Record Details

The Cost and Return on Guesthouse Business in Chiang Mai, Thailand

Asian Journal of Business and Management

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Field Value
 
Title The Cost and Return on Guesthouse Business in Chiang Mai, Thailand
 
Creator Akintunde, Olufemi
 
Subject Cost
Return
Guesthouse
Chiang Mai Initiative
Thailand Privilege Card
 
Description In Thailand the main income is tourism and Thailand government motivates tourists around the world to travel to Thailand by promoting and pushing “Thailand Privilege Card†for priority services. The accommodation businesses have benefited from tourism industry due to many visitors looking for where to stay. In other word, the earning of guesthouse business depends on the number of tourists. In addition, Chiang Mai is the second biggest city in Thailand and they are many tourists from difference country and part of the country visiting Chiang Mai.The investor who intends to operate guesthouse business in Chiang Mai has to consider the cost and return on guesthouse business. The small guesthouse consist of (1 – 20 rooms) has an investment cost of about 4,075,288.69 baht, with income per year average of 1,270,381.13 baht and net profit per year about 476,705.62 baht.Moreover, the large guesthouse consist of (21 – 40 rooms) and has an investment cost of about 12,920,388.90 baht, with income per year average 3,520,550.00 baht and net profit per year about 1,799.968.89 baht. To choose what size of guesthouse an entrepreneur can be able to invest in depends on his/her capital and the expected return from business, as each guesthouse rate per room depends on many factor namely decoration, location and service provider.
 
Publisher Asian Online Journals
 
Date 2013-08-30
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
 
Format application/pdf
 
Identifier https://ajouronline.com/index.php/AJBM/article/view/269
 
Source Asian Journal of Business and Management; Vol. 1 No. 3 (2013): August 2013
2321-2802
 
Language eng
 
Relation https://ajouronline.com/index.php/AJBM/article/view/269/194