Biniam Main Hotel Project

CONTENTS
I. EXCUTIVE SUMMARY.......................................................................3
1. INTRODUCTION...............................................................................5
1.1. HOTEL AND TOURISM SECTOR IN ETHIOPIA.............................................6
1.3. THE PROJECT........................................................................................................7
1.3.2. PROJECT OBJECTIVE.......................................................................................8
1.3.3 MISSION AND GOAL.................................................................................................9
1.3.4. SPECIFIC OBJECTIVE........................................................................................9
1.3.5. PROJECT SCOPE.....................................................................................................10
2.3.6. PROJECT LOCATION.......................................................................................10
1.3.7. SIGNIFICANCE OF THE PROJECT..............................................................10
1.4. PRODUCT DESCRIPTION AND CAPACITY.....................................11
2. MARKET STUDY AN PLANT PROSPECT.................................................................11
2.1. GENERAL OVERVIEW.........................................................................................11
2.2. MARKETING STRATEGY....................................................................................12
3. TECHNICAL STUDY.......................................................................14
3.1. DESIGN AND PARTICULARS.............................................................................14
3.2. PHYSICAL APPEARANCE....................................................................................14
3.3. CORE FACILITIES.................................................................................................15
4.5. PLANT CAPACITY AND PRODUCTION PROGRAM.....................................20
4.6. PROMOTION............................................................................................................20
4. MATERIALS AND INPUTS...............................................................21
4.1. UTILITIES.................................................................................................................21
4.2. ELECTRICITY..........................................................................................................21
4.3. WATER......................................................................................................................21
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5. TECHNOLOGY AND ENGINEERING.................................................22
5.1. TECHNOLOGY........................................................................................................22
5.2. ENGINEERING............................................................................................................22
5.2.2.. CONSTRUCTION COSTS................................................................................23
5.2.3. MACHINERY AND EQUIPMENT COSTS............................................................23
6. MANPOWER AND TRAINING REQUIREMENT...................................24
6.1. MANPOWER REQUIREMENT............................................................................24
6.2. TRAINING REQUIREMENT......................................................................................25
7. FINANCIAL ANALYSIS.....................................................................25
7.1. TECHNICAL ASPECT ANALYSIS OF CASH INFLOWS..............................25
7.2. TECHNICAL ASPECT ANALYSIS OF CASH OUT FLOWS.........................26
7.4. PRODUCTION COST AND EXPENSES...........................................................27
7. 5.FINANCIAL EVALUATION...................................................................................27
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I. EXCUTIVE SUMMARY
The purpose and scope of this proposal study is to introduce the subject matter
and provide a general idea and information on the said area. All the material
included in this document is based on data gathered from various sources and is
based on certain assumptions. Although, due care and diligence has been taken to
compile this document, the contained information may vary due to any change in
any of the concerned factors, and the actual results may differ substantially from
the presented information.
Total land requirement for the envisaged plant is 2,300 square meters. Total
built-up of the project is 1500 square meters. Total cost of building at the rate of
Birr 3550 per square meter is estimated to be Birr 5,324,800
The total investment requirement is estimated at about Birr 10,400,000, and the
firm will create employment opportunities for 7 persons.
The project is financially viable with an internal rate of return (IRR) of 23% and a
net present value (NPV) of Birr 15 million discounted at 8.5%.The project has a
forward linkage effect with food industries.
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The project is expected to be financed 25% (birr 2,600,000 mil. by owners equity
of the total investment cost and the remaining 75 (birr 7,800,000 mil.) will be
covered from the bank loan to be repaid within five years of operation in 12
months repayment. The loan is expected to be released on January 1, 2023 with
one year grace period.
Based on the projected profit and loss statement, the project will generate a profit
beginning from first year of operation. Annual net profit after tax will grow from
birr 40 million to Birr 62 million during the life of the project. Moreover, at the
end of the project life the accumulated cash flow amounts to Birr 4 bil.
In financial analysis the financial ratios and efficiency ratios are used as an index
or yardstick for evaluating the financial position of a firm. It is also an indicator
for the strength and weakness of the firm or a project. Using the year-end balance
sheet figures and other relevant data, the most important ratios such as return on
sales which is computed by dividing net income by revenue, return on assets
(operating income divided by assets), return on equity (net profit divided by equity)
and return on total investment (net profit plus interest divided by total investment)
has been carried out over the period of the project life and all the results are found
to be satisfactory.
The break-even analysis establishes a relationship between operation costs and
revenues. It indicates the level at which costs and revenue are in equilibrium. To
this end, the break-even point of the project including cost of finance when it
starts to operate at full capacity (year 10) is estimated by using income statement
projection. Therefore it accounts to be 12%.
The payback period, also called pay – off period is defined as the period required
recovering the original investment outlay through the accumulated net cash flows
earned by the project. Accordingly, based on the projected cash flow it is estimated
that the project’s initial investment will be fully recovered within 4 years.
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1. INTRODUCTION
Ethiopia is now becoming more and more investment friendly country. The
Government is creating favorable condition that would highly encourage the
private Sector to be engaged in almost all areas of the economy. The country with
population of come 103 million offers significant domestic market for locally for
locally produced goods and service the country is also a member of the common
Market for eastern and southern Africa Comesa offering huge benefit of Exporting
commodities in preferential tariff rates to a wider regional market.
Privet investment should be encouraged to increase form year to year and
Investment constraints have to be alleviated in order to pave Development ways so
that investment sector happens to be Determinant about factor of economic
development of the country like Ethiopia. It is usually considered as the engine of
the economy .both private and government Bodies in many ways have commonly
agreed this idea .economic development in Any case needs both efforts of the
privet as well as the public sector. There are Investments that could not be
undertaken by privet sector due to its difficult nature I .e high initial capital and
long gestation period.
However, the passed command economy system and the lack of experience
between both sides have made it so hard for a private sector to flourish. But now a
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day as Ethiopia follows free market economy ‘the roll of private sector for the
achievement of the economy policy. Accordingly, the Ethiopia federal democratic
government is encouraging investors to invest their records to contribute to the
development of the country in all sectors by avoiding all barriers and facilitating
all the mince for the investment
1.1. HOTEL AND TOURISM SECTOR IN ETHIOPIA

Ethiopia has vast potential for development of various economic sectors and
agriculture is the mainstay of the country’s economy the opportunity to invest in
other sectors especially in Hotel, Tourism and various recreation activities are
there. Although Ethiopia is endowed with many natural and manmade tourist
Attractions, these resources have not been sufficiently exploited. The Country’s
geographical location and the remarkable physical features and climate have
endorsed it with rich and varied natural heritages. Despite considerable demand,
tourism sector remains at relatively low stage of development.
The Hotel and recreation service facilities in Ethiopia have been found at a lower
level of development. The number of Hotel service establishments in the
country has remained insignificant to respond to the customer’s demand.
Only few Hotels have the capacity or quality to provide good
accommodation and catering facilities to fulfill tourists need. There are only few
hotels in the capital, Addis Ababa, and other big towns of the region states
that organized on international standard to fulfill the consumer’s Needs.
The government of Ethiopia has devised a long term strategy that gives due
regard to the preservation, development and promotion of the country’s
tourist attraction. This includes plan for expansion of tourist facilities and the
necessary infrastructure.
Indeed in the wider sense the country has a good potential for the
development of high standard hotels, recreation and market center and there
is a growing realization that this sector holds a significant development
perspective, which should be fully exploited in the planned and controlled
manner.
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In adopting a planned and regulated approach the country is in a position to
expand its hotel and tourism sector in a way that emphasizes environmental
conservation and enhances the quality of the overall tourist experience. This will
contribute substantially towards improving the standard of living and the
quality of life of the population.
The past trend shows that most of the high standard hotels and recreation
centers are concentrated in the capital, Addis Ababa. The number of hotels and
recreation service facilities in other regions of the country has remained
insignificant to respond to the customers demand. Only few hotels and
recreation centers out of Addis Ababa have the capacity to provide
Accommodation for mid or high-class guests.
By taking this encouraging as an opportunity the promoter project plan to

establish 3 star international/tourist Hotel service in sendafa bake town
administration for the benefit of the promoter, the district community as well
as the country as a whole.
According to the preliminary market research, the demand for hotel service is
very high and yet the supply is limited leaving a huge service gap to the
customer. Unfortunately there is no saturated standard hotel (3 stars) in the
area. Although few less than five star hotels have already working in the area,
but still huge gap is there in between demand and supply in the town. The
service (3 star hotels) is widely accepted in Sendafa Government employees,
Private employees, Tourists, local customers, and to some extent even in rich
house-holds. So there is good scope for establishing the units for establishing and
maintain 3 star standard /international and tourist hotel service in the town as
well as in the country. Due to this, it has become imperative to build and
maintain 3 star standard hotels service for the mankind in prevailing conditions.
1.3. THE PROJECT

1.3.1. PROJECT DESCRIPTION AND JUSTIFICATION
International standard tourist hotel is high class hotel (from three to five- star
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level) where services like bedroom, catering, meeting rooms,
multipurpose assembly hall, swimming pool, Spa (Hot Spring), gymnasium,
sauna and massage, other sports facilities like tennis or squash court, min- golf
or badminton, bowling, table tennis and children playground, night club with
dancing to live music or discotheque or cabaret etc.
A hotel is an establishment that provides paid lodging on a short-term basis.
Facilities provided may range from a modest-quality mattress in a small room

to large suites with bigger, higher-quality beds, a dresser, a refrigerator
and other kitchen facilities, upholstered chairs, a flat screen television and en-
suite bathrooms. Small, lower-priced hotels may offer only the most basic guest
services and facilities. Larger, higher-priced hotels may provide additional guest
facilities such as a swimming pool, business center (with computers, printers and
other office equipment), childcare, conference and event facilities, tennis or
basketball courts, gymnasium, restaurants, day spa and social function
services. Hotel rooms are usually numbered (or named in some smaller hotels
and B&Bs) to allow guests to identify their room. Some boutique, high-end
hotels have custom decorated rooms. Some hotels offer meals as part of a room
and board arrangement. In the United Kingdom, a hotel is required by law to
serve food and drinks to all guests within certain stated hours. In Japan,
capsule hotels provide a tiny room suitable only for sleeping and shared
bathroom facilities.
1.3.2. PROJECT OBJECTIVE

The main objective of the project is aimed at to maximize the return on
invested capital in the form of profit for the promoter. However, its
implementation will benefit the employee, the consumer society and the
government at different levels. In this respect the project is aimed to
promote the following main objectives:-
 To maximize the return on invested capital through modern Hotel

Services
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 To raise the significance and importance of the sector and thereby
raising its contribution to the national economic development
 To give quality and standard hotel service
 Effectively use local inputs and strengthening the linkage between
agriculture and other sectors of the economy
 To provide gainful employment to a large segment of the population of the
project area and augment earning capacity at the grassroots level,
 Increase government revenue through the different forms of taxes, which
in turn used to facilitate social and economic development.
In general, the project is believed to have significant social and economic

benefits that accrue to the society, the region and the country beyond the
financial returns to its owner.
1.3.3 MISSION AND GOAL

 Mission of the particular project is to expand the standard star hotel
system and to give quality service.
 To prove to other people that struggle for a better life and economic
Independences can do business and bring change and can make a
difference if opportunities are given.
 To become financially liquid and guaranteed more than ever.
Objectives are the goals toward which activities of the business are directed and
one of the most important functions the business owner must perform is setting
objectives. This important aims of this sole proprietorship business among
others include the following highly interrelated specific objectives with each
other.
1.3.4. SPECIFIC OBJECTIVE

To create permanent employment opportunities for 7 employees.
To achieve standard tourist hotel and give quality service.
To create income means for the owners,
To create job opportunity for the local communities.
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To create source of taxi benefit for the government
To give social service at a reasonable price and
To transfer different knowledge of motel and fuel station investment value
for the local community.
To focus on the customers, promoting an exceptional guest experience.
To Offer a good service with the adequate resources.
To Respect the Hotel environment, treating the co-workers and guests
accurately, as well as, having a sustainable behavior to the society and the
region.
To Create a mutually trust relationship with Hotels´ guests and
shareholders.
To Conduct the business ethically and responsible.
1.3.5. PROJECT SCOPE
2.3.6. PROJECT LOCATION

The proposed project of 3 star International hotel will planned to be located in
Lega tafo Town administration.
The total land size the promoter requesting for the implementation of the project
is estimated at 2,300 square meters, which will be obtained from investment
commission of oromia regional state. Sendafa bakke town administration .Hence
the owners select for proposed project by looking every aspects of business
integrity tourist area.
1.3.7. SIGNIFICANCE OF THE PROJECT

It is to maintain 100% occupancy and to provide travelers with a low cost superior
quality establishment that provides comfortable lodging to all and aspires to
maintain a loyal customer base by providing outstanding lodging. The comfort and
care of our guests is primary concern. It aims to provide an environment and
amenities that encourage and promote an excellent nights rest for weary travelers.
Specially, a firm fully owned and operated by women to purchase energy efficient
equipment and hire, minorities, and the unemployed.
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1.4. PRODUCT DESCRIPTION AND CAPACITY
The proposed resort is expected to serve 550 people/customer per day at its full
capacity by providing different foods and beverage, coffee, teas and shopping
service. The resort to be constructed will have 160 bed rooms’ facilities.
2. MARKET STUDY AN PLANT PROSPECT
2.1. GENERAL OVERVIEW

The economic vitality of the market area and neighborhood surrounding the
subject site is an important consideration in forecasting lodging demand and
future income potential. Economic and demographic trends that reflect the
amount of visitation provide a basis from which to project lodging demand.
The purpose of the market area analysis is to review available economic and
demographic data to determine whether the local market will undergo economic
growth, stabilize, or decline. In addition to predicting the direction of the economy,
the rate of change must be quantified. These trends are then correlated based on
their propensity to reflect variations in lodging demand, with the objective of
forecasting the amount of growth or decline in visitation by individual market
segment, i.e. commercial, meeting and group, and leisure.
The hotel industry consists of many different services, including

accommodation, restaurants, and cafes and catering. The market for the hotel
industry, especially classified hotels in a developing country like
Ethiopia, is closely linked to the tourism industry, because a majority of
consumers for the sector services come from international tourists.
According to the United Nations Statistical Commission, Tourism
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comprises the activities of persons traveling to and staying in places
outside their usual environment for not more than one consecutive year and
staying at least 24 hours in the country visited.
The total number of international tourists arriving in Ethiopia is steadily

increasing. The highest number of tourist arrival is in 2005 i.e. 227.4
thousand. As can be seen from Table 3.3, during the period 1991-2005 except
for the decline observed in year 1998, the number of tourists visiting the
country was consistently growing. The growth rate registered varies from year
to year; the lowest was in 1992 (2%) and the highest in 1997 (27.7%). However,
on average during the period under consideration tourist arrivals have been
increasing by about 8 % per annum.
According to the information obtained from the Ministry of Culture and Tourism,
the total number of hotels in Ethiopia is 373 and rooms and beds are computed to
reach 10,930 and 14,535, respectively in year 2019.
In case of star hotels, the total number at national level is 58 with the capacity of
3,405 rooms and about 5,116 beds, while in Addis Ababa there are 28 star hotels
and 2,282 rooms and 3,294 beds. The remaining 29 hotels in Addis Ababa are
recommended - to - tourist hotels that may be grouped in the near future to the
star rating system upon upgrading their services to the level of the required
international standard.
Regarding existing hotel capacity, projected and unsatisfied demand
projection, in passengers Arrival in 2019 and 2020 are expected to reach 667,912
and 1669780 respectively whereas, Room Night Demand will be reached 1803363 in
2020.but Existing Hotels Capacity is estimated only 597,140 rooms.
Therefore, Un Satisfied Demand=1,803,363(room demand) less 597,140
(existing rooms capacity) =1,930,175 rooms shows demand gap in the country
and according to the information gathered it indicate that in Lega Tafo, and its
surrounding there are inadequate of hotels , rooms and beds.
2.2. MARKETING STRATEGY

As discussed earlier the major target groups of hotel sector are tourists who
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arrives the country for business, leisure, conference and other purposes.
Providing quality services and consistently improving with the changing

situations should be the promoters’ objective. Hence, according to the
feasibility study, the promoter has the following marketing strategies:
Contacting government and private agencies affiliated with tourism on a

regular basis, informing them of any corporate rate, discount
programs, availability of services, etc.
Emphasizing the access of the proposed hotel to support client’s
attractions, as well as the services and amenities available.
Special effort will be made to emphasize the price-value relationship of the
service available.
Actively marketing the hotel prior to the completion and opening.
An aggressive local marketing effort and promotion of the hotel market to
enable the hotel to capture a more than proportionate share of support
within the market.
Working with local people to establish a competitive amenity package
responsive to specific requirements.
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3. TECHNICAL STUDY
3.1. DESIGN AND PARTICULARS

The project owner interest, as regards to how the overall building design looks
like and the level of service to be rendered by the envisaged project, is dependent
on the area at which the buildings to be placed. The owner has already decided
to commit himself to construct a three star hotel having the full knowledge what
is required by the national and international standard of Hotels in Ethiopia. The
standard by the way its exhaustiveness as well as being explicitly specific on
the level of the service expected under the selected category, determines also
the physical and financial requirement of the project. Hence, in effect the
contents of project components to be described below are the derivatives of the
requirements mentioned above.
3.2. PHYSICAL APPEARANCE

The hotel would have G + 8 building placed on an area of 6000 m2. The
architecture of the buildings are influenced by the modern design setting
holding the characters of attracting customers from out ward and allowing the
maximum comfort it can provide from service point of view. Apart from the need
to add a new look within the locality, exterior of the building will be dominated by
a glass panel at the strategic corners to provide a maximum opportunity for
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guest to have, a look at the important land escape/scenery of the area.
The outer space is allocated to have an open garden, children’s playing

ground, parking area, fountains and inter campus paving with a medium size
swimming pool adjoining the front side of the buildings.
3.3. CORE FACILITIES

The envisaged hotel should have sufficient and comfortable space to
accommodate the core services as per the requirements of the three star
hotels. Actually this has been considered seriously at the design stage of the
building along with the allocation of appropriate area and placement of each
components with the building accordingly. On the other hand, it is also
important to figure out the layout of each component not only from the
perspective of having compliance for the standard but for the benefit
exploring possibilities of bringing complementary services under the same
location and allow maximum convenience in the work processes. The size (area) of
each service, which will be explained below, determine the holding capacity of
guests as it determines the level and quality of service. Other than the critical
factors mentioned above the market aspect i.e. Customers need and resource
availability is considered in which case they are the determinants to give the final
set up of the facilities.
(a) Bed rooms

A total of 80 classes are allotted for room services with options to avail two
different types of Accommodations. In the interest of following the
trend in the Industry single and double Bedrooms. Actually the
Standard requires allowing Maximum 30% from the total while the rest
can remain with double bed rooms or any other smaller rooms. On the bases
of the above considerations under this component, the hotel will have 50 single,
20 double and 10 suit king bed rooms.
(b) Bars
Standard three star hotels must have at least one bar with a superior
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comfort and service quality. The furniture and equipment’s, as being the basic
sources of customer’s attractions, need to be fashionable of higher quality
commensurate with the expectation of guests who happen to prefer is class.
Therefore, the envisaged hotel, having the requirements considered too,
will have one main bar at the ground floor adjoining the reception area.
Another bar preferably with smaller space but furnished with cozy furniture will be
placed at top floor of the building. This is just to add another attractive look for
the hotel as it will be placed at a strategic location for customer to have a
panoramic view of the area. The minimum carrying capacity of the bars is
estimated 200 persons per day.
(c) Main restaurant

Technically a hotel to be classified under Five stars of as such this one must
have at least two dining places having the size proportional to the guests who
have checked in as normally customers do not prefer to worry about going out
once they have settled. The area determination has to take into account this.
Hence, the hotel must provide the maximum range of varieties at all times.
The hotel will have the capacity entertaining 200 guests and allow
maximum efficiency in the service by having the restaurant located nearer to the
main kitchen.
(d) Banquet/Conference hall
A hotel with three stars needs to have a conference/banquet hall of larger area
which can be used for banquet or conference interchangeably. This project
considers this component as the second important function next to the room
services as this area has a higher potential for such services. The holding
capacity of the main conference hall will be 500 persons.
E .Business center (mini market shop)

A three star hotel needs to have also a business center with the service that
would the customers need. For such a service, the envisaged project will
allocate a relatively bigger area preferably separate rooms at the ground floor.
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Rooms are allocated to secretarial service, executive rooms for business
meeting and shopping corners. The secretarial service will be furnished with
all the machines and equipment to handle any business enquiry that may be
raised by hotel guests. The shopping corner also accommodates mini
boutique, cosmetics and d/t type of shop
F. Supports
Kitchen
Two kitchens, with the processes of multiple varieties of food preparation and a
proportional capacity to handle the maximum guests to be served in the main
restaurant as well as in banquet hall, is the critical requirement for the
proposed hotel. It should be large enough also to accommodate the working
areas of cold and hot meals on the one hand and pastries and bakery on the
other.
In order to allow reasonable space for workers to move around as well as to avoid
the possibility of contamination and spoilage, the pastries and bakery will be
placed at the nearest door joining the main buffet at the gate of the restaurant.
On the other hand, the kitchen should be provided with a space to add a small
store with a flexible structure to contain butchery and cold rooms. These are
critical for easy facilitation of cooking’s. Moreover, the kitchen will have a well-
connected washing corner with at most margin of clearance to make the area
safe and clean.
h. Power House
For the service of the hotel to continue uninterrupted, a power house is

already planned to be placed in the underground or back to the building.
Hence, the power house will be supplied with a genera l planned to be fixed for
emergency service.
g. store
Alike the capacity projection made on the kitchen, the envisaged project
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requires a store as big as the varieties of items that are needed to be kept as stock.
The store will need to have a systematic management for stocks properly
placed and identified at the time of delivery and inventory. Hence, it is the required
procedure to organize the stock items in separate sections so that the pro per
handling of stocks shall be maintained. In view of this, the hotel requires a
number of stores with sections for food items, beverage, glass wares, silver
wares, soft furnishings, cleaning and sanitary materials, stationery materials all
placed according to their physical appearances. The store will be placed in
locations nearer to kitchen or leisure service.
Car Parking
The hotel must provide the service of car parking with 24 hours protection at
least for those customers who have checked in. Again, it should be large enough
to accommodate as many vehicles as the hotel is going to entertain a large crowd.
In view of this, a parking space for about 17 vehicles I planned to be
allocated with the standard width and height of the drive in routes.
3.4. Hotel Furniture and Equipment’s

Furniture and equipment required to furnish the envisaged hotel depend on the
space to be available as well as on the quality and volume of service to be
rendered. Normally the quantity required will also depend on the standard
of the hotel i.e. Five star hotel. To the extent that the engineering design of the
building align with the requirements of the standard, the projection of
furniture and equipment’s has to be consistent with the size and number of
rooms, bars, restaurants and leisure center. However, one has to be realistic in
the sense that the forecasting trend to link with the technical feasibility
particularly with that of the envisaged service capacity.
Moreover, the balance to be between image building and income generation

capacity has the same level of influence as said above.
Therefore, for this particular category of forecasting two levels of

considerations are taken into account. One, by the fact that the design of
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building directly determines the space available for every item, size will be
governed by this and again the quality required furniture will determine base
on the kinds of facilities available. In any case the required quantities are
forecasted based on the components stated below:
80 bed rooms,
o 10 king size luxury bed rooms
O 20 standard Double bedrooms
o 50 standard Single bed rooms
Special Bar and cafeteria
Traditional and international restaurant
conference rooms,
Massage room
Sauna and steam bath room
Physical fitness room
Night club (dancing area)
Indoor and outdoor game facilities,
Management office and store,

Other civil works including land escaping, parking area,
fountains and inter campus paving.
Secondly, in order to fulfill the basic requirements of hotel service, the
quantities forecasted for the above facilities have to be reviewed against the
national standard. Such consideration gives the benefit of consciously
sorting out what item goes with what kind of facility or service. Once this is
determined the forecast of quantity will follow accordingly. The project detail
design work has already been undertaken and the planned facilities of the
project and the required quantities are forecasted in section 5.
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4.5. Plant capacity and production program
As the number of population increase the need to use resort service will increases.
The demand for social service will be satisfied by the establishment of the modern
recreational center. In addition, the availability of hotel the proposed area and it is
surrounding is not satisfactory compared to the high demanded service. On the
other hand, the availability of electricity, road and water in the area will encourage
investors to involve in such development activities. This is one of the reasons that
the project owner is interested to invest in resort development.
From the market study, it is observed that there is a great demand gap between
the demand and supply of standard hotel service. Therefore, taking in to account
the market study and economic scale of service provision the envisaged hotel will
have capacities of hotel bed rooms, and supermarket.
4.6. Promotion
The promotion policy aims to communicate and present the hotel, value it and
create interest in the customers, building a customer relationship as well as gain
some notoriety in the market. At the beginning, the hotel will invest in the
meaningful and necessary means of communication, in order not to incur in
unnecessary costs, adapting its strategy to future potential needs.
Thus, there will be defined some communication actions both above the line
(media)and below the line. For the first group – publicity/communication in the
media – the hotel will invest in its presence in internet, since this is an immediate,
simple, customizable, and accessible tool that has been increasingly used by
travelers to find information and book hotels. Concerning the actions below the line,
they will be done mainly at a Public Relations level.
Furthermore, communication actions will be used through Direct and Relationship
Marketing that intends to communicate directly to the customer through
personalized emails or newsletters, presenting a set of contents that are related to
customers’ preferences. It will be sent to customers according to the database
analysis and the conducted surveys, in order to understand the identified needs
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and challenges of the market while striving to incorporate customer feedback in
order to improve its products and services.
4. MATERIALS AND INPUTS

4.1. Utilities
The utilities required for the service provision are electricity for lighting, for
running of facility and equipment, and cold water for all services available,
gardening, drinking, etc. The hotel also needs telephone for both local and
international communication including Internet service and LPG gas for various
kitchens, diesel and petrol fuel for diesel generators and for running vehicles.
4.2. Electricity
Since no machinery will be used in the firm, the consumption will be only for
obtaining light and some office work. Thus the consumption is estimated at 3
kWh, and the total energy requirement for 8 hours a day is estimated at 24 kWh
per day. Hence, in 365 days the total annual consumption will be 8,760 kWh.
4.3. Water
Water is used for cleaning and drinking in the project. The total water
consumption will about 425 m3 annually.
Cost of utilities
Table.1.
21
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Sr. Description Unit Qty Unit Cost Total Cost
No. (Birr) (Birr)
1 Electricity kWh 8,760 0.4736 4,149
2 Water M3 425 3.25 1,380
Total 5,529
5. TECHNOLOGY AND ENGINEERING

5.1. Technology
Light construction material with the support of locally available material will be
used for the construction of the buildings. Good communication technologies like
(mobile phone, radio, and television) and professional knowledge are used to
manage the overall business activities of the proposed project. Different market
linkage operation should also be conducted by providing business cards to the
client and through creating networking chains with plants by the use of email and
mass media.
5.2. Engineering
5.2.1. Land use plan
The total area of land required for the plant is estimated to be 2,300m2.
Generally, different units to be constructed are described as follows.
One of the principles of the defined business strategy is based on cost

containment, in order to make it possible to practice very competitive prices and
22
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achieve greater uptake of potential customers. Thus, it is vital to minimize the
initial investment, being the cost of the building a factor to take into consideration
in decision-making. On the other hand, it is important to take into account the
features of the building, such as the net internal area and the number of rooms.
5.2.2.. Construction costs

The establishment of the project is initiated by the cost of building and
construction. This is started by land preparation and site clearing up to
construction. The estimated cost for this work including utility connections and
disposal structures 5,324,800
. The following table 3 shows building and construction costs requirements.
Table 3 construction cost requirement
No Description Estimated
costs(birr)
2 Land preparation and site clearing 1750
3 Main building(bed rooms, supermarket, kitchen, store and 5,324,800
laundry room)
4 Guard house
5 Power house 15000
6 Fence and other construction 15000
Total 6,106
,550
5.2.3. Machinery and equipment costs.

Even if the initiation of the project is from building and construction, the most and
backbone of the project is equipment. The costs of this equipment are not fixed. It
depends on the world market price, because the cost of equipment is always
fluctuating. In the table 4 it can be seen the chosen equipment as well as their
prices, suppliers and life cycle. It is crucial to underline that the suppliers are
selected based on their price, quality and credibility. The following table 4 shows
the costs of equipment’s.
Table 4.machinery and equipment costs
23
Mob.0911445382/0947379692/0937638691
No description quality Unity cost Total
1 Imported and non-imported machinery cost Bulk 9000 9000
2 Alternate for lighting 1 7500 7500
3 Vehicle 1 3000 3000
5 generator 1 12000 12000
6 Laundry machine 1 15000 15000
7 furniture’s and equipment Bulk 80000 80000
Total 126,500
6. MANPOWER AND TRAINING REQUIREMENT

6.1. Manpower requirement
The total manpower of the project employees 7 permanent workers. Workers
qualification and their annual salary are shown in the following table 5.
Table 5. Manpower requirement and salary.
S.N position quantity qualification Monthly Annual

salary salary
1 General Manager 1 BSc in Tourism 5000 60000
management
2 cashier 1 Degree in accounting 4000 48000
3 Hotel workers 1 Degree in hotel 2000 24000
management
4 Supermarket 4 Grade 10+3 4000 48000
workers’
6 cleaners 1 Grade 10+3 complete 2000 24000
7 Guard 1 Grade 10 complete 2000 24000
Total 7 228000
24
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6.2. Training requirement
Scheduling Special skill building training is required for the staff members in
cooking, catering and sales. So the training program will be designed for all 7
employees to perform their duties in efficient and effective manner in order to
achieve firm desired goals and objectives. This project will build on the initial
project and formalize training and further provide basic training entrepreneurship
in order to enter the culinary employment or the self-employed market.
7. FINANCIAL ANALYSIS
The financial analysis of the project is based on the data presented in the previous
chapters and the following assumptions:-
Scope and Objectives of financial analysis
The main objective of this financial analysis is to measure the financial viability of
proposed project under prevailing market conditions. The basic question to be
addressed is whether the project can survive financially if it is left to the forces of
the market.
7.1. Technical aspect analysis of Cash inflows

Sales of product or services
12 months of operating in a year that is revenue is of the 12 months sales of food,

beverage, coffee, tea drinks, shopping product, rents of bed rooms and other
facilities in the year.
25
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Sales of food and beverage include the following terms.
 People/customer served per day =550
 Projected price (per day/person=265)
 550 people /customers/per day =birr 145750
 10500 people/customers served/ per month =birr 4372500
 126000 people/customers served/ Gross anticipated income per annum
(grand service) =birr 52470000
Sales of Beds services
 Unit price of a Bed per day=birr 850
 Number of beds provides service per day=100
 Sales service of beds per day = birr 136000
 Sales service of beds per month= birr 4080000
 Gross anticipated income per annum (grand service) =birr 58752000.
Recovery of networking capital(at the last planning horizon of project)
Other miscellaneous income source= birr 936000
7.2. Technical aspect analysis of cash out flows

7.3. Total initial investment cost
The total investment cost of the project including working capital is estimated at
Birr 10,400,000 Million, of which 100 per cent will be required in local currency.
The major breakdown of the total initial investment cost is shown in Table 6.
7.3. Initial investment costs
Table 6.
no Costs Items
Total costs
/Eth birr
2.1.1 Fixed capital costs
 Land acquisition and site preparation 682,527
 Building and civil work 5,324,800
 Machineries and equipment 1,628,679
Sub-total fixed costs 7,636,006
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Mob.0911445382/0947379692/0937638691
2.1.2 pre-production costs
-
 Preparatory study costs 1,706
 Pre investment study costs( prefeasibility,
feasibility opportunity study) 5,119
 Preproduction manpower costs 2,559
 Consultant fees (design and engineering 13,651
costs)
 Training costs 6,825
Sub-total pre-production costs 29,861
2.1.3 Net working capital costs 2,734,134
Total Investment costs 10,400,000
7.4. Production cost and expenses

The annual production cost at full operation capacity is estimated at Birr 2,734,134
million (see Table 7). The major components of the production cost are
depreciation, purchase cost and firm input. The remaining are the share of utility,
direct labor, land lease cost, repair and maintenance and other administration
cost.
Table.7. Production cost
no Costs Items Total costs/

Eth birr
1 Total production costs 2,734,134
no Costs Items Total costs/

Eth birr
1 Total Administrative expenses 229,272.788
7. 5.financial evaluation
7.5.1. Financing plan
The project is expected to be financed both by owners equity and bank loan.25%
(birr 2,600,000) of the total investment cost will be financed by project promoter
and the remaining 75 %( birr 7,800,000) will be covered from bank loan which is
27
Mob.0911445382/0947379692/0937638691
to be repaid within three years of operation in 12 months repayment. The loan is
expected to be released on january1, 2022 with one year grace period.
 5% Depreciation for building accounts.
 10% furniture and equipment depreciation
 20% for the vehicle depreciation
Tax holiday is considered for the first operating years.
35% taxi income from net income starting from the first year.
Interest rate on bank loan is considered to be 8.5%.
7.5.2. Profitability
Based on the projected profit and loss statement, the project will generate a profit
beginning from first year of operation. Annual net profit after tax will grow from
Birr 406419948 million to Birr 6.2 million during the life of the project. Moreover,
at the end of the project life the accumulated cash flow amounts to Birr 4 million.
7.5.3. Ratios
In financial analysis financial ratios and efficiency ratios are used as an index or
yardstick for evaluating the financial position of a firm. It is also an indicator for
the strength and weakness of the firm or a project. Using the year-end balance
sheet figures and other relevant data, the most important ratios such as return on
sales which is computed by dividing net income by revenue, return on assets
(operating income divided by assets), return on equity (net profit divided by equity)
and return on total investment (net profit plus interest divided by total investment)
has been carried out over the period of the project life and all the results are found
to be satisfactory.
7.5.4.. Break-even Analysis
The break-even analysis establishes a relationship between operation costs and
revenues. It indicates the level at which costs and revenue are in equilibrium. To
this end, the break-even point of the project including cost of finance when it
starts to operate at full capacity (year 10) is estimated by using income statement
projection.
28
Mob.0911445382/0947379692/0937638691
Breakeven point analysis (BEPA) = Fixed Cost = 12 %
Sales – Variable Cost
7.5.5. Payback Period
The payback period, also called pay – off period is defined as the period required
recovering the original investment outlay through the accumulated net cash flows
earned by the project. Accordingly, based on the projected cash flow it is estimated
that the project’s initial investment will be fully recovered within 4 years.
7.5.6. Internal Rate of Return
The internal rate of return (IRR) is the annualized effective compounded return
rate that can be earned on the invested capital, i.e., the yield on the investment.
Put another way, the internal rate of return for an investment is the discount rate
that makes the net present value of the investment's income stream total to zero.
It is an indicator of the efficiency or quality of an investment. A project is a good
investment proposition if its IRR is greater than the rate of return that could be
earned by alternate investments or putting the money in a bank account.
Accordingly, the IRR of this porject is computed to be 23 % indicating the
vaiability of the project.
7.5.7. Net Present Value
Net present value (NPV) is defined as the total present ( discounted) value of a time
series of cash flows. NPV aggregates cash flows that occur during different periods
of time during the life of a project in to a common measuring unit i.e. present
value. It is a standard method for using the time value of money to appraise
long-term projects. NPV is an indicator of how much value an investment or
project adds to the capital invested. In principal a project is accepted if the NPV is
non-negative.
Accordingly, the net present value (NPV) of the project at 8.5% discount rate is
found to be Birr 15 million which is acceptable.
7.5.8.. Economic Benefits
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The project will generate 21.to 33 million in terms of tax revenue in consecutive
production years. The project creates employment for 7 persons. In addition to
supply of the domestic needs, the project will generate Birr has a forward linkage
effect with food industries.
7.5.9. Environmental and Social Impact Assessment
The protection of environment gives significant attention in Ethiopia’s major policy

and legislative document including the constitution and the national
environmental policy. The new economic policy adopted by the government is
envisaged to encourage the acceleration of local and foreign industrial, agricultural
as well as service economic sectors of the country. Having these in mind the
project promoter will prepare detail environmental impact assessment with the
mitigations as soon as the land is permitted.
In addition, proper monitoring and follow up mechanisms will be made during

construction and production as far as impact of the project is concerned.
7. Conclusion
The current investment code of Ethiopian government is facilitating and

encouraging private investment through provision of a package of incentives
including import duty exceptions, availing of land for investment activities and
legal protection of property rights. Mr. Shibiru Gurmu is planning to establish his
own three stars hotel in Oromia Regional state, special zone of surrounding
Finfnnee in Sendafa bake town administration.
Based on financial, economic and marketing analysis, the project is found to be

operationally profitable and has significant socio-economic benefits for the country
in general and the promoter in particular. In addition, it is considered to create
employment opportunity for a number of citizens and generate income for the
project owner and contribute to government tax revenue. Therefore, the promoter
of the project has made necessary preparation to establish the project hopping
30
Mob.0911445382/0947379692/0937638691
that all the concerned offices would give their support to facilitate the
implementation of the proposed project plan to be undertaken.
APPENDIX 7.A
FINANCIAL ANALYSES SUPPORTING TAB
31
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Appendix 7.A.1
NET WORKING CAPITAL ( in 000 Birr)
Items Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11
718 718 718 718 718 718 718
Total inventory 530 608 718
Accounts receivable 266 300.22 351.00 351.00 351.71 351.71 351.71 351.71 351.71 352
Cash-in-hand 8.94 10.13 11.92 11.92 12.04 12.04 12.04 12.04 12.04 12.04
CURRENT ASSETS 808.39 914.51 1,073.69 1,073.69 1,074.52 1,074.52 1,074.52 1,074.52 1,074.52 1,074.52
Accounts payable 42.25 47.89 56.34 56.34 56.34 56.34 56.34 56.34 56.34 56.34
CURRENT LIABILITIES 42.25 47.89 56.34 56.34 56.34 56.34 56.34 56.34 56.34 56.34
TOTAL WORKING CAPITAL 766.14 866.62 1,017.35 1,017.35 1,018.18 1,018.18 1,018.18 1,018.18 1,018.18 1,018.18
Appendix 7.A.2PRODUCTION COST ( in 000 Birr)

TEAM: business and investment project consultancy service plc. 31
Mob.0911445382/0947379692/0937638691
Item Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11
Raw Material and Inputs 2,132 2,417 2,843 2,843 2,843 2,843 2,843 2,843 2,843 2,843
Utilities 271 307 361 361 361 361 361 361 361 361
Maintenance and repair 199 226 266 266 266 266 266 266 266 266
Labour direct 308 349 410 410 410 410 410 410 410 410
Labour overheads 62 70 82 82 82 82 82 82 82 82
Administration Costs 75 85 100 100 100 100 100 100 100 100
Land lease cost 0 0 0 0 8.55 8.55 8.55 8.55 8.55 8.55

Cost of marketing
and distribution 150 150 150 150 150 150 150 150 150 150
Total Operating Costs 3,196 3,603 4,212 4,212 4,221 4,221 4,221 4,221 4,221 4,221
Depreciation 2,238 2,238 2,238 2,238 2,238 138 138 138 138 138
Cost of Finance 0 1,100 963 825 688 550 413 275 138 0
Total Production Cost 5,434 6,941 7,412 7,275 7,146 4,909 4,771 4,634 4,496 4,359

Mob.0911445382/0947379692/0937638691
Appendix 7.A.3 INCOME STATEMENT ( in 000 Birr)
Item Year Year Year Year Year Year Year Year 9 Year 10 Year 11
2 3 4 5 6 7 8
Sales revenue 6,921 7,690 7,690 7,690 7,690 7,690 7,690 7,690 7,690 7,690
Less variable costs 3,046 3,453 4,062 4,062 4,062 4,062 4,062 4,062 4,062 4,062
VARIABLE MARGIN 3,875 4,237 3,628 3,628 3,628 3,628 3,628 3,628 3,628 3,628
in % of sales revenue 55.98 55.10 47.18 47.18 47.18 47.18 47.18 47.18 47.18 47.18
Less fixed costs 2,388 2,388 2,388 2,388 2,396 297 297 297 297 297
OPERATIONAL MARGIN 1,487 1,850 1,240 1,240 1,232 3,331 3,331 3,331 3,331 3,331
Financial costs 1,100 963 825 688 550 413 275 138 0
GROSS PROFIT 1,487 749 278 415 544 2,781 2,919 3,056 3,194 3,331
Income (corporate) tax 0 0 0 125 163 834 876 917 958 999
NET PROFIT 1,487 749 278 291 381 1,947 2,043 2,139 2,236 2,332

Mob.0911445382/0947379692/0937638691
Appendix 7.A.4 CASH FLOW FOR FINANCIAL MANAGEMENT ( in 000 Birr)
Item Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Scrap
TOTAL CASH INFLOW 13,524 8,730 7,696 7,698 7,690 7,690 7,690 7,690 7,690 7,690 7,690 3,665
Inflow funds 13,524 1,809 6 8 0 0 0 0 0 0 0 0
Inflow operation 0 6,921 7,690 7,690 7,690 7,690 7,690 7,690 7,690 7,690 7,690 0
Other income 0 0 0 0 0 0 0 0 0 0 0 3,665
TOTAL CASH
OUTFLOW 13,524 5,005 6,185 6,709 6,537 6,448 6,981 6,884 6,788 6,692 5,220 0
Increase in fixed assets 13,524 0 0 0 0 0 0 0 0 0 0 0
Increase in current assets 0 808 106 159 0 1 0 0 0 0 0 0
Operating costs 0 3,046 3,453 4,062 4,062 4,071 4,071 4,071 4,071 4,071 4,071 0
Marketing and Distribution
cost 0 150 150 150 150 150 150 150 150 150 150 0
Income tax 0 0 0 0 125 163 834 876 917 958 999 0

Financial costs 0 1,000 1,100 963 825 688 550 413 275 138 0 0
Loan repayment 0 0 1,375 1,375 1,375 1,375 1,375 1,375 1,375 1,375 0 0
SURPLUS (DEFICIT) 0 3,725 1,511 989 1,153 1,242 709 806 902 998 2,470 3,665
CUMULATIVE CASH BALANCE
0 3,725 5,236 6,225 7,377 8,620 9,329 10,135 11,037 12,035 14,505 18,170

Mob.0911445382/0947379692/0937638691
Appendix 7.A.5DISCOUNTED CASH
FLOW ( in 000 Birr)
Year Year Year Year Year Year

Item Year 1 2 Year 3 4 Year 5 6 7 8 Year 9 10 Year 11 Scrap
TOTAL CASH INFLOW 0 6,921 7,690 7,690 7,690 7,690 7,690 7,690 7,690 7,690 7,690 3,665
Inflow operation 0 6,921 7,690 7,690 7,690 7,690 7,690 7,690 7,690 7,690 7,690 0
Other income 0 0 0 0 0 0 0 0 0 0 0 3,665
TOTAL CASH OUTFLOW 14,290 3,297 3,753 4,212 4,337 4,384 5,055 5,096 5,137 5,179 5,220 0
Increase in fixed assets 13,524 0 0 0 0 0 0 0 0 0 0 0
Increase in net working capital 766 100 151 0 1 0 0 0 0 0 0 0
Operating costs 0 3,046 3,453 4,062 4,062 4,071 4,071 4,071 4,071 4,071 4,071 0
Marketing and Distribution cost 0 150 150 150 150 150 150 150 150 150 150 0
Income (corporate) tax 0 0 0 125 163 834 876 917 958 999 0
NET CASH FLOW -14,290 3,624 3,937 3,478 3,353 3,306 2,635 2,594 2,553 2,511 2,470 3,665
-
CUMULATIVE NET CASH FLOW -14,290 10,666 -6,730 -3,252 101 3,407 6,042 8,636 11,189 13,700 16,170 19,835
Net present value -14,290 3,295 3,253 2,613 2,290 2,053 1,487 1,331 1,191 1,065 952 1,413
-
Cumulative net present value -14,290 10,996 -7,743 -5,129 -2,840 -787 701 2,032 3,223 4,288 5,240 6,653

Mob.0911445382/0947379692/0937638691
Mob.0911445382/0947379692/0937638691

Biniam Main Hotel Project

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Biniam Main Hotel Project

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CONTENTS

1.1. HOTEL AND TOURISM SECTOR IN ETHIOPIA.............................................6

1.3. THE PROJECT........................................................................................................7

1.3.2. PROJECT OBJECTIVE.......................................................................................8

1.3.3 MISSION AND GOAL.................................................................................................9

1.3.4. SPECIFIC OBJECTIVE........................................................................................9

1.3.5. PROJECT SCOPE.....................................................................................................10

2.3.6. PROJECT LOCATION.......................................................................................10

1.3.7. SIGNIFICANCE OF THE PROJECT..............................................................10

1.4. PRODUCT DESCRIPTION AND CAPACITY.....................................11

2. MARKET STUDY AN PLANT PROSPECT.................................................................11

2.1. GENERAL OVERVIEW.........................................................................................11

2.2. MARKETING STRATEGY....................................................................................12

3.1. DESIGN AND PARTICULARS.............................................................................14

3.2. PHYSICAL APPEARANCE....................................................................................14

3.3. CORE FACILITIES.................................................................................................15

4.5. PLANT CAPACITY AND PRODUCTION PROGRAM.....................................20

4. MATERIALS AND INPUTS...............................................................21

5.2.2.. CONSTRUCTION COSTS................................................................................23

5.2.3. MACHINERY AND EQUIPMENT COSTS............................................................23

6. MANPOWER AND TRAINING REQUIREMENT...................................24

6.1. MANPOWER REQUIREMENT............................................................................24

6.2. TRAINING REQUIREMENT......................................................................................25

7.1. TECHNICAL ASPECT ANALYSIS OF CASH INFLOWS..............................25

7.2. TECHNICAL ASPECT ANALYSIS OF CASH OUT FLOWS.........................26

7.4. PRODUCTION COST AND EXPENSES...........................................................27

1.1. HOTEL AND TOURISM SECTOR IN ETHIOPIA

By taking this encouraging as an opportunity the promoter project plan to

1.3. THE PROJECT

A hotel is an establishment that provides paid lodging on a short-term basis.

Facilities provided may range from a modest-quality mattress in a small room

1.3.2. PROJECT OBJECTIVE

 To maximize the return on invested capital through modern Hotel

In general, the project is believed to have significant social and economic

1.3.3 MISSION AND GOAL

1.3.4. SPECIFIC OBJECTIVE

1.3.5. PROJECT SCOPE

2.3.6. PROJECT LOCATION

1.3.7. SIGNIFICANCE OF THE PROJECT

2. MARKET STUDY AN PLANT PROSPECT

2.1. GENERAL OVERVIEW

The hotel industry consists of many different services, including

According to the United Nations Statistical Commission, Tourism

The total number of international tourists arriving in Ethiopia is steadily

2.2. MARKETING STRATEGY

Providing quality services and consistently improving with the changing

Contacting government and private agencies affiliated with tourism on a

3.1. DESIGN AND PARTICULARS

3.2. PHYSICAL APPEARANCE

The outer space is allocated to have an open garden, children’s playing

3.3. CORE FACILITIES

(a) Bed rooms

(c) Main restaurant

(d) Banquet/Conference hall

E .Business center (mini market shop)

For the service of the hotel to continue uninterrupted, a power house is

3.4. Hotel Furniture and Equipment’s

Moreover, the balance to be between image building and income generation

Therefore, for this particular category of forecasting two levels of

80 bed rooms,

o 10 king size luxury bed rooms

O 20 standard Double bedrooms

o 50 standard Single bed rooms

Special Bar and cafeteria