

 Interior Designing:

Hughes Design Associates is one of the leading firms of interior designers in

the United States. The firm specialize in designing, restoring and refurbishing
prestigious custom interiors for: Distinctive Residential Properties, Residential
Developments, Luxury Condominiums, Hotels, Resorts, Clubs, Restaurants
and Healthcare Facilities.

 CCTV Cameras:

Since 1998 Cytech Technology Ltd. is amongst the leading, emergent and
competent distributors of electronic workings in Hong Kong and China today.
Cytech technology will provide us with IRBD – N365E waterproof all in one
camera.

 Computer system:
HP Touch smart: 9100 Business PC
 Server:
IBM power 710 Express

 Fire extinguishers:

MVH: Fire Extinguishers Maintenance and Supply of Fire Equipment and

related services.

 Smoke Alarms:
We will take the services of smoke Alarms through Enigma Technology.
 Walk through gate:
56
 Self Secure international will give us the facility of walk through gates
 Fax Machine/Intercom:
Panasonic will give us the facility of fax machine/ intercom.
 UPS:
GenPro Power Systems, Inc will give us UPS facility according to our
demand.

 Generators:

MAXIM Power Solutions Recognizing the need for a professionally

managed Service Company in the rapidly growing Generator Sales and
service Market of Pakistan, three qualified engineers with a combined
engineering experience of over half a century, established Maxim Power
solutions in June 2008.

 Bathrooms:
Varioline bathroom designs are incredibly beautiful that will perfect for our
hotel. These designs are inspired by spa centre where there is a place to relax
and enjoy massage and bath
Types of bathrooms:
o Space Efficient Bathrooms with rooms.
o Bathroom in lobby’s and Halls.

 Kitchen:
From Varioline Kitchens (Pvt.) Ltd. we will take the facility of all the
kitchen related stuff. Reason for choosing Varioline kitchen is that it caters
its clients in a step-wise way satisfying them and providing quality services
with a name of trust. Thus Varioline Kitchens is the place where modern

57
 luxury living gets an edge.

 Details of kitchen:
No. of kitchens: 5
o Joinery work: No. of cabinets in each: 50
o Laminations
o Solid Wood
o Solid Surface

Appliance & Fittings:

o Oven (Double)
o Fitted Microwave Oven
o Fitted in Steam Oven
o Twofold Fuel assortment Cooler
o Built Under Fridge
o Built Under Freezer
o Wine Cooler
o Dishwasher
o Coffee Machine
o Water Disposal Unit

Electronic Work:
o Under Cabinet lightening
o New Cooker Feed
o Kitchen Plinth Lighting

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 o Ceiling Lighting

General Work:
o Wall Tiling
o Floor Tiling
o Windows/Doors
o Rubbish

Certification:
o Gas Safe Certification
o Electricity safe certification

INCOME STATEMENT FOR 5 YEARS

INCOME 1st Year 2nd Year 3rdYear 4th Year 5th Year

1,562,203 2,603,672, 3,124,407,3 3,384,774,5 3,645,141,8

Rooms ,650 750 00 75 50

296,818,6 494,697,8 593,637,38 643,107,16 692,576,95

Food 94 23 7 9 2

59
 84,358,99 140,598,3 168,717,99 182,777,82 196,837,66
Beverages 7 29 4 7 0

74,985,77 124,976,2 149,971,55 162,469,18 174,966,80

Other Food and Beverages 5 92 0 0 9

13,018,36
Telecommunications 7,811,018 4 15,622,037 16,923,873 18,225,709

70,299,16 117,165,2 140,598,32 152,314,85 164,031,38

Rentals and Other Income 4 74 9 6 3

31,244,07 52,073,45
Cancellation Fee 3 5 62,488,146 67,695,492 72,902,837

Gift Shops 3,124,407 5,207,346 6,248,815 6,769,549 7,290,284

22,653,97 23,316,89
Interest Income 2 5 23,653,055 24,316,094 24,738,608

2,153,499 3,574,726, 4,285,344,6 4,641,148,6 4,996,712,0

Total Revenue ,751 526 12 14 92

EXPENSE ITEMS

Production Expense

781,101,8 1,301,836, 1,562,203,6 1,692,387,2 1,822,570,9

Cost of Sales 25 375 50 88 25

78,110,18 130,183,6 156,220,36 169,238,72 182,257,09

Operating Supplies 3 38 5 9 3

China, Glassware, 156,220,3 260,367,2 312,440,73 338,477,45 364,514,18

Silverware and Linen 65 75 0 8 5

60
China, Glassware,
Silverware and Linen 3,124,407 5,207,346 6,248,815 6,769,549 7,290,284

Interior Design and 30,000,00

Decoration Expense 0 - - - -

1,048,556 1,697,594, 2,037,113,5 2,206,873,0 2,376,632,4

Total ,780 633 60 23 86

Indirect Expenses

Fixed Expenses

56,239,33 93,732,21 112,478,66 121,851,88 131,225,10

Property Taxes 1 9 3 5 7

18,746,44 31,244,07
Insurance Expense 4 3 37,492,888 40,617,295 43,741,702

74,985,77 124,976,2 149,971,55 162,469,18 174,966,80

Total 5 92 0 0 9

Operating Expenses

146,100,0 146,173,0 146,246,13 146,319,26 146,392,42

Payroll Expenses 00 50 7 0 0

112,478,6 187,464,4 224,957,32 243,703,76 262,450,21

Marketing Expense 63 38 6 9 3

General and 140,598,3 234,330,5 281,196,65 304,629,71 328,062,76

Administrative Expense 29 48 7 2 7

61
Property Operations and 78,110,18 130,183,6 156,220,36 169,238,72 182,257,09
Maintenance 3 38 5 9 3

68,736,96 114,561,6 137,473,92 148,930,08 160,386,24

Energy Costs 1 01 1 1 1

546,024,1 812,713,2 946,094,40 1,012,821,5 1,079,548,7

Total 34 74 5 51 33

1,669,566 2,635,284, 3,133,179,5 3,382,163,7 3,631,148,0

Total Expenses ,689 199 15 54 28

Profit before
Depreciation and 483,933,0 939,442,3 1,152,165,0 1,258,984,8 1,365,564,0
Amortization 61 27 96 60 64

234,742,2 234,742,2 234,742,25 234,742,25 234,742,25

Depreciation Expenses 52 52 2 2 2

Amortization (License
Fee) 137,000 137,000 137,000 137,000 137,000

249,053,8 704,563,0 917,285,84 1,024,105,6 1,130,684,8

EBIT 09 75 4 08 12

298,901,9 298,901,9 298,901,94 298,901,94 298,901,94

Interest Expense 49 49 9 9 9

(49,848,1 405,661,1 618,383,89 725,203,66 831,782,86

EBT 39) 26 6 0 3

Corporate Tax Rate (30% (14,954,4 121,698,3 185,515,16 217,561,09 249,534,85

of EBT) 42) 38 9 8 9

62
 (34,893,6 283,962,7 432,868,72 507,642,56 582,248,00
NET INCOME 97) 89 7 2 4

BALANCE SHEET FOR 5 YEARS

Year 1 Year 2 Year 3 Year 4 Year 5

ASSETS

183,252,73 198,523,79
Cash 91,626,368 152,710,614 7 8 213,794,860
Marketable
securities 78,625,756 92,895,996 94,235,277 96,876,869 98,560,193

608,559,95 750,591,33
Inventories 90,254,869 545,733,955 7 1 968,186,420

A/R 19,532,675 32,554,458 39,065,350 42,320,795 45,576,241

925,113,32 1,088,312,
Current Assets 280,039,668 823,895,023 1 794 1,326,117,714

Fixed Assets

1,400,000,0 1,400,000,0 1,400,000,

Land 1,400,000,000 00 00 000 1,400,000,000

Other Assets 500,000 500,000 500,000 500,000 500,000

Machiney and Other 1,524,511,2 1,524,511,2 1,524,511,

Equipment 1,524,511,260 60 60 260 1,524,511,260

704,226,75 938,969,00
Acc. Dep 234,742,252 469,484,504 6 8 1,173,711,260

1,055,026,7 820,284,50 585,542,25

Net fixed Assets 1,289,769,008 56 4 2 350,800,000

3,279,421,7 3,145,897,8 3,074,355,

Total Assets 2,970,308,676 79 25 046 3,077,417,714

63
LIABILITIES

Accounts payable 31,962,559 53,270,931 71,027,909 76,946,901 82,865,893

Notes payable 5,728,057 9,546,762 11,456,114 12,410,790 13,365,467

Salaries payable 12,174,951 12,181,039 12,187,129 12,193,223 12,199,320

Interest Expense
Payable 24,908,396 24,908,396 24,908,396 24,908,396 24,908,396

119,579,54 126,459,31
Current Liabilities 74,773,963 99,907,128 8 0 133,339,075

Long Term
Liabilities

1,758,246,7 1,172,164,5 586,082,25

Loan Payable 1,758,246,756 56 04 2 -

1,858,153,8 1,291,744,0 712,541,56

Total Liabilities 1,833,020,719 84 52 2 133,339,075

OWNER'S
EQUITY

681,989,26 1,189,648,
Retained Earnings (34,876,547) 249,103,391 8 980 1,771,914,134

1,172,164,5 1,172,164,5 1,172,164,

Sharholders Equity 1,172,164,504 04 04 504 1,172,164,504

1,421,267,8 1,854,153,7 2,361,813,

Total Equity 1,137,287,957 95 72 484 2,944,078,638

3,279,421,7 3,145,897,8 3,074,355,

TL & O.E 2,970,308,676 79 24 046 3,077,417,714

64
 RATIO ANALYSIS FOR 5 YEARS

 PROFITABILITY RATIOS:
 Return on Assets (ROA):
Return on assets has been increasing over the period of five years. This increase has been
0.25 accompanied by the increase in net income but it is
misleading for the profitability of the company
0.2 because of two reasons. Firstly, the total assets have
been decreasing which reduces the significance of
0.15 these ratios. Secondly, interest is excluded from the
net income but total assets include debt as well as
0.1
equity.

0.05

0 1 2 3 4 5

-0.05
 Return on Equity (ROE):

0.25
Return on equity shows how much profit has
0.2
been earned by the company with respect to the
0.15 amount invested by the owners. In our case it has
been increasing which is a good sign for the
0.1
company’s profitability.
0.05

0 1 2 3 4 5

-0.05

 Profit Margin Ratio:

65
0.25
Net income to total sales shows how efficiently

0.2 the cost incurred to make sales has been

managed. The ratio has been increasing which

0.15 is a good sign for the company’s future

prospects.

0.1

0.05

0
1 2 3 4 5
-0.05
 Earnings per Share (EPS):

6
Net income to average number of shares
5 shows how much earnings are available for
shareholders and as it has been increasing
4
while keeping the number of shares constant
3 shows the simple increase in the net income.

2
1
0 1 2 3 4 5

-1

 ASSET MANAGEMENT RATIOS:

66
Inventory Turnover Ratio :

A ratio showing how many times a company's

Inventory Turnover inventory is sold and replaced over a period. 
1 2 3 4 5
0.23

0.07
0.06 0.06
0.05

Year 1 Year 2 Year 3 Year 4 Year 5

 Return on Invested Capital (ROIC):
According to The Harvard business review a
study done by Michael Porter says that during
1992-2006 the average ROIC of the Hotel
ROIC Industry was around 10.4%.
Initially our ROIC was less than the industry
average because the business was new but as
27% we started generating revenues and started
24%
21% investing back into the business the %ages
16% for ROIC for the next years are quite healthy
for the investors.

6%

Year 1
Year 2
Year 3
Year 4
Year 5

67
  Return on Total Asset Ratio:
A ratio that measures a company's earnings before
interest and taxes (EBIT) against its total net assets.
Return on The ratio is considered an indicator of how
Total Assets Ratio effectively a company is using its assets to generate
earnings before contractual obligations must be
1.62 paid. 
1.50 This ratio have an increasing trend each year so, it
1.35 means that our hotel will be effectively using its
1.08 assets to generate earnings.

0.72

Year 1 Year 2 Year 3 Year 4 Year 5

 DEBT MANAGEMENT RATIOS:

 Total Debt Ratio:

Total debt Ratio

0.6200000
00000005 Our hotel management had initially take
0.57 debt to start off the business so the ratio
came out to be 62% but as we went along
and over the years we have been paying
0.41 back the debt and after 5 years of operations
our debt was only 0.04 for every I dollar
invested which again is healthy for the bank
0.23 that it is getting off the debt.

Year 1 0.04
Year 2
Year 3
Year 4
Year 5

68
 Debt/Equity Ratio:

Debt/Equity Ratio A debt to equity ratio greater than 1 in

161% the 1st two years does show that most
of the assets are financed by debt and
131% finally from the third year ratio is less
than one means equity provides a
majority of the financing.A higher
70% ratio signifies that company is risky
but in our case we have overcome this
problem by 3rd year.
30%

Year 1 5%
Year 2
Year 3
Year 4
Year 5

69
 CASH FLOWS

OCF

1st Year 2nd Year 3rd Year 4th Year 5th Year

EBIT 249,053,80 704,563,075 917,285,844 1,024,105,608 1,130,684,812

9

+ 234,742,25 234,742,252 234,742,252 234,742,252 234,742,252

Depreciatio 2
n

-Taxes (14,954,44 (121,698,338 (185,515,16 (217,561,098) (249,534,859)

2) ) 9)

OCF 468,841,61 817,606,989 966,512,92 1,041,286,762 1,115,892,205

9 7

70
 Project Cash flow

0th Year 1st Year 2nd Year 3rd Year 4th Year 5th Year

Operating 468,841,6 817,606,9 966,512,92 1,041,286,76 1,115,892,2

Cash Flows 19 89 7 2 05

Capital -
Spending 2,930,411,
260

NWC -2,052,657

Total - 468,841,6 817,606,9 966,512, 1,041,286,76 1,115,892,2

2,932,463, 19 89 927 2 05
917

Assumption: We are assuming that project will require -2,052,657 in NWC investment and it
will remain the same also business will not end after five years rather it will continue to operate.

 FINANCIAL ANALYSIS ON EXCEL:

71
72
73
74
75
 FUTURE STUDY DIRECTIONS:

 Income Statement Analysis:

The Income statement channels a company's financial concert over a particular accounting
period. The forecasted income statement of our hotel shows increasing trend in revenues .The
revenues have been increasing due to an increase in the marketing efforts. More rooms are
occupied and entertainment services are being consumed. There is an increase in the frequency
of the services being rented like people renting the halls for marital and corporate meetings
purposes. More shops are being rented over the time. Income from the other sources is from the
marketable securities that have also added to the total revenue.

Looking at the expenses the major direct expense item is the cost of goods sold
and other supplies because over the time more rooms and other hotel services are
being occupied therefore the need for supplies and inventories has considerably
increased over the course of five years. Interior Design and Decoration Expense
has been recorded on the first year only because in the next 4 years no addition to
the décor has been made. The indirect expense consists of the property tax that has
to be paid on the annual basis and the insurance expenses that also has to be paid
on the annual basis. Marketing, general administrative maintenance and energy
costs have increased over the five years .The depreciation expense have been
calculated for five years. The interest expense on the long term loan that the
company has acquired has also been included in the total expenses therefore there
is an increasing trend in the total expenses. The expenses after 30 % taxes are more
than the revenue in the first year therefore the net income is also a negative figure
indicating a negative retained earnings in the balance sheet where as the net
income is positive in the next years and has an increasing trend indicating that the
hotel is making sales

 Balance Sheet Analysis:

Looking at 5 years forecasted balanced sheet of our company we observe an

increasing trend in the current assets have increased. The cash balance, most
liquid asset has an increasing trend in five years. Since the company is making
sales and the net income has increased over the five years therefore the company
has invested in more marketable securities to secure income from a secondary
source. The inventory and the accounts receivables figure has also increased in
five years therefore increasing the currents assets total. Looking at the fixed
assets the fixed assets the value of land remains the same over the five years since
the company has not purchased more land during five years. The value of

76
 machines and other Equipments is also the same during the five years since the
hotel has not expanded its capacity therefore the value has not changed however
the accumulated depreciation has been calculated by the straight line method
dividing the cost of the machine and equipment by five years. Since the
depreciation expense is the same for five years but the accumulated depreciation is
increasing by the same amount each year. So the value of the net fixed assets is decreasing in five
years. So looking at the overall picture of the total assets, the value is increasing due to an increase
in the current assets and in the currents assets section the inventory has a considerable rise.
The total short term liabilities have increased because there is a considerable increase in the amount
of the accounts payable .The company is purchasing more inventory so payments to the suppliers as
increased on the other hand the loan the company took for initiating its operations has decreased
showing the capability of company to pay off the debt through significant earnings. So looking at
the overall value of the total liabilities has decreased during the five years since the hotel has
managed to pay off its long term debt.
There is an increase in the total equity figure due to the increase in the retained earnings. The
retained earnings has increased because of the increase in the net income .The share holder equity
has remained the same since the hotel did not issue shares to the public. So the value of the total
liabilities and the owner’s equity has increased over the five years in accordance with the total
assets.

 NPV:

468,841,619/(1.134) + 817,606,989/(1.134) ^2 + 966,512,927/(1.134) ^3 +

1,041,286,762/(1.134) ^4 + 1,115,892,205/(1.134)^5 – 2,932,463,917
NPV= 4,284,565

Positive NPV of Rs. 4,284,565 shows that the company is able to generate more
cash inflows as compare to the present/ current value of cash outflows.

 IRR:

13.45

 PAYBACK PERIOD:

3.65 years

 DISCOUNTED PAYBACK:

4.99 Years
4.100
 PROFITABILITY INDEX:

Profitability index = 1 + NPV

. Initial Investment

77
 Profitability index = 1.001

 Learning Reflections &Future Forecast:

We expect that the business will aggressively expand during the first three
years of operation. We will intend to implement marketing campaigns that will
effectively target individuals with children within the target market.

 Future Expansion:
As the social environment, community around us and our business are in a
state of continual change, hence it’s important that we plan to ensure our
future sustainability. We know that new information and technologies will
emerge, and that a range of possible environmental, political and social
changes may occur. To survive in this complex environment we need to be
flexible and look outside our traditional roles.

La Dolce Vita is great and unique hotel and has a very bright future, together
as a community looking ahead in meeting new challenges and goals. We
believe our strategic direction offers the best pathway to safeguard and
progress our community’s future.

In planning for the next 2 to 3 years we have identified five key directions
that will guide future activities and decisions:

 Service quality and continuity

 Sustainable resource management
 Business health
 Community leadership
 Speed of Responsiveness

 Future Activities:

We believe that by the third year of business we will be able to add some
other branches of our hote in big cities like Karachi, Islamabad. We plan to
increase the target market of our hotel in the future.
 Future Obstacles:

We will have to explore the ideas of hiring new employees rather than have free
labour from volunteers. We will have to purchase more land and equipment in
order to accomplish our future plans. The Govt. policies and social changes may
cause hurdles in our way to fulfill our goals.

 CONCLUSION:
This project is favourable if we look at the value of NPV which is positive

78
4,284,565, payback period which is 3.65 years and discounted payback period
which is 4.99 years. All these factors seems good enough to accept the project but
the only area of concern is profitability index although it is above 1 but .0.1
percent of return on initial investment which turns out to be 2,930,411,260. But
still as we are earning positive profits also we are getting back our investment
considering the time value of money in 4.9 years and our net income is increasing
with every passing year so we will accept this project.

79
 QUESTIONNARE:

Name: ------------------------- Contact No. ----------------------

Age: ----------------------------- Gender: -----------------------------

For the purpose of our project, we have moved towards with the idea of establishing a
7 star hotel in the vicinity of Lahore city. Keeping in mind the demographics of the city, the
weather and amiable environment, the diverse streams of food culture and a relatively better
political and security situation, Lahore could be the best city to open up the chain of hotels.
For beginning our project, we are requiring a general public opinion regarding this
project. For this we need your corporation and shall be appreciatively thankful to you for
giving us your opinions and suggestions.
Here are a some of the optional questions; you are requested to tick the best option that suits
you…

80
1 Occupation:
(a) Business
(b) Govt. Servant
(c) Private Employ
(d) student

2 Resident:
(a) Lahore (Local)
(b) Out of Lahore
(c) overseas
(d) Foreigner

3 Income Range:
(a) Less than 100K
(b) 100-300K
(c) 300K or above
(d) In Foreign Currency

4 Hoteling Experience:
(a) Oftenly Visit
(b) Quarterly
(c) Annually
(d) Occasionally

5 Reason for Hoteling:

(a) Business/official/Govt. Meetings.
(b) Function /Ceremony attending
(c) Political / Religious / social gathering
(d) Recreation / Entertainment /Refreshment

6 Expense rang per Visit:

(a) Rs. 10K
(b) Rs. 25K
(c) Rs. 100K
(d) In Foreign Currency

7 Staying at hotel duration:

(a) One Day Trip
(b) weekly stay
(c) Monthly stay
(d) or Long

8 Area you like to Stay:

(a) Posh areas (DHA, Gulberg, Model town etc)
(b) Peripheries of Lahore
(c) Congested Area (Johar Town, Allama Iqbal Town etc.)
(d) Cantonment area

9 Services you like the most:

81
(a) Laundry
(b) Room Services
(c) Restaurant/Bar etc.
(d) Pick n Drop

10 While selecting a hotel you go for?

(a) Economy
(b) status
(c) stars
(d) Pomp n show

11 Where you find the hotel for?

(a) Internet
(b) Newspaper / magazines / publications
(c) Friend Recommendations \
(d) others

12 Does it matters for a 7 star Hotel?

(a) Security system
(b) Parking system
(c) Electronic facilities
(d) all above.

13 In which Time do you like the most for hoteling?

(a) Seasonal
(b) Festivals / Events / ceremonies
(c) Annual/Biennial /Quarterly meetings
(d) Family Functions

 REFERENCES:

 http://www.sbp.org.pk/ecodata/kibor/2013/Apr/index.asp
 http://paktribune.com/business/news/Pakistan-hotel-industry-struggles-as-terrorism-keeps-
visitors-away-7509.html
 http://www.eurojournals.com/ejsr_48_1_09.pdf

 http://www.seafarerfunds.com/commentary/on-the-importance-of-sustained-capital-
investment-part-1/

82