Take reference from these steps to start a hotel in Malaysia to make a handsome income.
Many new entrepreneurs ask, how profitable is running a hotel in Malaysia?
Starting a hotel business in Malaysia is highly profitable as Malaysia is one of the most preferable places for tourists.
Data shows that Malaysia is one of the top 10 places for tourists’ destinations and more than 4 million tourists visit Malaysia every year.
Therefore, starting a hotel business in Malaysia is very remunerative for young entrepreneurs.
However, many also ask and think, is it hard to open a hotel?
Certainly, starting a hotel business in Malaysia is not actually hard, if you know what you have to do.
Therefore, this blog shares 5 simple steps to start a hotel in Malaysia, that you can follow or take reference from.
So, let’s have a look at them!
Steps to Start a Hotel in Malaysia
These are the simple steps to start a hotel in Malaysia that you can follow.
#1. Make a Hotel Business Plan
Making a hotel business plan is the first and the most crucial steps to start a hotel in Malaysia.
Moreover, it defines the complete roadmap of how to run a profitable hotel business in Malaysia.
So, how you can make a winning hotel business plan?
You can follow or take reference from these hotel business plan tips:
- Write a summary of your hotel business.
- Describe your USP (Unique Selling Point).
- Define your hotel business goals.
- Do market and competitor research.
- Understand your guests/visitors/customers.
Thus, these are some tips you can follow to make a perfect and winning hotel business plan.
Now, if you have made your plan, let’s head to the second step to start a hotel in Malaysia.
#2. Cost Estimation
Cost estimation is a vital factor to consider when starting a hotel business in Malaysia.
However, many new entrepreneurs fail in this step or don’t take it seriously.
And because of this, they get stuck at some place where they don’t have the funds to complete a task.
Furthermore, they either close the project or take funding from investors in exchange for their shares.
In other words, they sell their valuable shares for a little investment.
Therefore, to avoid these situations, doing cost estimation is essential.
So, how can you determine, how much it costs to start a hotel in Malaysia?
The cost of starting a hotel business varies, depending on:
- Location– Places like Kuala Lumpur are more expensive.
- Structure– Whether you want a multi-story or single-story resort/building.
- Size– How big you want your hotel, how many rooms, restaurants, and more you want.
- Operation Cost- How much money do you need for starting phase.
- Other costs– Like decorating items, interior design, looks, furniture, and more.
Thus, these are some points from which you can take reference for the cost estimation of your hotel.
#3. Licenses and Permits
Taking licenses and permits is another essential steps to start a hotel in Malaysia.
Moreover, there are several major approvals needed to start a hotel business in Malaysia.
However, the licenses and permits depending upon the hotel, i.e., how many facilities the hotel provides.
In short, approvals depend upon the star rating of a hotel.
So, these are the major licenses and permits you need for starting a hotel business in Malaysia.
- Lodging
- Bar/Lounge
- Entertainment/performance activities
- Restaurant/coffee house
- Swimming pool for adults and children
- Parking lot
- Launderette
- Beauty/Hair salon
- Signboard advertisements
Thus, these are some compulsory licenses for every level of hotels, maybe some more or less.
#4. Integrate Smart Payment System
The primary motive of hotels in Malaysia is to provide the best and memorable experience to their guests.
Certainly, there are many factors that affect guests’ experience such as room, view, personalized attentive services, easy checkout, and more.
In addition, the hotel payment systems also affect the overall experience of guests.
For instance, if an American comes to your hotel with a payment method that you don’t accept, what will happen?
The person will see some other hotel (your competitor) and never come again also don’t suggest your hotel to anyone.
Therefore, having a smart payment system that accepts major payment options is one of the crucial steps to starting a hotel in Malaysia.
And to help with that, you must have several ways to accept payment in hotels.
Hence, these are the steps to start a hotel in Malaysia that you can follow or take references from.
Conclusion
Starting a hotel in Malaysia is a lucrative business as Malaysia is one of the best places for tourists.
So, if you are an entrepreneur and want to start a hotel, you can follow the 4 steps to start a hotel in Malaysia that we have mentioned above.
And if you have any queries, you can ask in the comment section.