BUSINESS DEVELOPMENT AND ENTREPRENEURSHIP

Business Development and Entrepreneurship



Executive Summary

This paper addresses the business planning needs of a new business sector in Malaysia. The industry that we have chosen is not new altogether but is still in its infancy. THE SUITES Iskandar Malaysia is a brand management concept of THE SUITES Hospitality inc. that was incorporated in the United States. This paper analyzes the business opportunities that are present in Malaysia's tourism and hospitality industry. THE SUITES is destined to capture the market with an exquisite offering of serviced apartments that come with a diverse range of amenities and services. The company aims to provide apart hotel and executive suites to a diverse range of customers across Malaysia from 2012 onwards. Since, the hospitality industry is relatively less developed in Malaysia; our proposed venture will give new opportunities to the entrants in similar industry in the future.

Table of Contents

Executive Summary2

Mission and Objectives4

Company and Industry5

Products and Services6

Market and Competition7

Industry Growth and Development9

Investment Incentives for Market Development in Malaysia10

Business Model to be used12

Management14

Marketing Strategy15

Overall Schedule18

Critical Risks and Problems19

Financial Projection and Requirements21

Exit Strategy23

Conclusion24

References25

Business Development and Entrepreneurship

Mission and Objectives

The mission of THE SUITES Iskandar Malaysia is as follows:

“It is our mission to deliver maximum client satisfaction and an exceptional service at a competitive price range. It is our mission that our apartments offer a “homely” feeling to our valued clients, so they feel comfortable and calm in the serene environment that we provide. Our mission is our course of action, and nothing else.”

The management of THE SUITES Iskandar Malaysia believes that the mission is only achieved if our 'core product' represented by spacious and well-designed apartments, is supported by knowledgeable staff, delivering superior service, within a dedicated and highly professional organization.?

The objectives of the company are focused on delivering supreme customer value and an unparalleled quality of services to a varied range of customers. The objectives are enlisted as follows:

To serve as a benchmark for service apartments and their operators in Malaysia.

Achieve hefty sales in Year 1, followed by astounding increases in Year 2 and Year 3, with corresponding increases in profitability.

To monitor and audit quality compliance standards and the performance of our members on a regular basis.

To develop, encourage, and maintain a range of acceptable service standards for serviced apartments in Malaysia.

To engage in continual and particular client prospecting.

To attract memberships in our apartments and retain valued customers by all means.

To work on various suppliers and standardize services and products available.

To exploit newer markets across the continent after Malaysia, in the travelling professional and leisure sector.

To create an extra ordinary and sophisticated lifestyle appeal in terms of culture, art, fashion, food and wine.

Company and Industry

In recent times, the concept of a serviced apartment has gained immense popularity, owing to the cost-effective accommodation facility that they provide. Serviced apartments offer large living space and hotel-like ambience that meets the needs of corporate travelers and their families. They are cozy, comfortable, and less ...