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Project Feasibility Study 2012Chaiyawat ThongintrSchool of ManagementMae Fah Luang UniversityMember1. Jittra Keawchalua 51312070432..Apimouk kumsura 53312070503.Kanrawee Keeratinirandorn 53312070054.Yodsawadee Sidtisa-nguanpan 53312070335. Mookparat Promariya 53312070376. Saifon Saeching 53312070417. Ei Namg Woe Tit 53312070588. Sai Han Woon
Citation preview
1
La Casa Service Apartment
2
Preface
This Project is a part of 1203302 Project Feasibility Study and Evaluation Course in the
second semester of 2012. In this project is studying the feasibility of “Lacasa” Service apartment
in Thonglor, Bangkok province. This project include general information of service department,
industry profile, market strategies, the technical process in apartment business, the financial
feasibility of service apartment business and risk management of service apartment business.
This project makes people who interest to get information and knowledge of service
apartment business before makes decision to investment. This project support investor to get the
benefit in investment and profit in doing service apartment. We expect that our project will
provide benefits and interested person. We are thanks to Aj. Chaiyawat Thongintr that provide us
rich full knowledge and consultation for the project. Moreover, if the project has any error or
others, our group make apology for this chance.
3
Executive Summary
The project of a business is a service apartment that tries to enter the market which is
situated in Thonglor in Bangkok. The reason we build service apartment at Thonglor is getting
profit and we believe we can do better than the competitors around there. The point that our
apartment can provide are safety, cleanliness, easy transportation, comfortable decorations,
convenient in using the service and latest technology. The interesting thing we hope for the
future is the time ASEAN opens; we can get more occupancy rates from different guests which
come into the country. Our service apartment is targeting the tourists mostly as around Thonglor,
there already business running with tourists. Our service apartment has 3 types of room. The type
A - for family, Type B&C - tourists who are business man and have no family. The best service
is that if guests request room service from housekeeping or other service like ordering the things,
the guests just need to order or request through online.
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Content
Preface 2
Executive summary 3
Chapter1: Introduction
Background and Signification of the project 8-11 Project Objective 11 Benefit of Project 11 Activities/Time frame 12-13
Chapter2: Industry Profile
Nature of Industry 15-17 Characteristic of Service 17-18 Situation of the industry 18-39 Conclusion 40
Chapter3: Marketing Analysis
Marketing analysis 42 General Environment Analysis
Political Factor 42-43 Economic Factor 43-44 Social and Environment Factor 44 Technology Factor 45
Competitive analysis 45-46 Customer Analysis 46-47 Competitor Analysis 47-54 STP Analysis 55
Geographic Segmentation 55-56 Behavioral Segmentation 57-60 Demographic Segmentation 61-64 Targeting 64-65 Positioning and Differentiation 66-69
Sale Forecast 70-74 Conclusion 75-76
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Chapter4: Investment Cost
Pre-Operating Cost 78 Investment Cost 78-80 Location 80 Facility and Facility 81-84 Machine/Tools/Equipment 85-126 Depreciation 127 Conclusion 128
Chapter5: Production and Operation Analysis
Product Characteristics 130-151
Chapter6: Administration Analysis
Administration and Management Analysis 153 Organization chart 153
Salary 154
Chapter7: Financial Analysis
Profit and Loss Statement 156-161 Income Statement 162 Cash Flow Statement 163-168 Balance Sheet 168-173
Chapter8: Risk Management
Risk Management 175 External Risk 175 Internal Risk 176
Sale decrease by 5% Income Statement 177 Sale decrease by 10% Income Statement 178 Sale decrease by 15% Income Statement 179 Sale increase by 5% Income Statement 180 Sale increase by 10% Income Statement 181 Sale increase by 15% Income Statement 182 Sale decrease by 5% Cash Flow 183 Sale decrease by 10% Cash Flow 184 Sale decrease by 15% Cash Flow 185 Sale increase by 5% Cash Flow 186 Sale increase by 10% Cash Flow 187
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Sale increase by 15% Cash Flow 188
Summary 190
Reference 191
Members 192
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Chapter 1
Introduction
8
Introduction
Backgrounds and Significance of the Project
According to the globalization and world trading brings about the foreign direct investment (FDI) from foreign countries, nowadays, there are a lot of foreign investment and multinational companies so it brings about the flow of people from some place to some place worldwide so those people have to work and stay in their “non-home countries” so these group of people are called “expatriates” or “expat” for short.
Khun Alliwansa Pattanathabut, the Director of Richard Elis (Thailand) mentioned that if the investment from other countries is supported by the government and the stabilities of the world economics and economics of the country and politics can seduce the foreign investors to invest in Thailand.
Fortunately, the forecasting of the SCB Economic Intelligence Center showed that the Foreign Direct Investment from other countries tend to increase especially the FDI from Japan and the value of the FDI would equal to Four Hundred billion baht and the Japanese Investors always choose to invest in ASEAN community and Thailand is the target country that the Japanese Investors interest.
In addition, Thailand is the 8th ranked of the world for FDI so Thailand is still developing to attract the FDI from other countries, the things that make Thailand to be the world rank for FDI are a followings;
1. The strategic location of the country where is able to connect or trade to other countries
such as China, India and ASEAN members so the .
2. Thailand is a hub of AEAN and locates at the crossroad of ASEAN
3. Social and political stability in current time.
4. World-class infrastructure such as 7 international airports, wide range of mass transits, 3G
and Wi-Fi and broadband access.
5. FDI policy that focus on the liberalization and encourage the free trade area Foreign
Investments, and the contribution of the skills development, technology and innovation are
promoted by the government , and the World Bank’s 2012 Eases to access for doing the
business as the 17th of the world and 2nd ranked among ASEAN community .
6. Friendliness, Enrichment of culture and Hospitability of people.
According to the Work Permit Administration, Ministry of Labor, mentioned that the
nations that are allowed to work in Thailand are as following ranks (1) Japanese and followed
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by (2) China (3) Philippines (4) American (5) English and the nations that are allowed to work
in Thailand based on the investment are a following rank (1) Japanese and followed by (2)
China (3) India (4) American (5) Taiwanese.
The number one expat group in Thailand is Japanese expat because there are a lot of the
Japanese Investments and Companies in Thailand especially in “Bangkok” so the incoming of
the expat is very important for the real estate and residence business especially for the serviced
apartment business and the expats don’t have the right on the land ownership in Thailand; then,
this is the silver line of the serviced apartment in Thailand especially in Bangkok. Those expats
always come to work and stay temporarily depends on how long that they have to work in
Thailand and the Japanese expat always rent the serviced apartment rather than buying
condominium.
This picture shows that the number of the Japanese Company are in Bangkok , especially in
Pathumwan, Sathorn, Wattana, Klongtoey districts.
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Moreover, the ASEAN Economics Community (AEC) in coming 2015 , that is the
economics cooperation that brings about the Single Market and Production Base so it means that
there are the free flows of the factors of productions within the community , the investors can
move to invest in any country in ASEAN community easily , it’s so called Free Trade Area
( FTA) , there are a lot of ASEAN investors and Non- ASEAN investors who would like to
invest in this community so it brings about the free flows of skilled labor ; then, the new group of
expatriates are coming so this is a chance of the rental residence business and serviced apartment
for welcoming a new group of expatriates; moreover, the investment from ASEAN country is a
second large of the FDI which is follow the FDI from Japan ( Source: Kasikorn Research Center
and Board of Investment, Thailand).
According to the Prachachart Business Online (2012) mentioned that serviced apartment
in Sukhumvit and Phayathai still be demanded ( demands for serviced apartment ares 89 percents
and 84 percents in this area), the reason that make the demand of this area be stable at high level
because the customers was moving from Chid lom Ploenchit ,Silom and Sathorn and the reason
that make the customers move from those area because the rate of serviced apartment in those
area was increased(Prachachart Business Online, 2012). Moreover, this area was not flooded
because this area was protected from big flooding in 2011.
Thonglor ( Sukhumvit 55) is he area that has colorfulness where has a wide range of
businesses such as condominium , serviced apartment for expatrates, retail shop, office for rent
and entertainment complex. Thonglor is so called the little Tokyo where has a lot of Japanese
people reside in this area, Thonglor is a 2 kilometers road that can connect to any road nearby
such as Sukhumvit 49, 51, 53; moreover, Thonglor is considered as the safety and premium road
in Bangkok so there are a lot of expatriates reside here and Thonglor people have high
purchasing power.
According to the survey of the Sen Thang Set Thi, Thonglor has a lot of infrastructures
throughout the road such as Supermarket and Mall, Hospital, Entertainment Complex, Furniture
Shop , Wedding Studio, Bakery Shop, and Night Life business and there are lots of people
commute throughout he road all day and all night
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According to the information above, we would like to study the feasibility of the
Serviced Apartment or Expatriate on Thonglor Road because this area is the central area of
Bangkok where can get a lot of expatriates to be our customers and this business could be
feasible and get high revenues if our business locates on this road.
Project Objectives
The feasibility study on the Serviced Apartment in Sukhumvit 55 ( Soi Thonglor) all of the
processes of this projects is to collect the data and statistic data from reliable sources . The
project will be done in order to achieve the objective as per following;
1. To study how does this project feasible to invest.
2. To analyze the marketing and marketing strategic planning for this project.
3. To analyze the competitors of the project.
4. To analyze the service operation management for the project.
5. To create and designate the facilities and facilities management within the project
6. To analyze the finance of the project.
Benefits of the project
The benefits that we could get are to learn about how to create the Strategic Planning,
Marketing Planning Financial Planning, Operation and Service Planning and how to make this
project be feasible. Strategy is very important for this project; if the project has a good strategy,
we can plan for maximize the profitability.
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Activities/Time Frame
Table: 1-1: Gantt Chart for the project
Activities
November December January February
1. Topic submission
2. Introduction
submission -
Introduction to
project feasibility
study
3. Study the industry
profile
- Product
Characteristic
4. Analyze the market
feasibility
- Market Analysis
5. Topic presentation
6. Study technical
Feasibility
- Production and
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Operations
- Process of
Management
7. Analyze the
financial of our
business
- Financial
Statements
Generating
- Financial
Statement
Analysis
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Chapter 2
Industry Profile
15
Industry Profile
Na ture of the Industry
Serviced Apartment is a one kind of apartment; normally the target groups are
foreigners and expatriates who earn high income. The length of stay normally is between 1 week
to 1 year (similar to the length of stay of Rental Apartment). Serviced Apartment always provide
the luxurious service to the customers and other kinds of supplementary products such as Fitness
Center, Swimming Pool, Restaurant and Laundry service and Room service and in room kitchen
zone and decorate much larger than hotel rooms and more-home like ( some serviced apartment
is more-hotel liked) . Normally Service Apartment rate is more expensive than other kinds of
normal rental apartment. Basically, service apartments always locate in Central Business District
such as Sukhumvit, Silom, Ratchadamri ,Yen Arkard in Bangkok ( Sources: Institute Of Small
and Medium Enterprises Development Center& Ekamai Garden Serviced Residence).
According to Colliers mentioned that serviced Apartment is graded as per followings; (1)
A Grade (2) B Grade (3) C Grade.
- A Grade Serviced Apartment; Are located in the prime location residential area or
where a lot of high-end residences have. Provide the high quality of facilities similar to
luxury hotel; moreover, the projects are managed by international luxury brands or
managed by the entrepreneurs who have adequate factors of production to invest and
manage such as Anantara Baan Ratchaprasong , Chatrium Suites Bangkok.
- B Grade Serviced Apartment; Normally located in the central business district but in
the less prime locations. Furnished with a high quality like Middle and Upper scale hotel,
always be managed by the entrepreneurs.
- C Grade Serviced Apartment; Located in secondary locations. Furnish in standardized
style but not luxury. Fewer facilities like the economy hotel.
Location of Serviced Apartment in Bangkok
According to the information of Colliers International, serviced apartment locations can be
classified into 6 main areas as per following;
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I. Serviced Apartment in Central Business District (CBD) so the Central Business District is Silom, Sathorn, Si Phraya, Surawong and Saladang, Soi Convent.
II. Central Lumpini Area (CLA) refers to the area along the Rama I road, Wireless Road, Pleonchit, Rajadamri so there are a lot of lucrative serviced apartment and residences around this area such as Anantara Baan Rajaprasong, St. Regis Residence Bangkok.
III. Early Sukhumvit area (ESA) refers to the section of Sukhumvit area between Sukhumvit Soi1 to Sukhumvit Soi 35 for the North and between Sukhumvit Soi 2 to Soi 24 for the South.
IV. Late Sukhumvit Area (LSA) refers to the section between Soi 37to Soi 77 for the North and between Soi 26 to 50 for the South and Thonglor road ( Sukhumvit 55) is in Late Sukhumvit.
V. Southern Fringe Area (SF) refers to the area along the Chao Phraya River on Charoen Krung Road and Naradhivas Rajanagarin Road and Rama III Road.
VI. Other areas cover Phayathai, Petchaburi, Rajadabhisek, Rajadhevi areas.
The Map of Serviced Apartment Zones in Bangkok
Serviced Apartment is the service business which totally relates to service management,
service psychology and service culture. Service Culture is to focus on serving and satisfying the
customers; thus, everyone in lodging business has to have the service culture, range from top
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management to front line staff, so the staff have to fulfill the customers ‘need and meet their
expectations according to the missions of the lodging organization that everyone in the
organization has to know that what is our business?, who are the customers? And what’s the best
value offered? So these questions are the questions that everyone in the lodging organization has
to answer.
Formerly, serviced apartment welcome for the guests who would like to rent the rooms
daily but the Act of Hotel B.E.2547 enforced on 12th May 2005 , Serviced Apartment do not
welcome the daily and weekly guests since the enforcement date. So most of serviced
apartment changed to welcome the monthly customers; however, some serviced apartment still
position themselves as the hotel (SOURCE: Thairath Online 13 th Oct 2010:
http://www.thairath.co.th/content/eco/118576)
Service business is totally different from production business which offers the
intangibility products so the labor-intensity; then, labor and staff is the things and it’s the main
thing that is utilized in order to serve and satisfy the customers ;thus, the service organizations
has to focus on the human resources management ( Sources: University of Thai Commercial
Chamber).
Characteristics of Service
According to Phillip Kotler et al. mentioned that Characteristics can be described in four
main terms as per following;
Intangibility
Alike the physical products, services cannot be seen, tasted, felt, heard or smelled before
they are purchased. Robert Lewis observed that someone who purchases the service may go
away with empty-handed, but they cannot go away with the empty-headed. They have the
memories in their brains to share to each others.
If the customers are going to buy or rent the room at serviced apartment , the customers
do not know what the customers will receive until they take the step in to the serviced apartment
to experience the services from the serviced apartment such as rooms, foods and beverages and
facilities, the customers always seen the tangible evidence that will provide information and
confidence about the service so the exterior of the serviced apartment is the first thing that the
arriving customers see but the condition of the grounds and landscape and overall cleanliness of
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the place so this is the indication that identify the service management within the serviced
apartment.
Inseparability
The customers are the part of the product. An implication of the inseparability, if the
service is that the customers and service providers have to understand the service delivery
systems because they are coproducing of the service.
Variability
Services are produced and consumed simultaneously; there are limits of the service
control. The fluctuating of the service demand makes it difficult to deliver in the peak demand
period. The high degree of contact between the service providers and the guests means that the
consistency depends on the service provider’s skills and the performance of that time of
exchange. The guests can receive the excellent service and mediocre in one day. In the case of
mediocre in service providing, the service person may not have felt well or emotional problems,
lack of communication and heterogeneity of the guests that brings about the service variability.
Variability of lack of consistency is the thing that make the customers upset. When variability is
no longer so it means that we the service delivery process has the consistency, this is the key
thing that leads service business to be success.
Consistency means the customers receives the expected products without unwanted
surprise; for example, in the customers of the serviced apartment require a wake-up call at 7
A.M. so the service provider have to perform it according to the planned service.
Perishability
Services cannot be stored or kept or inventoried; for example, A 100-room serviced
apartment that sells only 60 rooms on a particular night cannot inventor the 40 unused rooms and
then sell 140 rooms on the next day so the revenues from those 40 rooms are lost forever. If the
service businesses are to maximize the revenues, they must manage the capacity and the demand.
Situation of the Industry
We will express the time line of the serviced apartment situation from the 1 st half of 2009
till the 3rd quarter of 2012. (SOURCES: Colliers International Research and Business and
Economics Forecasting Center, the University of Thai Commerce Chamber, Work Permit
Division, Ministry of Labor, Thailand).
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Situation of Serviced Apartment in the 1st half of 2009 and the years before 2009
Due to the financial turbulences and problems affect toward the global economy and the
national political turbulences. There is a lot of the business that was affected by that economic
crisis. The key measures so far have included staff retrenchment and reduction of housing
budgets, which generally change in the demand of the serviced apartment market in Bangkok.
The Historical Supply from 2004 until 1st half of 2009 and the years before 2009
Total supply of serviced apartment was 14,043 units in the first half of 2009 which was
increased by 11.57% from 2008 and the sharp increase was found in the year 2007, representing
the increase of 17.76% from the total supply in 2006. The growth of supply was 13.04% from
2004 until 2009.
2004 2005 2006 2007 2008 2009(1sthalf)
8500 8678 915610782
12587
15499
Figure 3-1: Supply of Serviced Apartment Units from 2004 till first half of 2009
Moreover, in the first half of 2009, lots of A grade serviced apartment opened in
Bangkok (Supply Added) such as in Central Business Area (Silom and Sathorn), Central
Lumpini Area, Sukhumvit Area, Southern Fringe Area. The rest of the serviced apartments in
other areas are B & C grade serviced apartment such as in Phayathai and Phaholyothin,
Petchaburi, Rama 9 Rd.
Supply base on Location
The highest supply base location reveals that the highest amount of supply is in the
Sukhumvit area, with approximately 6,792 units, (48%) and followed by Lumpini area, with
2,182 units (16%) and Central Business District area, with 1,991 units (14%), respectively.
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Sukhumvit
49%
Southern Fringe14%
Other Areas9%
Central Bus Area14%
Central Lumpini14%
Supply of Serviced Apartment based on Lo-
cation
Figure 4-1: The Supply of Serviced Apartment by Location Supplied.
Supply of Serviced Apartment based on Grade of Service
As mentioned in the first chapter that the serviced apartments can be classified into 3 grades, (1).
A grade serviced apartment (2). B grade serviced apartment (3). C grade serviced apartment so
the grades of serviced apartment can determine the market share of the serviced apartment. The
market share of serviced for targeting expatriates can be categorized into A Grade (8,908 Units)
and B Grade (5,135 units).
Figure 5-1: The Supply of Serviced Apartment by Grade of Service
B Grade; 8,908
A Grade; 5,135
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Demands of Serviced Apartment
The demands for serviced apartment were normally from the expatriates who relocated
Thailand. Typical length of stay was range from one to three months, as the expatriates required
that time to select the permanent residence such as apartment,single house or town house to stay,
The demand for serviced apartments market could be categorized into two major groups; short-
stay tourists and business travelers (short-stay market) and there was the new expatriates arrivals
to Bangkok (long stay market). Some of the expatiates who would have formerly stayed in the
hotels had shifted to serviced apartment because serviced apartment offered the wide range of
service with quality facilities but were offered with reasonable prices in comparing with five-
stars hotel. The regressions of the economics brought about the prices concerns among the guests
who were seeking the lower-priced accommodation.
Number of New Expatriates in Bangkok
The office of foreign workers administration ( Work Permit),Department of Employment
revealed that Bangkok had lowest number of new expatriates in 2005 , with 1,872 persons
because the regressions of the economics which were caused by the increasing of the factors of
production , inflations and tsunami disaster; moreover, the slumps of the economics brought
about the decreasing of the expatriates in Bangkok because most of the companies implemented
the reorganization and retrenchment strategy and cash flow management brought about the
decreasing of the expatriates in Bangkok.
2004 2005 2006 2007 2008
7,478
1,872
4,589 4,557
10,401
Number of New ExpatriatesNumber of New Expatriates
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The Number of Tourists at Suvarnabhumi Airport in the year 2009
The short-stay demands for serviced apartments are from business travelers and leisure
tourists. According to the tourism department revealed that the number of international tourists
arrivals at Suvarnabhumi Airport during the first half of 2009 was 4,434,518 persons, it was
decreased by 26.8% from 5,623,119 persons in the first half of 2008.
From the breakdown of international travelers at Suvarnabhumi Airport, travelers from
East Asia (China, Japan) , South Asia ( India), Asean ( Malaysia, Singapore), Europe ( Germany,
UK, France), USA, Australia and Middle East was a majority of inbound travelers to Thailand.
Europe22% Scadinavia
4%America
8%Ocenia
7%Others4%Asean
16%
East Asia33%
South Asia5%
International Tourists Arrivals at Suvarnabhumi Airport based on Region
Sukhumvit has the highest number of A Grade serviced apartments, with 1,801 units, and
followed by central Lumpini , with 1,770 units and Central Business District, with 995 units
while B Grade serviced apartment are condensed in Sukhumvit area with 4,982 units, followed
by Southern Fringe Units and other areas as shown in the figure below.
Central Bus. District
Central Lumpini
Sukhumvit South. Fringe Other0
100020003000400050006000
9951770 1810
5600
996412
4982
1313 1205
A Grade B Grade
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The figure shows that in the Central Lumpini area has a lot of A Grade serviced
apartments; however, Sukhumvit has the most condense of serviced apartment in this area in
both A grade or B grade.
Occupancy and Rental Rates
Both Grades Occupancy rates of all serviced apartments in Bangkok was increased by
5.9% in comparing between the year 2004 and 2005 ( from 83.92% to 88.87%) but was declined
each year from 2006 to 2008
2004 2005 2006 2007 20080.00%
10.00%20.00%30.00%40.00%50.00%60.00%70.00%80.00%90.00%
100.00%
83.92% 88.87% 87.35%80.48%
71.40%
Occupancy Rate
Occupancy Rate
Figure: The average occupancy rates from the year 2004 till 2008
Grade A and B Occupancy Rates
The average for A Grade serviced apartments in Bangkok increased between 2004 and
2005 by 7.37% (from 81.87% to 87.90%) , but declined each year from 2006 to 2008. See the
difference of A grade and B grade rental rate below. The graph shows that occupancy rate for B
Grade was highest in the year 2007.
24
The
Situation of the industry of the year 2009-2010
Historical Supply based on year
For the first half of 2010 only around 20 serviced apartment units were added, and then
around 180 units were supplied in Q3 2010, but approximately 340 units were added in Q4 of
2010. Supply was in four locations, Central Lumpini, Early Sukhumvit, Late Sukhumvit and
Other areas. Total supply of serviced apartment units as of 2010 was approximately 16,300 in
around 125 apartments.
2004 2005 2006 2007 2008
81.87%
87.90% 86.06% 83.48%78.38%
85.44% 86.26%82.31%
91.92%
76.69%
A Grade B Grade
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Since 1995 and up until now, Early Sukhumvit area has been by far the most popular for
serviced apartments. Although no mass transit system existed until the end of 1999, the appeal to
western and Japanese expatriates meant that this area was the bulwark of the sector. Other areas
have also grown but on a lower trajectory. In the past few years the Late Sukhumvit area has
become a new prime location especially due to the rise of Thong Lor as a fashionable area to
reside.
Overall Sukhumvit road and its vibrant sois contain over half of all serviced apartment
units in Bangkok with nearly 40% of total supply being located in Early Sukhumvit area. The
mix of good transport links, entertainment, and retail and office facilities creates a strong lure for
people to stay in Sukhumvit.
26
Nearly half of total supply is in the grade B category in Bangkok.
The distribution of serviced apartments differs according to location based on the
particular profile of each area. Central Lumpini contains many large embassies and is therefore
seen as being the most prestigious location to live and as such contains more grade Aunits. Late
Sukhumvit also contains more grade A units due to the location containing a number of luxury
branded apartments in Thong Lor road catering to the large Japanese community there. Early
Sukhumvit is the king of grade B apartments as it is a more unpretentious, relaxed location
which also explains the location of more Upper Scale rather than Luxury hotels. The ‘Other’
areas contain more grade C products due to the distance from the centre.
27
Average occupancy rates in Q2 tumbled due to the April and May protests. This is mainly
a result of short term guests cancelling but also many longer term stays, especially Japanese,
leaving Thailand to escape from the perceived danger. While occupancy rates soared back in Q3
2010 they have since lost their momentum and have even fallen back in the case of grade
Aapartments. The holiday season should be a strong period for the serviced apartment market
due to the number of tourists. However this has not been translated into increased occupancy.
Higher spending tourists are choosing to avoid the city due to the myriad of problems the city
has in attracting this crucial demand segment.
28
In all locations occupancy fell during Q2 2010 but were more pronounced in some areas
than others depending on the proximity to the protest area. Therefore Central CBDand Central
Lumpini suffered the most. In both these areas occupancy has since picked up especially in the
Central CBDbut Central Lumpini still remains quite depressed and is far behind the numbers
recorded in Q1 2010. The protests may have dented the kudos of staying in this area. However
the situation is bright for the Late Sukhumvit area which can boast the best occupancy rates
throughout the year. The area is becoming increasingly fashionable, especially Thong Lor with
easy access to the BTS and now the Airport Link; but far away from perceived trouble.
29
Expatriates represent the primary source of demand for the serviced apartment medium
and long stay market. The global economic crisis affected expat numbers in Bangkok
significantly in 2009, reducing the number by around 15,000. The number of expatriates in
Bangkok in Q1 2010 decreased very slightly from last year, but in Q2 2010 dropped more than
10,000, due to the political problems in the centre of Bangkok. However in Q3 – Q4 2010 there
was an increase but the total number is still similar to 2009 and below 2008 prior to the Global
Financial Crisis or Hamburger Crisis.
30
After the protests in Q2 work permits issued picked up in Q3 - Q4 of 2010 which
indicates a more positive trend going forward combined with global economic recovery.
Proportion of Expatriates in Bangkok in the 4st Quarter of 2010
The Japanese still represent the largest group of expatriates in Bangkok and are also the
main target group for serviced apartments with most of them staying along Sukhumvit road.
Other nationalities are often in the lower pay bracket and the rental rates of serviced apartments
would be beyond reach.
Rental Rates
31
The protests at Rajprasong intersection directly impacted the occupancy rate and rental
rate in Q2 2010. The average rental rate in Central Lumpini area decreased by nearly 20% in Q2
and has remained at these lower levels. In fact the area has gone from second to fourth in terms
of rates over the course of the year. In the Q4 2010 average rental rate in Central CBD increased
approximately 7.4% from Q 2 and Q3while other areas remain similar to Q3.
Rental rate of grade A and B by room type, Q4 2010
The average rental rate of grade A unit are greater than grade B by approximately 1.7 –
12.7% depending on room type.
Situation of the industry during 2010 till 2011
Approximately 470 units were completed in 2011 which was less than last year’s total of
more than 600 units and the lowest in the past two years. The total supply of serviced apartment
units at the end of 2011 was approximately 17,300.
Additional Supply based on Quarter
Additional supply in Q4 was approximately 280 units bringing the total new supply in
2011 while the supply of the 3rd quarter in 2011 was around 100 units. More than 300 units were
32
located in Early Sukhumvit area or approximately 65% of the total units completed in 2011. This
is mainly due to the location being very convenient for expatriates who rely on using the Sky
Train. In addition, many office buildings as well as shopping malls and supermarkets are easily
accessed from this location by Sky Train.
The Supply based on the location
The prime area or serviced apartment are Central Business District, Central Lumpini
Area while the late Sukhumvit the prime area is Sukhumvit 55 or Thong Lor Road where has an
good infrastructures and entertainment complex and good transportation links such as Sky Train,
Airport Link but the main area where has a lot of serviced apartment is Early Sukhumvit Area
which has 40% of the market.
40%
18%
13%
29%
Serviced Apartment based on Location
Early SukhumvitCentral Lumpini AreaCentra Business DistrictOther Central Business Zone
If we focus on the 29% of the other Central Business Zone so the Late Sukhumvit Area is the main area that has 12% of serviced apartment while the southern fringe has only 6%
41%
38%
21%
Central Business Zone
Late Sukhumvit ZoneSouthern FringeOther Area
33
The Historical Occupancy Rates based on the quarter
The occupancy rates in Q1 – Q3 2011 of both grades were similar and increased around 11% for Grade A serviced apartments in Q4 while only 0.5% for Grade B.
Due to the floods in Bangkok, displaced residents were forced to stay temporarily in serviced apartments for the last two months of 2011.
Another factor is that many serviced apartment buildings reduced their rental rates in the last quarter of 2011 due to intense competition for residents between themselves, the hotel sector and the high-end apartments.
34
The Occupancy Rates based on the Area
All of the serviced apartment zones was not flooded at all so a lot of flood victims
evacuated to stay in serviced apartments in Bangkok because of the conveniences and good of
transportation commuting in Bangkok so the Late Sukhumvit Area has highest Occupancy rates
when compare with other areas ( See the figure in the last page).
The number of the expatriates in Bangkok
Although, there was flooding in Thailand so there are a lot of foreign investors, especially
the Japanese investors who was severe affected by the flooding but the number of the expatriates
still high and the number of the Japanese still at 8%, If we take a look at the 2nd quarter in 2010
there was the red shirt attack during the 2nd Q so there was a little number of expatriates in
Bangkok.
The Japanese people still are the main nation that resides in Thailand during the 4st
Quarter of the 2011.
35
Bangkok Serviced Apartment Market, Q3 2012
Historical Supply, Q3 2012
Approximately 420 units were completed in the first three quarters of 2012, and nearly
156 units are scheduled to complete by the end of the year. The total supply of serviced
apartment units at the end of 2012 is expected to be around 18,259 units. GM Serviced
Apartment, on Sukhumvit Soi 20, was completed in September 2012, with a total of 89 units
ready to rent.
Supply by location, Q3 2012
More than 50% of the serviced apartment supply in Bangkok is located along Sukhumvit
Road in the early and late Sukhumvit areas. The total supply in the early Sukhumvit area has
been more than in other locations for the past 20 years.
36
Historical occupancy rate by grade, 2010 toQ3 2012 by quarter
The average occupancy rates in Q3 2012 for Grade Aand B serviced apartments
increased slightly from the previous quarter. However, the average occupancy rates in the second
and third quarters were still lower than in the first quarter of this year.
Occupancy rates by location, 2011 toQ3 2012 by quarter
The average occupancy rates in Q3 2012 for Grade Aand B serviced apartments
increased slightly from the previous quarter. However, the average occupancy rates in the second
and third quarters were still lower than in the first quarter of this year. The average occupancy
rate in the third quarter in all locations was up slightly from the previous quarter, except in late
37
Sukhumvit and other areas which decreased slightly. Serviced apartment projects are trying to
retain their current clients for long periods by renewing contracts before the expiration dates at
the current rate. However, the Late Sukhumvit Area is the most popular for the customers of
serviced apartment.
Number of expatriates in Bangkok, Q3 2012
The number of expatriates in Bangkok continues to rise. The EU debt crisis is still a
major concern for investors and affects the entire global economy. However, Asia has shown it
has potential for investment, especially in the ASEAN region. Bangkok is highly attractive for
investors who wish to take a first investment step into ASEAN, especially the sub-region of
Myanmar, Laos and Cambodia. As a result, several international companies are looking for
regional office space in Bangkok. There is also good potential for serviced apartments. The total
number of expatriates in Bangkok in Q3 2012 was approximately 61,190.
Rental Rate
38
Rental rate for one-bedroom units by location, 2011 toQ3 2012 by quarter
Rental rates in Q3 2012 were similar to the previous quarter. Only the Central CBD and
early Sukhumvit areas saw rates fall by around 5% compared to Q2, although the Central CBD
still commands the highest rental rates.
Average rental rate by grade, 2011 to3Q 2012 by quarter
The average rental rate of Grade Aand B serviced apartments increased slightly from the
previous quarter, and the rental rates for Grade A serviced apartments are still higher than for
Grade B by more than 45%.
General Products and Services of Serviced Apartment
39
Serviced Apartment is a part of service business normally provide the Tangible Products
and Intangible Products, Intangible Products means the things that can’t be touched or smelled so
this case refers to service providing from service providers, the service providers that be able to
make the customers e pleasure at all times when they stay with us so it relates to emotional
factors so the service providers have to understand the customer’s needs.
Understanding intangible Products
Physiological Needs
This type of need is an basic needs of the people comprises with Air, Water or Residence,
if someone deprives from some need, they will find out it for satisfying themselves. If the human
lack of it, the human body cannot function properly, and will ultimately fail. Physiological needs
are thought to be the most important; they should be met first.
Safety and Security Needs
Humans want to be away from the threats so they might need the of Physical and
Emotional crime such as living in the safety residence and have the security guards to take care
of the customers’ needs.
Love and Belonging Needs
40
It so called the social needs, all of the human need friends and the one who love, the
people want to be accepted by any other people and become important or valued persons.
Self-Esteem
Esteem may be classified into internal and external esteem such as self respect and self
achievement and external esteem is an social status, recognition and reputations.
Self- Actualization
It means the self peak experience that the humans want to have than lower needs of the
people such as Truth, Justice, and Wisdom. On the other hand it refers to “Born to be” or ‘Born
to do”
Understanding intangible Products
The tangible products that the upper scale serviced apartment provides the wide range of
facilities and amenities such as
-1. Ipod docking station
2. Microwave Oven
3. Mini-bar with sink
4. Coffee and Tea making Failities
5. International Adapter in Every room
6. Bath Tub with separated room shower and hairdryers
7. Turndown Services
8. Internet access throughout the building and Video Conference in every room
Rooms Type can be classified as
1. Single Room
2. Twin Room
3. Hollywood Twin
4. Double Rom
5. Triple Room
6. Suite
Conclusion
41
Nowadays, serviced apartment businesses are compete together dramatically with both
direct competitors and indirect competitors (substituted products such as condominium) so the
last year (2011) the growth of the occupancy rates was slightly increase because some of the
investors was still suffered with the economic crisis (Hamburger crisis and Subprime crisis) and
the occupancy rates was at 85% ( especially at the Late Sukhumvit Area).
Moreover, the political crisis at the Central Business District and The Central Lumpini
Area at the Q,2 of 2010 brought about the decreasing of the expatriates in Bangkok and the
occupancy rates was decreased dramatically ; however, there was the silver line for the serviced
apartments in the Late Sukhumvit Area especially in the Thonglor road where is the new zone of
fashions and entertainment so the demand for the serviced apartment was shifted from the
Central Business Districts , Central Lumpini Area, Early Sukhumit( Has the most percentages of
supply side by serviced apartment ) to Late Sukhumvit area so the occupancy rates of all grades
of serviced apartment up to 80% until current time and most of the serviced apartment zones
were not flooded; then , this was the silver line for serviced apartments because most of the flood
victims choose to stay at serviced apartment in the year 2011.
Fortunately, the ASEAN Community will be opened in coming 2015 so the silver line
for serviced apartment because the market group of serviced apartment will be expanded
especially the foreign business persons from the investor groups (expatriates)
So we choose to build the serviced apartment for expats on the Main Thonglor road
where is the most important and prime area of the Bangkok
42
Chapter 3
Marketing
Feasibility
Study
43
Marketing Feasibility Study
Marketing Analysis
According to the last chapter the normal customer of the serviced apartment are the
expatriates who live and work in Bangkok so if the there are a lot of the investment from foreign
company, the number of expat would be increased. Bangkok is the big market for this kind of
business because there are a lot of international firms office locates in Bangkok, if there are a lot
of investments from other countries, it could bring about the increasing of the Occupancy Rates
of serried apartment.
General Environment Scanning is the strategic planning which is very important for all
kinds of business and investment selection and operation management. This is the first step for
business running because we are able to identify the threats and opportunities of the business
which come from outside or external of the business so opportunities are an advantage for the
business while threats are the disadvantage for the business.
Nowadays, Serviced Apartment should implement the General Environment Scanning for
our business running in order to know the external threats and opportunities of the business so
General Environment Scanning is comprised with four factors as followings; (1) Political Factors
(2).Economics Factors (3).Social and Environmental Factors (4). Technological Factors.
General Environment Analysis
Political Factors
According to the Government Housing Bank Journal mentioned that political problems are
the critical problems that affect directly to hotel and serviced apartment because some of the
political occurrences can affect to the decisions of the investors from foreign countries. If any of
the political problem happens, it may bring about the bad attitude amongst the foreign investors
then the serviced apartment and hotel business and condominium business could be affected
because all of these business rely on the foreign business customers mainly but Thai politics are
more stable than ever so this case can attract the investors invest in Thailand
44
In addition ,the investment policy from the foreign direct investors (FDI) that are supported
by the government organization such as Board of Investment which facilitates foreign investors
and ability to invite the investors from foreign countries to invest their capital and company in
Thailand.
Economic Factors
According to the Kasikorn Research Center (2012) mentioned that the main economic
opportunities are the coming AEC (ASEAN Economic Community) which is the community that
require the free flow of the production factors and Thai people can work or invest in other
ASEAN countries and another “Aseaner” from other ASEAN countries can invest and work in
Thailand, this case brings about the advantage to the serviced apartment business so the benefit
of ASEAN Economic Community are as followings:
1. ASEAN Framework Agreement on Service which requires all of the ASEAN countries
must open the Free Service Agreement and include the real estate business but for
Thailand can use CPC 82101 and CPC 82201. (1) Renting or leasing services involving
own or leased residential property (CPC 82101). (2) Residential property management
services on a fee or contract basis (CPC 82201). by the way “ the foreign shareholders
must not hold the shares more than 49 percents and number of foreign shareholder must
less than Thai people” so these could be the opportunities for entrepreneurs for
expanding the market especially the business persons or investors from other ASEAN
countries who want to relocate the factors of production to invest the business in
Thailand ;then most of the Serviced Apartment entrepreneurs would get the agency to
promote their Serviced Apartment to other Aseaners from other ASEAN countries.
2. Free Flow of Skilled Labor which requires to flow the skilled labors within the
communities , those labors are as followings ; dentistry, medicine, nursing, accountancy
services, engineering and architecture. Although the skilled labor that are flowed from
other ASEAN countries could can work and invest freely but they don’t have the right
to buy the land so they need the rental lodging then the demand for serviced apartment
could be increased.
45
Thus, AEC is an advantage of the business doing for economic purpose which brings about
the Free Trade Agreement Area within the community; moreover, there are a lot of non ASEAN
investors that are interested to invest in Thailand in order to use Thailand as a hub for setting the
plant or distribution center to distribute the goods or product to other ASEAN countries so in the
near future there are a lot of foreigners come to Thailand so this is an advantage for serviced
apartment business.
According to the Government Housing Bank and Kasikorn Research Center mentioned that
EU debt crisis which is the big problem that affects to many economy systems in many economic
regions in the world and brings about the drop down of the “World GDP in 2012” so the EU debt
crisis affects to Thai economy as well so the investors from EU countries couldn’t come to invest
in Thailand too much or gain the investment back to their countries during this moment so this is
an threats that the entrepreneurs of serviced apartment should concern.
Although the EU debt brings about the regression of the economic but for Thailand it does
not affect to Thailand directly because the first 6 months of the year 2012 the number of the
European tourists increased when compare with the last year ( Government Housing Bank
Journal).
Social and Environmental Factors
According to the big flooding in Thailand last year that destroy or damage the town so
the new trend of the residence should be sky scrap which is the best choice for the customers
who want to avoid the threats from flooding; moreover, the area around Sukhumvit and
Phayathai are very popular because these area are not affected by flooding situation (ประชาชาติ�
ธุรกิ�จ)
Moreover, the natural disasters in some particular area can bring about the occupancy
rates as the big flooding in 2011 there was bringing about the increasing of the Occupancy Rates
of A Grade serviced apartments in each area and some social occurrences such as the red shirt
attack in 2010 brought about the demand of the serviced apartment.
46
Technological Factors
According to Dr. Potjanee Muangsillapasart mentioned that business and lodging business
should be required to use the Property Management Systems for storing the data or database and
data mining or managing the wide range of room rates and facilitate the customers which are use
in the Front Office and Back Office serviced apartment is a kind of lodging business so Property
Management System should be conducted in order to facilitate the customers and business
running
Moreover, the impact of the Internet and E-Commerce Marketplace toward hospitality and
lodging business by setting up the own website or join the marketing website. Today, there are a
lot of lodging businesses and serviced apartments have invested in e-commerce and information
technology to variety of degree. These investments included in-room, high-speed internet online
direct booking website.
Nowadays, there are a lot of e-hotels, offering services, including high-peed internet
access , video on demand system, limited videoconferencing in al rooms, wireless access
throughout the building; internet kiosk for the customers.
And the impact of 3G that provide the anywhere and anytime for service offering some of
the lodging sections apply the opportunity of 3G such as St. Regis Hotel and Residence apply the
e- butler service or their in-house guests.
Competitive Analysis
Competitive Analysis
Since the year 2010 the demand for serviced apartment has shifted from Early Sukhumvit
and Central Lumpini Area and other business zones to Late Sukhumvit Area especially Thonglor
Road or Sukhumvit 55 so Thonglor is new darling for serviced apartment especially in A Grade.
Thonglor Area share the markets from the Central Lumpini Area where has a tot of embassies
and high-end serviced apartment condominium while the Early Sukhumvit Area has a tot of B
Grade Serviced apartment and high number of the serviced apartment business when compare
with other areas in Bangkok (The Early Sukhumvit has 40% of all serviced apartments in a
whole Bangkok) while Late Suhumvit has only 12% of the portion of the serviced apartment in a
whole Bangkok.
47
Unfortunately, the Occupancy Rates of the serviced apartment in Early Sukhumvit area has
dropped down while the Occupancy Rates of the serviced apartment in Late Sukhumvit has over
80% in all grades of the serviced apartments in those areas and the markets of serviced apartment
in Late Sukhumvit especially Thonglor Area ( Sukhumvit 55) would have a chance to growth
from now on. However, the rival competitors of serviced apartment are not the rival serviced
apartment but also the condominiums or leased residents are the competitors of the serviced
apartment; however, we can compete with the lease condominium by our services because the
customer who rent the lease condominium they cant get the services or assistances from the
condominium people so they have to contact the owner of the condominium rooms.
Moreover, any rival competitors always renew the contract for their existing customers so
we have to find out the market gap for attract the new customers; however, the politics and
economics of Thailand in current time is more stable than ever, there are a lot of new
investments from foreign countries invest their capital and companies in Thailand and some of
their investment is in the development process and especially , ASEAN community will be
opened in coming 2014 that could bring about the incoming of the expatriates in Thailand and
Bangkok and moreover, the Japanese people always rent the serviced apartment rather than
buying the lease apartment. The serviced apartment business today have to compete with direct
and indirect competitors ( GHB Journal and Colliers international and KSMEcare) however,
there are the organization that act as the intermediaries or agency to contact between serviced
apartments itself and potential customers.
Customers Analysis
Normally, the customers’ analysis is the analysis of the potential customers of the
serviced apartment by answering all of the questions as per following;
Who are the customers?
The Expatriates who reside in Thailand.
What are objects that the customers want? The place to reside
48
Why the customers come to stay at the
apartment?
- Locate in a good/prime location.
- Good environment around the premise
- Able to access the transportation system
- Adequate and Good Facilities
- Good Safety Systems
When the customers rent the serviced
apartment?
When they relocate to work in Thailand
( When they become the expatriates)
Where the customers can contact?
- The Website
- Agency Website
- Walk-in to contact
- Social Networks
Who is the decision maker?
- The Customer themselves
- The Customers Friends or Siblings who
force the customers to choose the place
to stay.
How do the customers stay?
- Good marketing and promotion
planning.
(Sources: Institute of Small and Medium Enterprises Development and Chavalak Phumphukhieo;
The thesis on Apartment Rental Decision Process of High Class Foreign Customers Based on
Bangkok Transit System in Sukhumvit Line)
Competitor Analysis
In Thonglor road and late Sukhumvit area there are a lot of serviced apartments for
expatriates so they target at various markets of the customers so these are the lists and the
characteristics of the competitors who offer the same products and same rates.
49
The Oakwood Residence Sukhumvit Thonglor
The Products that they offers are Free WiFi, Restaurant, Safety Box, Elevator ,Kids, Room
Services, Receptionist, Fitness Center, Meeting Room, Outdoor Swimming Pool, Car Parking
Service, Parking lot, Laundry Services, Pets are allowed with 67 units(rooms)
The Location of the Oakwood Residence is in Soi Thonglor 13, Khlongton Nua, Wattana
District in the narrow sub-soi in Thonglor.
The review from Tripadvisor.com, most of the customers are the business customers and
most of them satisfy with this and consider it as an excellent residence.
The room rates and room type can be classified as per followings
Type Size (sqm) 4-6 Monthly 6-12Monthly Units
Studio Deluxe 46 66,000 B. 57,000 B. 7
Studio Excutive 53 72,000 B. 63,000 B. 5
1 Bedroom Superior 82 78,000 B. 69,000 B. 5
1 Bedroom Deluxe 76 84,000 B. 75,000 B. 14
1 Bedroom Excutive 88 90,000 B. 81,000 B. 6
2 Bedroom Deluxe 117 123,000 B. 108,000 B. 14
2 Bedroom Excutive 134 135,000 B. 120,000 B. 9
3 Bedroom Deluxe 160 156,000 B. 138,000 B. 1
3 Bedroom Excutive 183 174,000 B. 153,000 B. 6
Source: Kobayashi serviced Apartment agency
Somerset Sukhumvit Thonglor Bangkok
50
Somerset is an serviced residence under the umbrella of the Ascot Limited who provide the
serviced residence properties management under the name Somerset Residence and Citadines
worldwide in Thailand there are 9 properties of Ascot Limited as per following(1) Somerset
Lakepoint (2) Somerset Park Suanplu (3) Somerset Sukhumvit Thonglor (3) Asott Sathorn
Bangkok (4) Citadines Sukhumvit 11 (5) Citadines Sukhumvit 16 (6) Citadines Sukhumvit 23
(7). Citadines Sukhumvit 8 Bangkok (9) Vic3 Bangkok so the main competitor for this brand is
Somerset Sukhumvit Thonglor
The Location of Somerset Thonglor is located in Soi Thonglor 5 where is the narrow sub-
soi but near the main Thonglor road.
The products that the Somerset offers are the WiFi , Safety box , Bar and Pub, Smoking
Zone , Elevator, Kids Club, Meeting Room, Business Center, Bar Pool , Room Service, Laundry,
Family Rooms, Kid Clubs, Swimming Pool for Kids, Steamed Room, Sauna, Jacuzzi, Fitness
Center,
The Somerset Sukhumvit Thonglor provides 262 rooms (units)
Room Types Rates for Month
Studio Deluxe 85,000
Studio Room 90,000
Studio Premier 96,000
1Bedroom Executive 120,000
2 Bedroom Executive 190,000
Information from Kobayashi Company
51
According to the customer reviews from Agoda.com and Tripadvisors.com, most of the
customers satisfy with the Somerset Tangible products but some of the customers are not satisfy
with the foods and drinks and some of amenities.
Centre Point Sukhumvit Thonglor
Centre Point Sukhumvit Thonglor is under the umbrella of Centre point Hospitality which
manage the various properties in Bangkok such as Centre Point Petchaburi, Centre Point
Sukhumvit, Centre Point Silom , Centre Point Langsuan, Centre Point Saadang, Centre Point
Wireless road, Centre Point Sukhumvit Thonglor , Grande Centre Point Ratchdamri, Grande
Center Point Hotel and Residence- Terminal 21
The products that the Centre Point Sukhumvit Thonglor provides are the Restaurant, Salon,
Fitness Center, Elevator, Laundry Services, Rooms Services, Business Center, Meeting facilities,
Shuttle Services, WiFi, Fitness Center, Jacuzzi, Swimming pool, Garden, Kids Club , Daily Maid
Services.. The Centre Point Sukhumvit Thonglor is located on the Main Thonglor Road
The Centre Point Thonglor has 156 units (rooms) and the room rates and rooms type that
the Centre Point provides are
Type Size (sqm) 1-3 Month 4-12 Month Units
Studio 38 52,000 B. 48,000 B. 19
1 Bedroom 68 78,000 B. 72,000 B. 19
1 Bedroom 80-87 80,000 B. 76,000 B. 80
2 Bedroom 131 130,000 B. 120,000 B. 19
Executive2 Bedroom
142 140,000 B. 130,000 B. 19
Capital residence
52
The capital residence is an Apartment for Foreigner where provides 74 units(rooms) with
24 floors , they provide Microwave, Electric stove, Exhaust hood, Dishwahers, Ovens,
Television, Refrigerator, washing machine, Swimming Pool, Gym , Sauna Kids Club, Tuk Tuk
service with 24 Hrs safety policy.
This apartment is next to the Camilian Hospital it’s decorated with modern style and has the
separated area for the bathroom. The room rates for Capital Residence are as per following;
Type Size (sqm) Monthly Units
1 bedroom 58 40-45,000 B. 14
2 bedrooms 93 65-75,000 B. 14
3 bedrooms 156-168 85-95,000 B. 41
4+1 bedrooms 318 150-160,000 B. 5
Pan Pacific Serviced Suite
The Pan Pacific is an premium serviced suites and hospitality brand worldwide in which
provide the excellent services with a wide range of rooms ; moreover, the facilities provided for
the customers as per following; bar and pub, family room, restaurant , smoking area, airport
transfer, coffee shop, elevator, laundry service, room service, shops, baby sitting, Business
Center, Concierge, Executive Floor, Meeting Facilities, Poolside Bar, Safety Boxes, WiFi,
Fitness, Massage Service, Jacuzzi, Outdoor Pool, Sauna, Steamroom, Kids Club, Spa, Free LAN
Access but has no in room kitchen. The Pan Pacific Thonglor provide the services same as 5star
hotel on the other hand, the Pan Pacific Thonglor is a substitute products or Five Star hotels in
Bangkok.
53
Type Size (sqm) Monthly Units
Studio 37 69,000 36
1 Bedroom
61 77-87,000 67
2 Bedrooms
118-180 118-180,000 42
3 Bedrooms
154 188,000 3
Grass Suites Thonglor
The Grass serviced suite is a small serviced suited in Thonglor where provides 46 rooms
with three room types, the grass is decorated with the green grass surrounded.
The Grass is a boutique serviced suites does not provide the in room kitchen and jus provide
only Studio room and one-bedroom type. The Grass also provides Pub and Bar, Restaurant, Wi-
Fi, Lan Services, Salon, Fitnes Center, Coffee shop, Elevator, Laundry Service, Meeting
Facilities, Safety Box, WiFi, Car Parking, Valet Parking .The Grass Thonglor locates on the
main Thonglor Road.
However, the customers of the grass don’t satisfy with this apartment too much (review
from Tripadvisor and Agoda.com).
Type Size (sqm) Monthly
Studio 30 33-37,000 B.
1 Bedroom 58 48,000 B.
1 Bedroom Deluxe 65 52,000 B.
54
Ekkamai Garden Serviced and Residence
Ekkamai Garden is an apartment that provides for the executive and their families, the
Ekkamai Garden is operated by the Colliers International who seeks a harmonious balance
between work and life family. The room rates are as per following;
Type Size (sqm) Monthly
1 Bedroom 100 55,000 B.
3 Bedroom 160-240 75,900-91,000 B.
3+Garden 240+64 101,000 B.
3+1 250 96,000 B.
3+1 Garden 250+64 103,000 B.
4 Bedroom 280 100,000 B.
4+1 Garden 290+170 140,000 B.
The Ascent Condominium (Indirect Competitor)
As we have mentioned that the substitute product of serviced apartment is a condominium.
Ascent Condominium, Ekkamai-Thonglor , this is he low rise condominium which
comprises with 90 units(rooms) ,located on the 1 rai and the minimum price is 2.39 million
baht , the facilities that they offer are the (1). Swimming pool ( 7 meters times 1.2 meters) ,
Fitness Center ( 28 sq.m with 5 facilities), two elevators, parking lot at G floor and B1 floor and
CCTV/Access Card., the target group of the Asent is the people who has the modern lifestyle
However, there are a lot of units for this condominium within 8 floor low rise building, the
room is very crowded and the location of this condominium is located in the slum and the traffic
55
jam area and has a lot of schools and locates next to the contaminated canal (Source:
ThinkOfLiving.com)
Location of the Ascent Thonglor
The Property of the Ascent Thonglor
Segmentation Targeting and Positioning Analysis
Segmentation, Targeting and positioning or so-called STP analysis is a kind of the
marketing strategy
56
According to Philip Kotler and Gary Amstrong mentioned that the form of segmentation
variables can be classified into 4 types as per following in the circle graph.
Geographic
BehaviorDemographic
Psychographic
Segmentation Variables
Geographic Segmentation
According to the iHotel Marketer.com mentioned that, the market segmentation based on
the Geographic Variables or so-called the Geographic Segmentation so the geographic
segmentation are the classifications of market in terms of country, region, state, province,
municipals.
Each of the group of people in different geographic area has different characteristics and
behaviors so the sum of serviced apartment always uses the criteria of the geographic
segmentation.
According to the GHB journal and Colliers international mentioned that serviced apartment
always target at the Japanese Market because the Japanese is the main group of expatriates in
Bangkok and Thonglor so some of the apartment in Thonglor always target at 100% at Japanese
customers such as the Grass Thonglor.
57
Number of Expat becomes increase
(Source: Colliers international)
Behavioral Segmentation
58
The Customer Behaviors in Thonglor
According to the Marketeer Magazine mentioned that the behavior of the consumers in
Thonglor Road are the people who has a modern lifestyle and has high income and willing to
live in the downtown so the products offered that they need the things that different from other
products in the market so the behavior of the consumers in Thonglor are as followings; (1)
Thonglor has the Thai and Expatriate and Tourist Consumers. (2) The consumers in Thonglor
have high purchasing power (3) Well managed in financial and choose the best choice for their
lifestyle.(4) The number in Thonglor are the people who always seek the information for new
place for hanging out (5) They have the different lifestyle (6) They are the “trend setting” (7)
Brand Image is the things that the consumers of the Thonglor concern to. According to the Sen
Thang Set Thi mentioned that the consumers in Thonglor don’t concern about price so they need
the qualified products. (8) There are a lot of Generations of people range from Baby Boomer to
Gen M.
Japanese Customer Behavior
According to GHB journal mentioned that the Japanese customers always choose to stay in
serviced apartment rather than buy the leased condominium
More ever, Asst. Prof. Dr. Krissatika Kongsomphong mentioned that the way to break the
ice of culture in order to market for deliver the products and services to Japanese market but
Japanese people are the nationalism people so it’s too complicate to market or this group;
however, Japanese people are the one who have high purchasing power and their tastes to buy
the products or services from the qualified products and services which is differ from other
products.
The marketing specialists also said that the Japanese customers always use their sense to
buy the products and services and fashions and always be tried of the things that they are using
and tend to shift to use other things so the factors that can make the Japanese Customers to buy
the products and services are (1) Quality (2) Value and (3). Color and they usually prefer the
products and services that have the universal style.
59
The demographic of the Japanese in current time, the Japanese people always be single and
get divorce than ever, in the household there are only few people in one household.
The needs of the Japanese people and the driver that encourage them to choose the housing
in the destination, According to Kobayashi Magazine mentioned that the Japanese Customers
need the room maid for keeping and clean the room.
ASEAN Customers
ASEAN will be the single market base in coming 2015, new have to understand the
ASEAN consumers behavior with 580 people of a whole community because in each country or
each region have the different behaviors , demographics, lifestyles and beliefs and backgrounds
of economics.
As we mentioned in early page ASEAN will affect to the serviced apartment business in
term of the free flow of the people and investments that brings about the increasing of expatriates
in Thailand.
ASEAN has the identities among the community, there are various kinds of the Social
factors, Economic factors, Language and Local Traditional Culture like the European Union so
this is the things that affects the purchasing decision, the income that they willing to pay for
Singaporean Customers
Purchasing Decisions
They have high purchasing power so most of them would like to purchase the high-end
products and premium and services.
Taste
The lifestyle of Singaporean, their lifestyle is affected by the western culture especially for
the younger people and affected by the world market and universal fashion trend so they are the
fusionism market in the ASEAN community and they always take crew of their health and
hygiene a lot.
60
Brunei customers
Purchasing Decisions
They have high purchasing power and willing to buy the high-end and focus on the quality
of the products and services.
Taste
Brunei people have the constraint for their cultures because of the Muslim Culture but they
have the up-to-date fashion and take the culture from western countries.
Malaysia Customers
Purchasing Decision
Malaysian people tend to buy the products and services that facilitate them and incline to
buy the high-end products and services and focus on the new technology and new innovation
Taste
There are a lot of races and ethnic groups in Malaysia but the group that always follow
the western style always pay much more money to buy the high-end products and services.
Indonesian Customers
Purchasing Decision
The Indonesian people have the gap between the wealth and the poverty and have the price
sensitive and don’t want the high-end one.
Taste
The Indonesian consumers have the moderate or average income so they always need to
pay for food and beverage much more than others ( 51% of all expenses) and hang-out with their
friend at outside of their homes.
61
Philippines Customers
Purchasing Decision
They don’t want to buy the high-end but they always buy the private Label and have
different tastes according to their revenues that they earn and they always think about their health
and wellness and hygiene.
All of the customers behaviors above always take care of their health , hygiene, and want
the up-to-date products and services and think about the quality of the products or services and
the health-related product offers so the serviced apartment should offer the health-related offer to
them.
Vietnamese Customers
Vietnam is a big country that have a lot of regions in the country ,the behavior of buyers are
differ according to the region that each group dwell. The Northern Vietnam focus on the price
and the Middle Vietnam focus on the quality of the products and the Southern Vietnam focus on
the benefit that they might get (benefit sought)
The new generation of Vietnam peoples especially the working group which sensitive to the
world market trend.
Burmese, Laotian, Cambodian
The Purchasing Power among these countries are not too high so they always occasion the
benefit sought and have less choice to choose.
The taste of these countries looks like the taste of Thai people because of the culture and
traditions.
62
The Demographic Segment
Occupation
Income
Age
Size of Family
Family Life Cycle
Religious
Demogrphic Segmentatio Variable
The Segmentation Approach based on Occupation and Income and Family
According to the Marketer Magazine mentioned that the demographic data of the Thonglor
road are as following; (1) Population Size equals to 45,633 persons (2) Household Size equals
22,942 households (3) Density of population 6,464/ 1square kilometers.
The occupation of the customers of the serviced apartment always be the business person
and the expatriates who relocate to work in Bangkok. ( GHB journal) so the occupation of the
expatriates are as following (1) Operation Managers (2) Lectures and Instructors (3)
Accountancy and Lawyers (4) Business (5) Managing Director.
Moreover, the expatriates who works in the field of investment Thailand are as followings;
(1) Operation and Production Manager (2) Computer Engineering (3) Architecture (4) Managing
Director and Top Management (5) Operation Staff(Source: The Ministry of Labor, Thailand)
In addition, the research Industrial Council Thailand and Faculty of Business
administration, Sripathum University mentioned that the expatriates in Thailand have the high
income and most of them are the professional who work as the top managers in the organization
so from the latest survey in 2010/2011 showed that mot of the expatriates always gain the salary
more that 300,000 baht; moreover, they get the medical welfares educational welfares for their
families. (Source: Thai PBS)
63
As mentioned in earlier pages the Japanese expatriates are the main expat group in Thailand
and Bangkok.
According to the data from the Japanese embassy of Thailand shows that so the reasons of
staying in Thailand of Japanese expatriates are as followings;
Reasons of Staying in Thailand Number of Expat based on reasons
1. The Japanese who work for
Japanese Business Organization
with their family members.
35,019 persons
2. The Japanese who work in Mass
Communication fields with their
family members.
203 persons
3. Personal SMEs and entrepreneurs 1,819 persons
4. Students and Researchers 2,285 persons
5. Government staff with their family
members.
668 persons
6. Long-term settle down 1,019 persons
7. Others 1,019 persons
Total 47,251
Moreover, mentioned that the groups of expats who don’t have the family members are
also the market for serviced apartment in Bangkok , this group of expats works as the staff for
business organization and gain the revenues more than 50,000$ per year. .
Source: The Thesis on the topic Expectation and Satisfaction toward the Qualification of Thai
Graduates in Japanese Studies, National Institute of Development Administration (NIDA) and
the GHB journal and the thesis on the selection of the guest house among the foreign people by
สุวิ�ยดา สุ�งเจ�ม)
Demographic segmentation of ASEAN Customers
64
According to the classification of the world bank , the world bank classified the revenues of
ASEANERS in to 5 categories as per following (1) High Income Earning (2) High- Average
Income Earning (3) Average-Low Income Earning (4) Low Income so if the ASEAN
community open in coming 2015 the target market should be Singaporean and Brunei people .
The demographic (Age) structure of AEANERS are the working age ( age of 15-64 years
old) so there are 60-77 percents of a whole ASEAN community so this is the thing that fits to
many business especially for serviced apartment business because it may increase the number of
working expatriates ; moreover, the working age can earn much more money and have the
purchasing power to buy the products or services and they want to find the things that different
from the usual products and services that they use so they dare to accept a new things different.
65
Psychographic Segmentation
Psychographic Segmentation is the segment based on the psychology and demographic so
this segmentation approach refers to lifestyle, personality, cultures and traditions.
As mentioned earlier the consumer behaviors in Thonglor they have the specific
identification in their lifestyles , they are the Trend Setters so the products and services that they
need should have the identity that they like and they always concern about the Brand Image.
Targeting
Demographic
BehaviorPsy-cho-
graphic
Geo-graphic
Target Market
66
Reigion
Income
AgeSize of Family
Family
Occupation
Demogrphic Segmentatio Variable
We target by implementing the demographic segmentation strategy because we concern
about the market size ( This market size equals to 35,019 persons so this is the biggest market
size among expats) because the main expat groups in Bangkok are the Japanese expat groups so
if we focus on the Japanese expat group they are the business persons in the organization and
they have the family member with them so we target the Japanese expatriates with their families
as a main target group and followed by the expats who stay alone and don’t have the family and
have high purchasing power.
67
Positioning and Differentiation
Normally the quality of service of the service business depends on the quality of the
appearance products such as cleanliness of the property, location and atmospheres, quality of
amenities, and the quality and responsiveness of people (service providers).
Moreover, we concern about the differentiation of our products and services, there are lot of
the competitors in Bangkok so we must be differ from each other by implementing the “service
innovation”
According to Nattaporn Puripanyawanich mentioned that service innovation is a new
process of the service operation in order to deliver the value to the customers so the service
innovation is a differentiation strategy that many organizations implement for creating more
loyalty customers so we need to create the service innovation strategy by getting the Information
Technology to deliver the value to the customers by applying the Application on customers’
tablets , smart phones , the application that we use is to receive the customers’ order so the
customers can order the services in advance via Application although the customers are outside
68
of the apartment’s premise so the competitors are not using this strategy; moreover, we can
promote the information through this application to the customers.
Marketing Mix
Marketing Mix is a tools that is used to control the business, this is a tool that‘s used for
delivering the value to the target customers that are comprised with 1) Product 2) Place 3) Price
4) Promotion 5) People 6) Process 7) Physical Evidence
Products and services
The products and services are classified as followings (1) Wide range of rooms within room
facilities such as Kitchen set, Ipod dock, Internet TV, Bed, Wardrobe (2) Fitness Center, (3)
Business Center and Meeting Facilities for business customers (4) Jacuzzi (5) Internet Wi-Fi
throughout the premise (6) Kids Club for the families who has their own children (7) Minimart
and Grocery Shop. (8) Swimming Pool with pool side bar (9) Sauna Room. (10) Coffee shop.
Place
This part relates about the Location, Delivering the tangible products to the customers.
According to Service Marketing (2011), mentioned that the place of the service business is
to deliver to tangible products to the potential customers and the most common strategy that
service business always do are (1) Direct Sales (2) Sales via intermediaries
The apartment implements the direct sales by getting the salesperson to walk-in the
Japanese Company in order to sales the rooms and facilities directly to the business customers,
this approach the salespersons are able to control the sales process and service process and able
to get the feedback in return immediately.
In addition, the apartment can get the Agents who are the intermediary for selling the rooms
and facilities to the potential customers so the apartment get the agent website which are the
intermediary for our products to the Japanese Expats who are seeking the housing in Bangkok
such as Kobayashi.com, Plus Property.com ; moreover, in the future the ASEAN community will
be opened so we might get the agency who act as the intermediary to promote our apartment to
69
the ASEANERS especially Singaporean nd Brunei people who have the high purchasing power
for serviced apartment.
Moreover, our location is a key main thing, our apartment is located on the Main Thonglor
road across from Camillian Hospital where is the customers are able to access easily.
Price
We pricing based on the costs and expenses in order to avoid the loss but our room rates are
not too high when comparing with other competitors.
Promotion
We promote ( Communicate ) via advertisement, giving some souvenir, leaflet, Billboard
and Notice in the front of the premise and publicity via the application for the in-house
customers and utilize the Free social media such as FaceBook, YouTube, Instragram and our E-
Commerce website.
Physical Evidence
This physical evidence refers to the cleanliness, decoration, facilities layout, textures and
color using of the premise.
In this case may refer to the quality of the facilities and amenities of the apartment.
People
People can be referred the service providers so this is the main reputation of our Apartment
because we offer the butler position instead of the housekeeper position.
Butler is the one who serve the customers closer than the normal housekeeper such as
cleaning the room, print out the document, setting up the facilities , washing the clothes, dishes
and so on while the other competitors have no the exceptional butler.
Process
We have the application so the customers can order the services from the application and
the butler will complete the service immediately although the customers are outside of the
70
premise so this is the Customer Relation Management (CRM) program that collect the data from
the customers in order to serving them.
71
Sales Forecast
Room Type A = 38 Rooms, Room Type B = 12 Rooms, Room Type C= 8 Rooms
The Year Begin Year1
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecAnnual Totals
Room Type A
185,000
185,000
185,000
185,000
185,000
185,000
185,000
185,000
185,000
185,000
185,000
185,000
2,220,000
Sale @ room
26
26
26
24
24
24
25
25
25
26
26
26
TOTAL 4,810,000
4,810,000
4,810,000
4,440,000
4,440,000
4,440,000
4,625,000
4,625,000
4,625,000
4,810,000
4,810,000
4,810,000
56,055,000
Room Type B
150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
1,800,000
Sale @ room
12
12
12
10
10
10
11
11
11
12
12
12
TOTAL 1,800,000
1,800,000
1,800,000
1,500,000
1,500,000
1,500,000
1,650,000
1,650,000
1,650,000
1,800,000
1,800,000
1,800,000
20,250,000
Room Type C
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
1,200,000
Sale @ room
5
5
5
5
5
5
5
5
5
5
5
5
TOTAL 500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
6,000,000
Monthly totals:
7,110,000
7,110,000
7,110,000
6,440,000
6,440,000
6,440,000
6,775,000
6,775,000
6,775,000
7,110,000
7,110,000
7,110,000
82,305,000
Q1 more than 70% Q2 about 65% Q3 about 68% Q4 about 70%
The increase in Foreign Direct Investment (FDI) and the political stability during the past two to three years are main drivers
of demand for serviced apartments. Many foreign investors may be new to investing in Thailand and are in the development stage of
their businesses, but it is a good sign for the future of the serviced apartment business in Bangkok. The global economic slowdown has
directly affected company budgets for staff accommodation and is driving people towards lower-cost residences, such as
72
condominiums for lease and apartments for foreigners in the City Area; moreover, most of serviced apartment try to renew the
contract with the existing customers.
Year 2
12-month Sales Forecast
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual Totals
Room Type A 185,000
185,000
185,000
185,000
185,000
185,000
185,000
185,000
185,000
185,000
185,000
185,000
2,220,000
Sale @ room 30
30
30
32
32
32
34
34
34
36
36
36
TOTAL 5,550,000
5,550,000
5,550,000
5,920,000
5,920,000
5,920,000
6,290,000
6,290,000
6,290,000
6,660,000
6,660,000
6,660,000
73,260,000
Room Type B 150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
1,800,000
Sale @ room 13
13
13
14
14
14
15
15
15
16
16
16
TOTAL 1,950,000
1,950,000
1,950,000
2,100,000
2,100,000
2,100,000
2,250,000
2,250,000
2,250,000
2,400,000
2,400,000
2,400,000
26,100,000
Room Type C 100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
1,200,000
Sale @ room 5
5
5
6
6
6
7
7
7
8
8
8
TOTAL 500,000
500,000
500,000
600,000
600,000
600,000
700,000
700,000
700,000
800,000
800,000
800,000
7,800,000
Monthly totals: 8,000,000
8,000,000
8,000,000
8,620,000
8,620,000
8,620,000
9,240,000
9,240,000
9,240,000
9,860,000
9,860,000
9,860,000
107,160,000
Q1 about 80% Q2 about 85% Q3 about 90% Q4 about 95%
During the year 2014 and 2015, most of the FDI tend to relocate the resources to ASEAN community and Bangkok and most
of those FDI still develop their projects in Bangkok; then, it brings about the increasing of the expatriates in Thailand.
Year 3
73
12-month Sales Forecast
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual Totals
Room Type A 185,000
185,000
185,000
185,000
185,000
185,000
185,000
185,000
185,000
185,000
185,000
185,000
2,220,000
Sale @ room 38
38
38
38
38
38
38
38
38
38
38
38
TOTAL 7,030,000
7,030,000
7,030,000
7,030,000
7,030,000
7,030,000
7,030,000
7,030,000
7,030,000
7,030,000
7,030,000
7,030,000
84,360,000
Room Type B 150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
1,800,000
Sale @ room 16
16
16
16
16
16
16
16
16
16
16
16
TOTAL 2,400,000
2,400,000
2,400,000
2,400,000
2,400,000
2,400,000
2,400,000
2,400,000
2,400,000
2,400,000
2,400,000
2,400,000
28,800,000
Room Type C 100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
1,200,000
Sale @ room 8
8
8
8
8
8
8
8
8
8
8
8
TOTAL 800,000
800,000
800,000
800,000
800,000
800,000
800,000
800,000
800,000
800,000
800,000
800,000
9,600,000
Monthly totals: 10,230,000
10,230,000
10,230,000
10,230,000
10,230,000
10,230,000
10,230,000
10,230,000
10,230,000
10,230,000
10,230,000
10,230,000
122,760,000
Q1 about 100% Q2 about 100% Q3 about 100% Q4 about 100%
Year 4
74
12-month Sales Forecast
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual Totals
Room Type A 185,000
185,000
185,000
185,000
185,000
185,000
185,000
185,000
185,000
185,000
185,000
185,000
2,220,000
Sale @ room 38
38
38
38
38
38
38
38
38
38
38
38
TOTAL 7,030,000
7,030,000
7,030,000
7,030,000
7,030,000
7,030,000
7,030,000
7,030,000
7,030,000
7,030,000
7,030,000
7,030,000
84,360,000
Room Type B 150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
1,800,000
Sale @ room 16
16
16
16
16
16
16
16
16
16
16
16
TOTAL 2,400,000
2,400,000
2,400,000
2,400,000
2,400,000
2,400,000
2,400,000
2,400,000
2,400,000
2,400,000
2,400,000
2,400,000
28,800,000
Room Type C 100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
1,200,000
Sale @ room 8
8
8
8
8
8
8
8
8
8
8
8
TOTAL 800,000
800,000
800,000
800,000
800,000
800,000
800,000
800,000
800,000
800,000
800,000
800,000
9,600,000
Monthly totals: 10,230,000
10,230,000
10,230,000
10,230,000
10,230,000
10,230,000
10,230,000
10,230,000
10,230,000
10,230,000
10,230,000
10,230,000
122,760,000
Q1 about 100% Q2 about 100% Q3 about 100% Q4 about 100%
From this year on, these are the official years of ASEAN Economics Community so, there are the free flows of the skilled
labor and free flows of the investment , there are the ASEAN FDI and other FDI from non-ASEAN community so it brings about the
full occupancy rates of the serviced apartment because f the increasing of the expat .
Year 5
75
12-month Sales Forecast
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual Totals
Room Type A 185,000
185,000
185,000
185,000
185,000
185,000
185,000
185,000
185,000
185,000
185,000
185,000
2,220,000
Sale @ room 38
38
38
38
38
38
38
38
38
38
38
38
TOTAL 7,030,000
7,030,000
7,030,000
7,030,000
7,030,000
7,030,000
7,030,000
7,030,000
7,030,000
7,030,000
7,030,000
7,030,000
84,360,000
Room Type B 150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
1,800,000
Sale @ room 16
16
16
16
16
16
16
16
16
16
16
16
TOTAL 2,400,000
2,400,000
2,400,000
2,400,000
2,400,000
2,400,000
2,400,000
2,400,000
2,400,000
2,400,000
2,400,000
2,400,000
28,800,000
Room Type C 100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
1,200,000
Sale @ room 8
8
8
8
8
8
8
8
8
8
8
8
TOTAL 800,000
800,000
800,000
800,000
800,000
800,000
800,000
800,000
800,000
800,000
800,000
800,000
9,600,000
Monthly totals: 10,230,000
10,230,000
10,230,000
10,230,000
10,230,000
10,230,000
10,230,000
10,230,000
10,230,000
10,230,000
10,230,000
10,230,000
122,760,000
Q1 about 100% Q2 about 100% Q3 about 100% Q4 about 100%
(Sources: Colliers International and Kasikorn Research Center)
76
Conclusion
Marketing is the approach that to offer the value to the potential customers and how to
maintain the customers with us and creations of the loyalty customers so we must take care and
satisfy the customers at all times; however, the marketing is always affected by the internal and
external so the external are the threats that could affect the marketing.
The first thing that to create the serviced apartment or other kinds of the apartment is to
surveying of the market needs in the location of the apartment that will be built and we can
position ourselves rightly for the target market so the biggest market for serviced apartment
business is in Bangkok that are place that has a lot expats that prefer to choose to stay in the
serviced apartment ;then, the factors that brings about the incoming of the expatriates in
Bangkok are the economic factors and political factors because these expatriates always come
with the Foreign Direct Investment(FDI) from other countries in Bangkok so the FDI policy of
the Thai Government and Political problems that could brings about the decreasing of the
expatriates and occupancy rates ; furthermore, the social and environmental factors may bring
about the increasing of the occupancy rates such as the flooding in Thailand so the victims of the
flood moved to stay in the serviced apartment in Bangkok in the non-flooded areas and the
technology factors such as the opportunities from 3G factors that facilitates the marketing
activities such as E-commerce Website, Application on tablets, smart phones and free social
networks such as FaceBook, YouTube and Instragram application.
In addition, the main our target markets are the Japanese expats who come along with
their family members so this is the biggest market size of the market segments ( 35,019 persons
and have high purchasing power) and they always stay in Thonglor road; moreover, the ASEAN
Econmics Community will be opened in the coming 2015 so there are the opportunities for us
and serviced apartment business that to get more customers so these are the silver line for
serviced apartment business so the our ASEAN customer could be he Singaporean and Brunei
because they have high purchasing power.
Our competitors are the direct and indirect competitors such as the rival serviced
apartment in the same area and so we need to differentiate ourselves from other competitors. We
differ from the condominium because we have the advantage about the service providing whle
77
the condominium can’t offer the full range of services like serviced apartment ; for example, if
the customers have the problems about the in-room equipment the condominium staff don’t have
the right to fix anything while the serviced apartment staff willing to assist the customers
Moreover, we have the butlers who offer the personalized service to all rooms and we
have the application for them to contact and promote the serviced apartment for the customers
and get the information of the customers to create the Customer Relations Management.
78
Chapter 4
Investment Cost
79
Investment Cost
Pre- Operating
- Land 128,000,000Baht (1 Square yard)- Transfer fee 2,560,000 Baht
Total 130,560,000Baht
References: http://www.nakornthong.com/
http://www.hometophit.com
Investment cost
Cost per each Total cost(Baht)
Investment cost- Land (1 Square yard= 320,000Baht) 400 Square
yard128,000,000
- Transfer fee (Land x 2%) 2,560,000- Apartment label (3mx1.5m) 30,000- The plumbing fixtures(include TAX) 680,000+7% 727,600- Electronic fixtures (100Amp)- 100 Amp- Insurance (100KV for High voltage meter)- Insurance for using electronic
300400
37,20030,00040,000105,000
- Electronic Install all buried (2,500 space) 270 675,000- Telephone fixture - Cabal (4m per each) total 80 phones- Telephone Surge Protection Box
(8,000per24phones)- Telephone install fee (distance 11km-200km)- WIFI, WLan and phone (80space)- Phone (80 phones)
4808,000
5002,590
153,60032,000
30040,000207,200
- CCTV install fee (20 units)- CCTV (20 units) (99,000per16units)
3,00099,000
60,000198,000
- Construction of building (including labor cost, swimming pool, etc.)
228,008,000
Furniture and decorate inside-room costRoom type A (38 rooms)
- Kitchen Zone- Living room- Bathroom- Bedroom
197,160128,755120,387480,250
7,492,0804,892,6904,574,70618,249,500
Room type B (12 rooms)- Kitchen Zone 199,540 2,394,480
80
- Living room- Bathroom- Bedroom
63,440120,387284,120
761,2801,444,6443,409,440
Room type C (8 rooms)- Kitchen Zone- Living room- Bathroom - Bedroom
189,54047,735120,387102,960
1,516,320381,880963,096823,680
Office furniture and equipments- Office table set- Furniture set- Computer set
27-inch iMac
Apple Wireless KeyboardApple Magic Mouse
- Printer brother MFC-9970CDW
- Fax Machine FAX-2820
75,00045,000
66,9002,3902,39039,9006,990
75,00045,000
66,9002,3902,39039,9006,990
Fitness equipment 1,756,565Other equipmentAir condition
- Samsung ร �น Vivaldi Inverter (ASV24 ESWMNXST)
24,000 BTU, including install cost (210 units)
De-aerator- Samsung / SA605CBXST (80 units)
CS-D50DB4Q (CU-D50DBQ7) (6.0HP)Cassette Type – Neat Installation and 4-Way Airflow Comfort (15 units)
Television
- 55 inch HX925 Series BRAVIA Full HD 3D *1 TV (70 units)
- 40 inch NX720 Series BRAVIA Full HD 3D *1 TV (62 units)
38,400
4,900
99,750
129,990
47,240
8,064,000
392,000
1,496,250
9,099,300
2,928,880
Total investment cost 531,783,261
Reference: http://www.mwa.co.th/ewt_news.php?nid=301&filename=index
http://www.pea.co.th/th/services/services_fee_rates.htm
http://www.eakpai.com/index.php/2011-03-08-05-20-37.html
http://www.telepart.net/
81
http://www.bd.co.th/service.php
http://sabuy.sanook.com/product/6956201?utm_source=priceza.com&utm_medium=productlist-
http://www.cctvbangkok.com/
http://www.shoppingbycom.com/%E0%B8%81%E0%B8%B2%E0%B8%A3%E0%B8%9E%E0%B8%B1%E0%B8%92%E0%B8%99%E0%B8%B2%E0%B8%87%E0%B8%B2%E0%B8%99/contractors.html
http://www.srangsookjai.com/index.php?lay=show&ac=article&Id=538802004
Location
Thonglor road, Bangkok, Thailand
82
Layout and Facility
The 7-storey U-shaped building
- The one with the front office, mini-mart, coffee shop, and a customer management (zero rent), and the service.
- A grade 2-3 class room C, the room is 4-5 grade B, grade 6-7 and grade rooms A.- What deck is decorated with plants to shady corner benches for residents to relax. And
the facilities (pool, gym) to support the top. For privacy and convenience of the residents.- Building a modern style, adding a little touch of sweetness. White plus gray. To make
sense to stay clean. Decorated with shady trees because the Bangkok area, which is a rare tree in our apartment, so it makes a difference, like the forest in the middle of the city so that residents feel most, relaxed.
- Parking is separate to the building. Beauty and the noise (car audio, car to car) to the residents.
Floor Plan
83
84
Room TypeGrade A
Grade B
85
Grade C
86
Machine/Tools/ Equipments
Room type AKitchen zone
This kitchen is u shape and has cabinet in the down that make you easy to catch something that you want and it can use to be counter bar too.
Reference: http://onlinecatalogueasia.ikea.com/TH/th/Range_Brochure_Kitchen/
Living room zoneSofa
Large and deep seat was comfortable and backrest supports your back well. Give the soft touch and is durable and easy to careful.
Reference: http://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
87
TV cabinet
In the front of cabinet made from safety glass. Do not block the remote control signal or control electronics. Leg of cabinet can adjustable so it can put on uneven areas.
Reference: http://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
Carpet
This carpet is tightly woven wool and can give the soft touch of the foot and can reduce noise well.
Reference: http://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
88
Lamp
The fabric lamp can provide soft lighting.
Reference: http://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
Blinds
The blinds have 250 cm in length but if you want the short one you can easy to cut it by the scissors and keep the seam by use adhesive tape.
Reference: http://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
Bed cover
Can use to be large blanket or can be bedspreads for single bed.
Reference: http://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
89
Pillow
Pillows feather give the feeling full, soft and flexible like you have a good night.
Reference: http://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
Extra Chair
This chair is extra wide seat it can squat on the seat comfortably.
Reference: http://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
90
Bedroom
Included:- Bed 6 feet- 2 Bedside cabinets- Wardrobe- Vanity
Reference:http://www.udomfurniture.co.th/shop/%E0%B8%AB%E0%B9%89%E0%B8%AD%E0%B8%87%E0%B8%99%E0%B8%AD%E0%B8%99/%E0%B8%8A%E0%B8%B8%E0%B8%94%E0%B8%AB%E0%B9%89%E0%B8%AD%E0%B8%87%E0%B8%99%E0%B8%AD%E0%B8%99%E0%B8%AB%E0%B8%A5%E0%B8%B8%E0%B8%A2%E0%B8%AA%E0%B9%8C.html
91
BathroomMirror
Width: 60 cmDepth: 11 cmHeight: 78 cmMax / tracks: 2 kg
Reference: http://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
Laundry cabinet
Width: 40 cmDepth: 38 cmHeight: 194 cm
Reference: http://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
92
Light
The light shines steadily suitable for installation in front of the mirror and sink.
Lamp is light distribution so the lighting will throughout.
Reference:http://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
Basin with 4 drawers
Drawers made from real wood the surface coated with melamine so it resistant to scratches as well.
Reference:http://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
93
Corner shelf
Cleaning by use a soft cloth moistened with water or water mixed with a mild soap to wipe clean can’t use abrasive cleaners.
Reference:http://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
The hanging back of the door
Hang it up to the door for hanging or storage. The rear door panels prevent scratching.
Reference:http://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
94
Fabric shower curtains
Polyester fabrics coated prevent the water.
Reference:http://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
Jacuzzi
Jacuzzi tub is not in use on a large scale, rounded down to 160 cm between the two is the amount of water and compressed air. And adjust to the new pressure.
Reference:http://www.treetouch.com/index.php?lay=show&ac=article&Id=538818602
95
Toilet boil
Reference:http://www.atsiam.com/reviews/review_detail.asp?RV_ID=6355&LANG=th
96
Room type BKitchen zone
In this set include cabinet, Hanging cabinet, cooker hood, oven, microwave and some tool that are nessesory.
Reference: http://onlinecatalogueasia.ikea.com/TH/th/Range_Brochure_Kitchen/
Living room zoneTV cabinet
This TV cabinet used for mounting flat screen LCD TVs 37 to 60 inches and have many shelf for drawer. Have many cabinet sizes can choose a size that fits the space available for efficient to use of space.
Referencehttp://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
97
Sofa
Large and deep seat was comfortable and backrest supports your back well. Give the soft touch and is durable and easy to careful.
Referencehttp://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
Carpet
This carpet is nylon carpet wool blend skin soft and very durable. It is tightly woven wool and can give the soft touch of the foot and can reduce noise well.
Referencehttp://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
Lamp
The light shines through the bamboo spokes it make a beautiful shadow on the wall.
Referencehttp://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
98
Extra chair
This chair can take a rest comfortably because this chair has the high backrest that can support the neck well.
Referencehttp://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
Pillow
Pillows feather give the feeling full, soft and flexible like you have a good night.
Referencehttp://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
Blinds
The blinds have 250 cm in length but if you want the short one you can easy to cut it by the scissors and keep the seam by use adhesive tape.
99
BathroomMirror
Width: 60 cmDepth: 11 cmHeight: 78 cmMax / tracks: 2 kg
Reference: http://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
Laundry cabinet
Width: 40 cmDepth: 38 cmHeight: 194 cm
Reference: http://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
100
Light
The light shines steadily suitable for installation in front of the mirror and sink.
Lamp is light distribution so the lighting will throughout.
Reference:http://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
Basin with 4 drawers
Drawers made from real wood the surface coated with melamine so it resistant to scratches as well.
Reference:http://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
101
Corner shelf
Cleaning by use a soft cloth moistened with water or water mixed with a mild soap to wipe clean can’t use abrasive cleaners.
Reference:http://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
The hanging back of the door
Hang it up to the door for hanging or storage. The rear door panels prevent scratching.
Reference:http://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
102
Fabric shower curtains
Polyester fabrics coated prevent the water.
Reference:http://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
Jacuzzi
Jacuzzi tub is not in use on a large scale, rounded down to 160 cm between the two is the amount of water and compressed air. And adjust to the new pressure.
Reference:http://www.treetouch.com/index.php?lay=show&ac=article&Id=538818602
103
Toilet boil
Reference:http://www.atsiam.com/reviews/review_detail.asp?RV_ID=6355&LANG=th
104
Bedroom
Bed
Bed made from carved teak 5 feet
Reference:http://www.udomfurniture.co.th/shop/%E0%B8%AB%E0%B9%89%E0%B8%AD%E0%B8%87%E0%B8%99%E0%B8%AD%E0%B8%99/%E0%B9%80%E0%B8%95%E0%B8%B5%E0%B8%A2%E0%B8%87%E0%B8%99%E0%B8%AD%E0%B8%99/%E0%B9%80%E0%B8%95%E0%B8%B5%E0%B8%A2%E0%B8%87%E0%B8%AB%E0%B8%A5%E0%B8%B8%E0%B8%A2%E0%B8%AA%E0%B9%8C.html
Wardrobe
Reference:http://www.udomfurniture.co.th/shop/
105
Bedside cabinet
Reference:http://www.udomfurniture.co.th/shop/%E0%B8%AB%E0%B9%89%E0%B8%AD%E0%B8%87%E0%B8%99%E0%B8%AD%E0%B8%99/%E0%B8%95%E0%B8%B9%E0%B9%89%E0%B8%82%E0%B9%89%E0%B8%B2%E0%B8%87%E0%B9%80%E0%B8%95%E0%B8%B5%E0%B8%A2%E0%B8%87/%E0%B8%95%E0%B8%B9%E0%B9%89%E0%B8%82%E0%B9%89%E0%B8%B2%E0%B8%87%E0%B9%80%E0%B8%95%E0%B8%B5%E0%B8%A2%E0%B8%87-ud94.html
106
Room type CKitchen zone
You can do everything here – cook, eat, bake, surf and play. Because when space is small, ideas get bigger. Like a drop-leaf table that folds down when you’re not eating. And the tablet storage on the wall.
Reference:http://www.ikea.com/th/en/catalog/categories/departments/kitchen/roomset/20132_kiro02j/
Living room zone
Sofa
Generous seating series with a soft, deep seat and comfortable support for your back.
Reference:http://www.ikea.com/th/en/catalog/products/S69908184/
107
TV cabinet
Vents at the top of the TV bench; helps improve air circulation around electronic components.
Reference:http://www.ikea.com/th/en/catalog/products/20188789/#/30174616
Carpet
The dense, thick pile provides a soft and warm surface for your feet and also dampens sound.
Reference:http://www.ikea.com/th/en/catalog/products/20188789/#/30174616
108
Lamp
Gives a soft mood light.
Reference:http://www.ikea.com/th/en/catalog/products/20213595/
Curtain
Thin curtain defuses light softly; perfect to use in a layered window solution.
Reference:http://www.ikea.com/th/en/catalog/products/90221554/
109
Bedspread
The bedspread has a lively texture created by thicker jute threads interwoven into the cotton fabric and looks decorative on your bed.
Reference:http://www.ikea.com/th/en/catalog/products/70229419/
Pillow
Support pillow to sit up, recline, relax and read comfortably in bed or on the sofa.
Reference:http://www.ikea.com/th/en/catalog/products/20166117/
Extra chair
Easy to keep clean; removable dry-clean cover.
Reference:http://www.ikea.com/th/en/catalog/products/00188115/
110
Bedroom
Bed
Bed made from carved teak 5 feet
Reference:http://www.udomfurniture.co.th/shop/%E0%B8%AB%E0%B9%89%E0%B8%AD%E0%B8%87%E0%B8%99%E0%B8%AD%E0%B8%99/%E0%B9%80%E0%B8%95%E0%B8%B5%E0%B8%A2%E0%B8%87%E0%B8%99%E0%B8%AD%E0%B8%99/%E0%B9%80%E0%B8%95%E0%B8%B5%E0%B8%A2%E0%B8%87%E0%B8%A7%E0%B8%B4%E0%B8%84%E0%B8%95%E0%B8%AD%E0%B9%80%E0%B8%A3%E0%B8%B5%E0%B8%A2.html
Wardrobe
Reference:http://www.udomfurniture.co.th/shop/
111
Bedside cabinet
Reference:http://www.udomfurniture.co.th/shop/%E0%B8%AB%E0%B9%89%E0%B8%AD%E0%B8%87%E0%B8%99%E0%B8%AD%E0%B8%99/%E0%B8%95%E0%B8%B9%E0%B9%89%E0%B8%82%E0%B9%89%E0%B8%B2%E0%B8%87%E0%B9%80%E0%B8%95%E0%B8%B5%E0%B8%A2%E0%B8%87/%E0%B8%95%E0%B8%B9%E0%B9%89%E0%B8%82%E0%B9%89%E0%B8%B2%E0%B8%87%E0%B9%80%E0%B8%95%E0%B8%B5%E0%B8%A2%E0%B8%87-1-%E0%B8%A5%E0%B8%B4%E0%B9%89%E0%B8%99%E0%B8%8A%E0%B8%B1%E0%B8%81-1-%E0%B8%9A%E0%B8%B2%E0%B8%99%E0%B9%80%E0%B8%9B%E0%B8%B4%E0%B8%94.html
112
BathroomMirror
Width: 60 cmDepth: 11 cmHeight: 78 cmMax / tracks: 2 kg
Reference: http://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
Laundry cabinet
Width: 40 cmDepth: 38 cmHeight: 194 cm
Reference: http://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
113
Light
The light shines steadily suitable for installation in front of the mirror and sink.
Lamp is light distribution so the lighting will throughout.
Reference:http://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
Basin with 4 drawers
Drawers made from real wood the surface coated with melamine so it resistant to scratches as well.
114
Reference:http://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
Corner shelf
Cleaning by use a soft cloth moistened with water or water mixed with a mild soap to wipe clean can’t use abrasive cleaners.
Reference:http://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
The hanging back of the door
Hang it up to the door for hanging or storage. The rear door panels prevent scratching.
Reference:http://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
115
Fabric shower curtains
Polyester fabrics coated prevent the water.
Reference:http://www.ikea.com/webapp/wcs/stores/servlet/InterestItemDisplay?storeId=44&langId=-55
Jacuzzi
Jacuzzi tub is not in use on a large scale, rounded down to 160 cm between the two is the amount of water and compressed air. And adjust to the new pressure.
Reference:http://www.treetouch.com/index.php?lay=show&ac=article&Id=538818602
116
Toilet boil
Reference:http://www.atsiam.com/reviews/review_detail.asp?RV_ID=6355&LANG=th
117
Fitness
Units Price Total PriceG6421C RT AERO PRO 5 48,000 240000G661 LUXOR Treadmill 5 71,200 356000
G235A NDE Elliptical 5 16,000 80000
G865M Manual Crosstrainer 5 35,000 175000
R306 Regatta 3 17,520 52560G152X Home-Use Training Station 2 43,900 87800SK2000TV Stepper R200TV 5 60,000 300000SK9900TV Recumbent BikeH990TV 5 63,200 316000
L800 Abdominal flexor bench 2 19,000 38000
Vibration Active power YV16 1 16,900 16900
Vibration Active PowerCombo YV55 1 19,000 19000
Vibration Tactiletonic Pro G225 1 15,900 15900
Vibration Plate V109 1 15,215 15215
Indoor Cycle S3 2 9,900 19800
AB coaster CS3000 1 5,990 5990
AB Circle Pro 1 3,900 3900
Rip 60 2 2,500 5000
118
Bodi Rocker 2 1,290 2580
Gym Ball
65 CM. 2 490 980
75 CM. 2 590 1180
85 CM. 2 690 1380
95 CM. 2 790 1580
Massage Ball 90 CM. 2 900 1800Total 1756565
119
Other equipmentAir conditional
- Samsung ร �น Vivaldi Inverter
Air-conditioning and health care. Get rid of bad bacteria. And destroy the virus. The weather was perfect. Samsung inverter air conditioning technology as many of the Virus Doctor, Filter 80 and Anti-Virus Filter, Zeomic Pre-Filter filters SARS virus infection and avian DNA Filter filter carcinogens Catecchin Filter filter Karen State Route. Green tea extract trap bacteria and air conditioning mode, Intelligent and energy are saving.
Reference: http://guaranteelogo.com/air/samsung/samsung_wall_type_inverter.php
De-aerator- Samsung / SA605CBXST
Protect the virus spread in the air. Samsung Virus Doctor is the proper way to protect yourself from germs in the air. Thus eliminating the cause of disease in respiratory efficiency, the BAF (Foundation allergies of England) to guarantee efficient in removing allergens of S-Plasma ion the air you breathe clean and healthy. With Samsung Virus Docto. To get rid of the virus. Samsung Virus Doctor removal, malicious virus. The cause of the disease in the respiratory tract to fatal diseases such as swine flu (Influenza A) strain H1N1, and even disease SARS research organizations, academic and proved that S-plasma ion efficiency superior to 99.9% now. You can feel completely safe on the tiny invisible enemy in the air.
120
Reference: http://www.narathiwatsurin.com/home/index.php?option=com_content&view=article&id=126:airpurifier-samsung-sa605cbxst&catid=32:airpurifier&Itemid=51
Television- 55 inch HX925 Series BRAVIA Full HD 3D *1 TV
Powered by Sony’s new X-Reality™ PRO Engine and Intelligent Peak LED technology, the HX925 is one television that definitely redefines home entertainment at its best.
Intelligent Peak LED
Motionflow™ XR 800
X-Reality™ PRO picture engine
OptiContrast and CORNING's Gorilla Glass Panel
Full HD 3D *1 features a built-in 3D Transmitter and 2x 3D Glasses supplied
Wi-Fi Integrated
Reference: http://www.sony.co.th/product/kdl-55hx925?site=hp_en_TH_i
121
- 40 inch NX720 Series BRAVIA Full HD 3D *1 TV
The NX series BRAVIA wraps all of Sony’s redefining TV technologies into a stunning looking TV. The striking Monolithic design of the NX series looks great both on and off.
Edge LED
OptiContrast and CORNING's Gorilla Glass Panel
Wi-Fi Integrated
Monolithic Design
Full HD 3D *1 features a built-in 3D Transmitter
X-Reality™ picture engine
Reference: http://www.sony.co.th/product/kdl-40nx720?site=hp_en_TH_i
122
CS-D50DB4Q (CU-D50DBQ7) (6.0HP)Cassette Type – Neat Installation and 4-Way Airflow Comfort
- 49,500 Btu/h- Multi-Comfort Air Control- Weekly Timer
123
- Odour Wash- Ecomony Mode
Multi-Comfort Air ControlNewly Developed control technology offers the various selection of fine air blowing angle. Select from the 3-pattern autoswings not to expose to the air directly (total 50-degree swing width).Odour WashOdour Wash reduces any unpleasant odours produced from the air conditioner&s heat exchanger.Newly Designed Turbo FanThe cassette indoor unit is equipped with a newly-developed turbo fan; the new shape produces low noise and high air flow rate.Selectable Remote Controller (wired or wireless)Customer needs to choose either wired or wireless remote controller.
General Information
Indoor Model Number CS-D50DB4Q
Power Source 60 [Hz]
Panel Model Number CZ-BT03P
Outdoor Model Number CU-D50DBQ7*
Cooling Capacity
Indoor [kJ/h] 52,200
Indoor [Btu/h] 49,500
Current
A 18.0
Power Input
kW 6.20
EER
[kJ/hW] 8.427.98
Indoor Unit
Air Volume m3/min 34.0
Sound Pressure Level* (Hi/Lo) dB (A) 47/43
Dimension Indoor (HxWxD) mm 288 x 840 x 840
Dimension Panel (HxWxD) mm 950 x 950 x 45
Net Weight Indoor kg 30.0
124
Net Weight Panel kg 4.5
Outdoor Unit
Sound Pressure Level* (Hi) dB (A) 56
Dimension Outdoor (HxWxD) mm 1,170 x 900 x 320
Net Weight kg 83.0
Piping Connections Gas Pipe mm (inch) 19.05 (3/4)
Piping Connections Liquid Pipe mm (inch) 9.52 (3/8)
Pipe Length Min-Max m 7.5 - 50.0
Evaluation Difference (CU up)** CU down m (30.0) 20.0
Maximum Chargeless Length Max m 30.0
Additional Gas g/m 25
Operating Range, Outdoor Min-Max oC 16 - 43
Reference: http://www.panasonic.com.ph/wps/portal/home/products/homeappliances/airconditionerfan/industrialairconditioner/cassettetype/CSD50DB4QCUD50DBQ76HP
125
Office equipment
Office table set
Working table 180 * 90 * 75 cmSide cabinet: 120 * 48 * 70.The drawer 42 * 60 * 65.Low cabinet 180 * 48 * 80.High cabinet 185 * 45 * 165.
Reference: http://ong-in-furnish.tarad.com/product-th-537323-2432307-EXC+SERIES.html#
Furniture set
Reference: http://www.lannamarket.com/set_of_living-set_field.html
126
Computer set- 27-inch iMac
3.2GHz quad-core Intel Core i5Turbo Boost up to 3.6GHz8GB (two 4GB) memory1TB hard drive1
NVIDIA GeForce GTX 675MX with 1GB
Reference: http://store.apple.com/th/browse/home/shop_mac/family/imac
- Apple Wireless Keyboard
Reference: http://store.apple.com/th/browse/home/shop_mac/mac_accessories/mice_keyboards
- Apple Magic Mouse
Reference: http://store.apple.com/th/browse/home/shop_mac/mac_accessories/mice_keyboards
127
Printer brother MFC-9970CDW
Professional Colour Laser Multi-Function Centre with Automatic Double-Sided Printing and Wireless NetworkingPrint, Fax, Copy, Scan, PC Fax with Automatic Double sided, Wired and Wireless networking
Reference: http://welcome.brother.com/th-en/products-services/multi-function-centres/mfc-9970cw.html
Fax Machine FAX-2820
Compact fax machine with copying capabilities and an integrated handset.
Reference: http://welcome.brother.com/th-en/products-services/fax-machines/fax-2820.html
128
129
Depreciation
Total Depreciation Janurary February March April May June July August September October November DecemberBuilding 70,401.07 70,401.07 70,401.07 70,401.07 70,401.07 70,401.07 70,401.07 70,401.07 70,401.07 70,401.07 70,401.07 70,401.07 844,812.80Kitchen equipments 237,575 237,575 237,575 237,575 237,575 237,575 237,575 237,575 237,575 237,575 237,575 237,575 2,850,900Living Facilities 5,029.88 5,029.88 5,029.88 5,029.88 5,029.88 5,029.88 5,029.88 5,029.88 5,029.88 5,029.88 5,029.88 5,029.88 60,358.80Bathroom equipments 5,818.71 5,818.71 5,818.71 5,818.71 5,818.71 5,818.71 5,818.71 5,818.71 5,818.71 5,818.71 5,818.71 5,818.71 69,824.46Bedroom facilities 18,735.53 18,735.53 18,735.53 18,735.53 18,735.53 18,735.53 18,735.53 18,735.53 18,735.53 18,735.53 18,735.53 18,735.53 224,826.20Office table set 62.5 62.5 62.5 62.5 62.5 62.5 62.5 62.5 62.5 62.5 62.5 62.5 750Furniture set 37.5 37.5 37.5 37.5 37.5 37.5 37.5 37.5 37.5 37.5 37.5 37.5 450Computer set 2,468.33 2,468.33 2,468.33 2,468.33 2,468.33 2,468.33 2,468.33 2,468.33 2,468.33 2,468.33 2,468.33 2,468.33 29,620Air condition 31,868 31,868 31,868 31,868 31,868 31,868 31,868 31,868 31,868 31,868 31,868 31,868 382,410Elevator 1,306.67 1,306.67 1,306.67 1,306.67 1,306.67 1,306.67 1,306.67 1,306.67 1,306.67 1,306.67 1,306.67 1,306.67 15,680Television 40,093.93 40,093.93 40,093.93 40,093.93 40,093.93 40,093.93 40,093.93 40,093.93 40,093.93 40,093.93 40,093.93 40,093.93 481,127.20Fitness equipment 5,855.22 5,855.22 5,855.22 5,855.22 5,855.22 5,855.22 5,855.22 5,855.22 5,855.22 5,855.22 5,855.22 5,855.22 70,262.60CCTV 660 660 660 660 660 660 660 660 660 660 660 660 7,920Telephone 690.67 690.67 690.67 690.67 690.67 690.67 690.67 690.67 690.67 690.67 690.67 690.67 8,288
Total 420,602.49 420,602.49 420,602.49 420,602.49 420,602.49 420,602.49 420,602.49 420,602.49 420,602.49 420,602.49 420,602.49 420,602.49 5,047,230.06
Month
Some of the equipment has to be calculated for depreciation based on the ministry of finance while some of them must be calculated according to the estimated lifetime and salvage value
130
Conclusion
From the cost information, we will make a new building of service apartment in Thonglor
road of Bangkok. We need to buy land, building, and equipment such as furniture, computers,
telephone, faxes and print machine, television, refrigerators and others. We need money to invest
about 531,783,261 Baht. For facility layout, we have one office, one swimming pool, one fitness
center, 62 rooms and parking area. For the apartment we have 7 Floors.
131
Chapter 5
Operation Analysis
132
Operation Analysis
Product Characteristic
Premise Planning and Facility Management
The good planning for serviced apartment is the thing that facilitates the business
running and facilitates and to manage the space properly and the corridor must not be too
narrow and wide range of in-room facilities and adequate space for parking lot so the space
can be classified into 5 types
o Residence Zones
The residence zone is the room zone for the customers that can be
classified into 3 types with all 62 rooms
Room Type A
The room type A normally for the family customers which provide two king size bed
in two large master bedroom with dining zone and two balconies and the closet room and
pantry or kitchen room and two bathrooms and large Living and Dining room.
133
Room Type B
The room type B where provides the one large master bedroom and small bedroom
and bathroom and kitchen with large balcony and living area so this room is suited for small
family or it may be suited for customers who don’t have the family.
134
Room Type C
This room type provides one large master bedroom with the kitchen and large living
area with the bathroom and balcony. This room is suited for small family or it may be suited
for customers who don’t have the family.
Fitness Center Zone
Not only room providing but also we provide the health and fitness service for the
customers at the first floor
G6421C RT AERO PRO
Hyper-size 12 cm stand post design the
durable and firm oval-shaped stand
posts reach 12cm! It's the same level
with commercial use treadmill.
Except for enhancing the toughness
of frame, it could also prevent users
from injuries while exercising.
14 pre-set program swarm up and cool
down are the basic principles of
running training, all the pre-set programs of G6421C treadmill lower the
intensity at the beginning and end. It helps you to protect your body while
exercising. Every athlete has his/her own goal, and BH integrates the
characteristics of different needs to design different training programs with
suitable speed and incline setting.
Motor 2.25 HP / 5.0HPP Green Power
motor
Speed 1- 20 km/h
Elevation 15 levels
Running surface 142 x 50 cm
Monitor Blue backlit Grid LCD design
Display Information distance/ time/ speed/ incline/
135
pulse/ calories/ programs
Instant speed keys 2/4/6/8/10/14/16 km/hr
G661 LUXOR Treadmill
Luxury, power and comfort combined Homey, Stylish treadmill
AmbilightBlue ambilight effect helps to create a unique ambient atmosphere and fully
presents high-tech design.
ButtonWith buttons easy to operate for more comfortable exercise
Four steps of cushioning system
Handrailinnovative design of eagle-wings handrails satisfies your fashionable taste.
Body Fat Program Helps to control your figure.
HRC Program Ideal to achieve effective cardiovascular exercise.
SDS (Soft Drop System) safe vertical unfolding system powered by a hydraulic
system to prevent back injuries.
3.5HP motor(peak)
0,8 and 18km/h
136
Max. electric incline-15 level
Treadmill Length: 190 cm
Treadmill Width: 93 cm
Treadmill Height: 135 cm
G235A NDE Elliptical
Contact pulse measurement system
Grip pulse to measure pulse rate during training
Recovery test
Helps to control your fitness and
conditioning through controlled
recovery
Elliptical movement
Brings non-impact C.V. exercise
to more than 200 muscles
Heart Rate Control (HRC)
Allows cardiovascular zones to be
targeted during your workout
Telemetric pulse measurement
system (Chest belt optional)
For an accurate and comfortable control of the heart pulse via use of a chest belt
Handpulse measure system
Four machines in oneCombines walking, running, cross training, stair climbing and pushups
at the same timeMagnetic brake system
G865M Manual Crosstrainer
Oversized LCD monitor
- Displaying with time, RPM,speed,
distance,calories and pulse helps track
your workout progress
- Ergonomic elliptical movement : Brings
non-impact C.V.exercise to more than
200 muscles
137
- Magnetic brake system : Provides quiet and smooth pedaling
- Equipped with tension knob with 8 levels : Allows users to select the most
suitable workout intensity
- 20" (50 cm) Stride training: Provides fit stretch to all muscle groups and helps to
slim your figure through training the muscles of hips and legs.
Ergonomic grips with hand pulse control
- Enjoy more comfortable exercise and provide accurate pulse measurement
Track and Track structure
- Combining 3-section assembly structure with heavy duty bearings brings non-
impact exercise to the joints and spinal cord and also arms, abdominals, thighs and
hips.
Dual tracks
- Combining with large-sized pulleys helps balance the pedals and offer greater safety
while exercising
- Oversized anti-slip foot pedals
- Transportation wheels
- Easy to move around the house
- Lowering the high of the pedal structure :
Designed to offer easy access to the machine
- Space-saving structure design
- Front drive cross trainer (easy access)
Specification
Weight: 85 kg
Flywheel weight:8 kg
L 185cm. / 72.8” W 70cm. / 27.6” H 170cm. / 67”
138
R306 Regatta
Total body stretch movement
Aluminum sliding track
Exclusive magnetic brake system
8 levels of resistance control
Multi Functions
Ergonomic saddle
user friendly LCD monitor : Displaying with time, calories, pulse, strokes per minute, total
strokes helps you track your workout progress
Total body stretch movement: Allows training all muscle groups: arms, legs, abdominals and
waist and also provides fit back stretch.
Exclusive magnetic brake system : Provides quiet and smooth rowing through multiple tension
levels
Tension knob with 8 levels: Allows users to select suitable intensity of workout.
Aluminum sliding track: Extremely smooth, durable and no rust problem.
Ergonomic saddle : Comfortable and safe saddle helps users prolong training time
Telemetric pulse control (chest belt optional) : For an accurate and comfortable control of the
heart rate through the use of a chestbelt
Multi Functions: Frontal earflaps allow the possibility to make anaerobic training (i.e. biceps
curl).
Specification:
Weight: 26Kg / 57 lbs.
Flywheel weight: 5 kg / 11 lbs
Unfolded:
Length: 187 cm / 73.6”
Width: 58 cm / 22.8”
Height: 50 cm / 19.7”
139
Folded:
Length: 80 cm / 31.5”
Width: 58 cm / 22.8”
Height: 133 cm / 52.4”
G152X Home-Use Training Station
Specification
WEIGHT180 kg / 397 lbs.
LENGTH174 cm / 68.5"
WIDTH200 cm / 78.7"
HEIGHT212 cm / 83.5"
The most complete home-use training station.
Combines a multistation with a seated leg press and abdominal flexor with dip Exercise
control with a maximum tension of 100 kg / 221 lbs.
140
Ample weight for progressive training.
Adjustable seated leg press with holding grips.
Maximum comfort and protection while training Foldable seat.
The multi-gym takes up very little space Completely streamlined.
Greater protection and safety whilst exercising Controlled exercise.
Due to its exclusive guided work system, exercise can be done with maximum security Use
of CAMS.
These profiles help to make the exercise ergonomically Pulley system with bearings.
It provides very smooth and direct exercise Special metal protection.
Allows quality and rigidity with the best looking design.
SK2000TV Stepper R200TV
141
Variable geometry low-impact steps
Concealed transportation wheels
Top quality finishes on all components
The fully featured SK Line monitor and convenient Handpulse
Programs: 40 different programs including Fitness Test and HRC Heart
Rate Control (for working ‘cardiovascular target areas’)
HR Monitoring: Monitored pulse control: POLAR hand-grip system and
POLAR telemetric system (optional chest-band)
Equipped with TV monitor
Casing:Painted ABS plastic using automobile technology
Technology: Steady rate technology SCT
Workload System:Independent workload system
SK9900TV Recumbent BikeH990TV
Sliding motion and seat inclination controlled by reliable, precision
mechanisms
142
Ergonomically designed to provide easier use and total comfort
Rear seat fairing. Protection and stylish finish in a single component
2 SF (Double Speed Fan) for a rewarding exercise experience
The SK Line frame characteristic feature of a whole concept in
fitness
Programs: 40 different programs including Fitness Test and HRC Heart
Rate Control (for working ‘cardiovascular target areas’)
On-screen information: Time, distance, calories and pulse rate
HR Monitoring: Monitored pulse control: POLAR hand-grip system and
POLAR telemetric system (optional chest-band)
Equipped with TV monitor
Casing:Painted ABS plastic using automobile technology
Double “comfort” handlebar: “Comfort” with pulse sensors
Drive system: Easy maintenance Poly-V belt, with self tensioning system
143
2 machines in 1:the definitive fitness solution for women Exclusive and unique fitness
machine –combines the vibration platform's advantages with the benefits of a belt massage
machine
L:70 cm
W:64 cm
H:134 cm
Weight:52 kg
Belt massage machine
Helps to relax stiff muscles and sore joints. Ideal for use both before and
after exercising. Improves blood circulation.
Six speed motor
144
Offers controlled massage settings based on the user and application area.
3 massage and relax bands.
Designed to provide various types of massage to different parts of the
body.
Plexiglass platform and advanced stable structure.
Modern, attractive design for the home.
Fully enclosed and top quality material
Smooth, quiet operation
Indoor Cycle S3
Proven bicycle ergonomics and features, make this bike smooth, elegant and comfortable.
- Adjustable seat (vertical and horizontal) and handlebar (vertical) help users with different
body shapes to find the perfect riding position.
- Micro-Adjustable tension control knows provides smooth resistance and easy push-down
emergency braking.
- Compact design and build-in transport wheels allow users to work out anywhere, anytime.
145
Vibration Plate V109
The new Treo V109 Vibration plated, with their horizontal/ vertical movements, help
you lose weight and tone up your whole body. Combined with cardiovascular/ strength
routines, a controlled, balanced diet, you will start to look and feel great.
Features
Vibration type Horizontal
Color White
Vibration frequency 20 - 45 Hz
Programs 4 (Lower Body, Upper Body, Abdominals and Manual)
Speed Speed 1-16
No. of console 2
Handlebar Yes
146
Ab Coaster CS3000
The flagship product of the Ab Coaster Commercial Series product line has been re-
designed for 2010. The new features of the Ab Coaster 3000 include stainless steel rails for
an ultra-smooth ride, adjustable hand grips, and a free-style motion seat.
FEATURES:
Heavy-Duty Steel Construction
Stainless Steel Rails
Ultra-Glide Nylon Rollers
Sealed Steel Bearings
Urethane Molded Foam Arm Pads
Adjustable Hand Grips
Free-style Motion Seat
450 lb. User Weight Capacity
40 lb. Olympic Weight Capacity
Easy-Move Casters
Extended Warranty
147
Ab Circle Pro
The Ab Circle Pro is designed to be less taxing on the lower abdomen region while
giving the stomach muscles the same amount of exercise as achieved through conventional
modes. It is effectively the “treadmill for your abs”. Why perform countless crunches and sit-
ups when you can gyrate from side to side on the Ab Circle Pro and flatten down your
bulging tummy? Washboard abs are what any Ab Circle Pro review promises using a unique
friction free track that challenges the lower, middle and side abs while boosting the heart to
give you a complete cardio workout. The machine is also designed for obliques and it even
acts on the thighs, bums and hip regions. The Ab Circle Pro is fast, fun and relatively simple
to use. The Ab Circle Pro also provides you with three resistance levels for more challenging
workouts, and it features the much touted “Loose Your Love Handles” nutrition guide plus a
3 minute long “Express Workout” DVD.
Rip 60
148
Week 1: Wake Up Your Body :During week 1, you'll prepare
your body for the upcoming workouts. You'll learn specific movements to correct
common physical imbalances.
Week 2: Hyper Burn :Turn it up in week 2 with a workout that
increases your stability and endurance. You'll perform exercises longer and
strengthen your stabilizer muscles.
Week 3: Turn and Burn
This week is full of exercises that require longer reps for increased
endurance. You'll utilize the Optimization Zone principle for your
dramatic transformation.
Week 4: Recharge :This week is about recovery. Filled with yoga and tai
chi, week 4 will change up your routine and give your body a break.
Week 5: Build it up: This is the beginning of the hypertrophy phase or
muscle growth. You'll be introduced to heavier weight with accessories like
kettlebells and prepare your body for more power.
149
Week 6: Power and Strength: This week will focus on power
moves, introducing faster movements and more reps.
Week 7: Pedal to the Metal: The Explosive Moves DVD utilizes
the moves you learned in week 6 and integrates them into longer reps.
You'll work in the Optimization Zone again, adjusting your angle to
maximize muscle activation.
Week 8: The Peak :This is the finale workout, the DVD that brings it all together.
You'll combine the strength, power and endurance you've gained for a timed
assessment-the rip:60™ combination.
rip:60™ Power Yoga Workout DVD : This DVD is designed with
lengthening and strengthening moves to improve your overall
balance and physical wellbeing. It's perfect for recovery after your 8-week body
transformation!
rip:60™ for Runners Workout DVD : Strengthen your
stabilizer muscles with this DVD designed to enhance your running training. Led by
a rip:60™ expert, you'll get the expertise you need to train for success!
BodiProBodiRocker
150
Product Features
Simultaneously trains total upper body and core to deliver a 2-in-1 fat-burning workout!
Offers more than 70 exercises to help you strengthen abs, chest, arms, shoulders and
back.
Your core stabilizing muscles are engaged to control the rocking and twisting motions
offered by Bodi Rocker.
Built-in Bodi Balance Meter with multiple grip positions for full-body toning!
Bonus: Includes a set of 10-Minute Workout Cards and a 30-Exercise Workout DVD
151
Gym Ball
Product Description
Gym Ball / Exercise Ball/Yoga ball (EN71) _ For shaping, body building and fitness
purposes.
1)Material: Non-toxic PVC/Non-toxic Anti-burst PVC;
2)Diameter size: Φ45cm, Φ55cm, Φ65cm, Φ75cm, Φ85cm, Φ95cm Φ100cm, Φ120cm-
Φ150cm;
3)Weights: 550g, 650g, 750g, 850g, 900g, 1000g, 1100g, 1200g-2600g or customerized
weights;
4)Color: Any color available or customized color as your minds;
5)Logo print: Can print any of your company's logo on ball and pump;
6)Accessories: Pump( foot and hand) poster chart, disk, etc;
152
DesJoyaux Swimming Pool
Desco Casting
A strong and durable structure 10 year
guarantee under the verification of
Bureau Veritas, France
Pipeless Water Filtration System
Pipeless Water Filtration Unit is
Easy to maintain and crack free
No drilling and digging needed
Work silently and environmental friendly
Reinforced PVC Liner
Harmless and easy to clean up
Leakage protected
All colors and patterns of your choice
Lobby Area
153
The lobby area is for welcoming the customers and the office for servicing the customers
and to receive the customer’s order and complaint.
The Garden Area
We set up the park area at the top of the building so this is the recreational zone for the
customers.
The Garden Area
Outside of the Building
154
Chapter 6
Administration Analysis
Administration Analysis
155
Administration and Management Analysis
Our management can be analyzed in two ways as per following;
1. Business Pattern
2. Organization and Management
3. Human Resource Management
Business Pattern
We operate our business as the Partnership business pattern, According to the department
of the business development, ministry of commerce mentioned that there are 2 persons or above
willing to do the business together.
Organization and Management
Organization Chart
General Manager
Marketing and Sales
person
Butler
Engineering
Security
Finance and
Acounting
Receptionist
156
Human Resource Management
Employees Salaries for our organization
Year 1 Janurary
Feburary
March April May June July
August
September
October
November
December Totals
General Manager30,00
0 30,00030,00
030,00
030,00
030,00
030,00
030,00
0 30,00030,00
0 30,000 30,000360,00
0 Marketing department
120,000
120,000
120,000
120,000
120,000
120,000
120,000
120,000 120,000
120,000 120,000
120,000
1,440,000
Butler180,0
00180,00
0180,0
00180,0
00180,0
00180,0
00180,0
00180,0
00 180,000180,0
00 180,000180,00
02,160,0
00
Security40,00
0 40,00040,00
040,00
040,00
040,00
040,00
040,00
0 40,00040,00
0 40,000 40,000480,00
0Engineering & Maintenance
60,000 60,000
60,000
60,000
60,000
60,000
60,000
60,000 60,000
60,000 60,000 60,000
720,000
Financial & Accounting
20,000 20,000
20,000
20,000
20,000
20,000
20,000
20,000 20,000
20,000 20,000 20,000
240,000
Receptionists 36,00
0 36,00036,00
036,00
036,00
036,00
036,00
036,00
0 36,00036,00
0 36,000 36,000432,00
0
Totals 486,0
00486,00
0486,0
00486,0
00486,0
00486,0
00486,0
00486,0
00 486,000486,0
00 486,000486,00
05,832,0
00
- General Manager has to responsible for overall management of the organization (1 person)
- Marketing Department has to responsible for the sales call and creating the marketing strategic planning (10 persons)
- Butlers are the one who offer the personalized services to all customers at their rooms such as housekeeping, laundry and
public area and they must have a good command in English is preferable (20 persons)
- Engineering and Maintenance have to responsible for fixing and caring the equipment (7 persons).
157
- Financial and Accounting have to responsible to take care and control the finance (2 persons)
- Receptionist have to responsible to the collecting the money and customers service and they must have a god command in
English (3 persons)
- Security have to responsible for the security (5 persons)
158
Chapter 7
Financial Analysis
159
Profit-Loss Statement
Statement Of Profit-lossService Apartment
Year
1 2 3 4 5Revenue from operating Revenue from renting 44,160,000 58,200,000 66,720,000 66,720,000 66,720,000Revenue fron service 3,114,000 3,834,000 4,374,000 4,914,000 5,630,000Total Revenue 47,274,000 62,034,000 71,094,000 71,634,000 72,350,000 Expense for operating Salary and labor cost 5,832,000 5,832,000 5,832,000 6,240,000 6,240,000Depreciation 5,048,069.88 5,048,069.88 5,048,069.88 5,048,069.88 5,048,069.88Expense during operating 6,072,000 6,072,000 6,072,000 12,072,000 12,072,000
Total Expenses16,952,069.8
816,952,069.8
816,952,069.8
823,360,069.8
823,360,069.8
8
Profit from operating30,321,930.1
245,081,930.1
254,141,930.1
248,273,930.1
248,989,930.1
2Less; interest 3,032,193.01 4,508,193.01 5,414,193.01 4,872,393.01 4,898,993.01
Total Interst27,289,737.1
140,573,737.1
148,727,737.1
143,401,537.1
144,090,937.1
1 Less; interest 5% 2,728,973.71 4,057,373.71 4,872,773.71 4,344,653.71 4,409,093.71
profit (Loss)24,560,763.4
036,516,363.4
043,854,963.4
039,056,883.4
039,681,843.4
0Dividend Profit (loss) for the period has not been allocated Profit (loss) for the period has not been allocated
24,560,763.40
36,516,363.40
43,854,963.40
39,056,883.40
39,681,843.40
160
Year 1
161
Year 2
162
Year 3
163
Year 4
164
Year 5
165
Income Statement
Income Statement Service Apartment
Year1 Year2 Year3 Year4 Year5RevenueSales 44,160,000 58,200,000 66,720,000 66,720,000 66,720,000Service 3,114,000 3,834,000 4,374,000 4,914,000 5,630,000Total Revenue 47,274,000 62,034,000 71,094,000 71,634,000 72,350,000
Cost of Goods SoldLabor/ Salary 5,832,000 5,832,000 5,832,000 6,240,000 6,240,000Total Cost of Goods Sold 5,832,000 5,832,000 5,832,000 6,240,000 6,240,000
Gross Income 41,442,000 56,202,000 65,262,000 65,394,000 66,110,000
Operating Expenseexpense during operting 6,072,000 6,072,000 6,072,000 12,072,000 12,072,000Depreciation 5,048,069.88 5,048,069.88 5,048,069.88 5,048,069.88 5,048,069.88
Total OperatingExpense11,120,069.8
811,120,069.8
811,120,069.8
817,120,069.8
817,120,069.8
8
Net Income before Operating
30,321,930.12
45,081,930.12
54,141,930.12
48,273,930.12
48,989,930.12
Operating IncomeInterest expense 3,032,193.01 4,508,193.01 5,414,193.01 4,827,393.01 4,898,993.01Total Operating Income 3,032,193.01 4,508,193.01 5,414,193.01 4,827,393.01 4,898,993.01
Tax 7% 212,253.51 315,573.51 378,993.51 337,917.51 342,929.51
166
Net Income 2,819,939.50 4,192,619.50 5,035,199.50 4,489,475.50 4,556,063.50
Cash Flow
Cash flows from operating activities Beginning Year1 Year2 Year3 Year4 Year5 Total
Cash received from customers - 86,058,000
111,723,000
128,043,000
128,673,000
129,483,000
583,980,000
Cash paid for salary -
- 5,832,000
- 5,832,000
- 5,832,000
- 5,832,000
- 5,832,000
- 29,160,000
Expense during operation - - 6,072,000
- 6,072,000
- 6,072,000
- 6,072,000
- 6,072,000
- 30,360,000
Net cash used in operating activities - 74,154,000
99,819,000
116,139,000
116,769,000
117,579,000
524,460,000
Cash flow from investing activities Beginning Year1 Year2 Year3 Year4 Year5 Total
Cash paid for capital asset 130,560,000 - - - - -
130,560,000
Cash paid for fix asset 401,223,260 - - - - -
401,223,260
Net cash used in investing activities 531,783,260 - - - - -
531,783,260
Cash flows from financing activities Beginning Year1 Year2 Year3 Year4 Year5 Total
Payment of long-term borrowings 600,000,000
- 80,000,000
- 80,000,000
- 80,000,000
- 100,000,000
- 100,000,000
160,000,000
Payment of Dividend - - 33,000,000
- 31,200,000
- 26,400,000
- 21,600,000
- 15,600,000
-127,800,000
Net cash used in financing activities 600,000,000
-113,000,000
- 111,200,000
- 106,400,000
- 121,600,000
- 115,600,000
32,200,000
167
Year 1
168
Year 2
169
Year 3
170
Year 4
171
Year 5
172
Balance Sheet
Year 1
173
Year 2
174
Year 3
175
Year 4
176
Year 5
177
178
Chapter 8
Risk Management
179
Risk Management
Risk Management
Risk is an unwanted occurrence that we don’t need, it may be the mistakes, damaging
that could happen in the uncertain situation so the risks can be classified as external and internal
risks; although, the Institute of Small and Medium Enterprise Development mentioned that
serviced apartment and other apartment has low risks but we have to concern the risks.
External Risks
Economics
The external risks are the uncontrollable risks that could affect to the business organization
normally, serviced apartment business always face with the decreasing of the expatriates in
Bangkok so the risk factors that brings about the decreasing of the expatriates are Political and
Economic factors such as the FDI support policy is poor or the FDIs itself have a problem we
should change the target market immediately so we could try to target at the “niche market”
instead of the business expats so the niche market in Thonglor area is the medical tourists that
come to have the therapy in Thailand so this is the way to reduce the risks from Economics.
Political
This is the biggest threat that can’t avoid, from the past history the political uncertain in
Bangkok in 2010 brought about the decreasing of the occupancy rates and may bring about the
permanent decreasing of the occupancy rates in that specific area.
Environment
The Environmental threats can bring about the decreasing of the occupancy rates, If our
apartment were flooded, our apartment could be damaged so we need to have the insurance
policy for transfer the risk of flooding.
180
Internal Risks
Technological Used
We utilize the opportunities of 3G so we get the application for the customers so the system
could be failed; then, the customers can’t contact to us so we need to take care of the system
very well.
Safety Risks
The firing on the premise can be happen at all times so we need to hold the fire escape and
fire extinction planning for the customers’ safety and their life and purchase the insurance
package; moreover, the risks of flooding that can be transferred by purchasing the insurance
policy that transfer the risk of fire and other safety concern.
Human Resources
Human is very important to serviced apartment business and other kinds of service firm that
can create the competitive advantage for the organization itself so we need to focus on the
Human Resource Threats as the priority, the Human Resources Threats can be categorized as per
following
(1). Risks of the policy of the poor strategic HR planning and poor HR practices.
(2). Lack of the skilled labors in the labor market.
(3). Poor HR Functions
(4). Conflicts within the organization and organizational culture.
As we mentioned in the Risks of Human Resources, the organization have to action in
4 strategies as following;
(1). Employee Champion Strategy is the way to manage and force the employees to be
the good and valued employees
(2). Administrative Expert Strategy or so called the employees center strategy that make
the employees to have the competency in their job.
181
Sale decrease by 5% Income Statement
Income Statement Service Apartment
Year1 Year2 Year3 Year4 Year5Revenue Sales 44,160,000 58,200,000 66,720,000 66,720,000 66,720,000Service 3,114,000 3,834,000 4,374,000 4,914,000 5,630,000Total Revenue 47,274,000 62,034,000 71,094,000 71,634,000 72,350,000 Cost of Goods Sold Labor/ Salary 5,832,000 5,832,000 5,832,000 6,240,000 6,240,000Total Cost of Goods Sold 5,832,000 5,832,000 5,832,000 6,240,000 6,240,000 Gross Income 41,442,000 56,202,000 65,262,000 65,394,000 66,110,000 Operating Expense expense during operating 6,072,000 6,072,000 6,072,000 12,072,000 12,072,000Depreciation 5,048,069.88 5,048,069.88 5,048,069.88 5,048,069.88 5,048,069.88Total Operating Expense (Increased 15%)
12,788,080.36
12,788,080.36 1,278,808.36
19,688,080.36
17,120,069.88
Net Income before Operating28,653,919.6
443,413,919.6
463,983,191.6
445,705,919.6
448,989,930.1
2 Operating Income Interest expense (Decrease 5%) 2,880,583.36 4,282,783.36 5,143,483.36 4,875,666.89 4,654,043.36Total Operating Income 2,880,583.36 4,282,783.36 5,143,483.36 4,875,666.89 4,654,043.36 Tax 7% 201,640.84 299,794.84 360,043.84 341,296.68 325,783.04Net Income 3,082,224.19 4,582,578.19 5,503,527.19 5,216,963.57 4,979,826.39
182
Sale decrease by 10% Income Statement
Income Statement Service Apartment
Year1 Year2 Year3 Year4 Year5Revenue Sales 44,160,000 58,200,000 66,720,000 66,720,000 66,720,000Service 3,114,000 3,834,000 4,374,000 4,914,000 5,630,000Total Revenue 47,274,000 62,034,000 71,094,000 71,634,000 72,350,000 Cost of Goods Sold Labor/ Salary 5,832,000 5,832,000 5,832,000 6,240,000 6,240,000Total Cost of Goods Sold 5,832,000 5,832,000 5,832,000 6,240,000 6,240,000 Gross Income 41,442,000 56,202,000 65,262,000 65,394,000 66,110,000 Operating Expense expense during operating 6,072,000 6,072,000 6,072,000 12,072,000 12,072,000Depreciation 5,048,069.88 5,048,069.88 5,048,069.88 5,048,069.88 5,048,069.88Total Operating Expense (Increased 15%)
12,788,080.36
12,788,080.36 1,278,808.36
19,688,080.36
17,120,069.88
Net Income before Operating28,653,919.6
443,413,919.6
463,983,191.6
445,705,919.6
448,989,930.1
2 Operating Income Interest expense (Decrease 10%) 2,728,973.71 4,057,373.71 4,872,773.71 4,875,666.84 4,409,093.71Total Operating Income 2,728,973.71 4,057,373.71 4,872,773.71 4,875,666.84 4,409,093.71 Tax 7% 191,028.16 284,016.16 341,094.16 341,296.68 308,636.56Net Income 2,920,001.87 4,341,389.87 5,213,867.87 5,216,963.52 4,717,730.27
183
Sale decrease by 15% Income Statement
Income Statement Service Apartment
Year1 Year2 Year3 Year4 Year5Revenue Sales 44,160,000 58,200,000 66,720,000 66,720,000 66,720,000Service 3,114,000 3,834,000 4,374,000 4,914,000 5,630,000Total Revenue 47,274,000 62,034,000 71,094,000 71,634,000 72,350,000 Cost of Goods Sold Labor/ Salary 5,832,000 5,832,000 5,832,000 6,240,000 6,240,000Total Cost of Goods Sold 5,832,000 5,832,000 5,832,000 6,240,000 6,240,000 Gross Income 41,442,000 56,202,000 65,262,000 65,394,000 66,110,000 Operating Expense expense during operating 6,072,000 6,072,000 6,072,000 12,072,000 12,072,000Depreciation 5,048,069.88 5,048,069.88 5,048,069.88 5,048,069.88 5,048,069.88Total Operating Expense (Increased 15%)
12,788,080.36
12,788,080.36 1,278,808.36
19,688,080.36
17,120,069.88
Net Income before Operating28,653,919.6
443,413,919.6
463,983,191.6
445,705,919.6
448,989,930.1
2 Operating Income Interest expense (Decrease 15%) 2,577,364.06 3,831,964.06 4,602,064.06 4,875,666.79 4,164,144.06Total Operating Income 2,577,364.06 3,831,964.06 4,602,064.06 4,875,666.79 4,164,144.06 Tax 7% 180,415.48 268,237.48 322,144.48 341,296.68 291,490.08Net Income 2,757,779.54 4,100,201.54 4,924,208.54 5,216,963.47 4,455,634.14
184
Sale increase by 5% Income Statement
Income Statement Service Apartment
Year1 Year2 Year3 Year4 Year5Revenue Sales 44,160,000 58,200,000 66,720,000 66,720,000 66,720,000Service 3,114,000 3,834,000 4,374,000 4,914,000 5,630,000Total Revenue 47,274,000 62,034,000 71,094,000 71,634,000 72,350,000 Cost of Goods Sold Labor/ Salary 5,832,000 5,832,000 5,832,000 6,240,000 6,240,000Total Cost of Goods Sold 5,832,000 5,832,000 5,832,000 6,240,000 6,240,000 Gross Income 41,442,000 56,202,000 65,262,000 65,394,000 66,110,000 Operating Expense expense during operating 6,072,000 6,072,000 6,072,000 12,072,000 12,072,000Depreciation 5,048,069.88 5,048,069.88 5,048,069.88 5,048,069.88 5,048,069.88Total Operating Expense (Increased 5%)
11,176,073.37
11,176,073.37
11,176,073.37
17,976,073.37
17,976,073.37
Net Income before Operating30,265,926.6
345,025,926.6
354,085,926.6
347,417,926.6
348,133,926.6
3 Operating Income Interest expense (increase 5%) 3,183,802.66 3,183,802.66 3,183,802.66 3,183,802.66 3,183,802.66Total Operating Income 3,183,802.66 3,183,802.66 3,183,802.66 3,183,802.66 3,183,802.66 Tax 7% 222,866.19 222,866.19 222,866.19 222,866.19 222,866.19Net Income 3,406,668.85 3,406,668.85 3,406,668.85 3,406,668.85 3,406,668.85
185
Sale increase by10% Income Statement
Income Statement Service Apartment
Year1 Year2 Year3 Year4 Year5Revenue Sales 44,160,000 58,200,000 66,720,000 66,720,000 66,720,000Service 3,114,000 3,834,000 4,374,000 4,914,000 5,630,000Total Revenue 47,274,000 62,034,000 71,094,000 71,634,000 72,350,000 Cost of Goods Sold Labor/ Salary 5,832,000 5,832,000 5,832,000 6,240,000 6,240,000Total Cost of Goods Sold 5,832,000 5,832,000 5,832,000 6,240,000 6,240,000 Gross Income 41,442,000 56,202,000 65,262,000 65,394,000 66,110,000 Operating Expense expense during operating 6,072,000 6,072,000 6,072,000 12,072,000 12,072,000Depreciation 5,048,069.88 5,048,069.88 5,048,069.88 5,048,069.88 5,048,069.88Total Operating Expense (Increased 10%) 1,232,076.37 1,232,076.87 1,232,076.87
18,832,076.87 1,832,076.87
Net Income before Operating40,209,923.6
354,969,923.1
364,029,923.1
346,561,923.1
364,277,923.1
3 Operating Income Interest expense (increase 10%) 3,335,412.31 3,335,412.31 3,335,412.31 3,335,412.31 3,335,412.31Total Operating Income 3,335,412.31 3,335,412.31 3,335,412.31 3,335,412.31 3,335,412.31 Tax 7% 233,478.86 233,478.86 233,478.86 233,478.86 233,478.86Net Income 3,568,891.17 3,568,891.17 3,568,891.17 3,568,891.17 3,568,891.17
186
Sale increase by15% Income Statement
Income Statement Service Apartment
Year1 Year2 Year3 Year4 Year5Revenue Sales 44,160,000 58,200,000 66,720,000 66,720,000 66,720,000Service 3,114,000 3,834,000 4,374,000 4,914,000 5,630,000Total Revenue 47,274,000 62,034,000 71,094,000 71,634,000 72,350,000 Cost of Goods Sold Labor/ Salary 5,832,000 5,832,000 5,832,000 6,240,000 6,240,000Total Cost of Goods Sold 5,832,000 5,832,000 5,832,000 6,240,000 6,240,000 Gross Income 41,442,000 56,202,000 65,262,000 65,394,000 66,110,000 Operating Expense expense during operating 6,072,000 6,072,000 6,072,000 12,072,000 12,072,000Depreciation 5,048,069.88 5,048,069.88 5,048,069.88 5,048,069.88 5,048,069.88Total Operating Expense (Increased 15%)
12,788,080.36
12,788,080.36 1,278,808.36
19,688,080.36
17,120,069.88
Net Income before Operating28,653,919.6
443,413,919.6
463,983,191.6
445,705,919.6
448,989,930.1
2 Operating Income Interest expense (Decrease 15%) 3,487,021.96 3,487,021.96 3,487,021.96 3,487,021.96 3,487,021.96Total Operating Income 3,487,021.96 3,487,021.96 3,487,021.96 3,487,021.96 3,487,021.96 Tax 7% 244,091.54 244,091.54 244,091.54 244,091.54 244,091.54Net Income 3,731,113.50 3,731,113.50 3,731,113.50 3,731,113.50 3,731,113.50
187
Sale decrease by5% Cash Flow
Cash flows from operating activities Beginning Year1 Year2 Year3 Year4 Year5 Total
Cash received from customers - 81,755,100
106,136,850
121,640,850
122,239,350
123,008,850
554,781,000
Cash paid for salary -
- 5,832,000
- 5,832,000
- 5,832,000
- 5,832,000
- 5,832,000
- 29,160,000
Expense during operation - - 6,072,000
- 6,072,000
- 6,072,000
- 6,072,000
- 6,072,000
- 30,360,000
Net cash used in operating activities - 69,851,100
94,232,850
109,736,850
110,335,350
111,104,850
495,261,000
Cash flow from investing activities Beginning Total Total Total Total Total Total
Cash paid for capital asset 130,560,000
-
-
-
-
-
130,560,000
Cash paid for fix asset
401,223,260
-
-
-
-
-
401,223,260
Net cash used in investing activities 531,783,260
-
-
-
-
-
531,783,260
Cash flows from financing activities Beginning Total Total Total Total Total Total
Payment of long-term borrowings 600,000,000
- 80,000,000
- 80,000,000
- 80,000,000
- 100,000,000
- 100,000,000
160,000,000
Payment of Dividend
-
- 31,350,000
- 29,640,000
- 25,080,000
- 20,520,000
- 14,820,000
- 121,410,000
Net cash used in financing activities 600,000,000
- 111,350,000
- 109,640,000
- 105,080,000
- 120,520,000
- 114,820,000
38,590,000
188
Sale decrease by10% Cash Flow
Cash flows from operating activities Beginning Year1 Year2 Year3 Year4 Year5 Total
Cash received from customers - 77,452,200
100,550,700
115,238,700
115,805,700
116,534,700
525,582,000
Cash paid for salary -
- 5,832,000
- 5,832,000
- 5,832,000
- 5,832,000
- 5,832,000
- 29,160,000
Expense during operation - - 6,072,000
- 6,072,000
- 6,072,000
- 6,072,000
- 6,072,000
- 30,360,000
Net cash used in operating activities - 65,548,200
88,646,700
103,334,700
103,901,700
104,630,700
466,062,000
Cash flow from investing activities Beginning Year1 Year2 Year3 Year4 Year5 Total
Cash paid for capital asset 130,560,000
-
-
-
-
-
130,560,000
Cash paid for fix asset
401,223,260
-
-
-
-
-
401,223,260
Net cash used in investing activities 531,783,260
-
-
-
-
-
531,783,260
Cash flows from financing activities Beginning Year1 Year2 Year3 Year4 Year5 Total
Payment of long-term borrowings 600,000,000
- 80,000,000
- 80,000,000
- 80,000,000
- 100,000,000
- 100,000,000
160,000,000
Payment of Dividend
-
- 29,700,000
- 28,080,000
- 23,760,000
- 19,440,000
- 14,040,000
- 115,020,000
Net cash used in financing activities 600,000,000
- 109,700,000
- 108,080,000
- 103,760,000
- 119,440,000
- 114,040,000
44,980,000
189
Sale decrease by15% Cash Flow
Cash flows from operating activities Beginning Year1 Year2 Year3 Year4 Year5 Total
Cash received from customers - 73,149,300
94,964,550
108,836,550
109,372,050
110,060,550
496,383,000
Cash paid for salary -
- 5,832,000
- 5,832,000
- 5,832,000
- 5,832,000
- 5,832,000
- 29,160,000
Expense during operation - - 6,072,000
- 6,072,000
- 6,072,000
- 6,072,000
- 6,072,000
- 30,360,000
Net cash used in operating activities - 61,245,300
83,060,550
96,932,550
97,468,050
98,156,550
436,863,000
Cash flow from investing activities Total Total Total Total Total
Cash paid for capital asset 130,560,000
-
-
-
-
-
130,560,000
Cash paid for fix asset
401,223,260
-
-
-
-
-
401,223,260
Net cash used in investing activities 531,783,260
-
-
-
-
-
531,783,260
Cash flows from financing activities Total Total Total Total Total
Payment of long-term borrowings 600,000,000
- 80,000,000
- 80,000,000
- 80,000,000
- 100,000,000
- 100,000,000
160,000,000
Payment of Dividend
-
- 28,050,000
- 26,520,000
- 22,440,000
- 18,360,000
- 13,260,000
- 108,630,000
Net cash used in financing activities 600,000,000
- 108,050,000
- 106,520,000
- 102,440,000
- 118,360,000
- 113,260,000
51,370,000
190
Sale increase by5% Cash Flow
Cash flows from operating activities Beginning Year1 Year2 Year3 Year4 Year5 Total
Cash received from customers - 90,360,900
117,309,150
134,445,150
135,106,650
135,957,150
613,179,000
Cash paid for salary -
- 5,832,000
- 5,832,000
- 5,832,000
- 5,832,000
- 5,832,000
- 29,160,000
Expense during operation - - 6,072,000
- 6,072,000
- 6,072,000
- 6,072,000
- 6,072,000
- 30,360,000
Net cash used in operating activities - 78,456,900
105,405,150
122,541,150
123,202,650
124,053,150
553,659,000
Cash flow from investing activities Beginning Total Total Total Total Total Total
Cash paid for capital asset 130,560,000
-
-
-
-
-
130,560,000
Cash paid for fix asset
401,223,260
-
-
-
-
-
401,223,260
Net cash used in investing activities 531,783,260
-
-
-
-
-
531,783,260
Cash flows from financing activities Beginning Total Total Total Total Total Total
Payment of long-term borrowings 600,000,000
- 80,000,000
- 80,000,000
- 80,000,000
- 100,000,000
- 100,000,000
160,000,000
Payment of Dividend
-
- 34,650,000
- 32,760,000
- 27,720,000
- 22,680,000
- 16,380,000
- 134,190,000
Net cash used in financing activities 600,000,000
- 114,650,000
- 112,760,000
- 107,720,000
- 122,680,000
- 116,380,000
25,810,000
191
Sale increase by10% Cash Flow
Cash flows from operating activities Beginning Year1 Year2 Year3 Year4 Year5 Total
Cash received from customers - 94,663,800
122,895,300
140,847,300
141,540,300
142,431,300
642,378,000
Cash paid for salary -
- 5,832,000
- 5,832,000
- 5,832,000
- 5,832,000
- 5,832,000
- 29,160,000
Expense during operation - - 6,072,000
- 6,072,000
- 6,072,000
- 6,072,000
- 6,072,000
- 30,360,000
Net cash used in operating activities - 82,759,800
110,991,300
128,943,300
129,636,300
130,527,300
582,858,000
Cash flow from investing activities Beginning Total Total Total Total Total Total
Cash paid for capital asset 130,560,000
-
-
-
-
-
130,560,000
Cash paid for fix asset
401,223,260
-
-
-
-
-
401,223,260
Net cash used in investing activities 531,783,260
-
-
-
-
-
531,783,260
Cash flows from financing activities Beginning Total Total Total Total Total Total
Payment of long-term borrowings 600,000,000
- 80,000,000
- 80,000,000
- 80,000,000
- 100,000,000
- 100,000,000
160,000,000
Payment of Dividend
-
- 36,300,000
- 34,320,000
- 29,040,000
- 23,760,000
- 17,160,000
- 140,580,000
Net cash used in financing activities 600,000,000
- 116,300,000
- 114,320,000
- 109,040,000
- 123,760,000
- 117,160,000
19,420,000
192
Sale increase by15% Cash Flow
Cash flows from operating activities Beginning Year1 Year2 Year3 Year4 Year5 Total
Cash received from customers - 98,966,700
128,481,450
147,249,450
147,973,950
148,905,450
671,577,000
Cash paid for salary -
- 5,832,000
- 5,832,000
- 5,832,000
- 5,832,000
- 5,832,000
- 29,160,000
Expense during operation - - 6,072,000
- 6,072,000
- 6,072,000
- 6,072,000
- 6,072,000
- 30,360,000
Net cash used in operating activities - 87,062,700
116,577,450
135,345,450
136,069,950
137,001,450
612,057,000
Cash flow from investing activities Beginning Total Total Total Total Total Total
Cash paid for capital asset 130,560,000
-
-
-
-
-
130,560,000
Cash paid for fix asset
401,223,260
-
-
-
-
-
401,223,260
Net cash used in investing activities 531,783,260
-
-
-
-
-
531,783,260
Cash flows from financing activities Beginning Total Total Total Total Total Total
Payment of long-term borrowings 600,000,000
- 80,000,000
- 80,000,000
- 80,000,000
- 100,000,000
- 100,000,000
160,000,000
Payment of Dividend
-
- 37,950,000
- 35,880,000
- 30,360,000
- 24,840,000
- 17,940,000
- 146,970,000
Net cash used in financing activities 600,000,000
- 117,950,000
- 115,880,000
- 110,360,000
- 124,840,000
- 117,940,000
13,030,000
193
Summary
194
Summary
According to the globalization there are a lot of foreign people who work and stay in
Thailand so this group is called “expatriates” or so called “expats” for short, these expats come
with the Foreign Direct Investor ( FDI ) from other countries so according to the Work Permit
Administration , Ministry of Labor, Thailand declared that the main expat group is the Japanese
expat along with their family members this is the main expat group. Serviced apartment is the
apartment that is designed for target at expatriates who work and stay in Thailand so the main
market of the serviced apartment is in Bangkok and normally the zones of serviced apartments
are Early Sukhumvit Area, Late Sukhumvit Area, Central Business District , since the year 2010
the demand of the serviced apartment was shifted from Central Business District and Early
Sukhumvit Area to Late Shukhumvit Area especially in Thonglor road where is the trendiest and
the new prime area of Bangkok where has a good transportation systems and a lot of trendy retail
shops and this is the central area for expatriates especially the Japanese expatriates so Thonglor
is our location for our serviced apartment is located. We offer the wide range of services such as
the wide range of rooms and services. We invested 531,783,261 baht we invest in the building
and equipments such as the furniture and the equipments throughout the building and the internet
setting up throughout the building so we are the serviced business we have a lot of the
equipments and in-room facilities and during the operation the project 122,760,000 baht per year
after the ASEAN Community is opened ; however, the serviced apartment and apartment
business has low level of the risk we still have to prepare our self for the risks and negative
uncertain situation.
195
Reference
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5. ภี#ม ล�$วิลม, กิารศึ0กิษาควิามเป2นไปได+ในกิารลงที่นในธุรกิ�จหอ็พั�กิเอ็กิชนบูร�เวิณมหาวิ�ที่ยล�ยธุรรมสุาสุติร�ศึ�นย�ร�งสุ�ติ จ�งหวิ�ดปที่มธุาน# วิ�ที่ยาน�พันธุ� มหาวิ�ที่ยาล�ยเช#ยงใหม�
6. Roger A. Kerin. Marketing in Asia. 2nd ed. Singapore; Mc GrawHill7. Kotler, Marketing for Hospitality and Tourism
8. กิารลงที่นจากิติ�างประเที่ศึขอ็งประเที่ศึสุมาช�กิอ็าเซี#ยน ( ระบูบูอ็อ็นไลน�) www.thai-aec.com
กิ�นยายน 2555
9. พัฤติ�กิรรมผู้�+บูร�โภีคในอ็าเซี#ยน ติ�วิแปรที่#$สุ6าค�ญที่#$ธุรกิ�จขนาดกิลางและขนาดย�อ็มควิรร� +กิ�อ็นเกิ�าเข+าสุ�� AEC(ระบูบูอ็อ็นไลน�) www.takchamber.com
10. Colliers International Market Report on Serviced Apartment in Bangkok
11. Ksmecare (อ็อ็นไลน�) ธุรกิ�จเวิอ็ร�วิ�สุอ็พัารที่�เม+นที่�กิ�บูกิารเข+าสุ��ประชาคมอ็าเซี#ยน พั.ศึ. 2558
12. กิระบูวินกิารติ�ดสุ�นใจเช�าเซีอ็ร�วิ�สุอ็พัารที่�เม+นที่�ระด�บูบูนขอ็งชาวิติ�างชาติ�ติามเสุ+นที่างรถไฟฟ9าบู#ที่#เอ็สุสุายสุขมวิ�ที่ , ชวิล�กิษณ� ภี�ภี�ม�เข#ยวิ ,งานวิ�จ�ยมหาวิ�ที่ยาล�ยราชภี�ฏินครสุวิรรค�
13. เช�าอ็าพัารที่�เม+นที่�.;วิ�ที่ยาน�พันธุ�เศึรษฐศึาสุติร�บู�ณฑิ�ติ มหาวิ�ที่ยาล�ยหอ็กิารค+าไที่ย(2549)
14. สุวิ�ยดา สุ�งเจ�ม (2546) ป<จจ�ยที่#$ม#ผู้ลติ�อ็กิารเข+าพั�กิเกิสุติ�เฮ้+าสุ�ย�านสุขมวิ�ที่ขอ็งน�กิที่�อ็งเที่#$ยวิชาวิติ�างชาติ� . สุารน�นธุ� มหาวิ�ที่ยาล�ยศึร#นคร�นที่รวิ�โรฒ
15. ควิามคาดหวิ�งและควิามพั0งพัอ็ใจติ�อ็คณสุมบู�ติ�ขอ็งผู้�+จบูกิารศึ0กิษาด+านญ#$ป>นศึ0กิษาในประเที่ศึไที่ย,
สุ6าน�กิวิ�จ�ย, สุถาบู�นบู�ณฑิ�ติพั�ฒนบูร�หารศึาสุติร� 16. Maketeer Magazine, พัฤติ�กิรรมผู้�+บูร�โภีคยานที่อ็งหล�อ็
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1. Miss Jittra Kaewchalua 51312070432. Mr. Apimouk Kumsura 53312070503. Miss Kanrawee Keeratinirandorm 53312070054. Miss Yodsawadee Sidtisa-nguanpan 53312070335. Miss Mookparat Promariva 53312070376. Miss Saifon Saeching 53312070417. Miss Ei Nang Woe Tit 53312070588. Mr. Sai Han Woon 5331207066
School of Management
Major Hospitality Industry Management
Mae Fah Luang University
Semester 2, Academic Year 2012