Business plan development in an international project aimed at creating a fictitious hotel

Abstract

The article describes the process of developing a business plan for a fictitious hotel as part of a simulation exercise involving five partners participating in an international project. It describes the project goals, its structure, tasks, and the achievements of the project participants. The starting point for the development of a business plan by each team were theoretical aspects that need to be considered in the process. Based on them, the participants designed their hotels under the guidance and mentorship of the project’s researchers. The project outputs in the form of proposals to create specific hotels in selected countries contribute to the project goals regarding entrepreneurship education through experiential learning provided to students of tourism. It can be argued that students participating in such simulations will be better prepared for the competitive labour market and will have the skills necessary to set up their own businesses in the hotel industry.