Tu 2021 6302043564 15415 19453

A BUSINESS PLAN FOR HOTEL & SERVICED APARTMENTS
IN CHANTHABURI, THAILAND
BY
MISS PAVAREE BUNKHUM
AN INDEPENDENT STUDY SUBMITTED IN PARTIAL FULFILLMENT OF THE

REQUIREMENTS FOR THE DEGREE OF MASTER OF BUSINESS
ADMINISTRATION PROGRAM IN
GLOBAL BUSINESS MANAGEMENT (INTERNATIONAL PROGRAM)
FACULTY OF COMMERCE AND ACCOUNTANCY
THAMMASAT UNIVERSITY
ACADEMIC YEAR 2021
COPYRIGHT OF THAMMASAT UNIVERSITY
Ref. code: 25646302043564HTK

BY
AN INDEPENDENT STUDY SUBMITTED IN PARTIAL FULFILLMENT OF THE

REQUIREMENTS FOR THE DEGREE OF MASTER OF BUSINESS
ADMINISTRATION PROGRAM IN
GLOBAL BUSINESS MANAGEMENT (INTERNATIONAL PROGRAM)
ACADEMIC YEAR 2021
COPYRIGHT OF THAMMASAT UNIVERSITY
Ref. code: 25646302043564HTK

INDEPENDENT STUDY
BY
ENTITLED

was approved as partial fulfillment of the requirements for the degree of Master of
Business Administration Program in Global Business Management
(International Program)
on May 9, 2022
Chairman _______________________________________________
(Assistant Professor Pattana Boonchoo, Ph.D.)
Member and Advisor _______________________________________________

(Associate Professor Suthisak Kraisornsuthasinee, Ph.D.)
Dean _______________________________________________
(Professor Ruth Banomyong, Ph.D.)
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Independent Study Title A BUSINESS PLAN FOR HOTEL & SERVICED APARTMENTS
Author Miss Pavaree Bunkhum
Degree Master of Business Administration in Global Business
Management (International Program)
Faculty/University Faculty of Commerce and Accountancy
Thammasat University
Independent Study Advisor Associate Professor Suthisak Kraisornsuthasinee, Ph.D.
Academic Year 2021
ABSTRACT
The Blue Water Vibe Hotel & Serviced Apartments Business Plan is
intended to serve as a guideline for the expansion of the existing business, Water Vibe
Hotel. Established in 2015, Water Vibe Hotel is located in Talat Subdistrict, Mueang
Chanthaburi District, Chanthaburi province. With great location, architecture, service,
and 7 years of experience, Water Vibe Hotel is now rated a 4-star hotel of Chanthaburi.
However, the growth and expansion of the hotel is capped due to the limited number
of available rooms of 40 and a 100 pax conference hall. This makes the hotel lose
some of the potential customers due to insufficient accommodation and conference
rooms to meet the needs of customers.
On the other hand, when studying the demand for hotels and
accommodation in Chanthaburi, it was found that the number of visitors and hotel
occupancy rates in Chanthaburi have grown on a continuous basis, with an average
growth of 9.93% and 9.29% per year, respectively. It is also likely to increase in the
future as a result of the growth in the provincial agricultural industry and support from
the government for both secondary city tourism projects, and the Eastern Economic
Corridor (EEC) projects, etc. Considering the excessive demand and possible future
growth of Chanthaburi’s hospitality industry, the Blue Water Vibe Hotel & Serviced
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Apartments project involves a newly built structure in the vicinity of the former Water
Vibe Hotel building with the objective to expand the number of rooms and conference
rooms to accommodate more users. The project will consist of 33 hotel rooms, 22
serviced apartments, and 3 conference rooms, in a 7-storey building, targeting Thais
and foreign tourists and employees with middle to high income, who like to travel by
themselves, as a couple, or in a group. Their objectives may be based on leisure or
work-related.
The Blue Water Vibe Hotel & Serviced Apartments business plan covers a
comprehensive analysis of internal and external environment, industry trends,
demands and needs of the guests, marketing strategies, accommodation management
process, service control processes, human resource management, and financial
strategies, in order to create a competitive advantage and to analyze the project’s
feasibility.
The feasibility study and financial plan of the Blue Water Vibe Hotel &
Serviced Apartments revealed that the project requires an investment of 115,486,800
baht. In a base case, the net present value (NPV) was found to be 566,039,933 baht
and the project's internal rate of return (IRR) was established at 48.62%, which is higher
than the weighted average cost of capital (WACC) of 5.65% and a payback period of
5.7 years, thus, demonstrating the attractiveness and investment value of the project.
Keywords: Feasibility Study, Expansion Plan, Accommodation, Tourism, Chanthaburi
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ACKNOWLEDGEMENTS
The successful completion of this independent study could not be

completed without the benevolence and advice of Assoc. Prof. Dr. Suthisak
Kraisornsuthasinee, the Independent Study Advisor, for providing knowledge and useful
guidelines for the preparation of this business plan. Mention must also be made to
Asst. Prof. Dr. Pattana Boonchoo, a member of the IS Committee, who also provided
additional useful advice and suggestions, thus ensuring a more comprehensive study.
The researcher would also like to express her deepest gratitude to both instructors for
this opportunity.
In addition, the researcher would like to thank the instructors of the Master
of Business Administration program at the Faculty of Commerce and Accountancy,
Thammasat University, who have imparted valuable knowledge and experience
throughout the course of study, as well as other colleagues of the university staff for
their assistance and facilitating the study and the associated efforts.
The researcher would also like to thank my family for their continued
understanding and encouragement. My appreciation also goes out to all of my Batch
6-8 GEMBA friends who have shared their knowledge and experiences over the past
1.5 years. The researcher would like to thank all informants and respondents for taking
the time to provide useful information in the preparation of the business plan, as well
as all those involved who helped complete this business plan. If there have been any
shortcomings in this business plan, the researcher would like to accept all
responsibilities and apologize for any drawbacks.
Miss Pavaree Bunkhum
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TABLE OF CONTENTS
Page
ABSTRACT (1)
ACKNOWLEDGEMENTS (3)
LIST OF TABLES (8)
LIST OF FIGURES (15)
LIST OF ABBREVIATIONS (18)
CHAPTER 1 INTRODUCTION 1
1.1 Business Overview 1

1.2 Scope of Business 3
1.3 Business Model 10
CHAPTER 2 ENVIRONMENTAL EVALUATION 14
2.1 Industry Analysis 14

2.2 Industry Structure 15
2.2.1 Hotel 16
2.2.2 Serviced Apartment 16
2.3 External Environmental Analysis (PESTEL Analysis) 16
2.3.1 Political 16
2.3.2 Economic 18
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2.3.3 Social 20
2.3.4 Technology 21
2.3.5 Environment 22
2.3.6 Legal 22
2.4 Evaluation of Interest of Industry (Porter’s Five Forces Analysis) 23
2.4.1 Bargaining Power of Customers 23
2.4.2 Bargaining Power of Suppliers 24
2.4.3 Rivalry among Current Competitors 25
2.4.4 Threat of New Entrants 26
2.4.5 Threat of Substitutes 26
CHAPTER 3 INTERNAL EVALUATION 28
3.1 Business Description 28

3.1.1 Business Name 29
3.1.2 Logo 29
3.1.3 Business Location 30
3.1.3.1 Property Boundary 31
3.1.3.2 Present Land Use 32
3.1.3.3 Accessibility 33
3.1.3.4 Distance to Surroundings 34
3.2 Vision, Mission, and Goals 36
3.2.1 Vision 36
3.2.2 Mission 36
3.2.3 Goals 36
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3.2.3.1 Short Term Goals (1-2 years) 36

3.2.3.2 Medium Term Goals (3-5 years) 37
3.3 Competitor Analysis 37
3.3.1 Direct Competitors 37
3.3.2 Indirect Competitors 40
3.3.2.1 Indirect Competitors of Hotel 41
3.3.2.2 Indirect Competitors of Serviced Apartments 44
3.4 SWOT Analysis 49
3.4.1 Strengths 49
3.4.2 Weaknesses 49
3.4.3 Opportunities 50
3.4.4 Threats 51
3.5 Strategic Business Management Approaches 53
3.5.1 Corporate-Level Strategy 53
3.5.2 Business Level Strategy 54
3.5.3 Functional Level Strategy 54
CHAPTER 4 MARKET RESEARCH 56
4.1 Research Objectives 56

4.2 Expected Outcomes 56
4.3 Research Scope 57
4.4 Literature Review 57
4.4.1 Marketing Mix Theory 57
4.4.1.1 Product 57
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4.4.1.2 Price 57
4.4.1.3 Place 58
4.4.1.4 Promotion 58
4.4.1.5 People 58
4.4.1.6 Process 58
4.4.1.7 Physical Evidence and Presentation 58
4.4.2 The Demographic Theory 59
4.4.2.1 Age 59
4.4.2.2 Gender 59
4.4.2.3 Marital Status 60
4.4.2.4 Education 60
4.4.2.5 Occupation 60
4.4.2.6 Income 60
4.5 Primary Data Study 61
4.5.1 Qualitative Research 61
4.5.1.1 Research Methodology 61
4.5.1.2 Research Tools 61
4.5.2 Quantitative Research 62
4.5.2.1 Research Methodology 62
4.5.2.2 Research Tools 63
4.6 Research Results 63
4.6.1 Qualitative Research 63
4.6.1 Quantitative Research 67
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CHAPTER 5 MARKETING STRATEGIES 78
5.1 Target Market 78

5.1.1 Target Market of the Hotel Segment 78
5.1.1.1 Primary Target 78
5.1.1.2 Secondary Target 78
5.1.2 Target Market of the Serviced Apartment Segment 79
5.1.2.1 Primary Target 79
5.2 Market Positioning 79
5.2.1 Market Positioning of the Hotel Segment 80
5.2.2 Market Positioning of the Serviced Apartment Segment 81
5.3 Marketing Mix (7 Ps) 82
5.3.1 Product 82
5.3.1.1 Project Planning 83
5.3.1.2 Rooms 85
5.3.1.2 Room Amenities 89
5.3.1.3 Common Area 90
5.3.1.4 Service 96
5.3.2 Price 98
5.3.2.1 Hotel Daily Room Rates 98
5.3.2.2 Serviced Apartment Monthly Room Rates 100
5.3.3 Place 101
5.3.4 Promotion 103
5.3.4.1 Advertising 104
5.3.4.2 Personal Selling 107
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5.3.4.3. Direct Marketing 108

5.3.4.4 Influencer Marketing 108
5.3.4.5 Public Relations 109
5.3.4.6 Sales Promotions 109
5.3.4.7 Referral Program 111
5.3.4.8 Customer Loyalty Program 111
5.3.5 People 112
5.3.6 Process 113
5.3.6.1 Advance Booking Process 113
5.3.6.2 Guest Pre-Arrival Process 114
5.3.6.3 Staff Service Process 114
5.3.6.4 System for Service Assessment and Listening to Opinions 115
5.3.6.5 Customer Data Protection 115
5.3.6.6 Measures to Prevent and Contain the Spread of the 115
COVID-19 Virus
5.3.7 Physical Evidence 116
5.3.7.1 Design Format 116
5.3.7.2 Arrangement of the Surrounding Area 116
5.3.7.3 Security System 117
CHAPTER 6 OPERATIONS STRATEGY 118
6.1 Pre-Establishment Plan 118

6.1.1 Legal Permissibility Study 118
6.2 Construction Plan 118
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6.2.1 Relevant laws 118

5.2.2 Construction process 119
5.2.3 Construction operations 120
5.2.4 Applying for a hotel business license 120
6.3 Operation Plan 121
6.3.1. Room Reservation and Payment 121
6.3.2 Welcome and registration 122
6.3.3 Housekeeping Service 123
6.3.4 Food and Beverage Service 124
6.3.4.1. Breakfast Service 124
6.3.4.2 Lunch and Dinner Service 124
6.1.4.3 Room Service 125
6.1.4.4 Conference Room Service 125
6.3.5 Room Returns and Receiving Payments from the Customers 125
6.3.6 Receiving complaints 126
6.4 Equipment, Raw Materials, and Beverages Procurement Process 127
6.4.1 Consumable Raw Materials, Consumables, and Packaging 127
6.4.1.1 Procurement of Fresh Food Ingredients 127
6.4.1.2 Purchasing Dried Food, Bottled Drinks, Consumables 128
and Packaging
6.4.2 Purchasing non-inventory items 128
CHAPTER 7 HUMAN RESOURCES STRATEGY 130
7.1 Human Resources Management Objectives 130
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7.2 Organizational Structure 130

7.3 Manpower Planning 131
7.4 Work schedule management 133
7.5 Staff Recruitment and Selection Process 134
7.5.1 Staff Recruitment 134
7.5.2 Staff selection process 135
7.6 Staff Training 136
7.6.1 Staff Orientation 136
7.6.2 Skill Development Training 137
7.7 Performance Appraisal 137
7.8 Staff Remuneration and Benefits 138
7.8.1 Remuneration 138
7.8.2 Social Security 140
7.8.3 Service Charge 140
7.8.4 Employee Welfare and enefits 141
CHAPTER 8 FINANCIAL STRATEGY 142
8.1 Financial Objectives and Goals 142

8.1.1 Financial Objectives 142
8.1.2 Financial Goals 142
8.2 Establishing Financial Assumptions 143
8.2.1 Capital Sources and Structure 143
8.2.2 Weighted Average Cost of Capital 143
8.2.2.1 Cost of Debt : Rd 143
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8.2.2.2 Cost of Equity: Re 143

8.2.2.3 Weighted Average Cost of Capital: WACC 144
8.2.3 Income Projections 144
8.2.4 Investment Projections 149
8.2.5 Cost Projections 150
8.2.6 Operating Expenses Projections 151
8.2.6.1 Distribution Costs 151
8.2.6.2 Administrative Costs 152
8.2.6.3 Asset Depreciation 153
8.2.6.4 Financial Costs 154
8.3 Analysis of Financial Returns 155
8.3.1 Income Statement 155
8.3.2 Balance Sheet 157
8.3.3 Free Cash Flow 158
8.4 Sensitivity Analysis 158
8.4.1 Base Case Scenario 158
8.4.2 Best Case Scenario 159
8.4.3 Worst Case Scenario 160
CHAPTER 9 EVALUATION & CONTINGENCY PLAN 163
9.1 Evaluation 163

9.1.1 Sales and Marketing 163
9.1.2 Operation 164
9.1.3 Human Resources 164
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9.1.4 Finance 165

9.2 Contingency Plan 165
9.2.1 Marketing Plan 166
9.2.2 Operational Plan 167
9.2.3 Financial plan 168
REFERENCES 169
APPENDICES 173
APPENDIX A 174
APPENDIX B 176
APPENDIX C 1811
APPENDIX D 185
APPENDIX E 188
APPENDIX F 190
APPENDIX G 192
APPENDIX H 195
APPENDIX I 198
APPENDIX J 201
APPENDIX K 209
APPENDIX L 217
APPENDIX M 220
APPENDIX N 227
APPENDIX O 235
APPENDIX P 237
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APPENDIX Q 238
APPENDIX R 239
APPENDIX S 241
APPENDIX T 243
BIOGRAPHY 244
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LIST OF TABLES
Tables Page
1.1 Floor Space Utilization of Blue Water Vibe Hotel & Serviced Apartments 8
1.2 Room Type and Room Capacity of Water Vibe Hotel and Blue Water 9
Vibe Hotel & Serviced Apartments
1.3 Business Model Canvas for Hotel’s Primary Target Customer 11
1.4 Business Model Canvas for Hotel’s Secondary Target Customer 12
1.5 Business Model Canvas for Serviced Apartments’ Primary 13
Target Customer
3.1 Dimensions and Boundaries of Rimnaam Hotel & Serviced Apartments 31
3.2 Distance from Blue Water Vibe Hotel & Serviced Apartments 35
to Major Landmarks in Chanthaburi
3.3 Direct Competitor Analysis of Rimnaam Hotel & Serviced Apartments 38
3.4 Indirect Competitor Analysis of Rimnaam Hotel & 41
Serviced Apartments – Hotel Business
3.5 Indirect Competitor Analysis of Rimnaam Hotel & Serviced Apartments 44
Serviced Apartment Business
4.1 Qualitative Research Results 63
4.2 Number and Percentage of Visitors Who Have Stayed at Hotels in 67
Chanthaburi, Rayong, and Trat Provinces
4.3 Number and Percentage of Visitors Who Used to Rent Long-Term 68
Accommodation in Chanthaburi, Rayong, and Trat Provinces
4.4 Mean and Standard Deviation of Hotel Marketing Mix 71
4.5 Mean and Standard Deviation of Long-Term Accommodation 72
Marketing Mix
4.6 Mean and Standard Deviation of Hotel Stay Decisions in Chanthaburi, 72
Rayong, and Trat Provinces
4.7 Mean and Standard Deviation of Long-Term Accommodation Rental 73
Decisions in Chanthaburi, Rayong, and Trat Provinces
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4.8 One-way ANOVA of Different Age Groups in the Decision to Select a 74

Hotel
4.9 One-way ANOVA of Different Age Groups in Long-Term Stay Decisions 74
4.10 One-way ANOVA of Different Income Groups in Long-Term Stay Decisions 75
4.11 Analysis of Marketing Mix Factors Influencing the Decision to Choose 75
a Hotel
4.12 Analysis of Marketing Mix Factors Influencing the Decision to Choose 76
a Long-Term Accommodation
5.1 Details of the Project 83
5.2 Building Plan of Blue Water Vibe Hotel & Serviced Apartments 84
5.3 Blue Water Vibe Hotel & Serviced Apartments’ Room Type 85
5.4 List of Blue Water Vibe Hotel & Serviced Apartments’ In-Room Amenities 90
5.5 Blue Water Vibe Hotel & Serviced Apartments’ Shared and Separated 91
Facilities
5.6 Food and Beverage Services at Blue Water Vibe Hotel & 96
Serviced Apartments
5.7 Capacity of Conference Rooms Classified by Type of Event 97
5.8 Starting Rates for Blue Water Vibe Hotel & Serviced Apartments and 99
Water Vibe Hotel
5.9 Monthly Room Rates of the Serviced Apartments 100
5.10 Relationship Between Marketing Objectives and Promotional Activities 103
5.11 Marketing Promotions Action Plan During the First 2 Years of Operations 112
7.1 Manpower Planning of Water Vibe Hotel and Rimnaam Hotel 131
& Serviced Apartments
7.2 Compensation Rates for Blue Water Vibe Hotel & Serviced Apartments 138
Employees
8.1 Structure and Cost of Capital of Blue Water Vibe Hotel & Serviced 144
Apartments
8.2 Estimated Occupancy Rate and Room Revenue in Year 1 146
8.3 Projected Income from Room Occupancy and Other Revenues in Year 1 147
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8.4 Blue Water Vibe Hotel & Serviced Apartments’ 5-Year Income Projections 148
8.5 Blue Water Vibe Hotel & Serviced Apartments’ Initial Investment 149
Projections
8.6 Blue Water Vibe Hotel & Serviced Apartments’ Estimated 5-year 151
Distribution Costs
8.7 Blue Water Vibe Hotel & Serviced Apartments’ Estimated 5-year 153
Administrative Costs
8.8 Blue Water Vibe Hotel & Serviced Apartments’ Estimated Annual 154
Asset Depreciation
8.9 Blue Water Vibe Hotel & Serviced Apartments’ Interest on Long-Term 155
Loans for Year 1-5
8.10 Blue Water Vibe Hotel & Serviced Apartments’ Income Statement 155
8.11 Blue Water Vibe Hotel & Serviced Apartments’ Balance Sheet 157
8.12 Blue Water Vibe Hotel & Serviced Apartments’ 5-year Free Cash Flow 158
8.13 Free Cash Flow in a Base Case Scenario 159
8.14 Free Cash Flow in a Best Case Scenario 160
8.15 Free Cash Flow in a Worst Case Scenario 161
8.16 Comparison of Return on Investment 161
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LIST OF FIGURES
Figures Page
1.1 Water Vibe Hotel Exterior 3
1.2 Facilities of Water Vibe Hotel 4
1.3 Room Types of Water Vibe Hotel 5
1.4 Water Vibe Hotel Occupancy Rates During Different Period 6
1.5 Revenue by Market Segments Before and After Rimnaam Hotel & 10
Serviced Apartments Project
2.1 Hotel Occupancy Rate in Thailand 15
3.1 Logos of Rimnaam Klangchan and Rimnaam Hotel & Serviced Apartments 29
3.2 The Location Map of Blue Water Vibe Hotel & Serviced Apartments 30
3.3 The Satellite Image of Blue Water Vibe Hotel & Serviced Apartments 31
Property Boundary
3.4 Current Status of the Land (North) 32
3.5 Current Status of the Land (East) 32
3.6 Current Status of the Land (South) 33
3.7 Entry from the Main Maharaj Road to the Alley 33
3.8 Two-Lane Road Adjacent to the Project Area 34
5.1 Market Position Comparing Comfort & Convenience and Price 80
of the Hotel Segment
5.2 Market Position Comparing Comfort & Convenience and Price 82
of the Serviced Apartment Segment
5.3 3rd– 7th Room Floor Plan 84
5.4 Superior Room Floor Plan 87
5.5 An Illustration of the Superior Room Interior 87
5.6 Family Suite Room Floor Plan 88
5.7 An Illustration of the Family Suite Interior 88
5.8 Family River Suite Room Floor Plan 89
5.9 An Illustration of the Family River Suite Interior 89
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5.10 Lobby 91
5.11 Restaurant 92
5.12 Wine Bar 92
5.13 Floor Plan of the Rimnaam 1, 2, 3 Conference Rooms 93
5.14 Swimming Pool and Fitness 94
5.15 Map Showing the Parking Location of Rimnaam Hotel & 94
Serviced Apartments
5.16 Riverside Pier 95
5.17 Design of the Mailboxes 96
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CHAPTER 1
INTRODUCTION
1.1 Business Overview
Accommodation and food services are considered to be one of

Chanthaburi's fastest-growing sectors, partially resulting from the province's growing
tourism industry. According to the Strategy and Information for Provincial
Development Unit, Chanthaburi Provincial Office (2021), the accommodation and food
service industries grew at a four-year average of 12.29 % between 2016 and 2019, and
brought in more than 949 million baht in income or 0.99 % of the province's GPP in
2019.
Looking more closely at hotel businesses, Chanthaburi had recorded a
total availability of 6,295 hotel rooms in 2019, with an average occupancy rate of
60.23%. The majority of Chanthaburi's rooms, or 98.7%, are common rooms, while only
1.3 percent of the rooms are suites. Despite the fact that Chanthaburi's occupancy rate
in that year was lower than the national average of 68.8%, statistics from the Ministry
of Tourism and Sports (2021) revealed that hotel occupancy rates in Chanthaburi have
been increasing on average 9.29% every year since 2011. Similarly, total guest growth
is on average 9.93 percent per year, surpassing annual supply growth of only 7.25
percent.
In contrast to hotel businesses, when it comes to serviced apartments,
Chanthaburi currently lacks operators that provide this sort of service. This is in contrast
to the accommodation needs of many long-term visitors, which if considering only the
group of high-income earners, long-term visitors to Chanthaburi who are potential
customers of serviced apartment businesses can be classified into two main groups:
i.e. Thai executives or skilled workers who have been assigned to work in Chanthaburi,
and secondly, foreign entrepreneurs or businessmen working in Chanthaburi.
As for Thais, it mostly consists of more than 142 positions working as heads
of local government agencies, such as district chiefs, provincial court chief, as well as
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the provincial police chief (Chanthaburi Provincial Office, 2022), whose appointment is
rotated by every 2 years and which they need to find long-term accommodation as
their unit does not have the necessary housing to accommodate their officials, or the
present accommodation is already dated and dilapidated. There are also medical
personnel, either working off their scholarships or as doctors who are assigned to the
primary care units or provincial hospital, such as at the Prapokklao Hospital. According
to the Chanthaburi Provincial Health Office (2022), in 2022, medical personnel total
255 persons, of which 205 are assigned to Prapokklao Hospital and the rest to primary
care units. Other customers also include private company employees who were
assigned by their head office to work in Chanthaburi and supervise business expansion
projects, system installations, or internal audits of their subsidiaries, etc.
Simultaneously, most of the foreign merchants or businessmen residing in
Chanthaburi are those who come in for gem and fruit trading business, which is the
province’s main economic products. Their period of stay ranges from months to years
depending on the type of business. From Appendix A, it can be seen from the number
of foreigners who come to conduct their businesses in Chanthaburi and wish to apply
for a long-term business visa to the Chanthaburi Immigration Office average about 400
people per year. This number does not include the number of foreign business
travelers coming to Chanthaburi but have applied for a business visa with the
Immigration Office in another province.
However, long-term residences in Chanthaburi currently have not provided
sufficient support for these long-term visitors. This may be due to the limited options
where they have to depend on high-priced hotels or rented houses, apartments, and
condominiums, with a lower price point and less comfort. For these reasons, it could
prove to be a good business opportunity for serviced apartment businesses to enter
the market and meet the needs of this group of customers.
The foregoing circumstance demonstrates that Chanthaburi's hotel and
accommodation industries are desirable. In the future, there is also a possibility to
expand with the growth of Chanthaburi's economy and tourism sector. As a result, the
researcher saw a business potential and would like to initiate the Blue Water Vibe
Hotel & Serviced Apartments business plan as a strategy to expand Water Vibe Hotel
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in Talat Subdistrict, Mueang Chanthaburi District, Chanthaburi to accommodate the

growing demand of tourists and businessmen who would like to stay in Chanthaburi
for both short and long-term stays.
1.2 Scope of Business
The Blue Water Vibe Hotel & Serviced Apartments Business Plan is
intended to serve as a guideline for the expansion of the existing business, Water Vibe
Hotel. It involves a newly built structure in the vicinity of the former Water Vibe Hotel
building in Chanthaburi with the objective to expand the number of rooms and
conference rooms to accommodate more users. Established in 2015, Water Vibe Hotel
is located in Talat Subdistrict, Mueang Chanthaburi District, Chanthaburi province. It is
a 4-star hotel decorated in the modern contemporary style and situated along the
Chanthaburi River. Water Vibe Hotel offers 40 guestrooms and suites, 1 conference
room, 1 swimming pool, 1 fitness center, 1 restaurant, and 1 wine bar.
Figure 1.1 Water Vibe Hotel Exterior
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Figure 1.2 Facilities of Water Vibe Hotel
The rooms at Water Vibe Hotel are available in 3 room types, all with a
private balcony overlooking the Chanthaburi river. Details of the rooms and rates are
summarized as follows:
• Deluxe Room (37 sq.m): From THB 2,000 NET/night (Maximum 2 guests)
• Premier Room (41 sq.m): Available in two options of kitchen and sofa
bed, from THB 2,500 NET/night (Maximum 2 guests)
• Jacuzzi Suite Room (41 sq.m): From THB 3,000 NET/night (Maximum 2
guests)
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Figure 1.3 Room types of Water Vibe Hotel
Based on 2019 occupancy statistics, Water Vibe Hotel shows a total sale
of 11,342 rooms, representing an average occupancy rate of 77.68%, where Thai
customers accounting for 80.08% of total sales. The hotel has its high season during
December to May while the low season takes place from June to November during
the rainy period. Additionally, when comparing daily occupancy rates, Water Vibe Hotel
displayed the highest occupancy rates on weekends, Fridays and Saturdays, or 89.55%,
while on weekdays, or Sundays to Thursdays, the average occupancy rate was only
71.49%.
The difference in number of visitors between weekends and weekdays is
the result from Water Vibe Hotel’s primary target customers. The hotel's primary target
customers are high-income Thai tourists who travel as a couple, group of friends, or as
a family, mostly during the weekends and long holidays. While its secondary target
customers consist of businessmen, executives, and high-ranking government officials,
traveling for business purposes or on state assignments during the weekdays. However,
the higher ratio of tourists means higher occupancy rates during weekends than
weekdays.
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Figure 1.4 Water Vibe Hotel Occupancy Rates During Different Period
From the strength of its location, architecture, and excellent service, over
the past 7 years, Water Vibe Hotel has become the leading 4-star hotel in Chanthaburi
which is widely preferred by visitors. However, considering the revenue and growth of
Water Vibe Hotel in the past, it can be seen that it is quite restricted due to the
limitation on the number of rooms (40 rooms) and a conference room that can only
accommodate 100 people. Because of this limitation, the hotel often loses sales
opportunities due to insufficient accommodation and conference rooms to meet the
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needs of customers. From Appendix B, it shows that in 2019 alone, the hotel lost up
to 4,631,400 baht in potential revenue because of the lack of availability. This does
not include the lost opportunities for the FITs customers due to the fully booked
accommodation. Thus, considering the excessive demand and possible future growth,
the researcher can propose an expansion opportunity to the vacant land adjacent to
the present Water Vibe Hotel. This expansion will include new building for hotel rooms
and serviced apartments that would enable Water Vibe Hotel to cater to the needs of
both short- and long-term travelers. The new building's large conference rooms will
also allow Water Vibe Hotel to better accommodate larger conferences with a larger
number of participants. Moreover, it will also allow the business to benefit from
economies of scale led by resource and activity sharing between the two units.
Blue Water Vibe Hotel & Serviced Apartments is a project situated on an
area of 1 rai 14.7 square wah (approx. 1700 sq.m.) in Talat Subdistrict, Mueang
Chanthabuti District, Chanthaburi Province. One side of its location faces the
Chanthaburi River, while on the other side is adjacent to the Water Vibe Hotel. Its
business model offers short-term (daily) and long-term (monthly) accommodation
options with each floors classified according to the type of service it provides. The
hotel segment is located on the 3rd– 5th floors and offers 33 daily or short-term rooms.
While 22 rooms of the serviced apartments are on the 6th- 7th floors to serve long-
term guests. Table 1.1 shows the floor space utilization of Blue Water Vibe Hotel &
Serviced Apartments.
Room types are classified into 3 types: Superior, Family Suite, and Family
River Suite, to provide a variety of choices for customers with different needs. All rooms
are decorated in a modern contemporary style that emphasizes simplicity but also still
appears luxurious. There are also full in-room amenities such as a kitchen and the
necessary equipment, smart TV, audio system, washing machine, towel and linen set,
bathroom amenity set, LAN and Wifi, and many more. In addition to the room’s
amenities, customers also have access to common facilities such as swimming pools,
fitness centers, medium and large conference rooms, and restaurants that are available
in the common areas of the Water Vibe Hotel and Blue Water Vibe Hotel & Serviced
Apartments. Customers of the Blue Water Vibe Hotel & Serviced Apartments consist
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mostly of tourists and business travelers with middle to high incomes, either traveling
alone, as a couple, or in a group. Guests’ stays at the property are either for vacation
or business trips, and need peace, privacy, and a location that is close to nature as a
relief from their stress at work. In addition, this group of customers also requires
personalized services, comprehensive hotel and rooms amenities, and convenience in
accessing and traveling to major sites in Chanthaburi.
Table 1.1
Floor Space Utilization of Blue Water Vibe Hotel & Serviced Apartments
7th Floor Serviced Apartments
6th Floor Serviced Apartments
5th Floor Hotel
4th Floor Hotel
3rd Floor Hotel
Conference Room
2nd Floor
(High Ceiling)
Lobby, Parking Space
1st Floor
(High Ceiling)
The new Rimnaam Hotel & Serviced apartment will have a total of 55
rooms, consisting of 33 hotel rooms and 22 serviced apartments. It can host 150
customers at its full capacity (without extra beds) consisting of 90 short-term 60 long-
term stay as shown in Table 1.2
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Table 1.2
Room Type and Room Capacity of Water Vibe Hotel and Blue Water Vibe Hotel &
Serviced Apartments
Rimnaam Klangchan Rimnaam Hotel & SA
Room Type Size (sq.m.) No. of Max. No. of Max.
Rooms Occupancy Rooms Occupancy
Hotel
Superior 36 21 2
Deluxe 37 21 2
Premier 41 8 2
Jacuzzi Suite 43 11 2
Family Suite 60 6 4
Family River Suite 56 6 4
Total 40 80 33 90
Serviced Apartment
Superior 36 14 2
Family Suite 60 4 4
Total – Serviced Apartment 22 60
Total – Hotel & Serviced Apartment 40 80 55 150

Total – Old and New Buildings 95 230
Additionally, the second floor will be where the 3 conference rooms are
located. These rooms can be connected to host a large conference with up to 300
participants. This enables the hotel to accept larger groups of customers that are
impossible at the current state. The new Blue Water Vibe Hotel & Serviced Apartments
is expected to increase the MICEs and long-term customers to income ratio as shown
in Figure 1.5. These 2 segments will increase the revenue in the weekdays and decrease
the dependency from only one major source of income.
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Figure 1.5 Revenue by Market Segments Before and After Blue Water Vibe Hotel &
Serviced Apartments Project
1.3 Business Model
The overall business operations of Blue Water Vibe Hotel & Serviced
Apartments can be expounded by the Business Model Canvas, as in Table 1.3-1.5:
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Table 1.3
Business Model Canvas for Hotel’s Primary Target Customer

Key Partners Key Activities Value Propositions Customer Relationships Customer Segments
• Online travel agencies • Provide short-term • Peaceful relaxation experience • Personalized service Demographic: Thai tourists aged 21-
• Offline travel agencies accommodation with beautiful natural • 24-hour reception 40 years, monthly income above
• Travel media e.g. travel review • Assist in giving advice and surroundings • Social media engagement THB 30,000
pages, travel bloggers, travel information, starting from • Warm & personalized service • Exclusive discounts and benefits
magazines reservation to checkout • Stylishly decorated suite and • Customer loyalty program Behavior: Often travel with their
• TAT Office and Tourism • Maintain cleanliness and safety family suite rooms companions, friends, or family, on
Promotion Association • Sales & marketing activities • Range of room amenities weekends or vacations
• Community attractions, shuttle • Comprehensive common
bus, guided tours facilities Lifestyle: Indulge in various types of
• E-commerce platforms e.g. • Central location activities, like to socialize, like to
Megatix, Shopee Key Resources • Partnership privileges Channels share snaps of experiences on
• Business partners e.g. credit cards, • Guestrooms and common • Reception counter social media
mobile phone companies facilities • Hotel website
• Staff and casual network • OTA platforms
• Website and social media • Travel agencies
• Property management system • E-commerce platforms
(PMS) • Social media
Cost Structure Revenue Streams
OTA commissions, advertising and promotions, salaries, welfare & benefits, utilities, repairs and Room revenues from short-term stays, food and beverages revenues, laundry services fees, spa
maintenances, communication expenses, food and beverages raw materials, laundry costs, & message service fees
hotel supplies, parking space rentals, depreciation expenses, interests on loans, taxes
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Table 1.4
Business Model Canvas for Hotel’s Secondary Target Customer

• Online travel agencies • Provide short-term • Peaceful relaxation • Sales calls and sales visits Demographic: Company
• Offline travel agencies accommodation experience with beautiful • Government/ corporate employees, government
• TAT Office and Tourism • Assist in giving advice and natural surroundings contracts officials, or business owners,
Promotion Association information, starting from • Personalized and • Personalized service aged 31-50 years, earning
• Relevant local businesses reservation to checkout professional service • 24-hour reception 30,000 baht or more
e.g. ‘long’ or processed fruit • Organize meetings & events • Complete hotel and room • Customer loyalty program
factories, gemstone • Sales & marketing activities amenities Behavior: Travel alone or with
companies, hospitals, Key Resources • Large conference rooms for Channels their colleagues, for business
government agencies • Guestrooms, conference meetings & events • Reception counter purposes, or attending
rooms, and facilities • Central location • Hotel website meetings/seminars, with an
• Staff and casual network • Contract rates for • OTA platforms average stay of 2-3 nights
• Website and social media government and corporate • Travel agencies
• Property management • Salespersons
system (PMS) • Social media
OTA commissions, advertising and promotions, commissions for freelance Room revenues from short-term stays, food and beverages, conference room
salespersons, salaries, welfare & benefits, utilities, repairs and maintenances, rental fees, laundry services fees, spa & massage service fees
communication expenses, food and beverages raw materials, laundry costs,
hotel supplies, parking space rentals, depreciation expenses, interests, taxes
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Table 1.5
Business Model Canvas for Serviced Apartments’ Primary Target Customer

• Online estate agencies • Provide long-term • Peaceful, relaxing stays in • Sales calls and sales visits Demographic: Thai and foreign
e.g. DDproperty, RentHub accommodation beautiful natural surroundings • Personalized service businessmen, professionals,
• Offline estate agencies • Assist in giving advice and • Personalized and hotel-level • Social media company employees, or high-
• Airbnb information service • 24-hour reception ranking officials, aged between 41-
• Relevant local businesses e.g. • Maintain cleanliness and safety • Fully furnished rooms with • Exclusive discounts and benefits 60 years with a monthly income of
‘long’ or processed fruit factories, • Sales & marketing activities complete range of room • Customer loyalty program 75,000 baht or more
gemstone companies, hospitals, Key Resources amenities Channels
government agencies • Guestrooms and common • Inclusive of utilities, cleaning • Reception counter Behavior: Live alone or with family
facilities services, linen & towel changes, • Official website of 3-4 people, look for value for
• Staff and casual network maintenance fees • Online estate agencies money, willing to spend extra for
• Website and social media • Comprehensive common • Offline estate agencies comfort and convenience
• Property management system facilities • Airbnb
(PMS) • Flexible leasing contracts • Salespersons
• Partnership privileges • Social media
• Central location
Airbnb and estate agent commissions, advertising and promotions, salaries, welfare & benefits, Monthly rental fees from long-term stays, food and beverages, laundry services fees, spa &
utilities, repairs and maintenances, communication expenses, food and beverages raw massage service fees
materials, laundry costs, guest supplies, parking space rentals, depreciation expenses, interests,
taxes
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CHAPTER 2
ENVIRONMENTAL EVALUATION
Today's businesses are faced with a constantly changing environment. An

analysis of the business environment would create awareness of the various factors
that affect business operations. Assessing and analyzing these issues will give
entrepreneurs an overall view to plan strategies effectively according to the varying
business scenarios.
2.1 Industry Analysis
The hotel industry is one of the businesses related to the tourism sector
of the country. Thailand is one of the most popular destinations for foreign tourists
due to its attractive tourist attractions scattered in various regions across the country.
The country also has an advantage in terms of a lower cost of living and room rates
resulting in giving the best value for money than any other country. In retrospect, for
the years between 2015-2019, the country witnessed a continuous expansion of the
number of foreign and Thai tourists resulting in an average hotel occupancy rate of
68.8%. In 2019, the average occupancy rate was a record high of 71.4% the number of
foreign tourists was recorded at 39.9 million, pushing the GDP from the hospitality and
food services sector to be valued at 1.03 trillion baht, 6.1% of the entire country's GDP.
However, for Thailand in 2020, tourism and the hotel businesses suffered
a severe stagnation following the global tourism situation, with GDP in the hospitality
and food services category being valued at only 635 billion baht, a decrease of 38.3%
from 2019. According to Krungsri Research (2021a), the average occupancy rate across
the country in 2020 dropped to 29.5% from 71.4% in 2019, while price competition
from competitors in the same business segment and competition from alternate
services such as apartments, serviced apartments, and condominiums resulted in a
34.9% drop in the room rates. The average revenue per room, or RevPar, across the
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country decreased by 73.1% to 331 baht from 1,229 baht in 2019, thus causing a direct
effect on the total revenue of the hotel industry.
Figure 2.1 Hotel Occupancy Rate in Thailand

Source: Krungsri Research (2021a)
However, the COVID-19 crisis seemed to have little impact on the serviced
apartment business when compared to the hotel sector, as can be seen from the
overall occupancy rate of a serviced apartment to be at about 50-55% compared to
the hotel sector which is only about 29.5% (Matihoon, 2021). The higher occupancy
rate of a serviced apartment is due to the demand for long stays from foreigners which
differs from that of a hotel that offers short stays for the tourists affected by the
country's lockdown measures.
For more details on Thailand and Chanthaburi tourism industry, please
refer to Appendix C.
2.2 Industry Structure
To provide a better understanding of the hotel and serviced apartment

businesses in Thailand, the definition and characteristics of each accommodation type
are summarized as follows:
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2.2.1 Hotel
May be defined as an overnight accommodation that offers
comprehensive facilities and services, such as a variety of rooms, restaurants, swimming
pools, fitness centers, etc. Each hotel level ranges from 1 to 5 stars, depending on the
size, location, facilities, convenience, and services. The rental rates are directly related
to the star ratings.
2.2.2 Serviced Apartment
Serviced Apartments are accommodations that focus on long-term
stays of at least one month or more. The appearance of the accommodation is often
similar to a condominium or an apartment, but Serviced Apartments are different due
to the availability of various services that are already included with the
accommodation rate (The Apartment Service, 2020). This allows convenient walk-ins
by tenants as there are supporting services in almost every aspect, whether it is
housekeeping, towel and linen change, laundry, minibar and bathroom amenities
replenishment, room maintenance, or even meal services, making it highly popular
among foreigners visiting Thailand.
For the information on other accommodation types in Thailand,
please refer to Appendix D.
2.3 External Environmental Analysis (PESTEL Analysis)
2.3.1 Political
Political factors or political stability directly affect the tourism
industry. This is because domestic stability will affect the image and confidence of
tourists in making travel decisions. In addition, policies or measures from the
government on tourism are factors that significantly affect the tourism industry.
(1) The government’s relaxation of COVID-19 pandemic control
measures to restore tourism has allowed foreign tourists who have received full
vaccination to enter Thailand without quarantine according to the TEST & GO mandate
since February 1, 2022. According to the article from Bangkok Post (2022), the Ministry
of Tourism and Sports has forecasted that the foreign market situation for the first
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quarter of 2022 will see 338,645 foreign tourists visiting Thailand, an increase of 1,579%
compared to the same quarter of the previous year. Revenue is expected to reach
26,065 million baht, an increase of 1,062% due to a better recovery trend if the current
measures are maintained to accept foreign tourists.
(2) The escalating tense situation between Russia and Ukraine will
result in an all-out war and would inevitably have a huge impact on the Thai tourism
industry. This is because Russia is the country with the most tourists visiting Thailand,
ranking in the top 5 since Thailand reopened its borders. Most of them are traveling as
a family or with friends, and are considered to be high-spending tourists. The impact
will result in Russian tourists disappearing. A similar affect would also be expected
from the Ukrainians who also made up a significant portion of the tourists visiting
Thailand. There is also an indirect impact on the flight path where if the airspace is
closed to air traffic which would probably result in airlines having to divert their routings
and thus affecting the price of the airfare and the decision to travel as well. If the
situation worsens to the point where it affects the tourist market in both countries, it
will cause Thailand to lose substantial revenue from tourism and also reduce the 2022
foreign tourists target, which is currently estimated at 10 million (Bangkok Post, 2022).
(3) The policy to support the Smart Visa is expected to attract
foreigners who want to invest or work in Thailand. The new visa type will enable
foreigners to live in Thailand for 4 years without having to apply for a work permit as
the country needs skilled foreign workers to exchange knowledge and help drive the
economy. The focus target groups are skilled employees/top executives, investors, and
new Entrepreneurs or digital freelancers, on the 10 S-curve (10 targeted industries)
which are needed to drive the economy.
(4) The state has also extended the deadline for enforcement of the
ministerial regulations specifying the characteristics of other types of buildings used for
hotel business to the end of 2024 (from the previous 2021), to allow hotel operators
or small accommodation businesses to make correct modifications to their buildings
accordingly. This makes it possible to use the benefits to reduce investment expenses
twice and have the opportunity to participate in government tourism promotion
activities, while guests are also eligible for a tax deduction. This measure is expected
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to result in a large number of smaller hotels applying for a hotel business license
resulting in fair pricing competition while occupancy rates become more realistic.
2.3.2 Economic
(1) In 2019, the Covid-19 pandemic also had a severe impact on the
Thai economy from the lockdown measures and various other measures to deal with
the Covid-19 pandemic, in which it suppressed the economic growth mechanism and
caused the business sector to run out of liquidity resulting in reduced production and
income and increased unemployment.
The Covid-19 pandemic has resulted in a 6.7% negative growth of
the country’s entire economy in the third quarter of 2020. It is forecasted that the
overall economic growth for the entire 2020 will show a negative of 6%, thus causing
an increase in unemployment by one-fold and an increase in household debt from
75% to 84% in the GDP (Sorat, 2021).
The slowdown in the Thai economy plus the lower income and rising
household debt has substantially affected Thailand’s tourism industry due to the
declining demand and is consistent with the weakness of domestic purchasing power.
(2) In addition to Covid-19 pandemic, Thai economy has also been
adversely affected by the Russia-Ukraine crisis. One apparent effect of the tense
situation is the rising price of oil after Russia announced its invasion of Ukraine. This
has now caused the immediate global crude oil price to rise above the $100 level. If
the Russian-Ukrainian war expands, oil prices could easily surpass $120/barrel (The
Nation Thailand, 2022). As Thailand is highly dependent on energy and oil imports, the
increase in the price of oil will have a direct impact on production costs, food prices
and contribute towards rising inflation. This will put pressure on the recovery of
domestic demand and purchasing power. Consequently, the demand for tourism in
the country may slow down and may also affect the cost of accommodations and
hotel businesses due to higher food and production costs. During the initial period,
entrepreneurs may need to accept these increased costs by themselves or pass the
cost to the consumer if the problem persists over the long term.
(3) The fallout from the Russo-Ukrainian War and soaring energy
prices around the world have also resulted in an increase in Europe's inflation rate to
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the highest in history. In April 2022, the European Union released its latest inflation
data, showing that the year-on-year Consumer Price Index (CPI) has jumped 7.5%, well
above the forecast of 6.7%, and is considered the highest level in 25 years since it was
recorded. It has also affected Europe’s industrial sector of Europe which resulted in
Europe's real GDP forecast for 2022 and 2023 being 3.1% and 2.5%, respectively, a
decrease of 5.3% in 2021.
This lower GDP growth rate, coupled with soaring inflation has
consequently resulted in several European countries to face stagflation, including
Germany and France, which are considered the top two largest economies in Europe
and also ranked among the Water Vibe Hotel's top five customers. In Germany, the
2022 economic growth forecast has been revised down from 3.6% to 2.2%, while the
slowdown in France has resulted in domestic household spending to decrease by 1.3%
(CNN Business, 2022). This may result in a slowdown in the number of European tourists
traveling to Thailand due to weaker purchasing power and their focus turning to only
consuming essentials.
(4) China's zero-Covid policy has resulted in measures to limit travel
in and out of the country, especially for tourists. From January 2020, Chinese travelers
returning from overseas were required to self-isolate for up to 21 days and bear the
costs of self-quarantine, resulting in high costs in terms of both money and time. The
impact of these measures has led to an 88.6% drop in Chinese arrivals in Thailand in
2020 when compared to 2019, and most are more likely to be long-term residents or
work in Thailand than short-term tourists or tour groups that were visiting before the
Covid pandemic outbreak. This has severely affected the economy and Thailand’s
tourism industry as Chinese tourists accounted for a quarter of all tourists entering
Thailand in 2019. It is estimated that China's zero-Covid policy may be in effect until
late 2023, and thus hotels in Thailand will need to adjust their strategy accordingly to
deal with the potential drop in Chinese tourists until 2024.
The implementation of the zero-Covid policy has also contributed
to the IMF cutting its 2022 growth forecast for China's economy to 4.4%, which is below
China's 5.5% target due to logistical and supply chain issues where full and partial
lockdowns were mandated by authorities to contain the pandemic (Business Times,
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2022). If the situation is protracted, it may result in China experiencing slower economic
growth and may as well affect the population’s demand and purchasing power in the
long run.
2.3.3 Social
(1) According to Krungsri Research (2021b), the Covid-19 crisis has
affected the needs and behaviors of Thai tourists to differ in each age group, in terms
of travel plans, activities of interest, and even their budget, which can be summarized
briefly as follows:
1. After the Covid-19 outbreak, Gen X have become more
cautious in their spending due to the economic impact. In addition, Gen X groups are
more likely to have families and have to take care of their elderly family members.
Therefore, they have more concerns about their travels than Gen Z and Gen Y. Travel
spending is not so high, and they often travel during long weekends to not so distant
destinations.
2. Prior to the Covid-19 outbreak, baby boomers and the silver
hair group were potentially high-spenders due to their high purchasing power and no
restrictions on their travel time. However, after the outbreak, they are now concerned
about their travels, as is evident which suggest that older adults are more likely to
experience severe infectious side effects when compared to other age groups. Hotel
operators, therefore, need to come up with strategies that will help build their
confidence, especially in terms of cleanliness.
(2) Tourists have also shifted to focus more on creative tourism by
focusing on creating experiences that gain in-depth knowledge from various tourist
attractions. Destinations that are given increased focus will be places where travelers
can engage with the local art and culture, experience the local way of life and
traditions of that particular locality, more than just visiting the sights. This is consistent
with a Booking.com (2021) report that stated, that 85% of Thai travelers wanted to
experience tourism that truly reflects the culture of the local people.
(3) Health and hygiene have also become the number one priority
for tourists. In the past few years, people have given increased interest in health care
as can be seen in the trend of health and sports tourism, such as cycling and marathon
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running, as well as the popularity of exercises. After the Covid-19 outbreak, tourists will
pay increased attention to health policies of their destination and the health measures
of the local tourist attractions and accommodations, such as choosing places that have
SHA (Amazing Thailand Safety and Health Administration) certification. Simultaneously,
outdoor activities have become more popular to avoid entering into crowded, or
enclosed areas.
2.3.4 Technology
From the past until now, technology has played an important role
in life, from communication, learning, thinking, and even consumer behavior. As a
result, many hotel business operators have extensively utilized technology to operate
their business and use it as a tool to support marketing activities. Starting from
communication to inspiring the desire to use the service, using it as a handy tool while
staying in a hotel or accommodation, as well as, having a platform in providing
feedback after using the service, and even a tool to generate repeat visits.
(1) Mobile Technology - As of today, many people use smart devices
on a regular basis, especially for communicating and searching for information, as well
as, enabling tourists to search for information more easily. In addition, tour operators
and hotels can conduct their marketing activities through social media or use
applications such as booking rooms directly with hotels and via OTAs, car bookings,
digital maps, etc.
(2) Contactless Technology - In the tourism and hospitality sector,
contactless technology was already in use before the Covid-19 pandemic. Many hotels
have invested in voice-activated technology in elevators or in guest rooms, or using
digital keys in unlocking rooms via smartphone to provide superior convenience to
customers. It also includes the use of voice-activated sensors instead of touching, RFID,
NFC, face recognition, and biometric identification. Under the new normal after the
Covid-19 crisis, such as keeping a safe distance and reducing direct exposure, tourism
and hotel businesses are exponentially more likely to adopt technology to build
confidence and safety for tourists and maintain competitiveness.
For some other technologies that can be utilized to enhance
customer service and experience in the hospitality industry, please see Appendix E.
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2.3.5 Environment
(1) One of Chanthaburi's environmental issues is the waste problem
in tourist attractions. Presently, various tourist attractions in the province are facing a
major problem that affects tourism, namely, waste problems especially waste from
the sea that significantly affects the image of the seaside tourism industry within the
province. In addition, Chanthaburi also faces issues with regards to the destruction of
natural resources and encroaching on forest areas to engage in tourism services,
especially homestays. Relevant agencies have not yet come up with any concrete
solutions to these problems.
(2) The current situation in which the majority of people are affected
by what they do, both from global warming and the spread of the Covid-19 virus, has
made tourists around the world including Thais, become much more aware of the
environmental problems that are caused by tourism and are increasingly turning to
focus on tourism that takes the environment into account. A survey from Booking.com
(2021) reveals that 94% of Thai travelers consider “sustainable tourism” to be very
important, with 78% saying that as a result of Covid-19 there is an increasing need for
more sustainable travel in the future. The survey also revealed that 66% agree that
the pandemic has shifted their attitudes towards making positive changes in their daily
lives, such as recycling (50%) and reducing food waste (28%), which they put first and
foremost.
2.3.6 Legal
Conducting business in the hotel, resort, suite, and homestays sector
in Thailand, concerns the Hotel Act, B.E. 2547, and several other ministerial regulations,
announcements, and orders. It also related to other laws that regulate the business
establishment, application for permission to operate a hotel business, construction of
buildings and premises for hotel business, management, including tax payments. From
the consolidation, the important laws and related regulations may be as summarized
as in Appendix F.
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2.4 Evaluation of Interest of Industry (Porter’s Five Forces Analysis)
Michael E. Porter's Five Forces Model, is a business attractiveness analysis

tool that focuses on the analysis of pressure from 5 external factors affecting the
competitive business situation. The analysis of the competitive environment will help
entrepreneurs to have an overview of the industry, which includes profit opportunities
and limitations for each particular industry, and enable them to find the most suitable
countermeasure.
2.4.1 Bargaining Power of Customers

• Hotel Business: Medium-High Severity
Characterized by medium to high bargaining power, as most tourists
usually plan their trips and book their accommodations in advance. This makes it
possible for them to study accommodation information through the websites of
several online travel agencies, such as Booking.com, Agoda, Traveloka, and Expedia, as
well as peruse various feedback articles from the internet. This allows tourists to
possess high bargaining power with hotel businesses. However, the level of bargaining
also depends on the time of travel. During the high season, tourists’ bargaining power
is much more reduced than during the low season due to the high demand for
accommodations in the market, as well as the limited number of accommodations
that are not enough to meet the demand of tourists.
• Serviced Apartment Business: Low-Medium Severity
Characterized by low to medium bargaining power, as this type of
accommodation is not offered by any operator in Chanthaburi. This gives Thai and
foreign visitors, who wish for a long-term stay in Chanthaburi, limited options. Most of
them need to decide whether to stay in a hotel, with its comprehensive services and
facilities but at a higher cost, or renting a house, apartment, or condominium with a
lower cost but also comes with a minimum 1-year contract, and may or may not have
furniture and other amenities. For this reason, operating a serviced apartment in
Chanthaburi might prove to be a more attractive option for long-term guests as these
types of accommodation offers services and facilities that are comparable to or more
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than a hotel but at a lower price. There are also lease agreements that are more
flexible than that of home rentals, apartments, or condominiums. There are currently
no operators in Chanthaburi Province that offer this type of accommodation and,
therefore, buyers’ bargaining power is reduced.
2.4.2 Bargaining Power of Suppliers
• Labor: High Severity
The business of providing accommodations is characterized by
providing services as the main business structure. Therefore, the most important
suppliers and the main duties of such businesses is, therefore, full-time wage workers
such as receptionists, accounting, sales and marketing, cleaning staff, or security
personnel, all of which have high bargaining power. Most of the workers in Chanthaburi
choose to work in agriculture which is the main industry and generates substantial
income for the province. Meanwhile in Chanthaburi, there is also a large migration of
provincial workers to Bangkok due to Bangkok's higher employment growth and salary
rates than other provinces. As a result, most of the migrant workers in the province
lacked the availability of experience, labor and language skills. This results in a shortage
of qualified workers and creates bargaining power for high-quality workers.
• Online Travel Agency: High Severity
Most of the accommodation businesses today usually focus on
online channel marketing and feature room availabilities on online travel websites
(OTAs) in which a commission is paid to the website owners. This is due to the
increasing consumer behavior of using this channel coupled with the increasing number
of competitors in the hotel and accommodation industry. This results in the producer
or website owners having higher bargaining power, as operators want their business's
listing to be in the top search results. In exchange for top rankings, operators deem it
necessary to increase the fee accordingly. Should they choose not to increase their
fees will result in a fall of their rankings, resulting in less visibility and cause the loss of
customers.
• Food and Beverage Raw Materials: Low Severity
Has a low bargaining power due to the high competition in the food
raw materials industry. Moreover, the raw materials that are sold are not much
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different and prices have to be adjusted in accordance with the average market price.
As a result, the bargaining power of suppliers with hotel and accommodation
businesses is reduced.
• Amenities: Medium Severity
Characterized by moderate bargaining power although there is a large
availability of sellers in the market. The variety of products does not differ much, and
prices are mostly dependent on the quantity ordered. As Blue Water Vibe Hotel &
Serviced Apartments is a medium-sized accommodation business (30-100 rooms), this
results in the amount of product orders in each cycle not very high, thus the bargaining
power of suppliers is considered as moderate.
2.4.3 Rivalry among Current Competitors
• Hotel Business: High Severity
Currently, the hotel and accommodation industry in Chanthaburi is
considered to be highly competitive. Online marketing can be implemented easily with
a low budget resulting in entrepreneurs competing fiercely with each other. Moreover,
the number of new entrepreneurs is continuously increasing, and this forces players to
constantly adjust their strategies in order to survive and to maintain the level of
profitability of their businesses. The most noticeable is the price war, which is highly
evident in the reduced weekday room rates to attract more tourists instead of leaving
the room empty. This will automatically destroy the market forces, causing the entire
industry's market value to fall as well.
However, when considering direct competitors, there are currently only 3
hotels in Mueang Chanthaburi District that are 4-star hotels serving high-end customers.
Additionally, Mueang Chanthaburi District currently does not have any well-known
hotel chains, thus resulting in a less intense price war than in the mid- to low-end
markets.
• Serviced Apartment Business: Low Severity
Competition is low as presently, there are no operators in the
province that provide such service.
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2.4.4 Threat of New Entrants

• Hotel & Serviced Apartment Business: High Severity
Becoming a player in this industry requires a medium to high
investment, depending on the size and the business format. The rapid growth rate of
the tourism industry and the number of tourists that are continuously increasing in
Chanthaburi province makes it highly attractive to new entrants. As a result, the
intensity of competition in this industry has increased tremendously. The new
competitors in Chanthaburi's hotel and accommodation industry include large
capitalists like Central Pattana Group, who foresee the potential of Chanthaburi and
has invested in mixed-use developments, which are projects that include integrating
shopping centers, hotels, condominiums, and social parks, into the same area (Central
Pattana, 2021). When this project is completed, it will increase the number of rooms
in Chanthaburi province significantly and exert a high pressure for new competitors in
this business.
2.4.5 Threat of Substitutes
• Hotel Business: Medium Severity
The hotel business is just one of the businesses in which providing
accommodation is the primary service. There are also several other different types of
businesses in the industry with the main service characteristics similar to hotels, such
as resorts, homestays, guesthouses, hostels, and Bed & Breakfasts. There are also
varying locations from the city center, the old community, to the sea, mountains, and
waterfalls to choose from.
Even though there is a wide range of options for accommodations in
Chanthaburi, most of these properties focus on budget-to-moderate pricing levels. The
number of accommodations with features, prices, and target groups similar to Blue
Water Vibe Hotel & Serviced Apartments is still limited. Therefore, the chance that the
target group will choose other accommodation is quite low. As a result, the severity is
considered as medium.
• Serviced Apartment Business: Low Severity
Currently, there are many long-term accommodation providers in
Mueang Chanthaburi District, in the form of rental houses, apartments or
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condominiums. But these service providers are targeting people with low to middle
income. There are currently only 3 condominiums in Mueang Chanthaburi District,
where they offer long-term rental services to high-income guests. Serviced apartments
offer more services and facilities than a condominium and also have more flexible
leasing contracts. Therefore, the threat of substitute products of serviced apartment
businesses to high-income customers, therefore, has a low severity.
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CHAPTER 3
INTERNAL EVALUATION
3.1 Business Description
As a sub brand of Water Vibe Hotel, Blue Water Vibe Hotel & Serviced
Apartments is a business that offers daily and monthly accommodation in Talat
Subdistrict, Mueang Chanthaburi District, Chanthaburi Province. The building and rooms
are designed in a modern contemporary style, which combines classic and modern
styles, giving it a sense of elegance and warmth. Its focus is on providing services to
Thai and foreign tourists and businessmen with medium to high incomes who require
short-term or long-term accommodation with privacy, closeness to nature, and
convenient access. Blue Water Vibe Hotel & Serviced Apartments is the perfect
accommodation for these group of customers due to its location in the heart of the
city along the Chanthaburi River, therefore, it has a quiet and peaceful natural
atmosphere for guests to unwind into total tranquility. Highlights of the property also
include a full range of facilities, such as a swimming pool, fitness center, and fully
equipped conference room, that can support both leisure and business, short-term
and long-term stays.
Accommodation services at Blue Water Vibe Hotel & Serviced Apartments
are classified into:
(1) Hotel accommodations, located on the 3rd– 5th floors, offer 33 daily
or short-term rooms.
(2) Serviced apartments, consist of 22 rooms located on the 6th– 7th floors
for long-term stays.
Both the hotel rooms and serviced apartments have 3 types of rooms;
namely Superior, Family Suite, and Family River Suite, to provide a variety of choices
for customers with different needs.
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3.1.1 Business Name

“Blue Water Vibe Hotel & Serviced Apartments”, is the official
commercial name of the property. The name is easy to remember because it refers to
the actual location of the property, i.e. along the Chanthaburi River. It also
demonstrates the connection with the existing business, Water Vibe Hotel.
3.1.2 Logo
Figure 3.1 Logos of Water Vibe Hotel and Blue Water Vibe Hotel & Serviced Apartments
To tie back to the parent brand’s, Rimnaam Klangchan, qualities and

values, Blue Water Vibe Hotel & Serviced Apartments will share several characteristics
of brand identity with Water Vibe Hotel, including typography and logo.
The logo of Blue Water Vibe Hotel & Serviced Apartments is derived
from the original logo of Water Vibe Hotel, in which the tree represents extensive
natural setting of the property, while the curves underneath depicting the waters of
the Chanthaburi River. Resembling the symbol of Chanthaburi province, the moon and
moonlight on the design are also known to be the symbol of peace and tranquility.
However, to differentiate itself from the parent brand and resonate
more effectively to the new target audience, Blue Water Vibe Hotel & Serviced
Apartments also has its own distant traits, including the color palette. The color palette
used in Blue Water Vibe Hotel & Serviced Apartments logo is blue, which is a color
that invokes a feeling of calm and relaxation, while at the same time, representing
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trust and honesty, which are the core values of Blue Water Vibe Hotel & Serviced
Apartments.
3.1.3 Business Location
Blue Water Vibe Hotel & Serviced Apartments is a project situated on
an area of 1 rai 14.7 square wah (Approx. 1700 sq.m.) in Talat Subdistrict, Mueang
District, Chanthaburi Province. One side of its location faces the Chanthaburi River,
while on the other side is adjacent to the Water Vibe Hotel. Figure. 3.2 shows the
location map of Blue Water Vibe Hotel & Serviced Apartments.
Figure 3.2 The Location Map of Blue Water Vibe Hotel & Serviced Apartments
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3.1.3.1 Property Boundary

The property boundary of Blue Water Vibe Hotel & Serviced
Apartments is shown in Figure. 3.3
Figure 3.3 The Satellite Image of Blue Water Vibe Hotel & Serviced Apartments Property
Boundary
The dimensions and boundaries of the property can be

summarized as in Table 3.1 below.
Table 3.1
Dimensions and Boundaries of Blue Water Vibe Hotel & Serviced Apartments
Direction Approx. Length Land Boundary
North 73 m. Water Vibe Hotel, rental houses
South 62 m. Taweecharoen superstore
East 28 m. Chanthaburi river
West 23 m. Empty private land
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3.1.3.2 Present Land Use

At the present time, there is no construction on site, and the
land is completely vacant. The current height of the land is relatively the same as the
surrounding properties, expect from the east side that connects to the Chanthaburi
river. The water level of the river is on average 2 meters below the current land level,
and, in the future, natural stone wall may require to be installed to protect the
riverbank from erosion. Figure 3.4-3.6 below exhibit the current status of the land.
Figure 3.4 Current Status of the Land (North)
Figure 3.5 Current Status of the Land (East)
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Figure 3.6 Current Status of the Land (South)
3.1.3.3 Accessibility
The project area can be reached through a two-lane road that
connects to the main Maharaj Road. The width of the road is 6 meters, which is
accessible by all types of vehicles, including double decker buses. Figure 3.7 and 3.8
show the images of the aforementioned road.
Figure 3.7 Entry from the Main Maharaj Road to the Alley
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Figure 3.8 Two-Lane Road Adjacent to the Project Area
3.1.3.4 Distance to Surroundings

Located in the center of Chanthaburi, Blue Water Vibe Hotel
& Serviced Apartments is the perfect accommodation option for both business and
leisure guests who want to be close to everything. Table 3.2 below lists the distances
traveled between Blue Water Vibe Hotel & Serviced Apartments and some major
landmarks of Chanthaburi.
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Table 3.2
Distance from Blue Water Vibe Hotel & Serviced Apartments to Major Landmarks in
Chanthaburi
Shopping Hospitals
• Robinson Department store 450 m • Sirivej Hospital 820 m
• Big C 2.6 km • Prapokklao Hospital 2.5 km
• Lotus’s 3.7 km • Bangkok Hospital Chanthaburi 3.1 km
Restaurants & Cafes Schools & Universities
• Chantorn Pochana 350m • Siyanusorn School 2.6 km
• Mililin Café & Eatery 700m • Benchamarachuthit School 2.7 km
• Krua Loong Chaey 1.6 km • Streemandapitak School 2.7 km
• Orbit Pub 1.9 km • Rambhai Barni Rajabhat
University 14.5 km
Steet Food Popular Attractions
• Centric Night Market 400m • Chanthaburi Gem and
• Jatujak Food Market 850m Jewelry Center 880 m
• JP Night Market 1.6 km • Gems Market 1.2 km
• Wat Phai Lom 1.3 km
Transportation • City Pillar Shrine 1.4 km
• Bus Terminal 2.7 km • King Taksin the Great Shrine 1.4 km
• Trat Airport (Closest Airport) 60.1 km • The Cathedral of
Immaculate Conception 1.6 km
• Chanthaboon Waterfront
Community 2.6 km
• Chao Lao Beach 31.9 km
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3.2 Vision, Mission, and Goals
3.2.1 Vision
To be the leader in the hotel and serviced apartment business in
Chanthaburi province, distinguished by its modern appearance and closeness to
nature. Fully equipped with quality and service that exceeds expectations.
3.2.2 Mission
We are committed to creating and delivering memorable and
meaningful guest experiences through warm and personalized service in a beautifully
decorated accommodation, that is also modern, calm, and relaxing, all of which are
located within beautiful natural surroundings with full facilities.
3.2.3 Goals
3.2.3.1 Short Term Goals (1-2 years)
(1) Build brand awareness for Rimnaam Hotels and Serviced
Apartments to be well known among both target and general customers and are highly
considered in using the service via ads and content that advertises on the business’
official online media (Facebook, Instagram, Line Official). It has a goal of receiving a
total of at least 5,000 Facebook likes and 4,000 followers on Instagram within the first
2 years.
(2) Achieve an occupancy rate of at least 68% in the first
year for the hotel business, and 70% for the serviced apartment business, and increase
to 70% and 80% for the hotel and serviced apartment businesses respectively, for the
second year of operations.
(3) Create business synergy by promoting activity and
resource sharing between Rimnaam Hotels and Serviced Apartments and Water Vibe
Hotel. In doing so, it is expected to help the businesses achieve economies of scale
and reduce cost of delivering the services. The goal of Rimnaam Hotels and Serviced
Apartments is, therefore, to generate a gross operating profit margin (GOP margin) of
more than 20% per year.
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(4) Earn ratings of more than 9.0 on OTA websites, such as

Booking.com and Agoda, based on real-life traveler ratings.
3.2.3.2 Medium Term Goals (3-5 years)
(1) See an increase in occupancy rate for each year, as
follows:
In the 3rd year of operations, expect the occupancy rate to
be 73%, and 85%, for the hotel and serviced apartment businesses respectively
In the 4th year of operations, expect the occupancy rate to
In the 5th year of operations, expect the occupancy rate to
(2) Build close relationships with customers in order to build
loyalty to Blue Water Vibe Hotel & Serviced Apartments, with not less than 10% of
repeat customers in the next visit.
(3) Maintain a rating of more than 8.8 on OTA sites, such as
Booking.com and Agoda.
(4) Build close relationships with strategic partners to
expand channels to reach target customers, and increase the chance that the business
will have access to new customer bases.
3.3 Competitor Analysis
3.3.1 Direct Competitors

Located within the 10-kilometer radius of the hotel, direct
competitors who offer similar products and services to the to the same customers via
the same market channels as Blue Water Vibe Hotel & Serviced Apartments can be
identified as follows:
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Table 3.3
Direct Competitor Analysis of Blue Water Vibe Hotel & Serviced Apartments
Maneechan Resort Baan Rim Ao Resort Chaanburi Boutique
Resort
Target Thai tourists, with Thai tourists, with Thai tourists, with
Customers moderate to high moderate to high moderate to high
income, who prefer to income, who prefer to income, who travel as a
travel as a couple or as travel as a couple or as a couple, as a group of
a family, for vacations, family, who like sports friends, or as a family,
as well as MICEs or other activities, and who like to take pictures
customers. are looking for and looking for
accommodations set in accommodations with a
natural surroundings. unique style.
Number of
70 Rooms 32 Rooms 24 Rooms
Rooms
Room Rates From THB 2,500 From THB 2,000 From THB 1,900
NET/night NET/night NET/night
Monthly Rate From THB 27,900
From THB 16,000
(With complimentary No
per 14 nights
laundry of 4 pieces)
Room Size 40-50 sq.m 45 sq.m 32 sq.m
Suite Room Yes No No
Family Room Yes No No
Kitchenette No No No
Laundry
Yes Yes No
Service
Breakfast Yes Yes Yes
Elevator No Yes No
Restaurant Yes Yes Yes
Meeting Room Indoor and outdoor Indoor and outdoor Indoor
& Event Space (Maximum 600 (Maximum 300 (Maximum 100
participants) participants) participants)
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Table 3.3
Direct Competitor Analysis of Blue Water Vibe Hotel & Serviced Apartments (Cont.)
Resort
Swimming Pool
Yes Yes Yes
Fitness Yes Yes No
Massage & Spa Yes No No
Hotel Activities Cooking class, cake
Biking, kayaking, boat
decorating class, No
tours
trip to old town
Channels Walk-in, telephone, sales
Walk-in, telephone,
team, Walk-in, telephone,
online travel agencies,
online travel agencies, online travel agencies,
direct website, email,
direct website, email, direct website, email,
Facebook, Instagram, Line
Facebook, Instagram, Facebook, Line Official
Official
Line Official
Strengths • Long establishment • Great location with • Located close to the
• Owners’ personal scenic view of the heart of the city
connection estuary • Nicely decorated in
• Quiet and relaxing • Peaceful and serene colonial style
atmosphere atmosphere, perfect • Offers pool access
• Spacious room with getaway from bustle of rooms
garden view the cities • Meeting room facilities
• Full range of • Famous on-site
breakfast restaurant
• Large meeting rooms • Indoor and outdoor
with maximum 600 event space
pax capacity • Extensive hotel area
• Indoor and outdoor equipped with full
catering for both on facilities
and off-site events
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Table 3.3
Direct Competitor Analysis of Blue Water Vibe Hotel & Serviced Apartments (Cont.)
Resort
Strengths • Large public areas • Water sports &
with fully equipped activities
facilities • Free transfer to
• Activities for kids bus terminal
• Free transfer to bus • Pet-friendly
terminal and old
town
• Tour and excursion
programs available
with additional
charges
Weaknesses • Busy and crowed • Far from the city • Limited choice of
during events and center and major breakfast
weddings tourist attractions • No elevator
• Dated building and • Poor breakfast • Small public area
interior • Insects and • Plumbing smell
• Isolated location – mosquitos • Street noise
no shopping or
restaurants nearby
• No elevator
For detailed information on the direct competitors, please refer to
Appendix G.
3.3.2 Indirect Competitors

Competing in the same market segment with different geographic
location, or products and services, indirect competitors of Blue Water Vibe Hotel &
Serviced Apartments can be identified as follows:
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3.3.2.1 Indirect Competitors of Hotel

Table 3.4
Indirect Competitor Analysis of Blue Water Vibe Hotel & Serviced Apartments – Hotel Business
Baan Luang Rajamaitri Historical Inn Maldives Beach Resort Peggy’s Cove Resort
Target Customers Thai and foreign tourists, aged 21-50 Thai tourists, with moderate to high, Thai tourists, with moderate to high
years old, with a moderately high who travel as a couple or as a family, income, traveling as a couple or family,
income. Like to travel to learn art and who like to travel and looking for a who want peace and privacy and focus
culture and experience the way of life of relaxing accommodation amidst a on accommodations with a unique
the local people with the purpose of natural setting for their vacation. architectural feature.
tourism to gain experience They often
travel alone, in pairs, or in small groups.
Number of Rooms 10 Rooms 70 Rooms 68 Rooms
Room Rates From THB 1,690 NET/night From THB 2,400 NET/night From THB 2,100 NET/night
Room Size 15-32 sq.m 25-72 sq.m 35-60 sq.m
Suite Room No Yes Yes
Family Room No Yes No
Kitchenette No No No
Laundry Service No Yes Yes
Breakfast Yes Yes Yes
Elevator No No No
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Table 3.4
Indirect Competitor Analysis of Blue Water Vibe Hotel & Serviced Apartments – Hotel Business (Cont.)
Restaurant No Yes Yes
Meeting Room & Event Indoor and outdoor Indoor
No
Space (Maximum 100 participants) (Maximum 100 participants)
Swimming Pool No Yes Yes
Fitness No Yes No
Massage & Spa No Yes No
Hotel Activities Biking, cooking classes for kids,
No Kid’s Club
tie dyeing
Channels Walk-in, telephone, online travel agencies, Walk-in, telephone, online travel agencies, Walk-in, telephone, online travel agencies,
direct website, email, Facebook, Instagram, direct website, email, Facebook, Instagram, direct website, email, Facebook, Instagram,
Line Official Line Official Line Official
Strengths • Ideally located in the heart of • Beautiful beach location • Proximity to the beach
Chanthaboon waterfront community • Romantic sea view restaurant • Style and theme of the resort
• Antique atmosphere with historic • Large Infinity pool & kid’s pool • Many photo spots around the hotel
preservation of Rajamaitri’s story • Number of accommodation options, • Quiet and relaxing getaway
• Beautifully decorated guestrooms including both rooms and villas • Activities for all ages
with teak antique • Free ice-cream during afternoon
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Table 3.4
Indirect Competitor Analysis of Blue Water Vibe Hotel & Serviced Apartments – Hotel Business (Cont.)
Weaknesses • Rooms are not soundproof • No elevator • Located in less touristy area
• No parking on site • No watersport facilities • Limited parking space
• Minimal facilities provided • A mix of newly renovated and old • Swimming pool is small and visible
guestrooms from the street side
For detailed information on the indirect competitors of hotel, please refer to Appendix H.
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3.3.2.2 Indirect Competitors of Serviced Apartments
Table 3.5
Indirect Competitor Analysis of Blue Water Vibe Hotel & Serviced Apartments – Serviced Apartment Business
The River Suite The Chance Condominium The Nature Condominium Rachan Residence
Condominium
Image 00
Contact 82 Maharaj Road, Talad, 39 Moo 7, Chantanimit, 1091 Tha Chalaep Road, Talad, 21/90,21/98-99 Chanthanimit,
Information Mueang Chanthaburi, Mueang Chanthaburi, Mueang Chanthaburi, Amphur Muang Chanthaburi,
Chanthaburi 22000, Thailand Chanthaburi 22000, Thailand Chanthaburi 22000, Thailand Thailand 22000
Tel. 088 1177 555 Tel. 088 1177 555 Tel. 085 083 1345 Tel. 039 321 917
facebook.com/ facebook.com/ facebook.com/ www.rachanresidence.com
TRSCondochanthaburi Thechancechanofficial TheNatureCondo facebook.com/rachanresidence
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Table 3.5
Indirect Competitor Analysis of Blue Water Vibe Hotel & Serviced Apartments – Serviced Apartment Business (Cont.)
Condominium
Description A condominium situated along The latest condominium in A boutique 7-storey Located in the heart of
the Chanthaburi River, which Chanthaburi, distinguished by its condominium, situated along Chanthaburi, the property offers
consists of two connected 7- central location and surrounded the Chanthaburi River. The long-term accommodation in
storey buildings, totaling 132 by important places. The interior atmosphere is quiet and contemporary style with full
units. The interior is decorated is decorated in a modern style peaceful and is only 10 minutes facilities.
in a modern luxury style, that matches the lifestyle of the away from the city center.
providing luxury and class. guests.
Target Business owners, government Business owners, government Business owners, government Executives, civil servants, or
Customers officials, or senior executives officials, or company officials, or company company employees, who
with high income, who need employees, with a moderate employees, who require a quiet, require clean, convenient, and
peaceful and private long-term income or higher, requiring private accommodation close to safe accommodation at an
accommodation for relaxation accommodations that provide nature to escape from the affordable price, that can
and residing, and a full range of convenient access to their hustle and bustle of the city. provide convenient access to
facilities. It is also located close workplace, shopping malls, and their workplace, shopping malls,
to popular attractions, shopping restaurants. and restaurants.
malls and restaurants.
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Table 3.5
Condominium
Room Depends on the lessors Depends on the lessors Depends on the lessors 115 Rooms
Availability
Monthly Rates One Bedroom (36 sq.m) Standard (22 sq.m) 4,500.-
starts from THB 10,000.- Superior (48 sq.m) 5,000.-
One Bedroom (30 sq.m) One Bedroom (30 sq.m)
Deluxe (48 sq.m) 5,500
Two Bedroom (56-60 sq.m) starts from THB 8,000.- starts from THB 6,000.-
Rachan Suite
starts from THB 18,000.- 15,000
(48 sq.m)
Fully Furnished
Yes Yes Yes Yes
Rooms
In-Room
No No No Available with extra charges
Amenities
Utility Charges Exclusive Exclusive Exclusive Inclusive
Internet & Wi-Fi Exclusive Exclusive Exclusive Inclusive
Available upon request Available upon request Available upon request Available upon request
Cleaning Service
with additional charges with additional charges with additional charges with additional charges
Laundry Service No No No Coin laundry
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Table 3.5
Condominium
Elevator Yes Yes Yes Yes
Swimming Pool Yes No Yes No
Fitness Yes No Yes No
Co-Working
No Yes No No
Area
Restaurant No No No No
Parking Space Indoor & outdoor Indoor & outdoor Indoor & outdoor Outdoor
Security Keycard access, CCTV, Keycard access, CCTV, Keycard access, CCTV, Keycard access, CCTV,
Systems 24-hour security guards 24-hour security guards 24-hour security guards 24-hour security guards
Contract Term Minimum 12-month contract Minimum 12-month contract Minimum 12-month contract Minimum 6-month contract
Advance 2-month deposit / 2-month deposit / 2-month deposit /
1-month rent in advance
Payment 1-month rent in advance 1-month rent in advance 1-month rent in advance
Walk-in, Telephones, Walk-in, Telephones, Walk-in, Telephones, Walk-in, Telephones,
Channels
Facebook Page Facebook Page Facebook Page Website, Facebook Page
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Table 3.5
Condominium
Strengths • Quiet and relaxing natural • Convenient location – close • Quiet and relaxing natural • Convenient location –
atmosphere along the to shopping mall, atmosphere along the close to shopping mall,
Chanthaburi river restaurants, flea markets, Chanthaburi river restaurants, flea markets,
• Convenient location – close hospitals, schools etc. • Close to government offices hospitals, schools etc.
to shopping mall, • Coworking area • Pool and fitness facilities
restaurants, flea markets,
hospitals, schools etc.
• Pool and fitness facilities
Weaknesses • Limited parking space • No swimming pool and • Away from the city center • Centrally located and the
• Minimum 12-month contract fitness facilities and major facilities such as street can be busy and
• Advance payment required • Limited parking space shopping mall, restaurants, noisy
• Minimum 12-month hospitals, schools etc. • No swimming pool and
contract • Limited parking space fitness facilities
• Advance payment required • Minimum 12-month • Limited parking space
contract
• Advance payment required
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3.4 SWOT Analysis
3.4.1 Strengths
(1) The property is the first in Chanthaburi province to provide
accommodation in the form of serviced apartments for Thais and foreigners who need
long-term accommodation.
(2) All rooms are equipped with a full range of amenities to
accommodate long-term stays, and that is why the rooms at Blue Water Vibe Hotel &
Serviced Apartments are well-known for its generous amenities when compared to
general hotel rooms. Some of these amenities include kitchen and kitchen equipment,
dining sets, washing machines, etc.
(3) The location of Blue Water Vibe Hotel & Serviced Apartments is
located along the Chanthaburi River, which in addition to giving the property a
beautiful, quiet, and relaxing atmosphere, also provides convenient access to several
popular tourist attractions and interesting places, such as chic cafes, restaurants, flea
markets, department stores, hospitals, etc.
(4) Strong reputation of the parent brand, Water Vibe Hotel, can
contribute to the successful establishment of Rimnaam Hotel & Service Apartments.
By leveraging the brand equity and reputation of the existing successful brand,
Rimnaam Hotel & Service Apartments would not need to build brand awareness from
scratch. Moreover, customers who are loyal and trust in Rimnaam Klangchan are likely
to pass on their positive attitudes to Blue Water Vibe Hotel & Serviced Apartments,
making them more receptive to its offerings.
3.4.2 Weaknesses
(1) As a new sub brand, Rimnaam Hotel & Service Apartments may
not be widely known among travelers yet as it takes time to build recognition,
acceptance, and trust from target customers, and may require the extensive use of
public relations activities through several channels. As a result, operating costs in the
early stages may be high.
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(2) Due to the limited number of parking spaces, there may not be
enough for customers on high occupancy days, or on days where conferences,
seminars, or banquets, are held. As a result, some customers may have to park on the
roadside or walk long distances to get to the property.
(3) There is a high cost per room due to the extensive facilities
available in each room.
(4) The unsuccessful establishment of Rimnaam Hotel & Service
Apartments can negatively impact Water Vibe Hotel’s business and affect its customer
loyalty and trust. Bad customer experiences can also lead to a dilution or damage of
Rimnaam Hotel & Service Apartments and Water Vibe Hotel’s brand image.
3.4.3 Opportunities
(1) Chanthaburi Province is full of cultural attractions and is endowed
with an attractive cultural and natural setting, such as traditional communities by the
water, ancient sites, the sea, mountains, or waterfalls. It is also the province where the
only gem market in the country can be found, as well as a place of religious
importance, Khao Khitchakut (or the Khitchakut mountain range) that everyone wants
to experience. It is also a popular source of fresh fruits and seafood and located not
very far from Bangkok, but still not close enough for a day trip. However, the overnight
accommodations and food are cheaper than in nearby provinces. These factors have
made Chanthaburi province a popular tourist destination among travelers, contributed
to the continuous growth of the local tourism industry, and positively affected the
hotel and serviced apartment business.
(2) Chanthaburi’s territory currently borders Cambodia which enables
the province to not only benefit economically from border trade with Cambodia but
also allows it to benefit from Cambodia’s high-income groups who visit Chanthaburi
for tourism, shopping, seek medical treatments, or even studying. These are the
promising business opportunities for the hotel and serviced apartment businesses.
(3) Chanthaburi has also been classified as one of the secondary
tourism cities that are promoted by the government. As a result, relevant agencies
have formulated plans and assigned budgets to support and promote tourism in the
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province, a good example of which is the tax deduction measures, in order to generate
increased interest among tourists and travel to the province, which directly benefits
hotel and serviced apartment businesses.
(4) Additionally, Chanthaburi is also one of the beneficiaries of the
government’s Eastern Economic Corridor (EEC) project from the high-speed rail project
connecting the country’s 3 main airports (Don Mueang, Suvarnabhumi, and U-Tapao).
Phase 2, which is an extension from the U-Tapao Station in Rayong Province to
Chanthaburi and Trat, covers a total distance of approximately 190 kilometers. When
the project is completed, it is expected to enhance convenience and reduce travel
time between Bangkok and Chanthaburi and contribute benefits to the overall
accommodation business in the province.
(5) Presently, Chanthaburi does not have any operators offering
accommodation in serviced apartments. Blue Water Vibe Hotel & Serviced Apartments
is, therefore, considered the first player in the province to enter the market. As a
pioneer, Blue Water Vibe Hotel & Serviced Apartments has an advantage over other
competitors in setting standards and rental prices. It also has the opportunity to reach
out to various customer groups and gain market share before any other competitors,
or commonly known as first-mover advantages
(6) Collaboration with other relevant local businesses to offer
additional benefits, such as cooperation with ‘long’ or processed fruit factories,
gemstone companies, hospitals, community attractions in the province, etc., helps in
promoting business alliances and increasing accessibility channels to consumers.
Additionally, it also helps in increasing the chance for businesses to have access to a
growing customer base. It is a win-win relationship that creates benefits and values for
both customers and partner companies.
3.4.4 Threats
(1) The COVID-19 pandemic, which started in December 2019, has
greatly affected Thai and world tourism and caused widespread disruption to
international travel. This also resulted in a decrease in the number of both Thai and
foreign tourists, although in 2022 the tourism industry may see an improvement due
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to the worldwide vaccination program. The government has started to open up the
country for both inbound and outbound visitors. However, the Ministry of Tourism has
predicted that the tourism industry in Thailand may take up to 2024 to fully recover
and see income from tourism to its previous 3 trillion-baht target achieved in 2019.
The spread of the COVID-19 virus is one of the obstacles that hotel and serviced
apartment operators in Chanthaburi will need to find a way to adjust their service
guidelines to support the new normal tourism and cope with more intense competition
from both local and outside the province.
(2) Due to the COVID-19 pandemic, the economic situation in
Thailand has suddenly ground to a halt causing many businesses to lay off their staff
or promote temporary leave of absence without pay, as well as, wage cuts, all of which
has caused a huge decline in the income of Thais and resulting in a slowdown in
tourism expenses.
(3) The limited economic potential has resulted in the drain of a large
amount of skilled For this reason, it has resulted in an increase of more than half
unskilled workers remaining in Chanthaburi. This labor limitation may be one of the
major obstacles in the operation of the hotel and serviced apartment business where
service is the core structure of the business and workers are one of the important
mechanisms that lead businesses to success.
(4) Chanthaburi’s natural attractions are not as popular with
foreigners as neighboring provinces. It can be noted that seaside attractions of the
province are considered less popular than the coastal provinces of the east, whether
it is Chonburi, Rayong or Trat. Simultaneously, the province’s jungle attractions are
also less popular than the jungle attractions in Prachinburi or Sa Kaeo provinces, and
for this reason, many tourists still view Chanthaburi as just a transit city on the way to
nearby provinces.
(5) The proportion of the accommodation business is increasing on a
yearly basis, making it a highly competitive industry in terms of pricing and service.
More and more competitors, both large and small, in various forms, including hotels,
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resorts, homestays, or vacation homes, with a better location and more capital, can
easily come in and take over the market share.
3.5 Strategic Business Management Approaches
3.5.1 Corporate-Level Strategy

Blue Water Vibe Hotel & Serviced Apartments is an expansion
strategy of Water Vibe Hotel that seeks to grow and expand its business through
concentric diversification. The establishment of Blue Water Vibe Hotel & Serviced
Apartments will broaden the existing product lines of Rimnaam Klangchan by adding
a new related serviced apartment business into its already established hotel portfolio.
This will not only allow the business to benefit from increased customer share in the
market, but also from sharing of resources, reduction of costs, and thereby increase in
profitability.
Following concentric diversification strategy, during the first 1-2 years
of business, Blue Water Vibe Hotel & Serviced Apartments will focus on utilizing the
existing competencies and abilities of Water Vibe Hotel to help launch new products
and services to the market, while building brand awareness to make the property more
well-known among its target customers and guests, i.e. generate more interest so that
they may come and use the service. It will also emphasize the importance of personnel
development, as well as the quality of rooms and services to make an impression to
its guests for repeat visits and word-of-mouth. Besides, it will cooperate with Water
Vibe Hotel in resource sharing and skills transfer in order to realize economies of scale
and become more competitive in the market.
Over the medium to long term, Blue Water Vibe Hotel & Serviced
Apartments will continue to focus its growth strategy on increasing the occupancy and
revenue from the hotel and serviced apartment segment to meet its targets, by
focusing on proactive marketing communications, to attract tourists and
businesspeople through the Blue Water Vibe Hotel & Serviced Apartments direct online
and offline channels. Simultaneously, as the business expands, Blue Water Vibe Hotel
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& Serviced Apartments will begin working in partnership with other relevant local
businesses through alliance strategies to increase channels to reach out to consumers
and increase the chance that the business will have a continuous expanding new
customer base.
3.5.2 Business Level Strategy
For a business-level strategy, Rimnaam Hotel & Serviced Apartment will utilize a
differentiation strategy to differentiate itself from other competitors in the industry. As
mentioned, Rimnaam Hotel & Serviced Apartment is the first operator in Chanthaburi
to offer serviced apartments with a focus on meeting the needs of long-term guests
by offering comfortable accommodation and hotel-level services. Rimnaam Hotel &
Serviced Apartment is also unique from its competitors in terms of offering a full range
of amenities for both its hotel and serviced apartments, such as kitchens and kitchen
equipment, dining sets, washing machines, etc., to accommodate both short-term and
long-term residents.
3.5.3 Functional Level Strategy
As Blue Water Vibe Hotel & Serviced Apartments is regarded as a
medium-sized business providing accommodations in the range of 30-100 rooms,
therefore, to ensure smooth and uninterrupted services, its operations have been
classified into 8 departments according to the nature of work and duties, as follows:
(1) Front Office – responsible for room reservations, welcoming
guests, verifying booking information, registration, and settling payments. It also
includes introducing the hotel’s services and amenities to the guests and liaising with
other departments within the hotel to assist with various matters as requested by the
guests.
(2) Housekeeping – responsible for maintaining cleanliness and
tidiness of the rooms, common areas, office space, and the property’s surroundings.
(3) Kitchen – responsible for preparing all the food and beverages
that will be served to the guests, including all other types of food-related activities,
from planning the purchase of raw materials, food menus, controlling food budgets,
and other matters where appropriate.
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(4) Food & Beverage – responsible for serving food and beverages
to guests at various outlet points where food and beverages are sold, such as
restaurants, conference rooms, seminars, etc.
(5) Finance & Accounting – responsible for the property’s
accounting and financial aspects, control of payments and receivables, tax planning,
interest payments, operational costs, to ensure that the business operates smoothly
with reasonable financial costs, as well as prepare financial reports for management
and related parties. The functions also include procurement and storage, managing
raw materials or consumables so that they can be delivered in a timely manner,
prevent overbuying and shortages.
(6) Sales & Marketing – responsible for the coordination of group
bookings, arranging meetings or banquets, tour companies, travel agencies, and other
potential customers through personal visits or contact by phone or emails. In addition,
it also includes planning marketing and sales promotions through various channels
such as direct mails, social media (Facebook, Instagram, Line Official) in order to
increase the number of stays to meet the goals set by the company.
(7) Engineer & Maintenance – responsible for handling the
engineering aspects of various active systems within the property, as well as the
maintenance of materials and equipment to keep them in good working condition and
ready for use at all times.
(8) Human Resources & Administration – responsible for maintaining
all the general orderliness of the property and the security issues and emergency
responses. It is also responsible for the HR functions of the organization, from recruiting,
managing payroll, wages and welfare, as well as training and the development of
personnel skills appropriate for each job position and ensuring that it is in accordance
with the standards of the hotel.
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CHAPTER 4
MARKET RESEARCH
From seeing an opportunity of operating a hotel and serviced apartment

business in Chanthaburi, therefore, in order to enable Blue Water Vibe Hotel & Serviced
Apartments to have a competitive edge in the hospitality industry and truly respond
to the needs of the target group, research is needed to study the behavior and needs
of customers which can be used in strategic planning to differentiate itself from its
competitors and create competitive advantages.
4.1 Research Objectives
(1) To study the behavior and demands of consumers in the hotel and
serviced apartment sector, in Chanthaburi Province.
(2) To study the marketing mix factors that affect hotel and serviced
apartment stays in Chanthaburi Province.
(3) To use the information obtained, for analysis and use in strategic
planning and making management decisions within the business, and creating
satisfaction for the target customers.
4.2 Expected Outcomes
(1) To be aware of future business opportunities and project feasibility.

(2) To be aware of the appropriate guidelines for operating a hotel and
serviced apartment business in Chanthaburi province, consumer behavior and needs,
and the marketing mix that affects the target group’s decision in choosing to use the
service.
(3) Use the information for further analysis and marketing strategy planning,
as well as implementations to meet the needs of the target customer group.
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4.3 Research Scope
(1) Content, focus on the study of consumer behavior and the marketing
mix that affects the decision to use hotels and serviced apartments in Chanthaburi
(2) Population, focus on studying Thai and foreign visitors that travel and
stay in Chanthaburi.
(3) Research period, conduct the research in March and April 2022.
(4) Variables, independent variables consisting of personal data, consumer
behavior, and marketing mix. The dependent variable is the decision to use hotel and
serviced apartments in Chanthaburi province.
4.4 Literature Review
4.4.1 Marketing Mix Theory

Consist of the 7Ps (Booms & Bitner, 1981), which is used in this
research and include the following;
4.4.1.1 Product
Refers to what is being offered for sale by a business to create
customer satisfaction by meeting their needs. The products offered for sale may or
may not exist and consist of goods, services, and ideas. The products must possess
advantages and value in the eyes of the customer, thus enabling it to be sold. For
products that are in the form of a service, businesses must create and offer something
tangible to symbolize the intangible service to build confidence and satisfy the
customer.
4.4.1.2 Price
The monetary value of the product, which is the cost of the
product in the purchase decision of the consumer. Consumers will compare the value
with the price of the product, in which if the value of the product in the customer’s
eyes or feelings is evaluated to be higher or suitable for its price, will prompt a decision
to buy.
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4.4.1.3 Place
In the service sector, the location of the business is a top
priority factor as it will determine the consumer group that will come in to receive the
service. The right or ideal location can effectively reach out to the desired target group.
4.4.1.4 Promotion
The communication of product information between the
buyer and the seller will help create attitudes and influence buying behaviors. The
communication process may use the salesperson to personal selling, or use the media
as a communication tool for non-personal selling. It can be divided into 6 main
categories: advertising, personal selling, sales promotion, publicity and public relations,
direct marketing, and special events.
4.4.1.5 People
In the service sector, people are an essential part of a
successful business as it can create satisfaction for customers and bring them back for
repeat purchases or drive them away, from just one interaction. Therefore, it is
imperative that the attention and preparation of the personnel are especially
important, from recruiting, training, and developing personnel to having sufficient
potential to provide the necessary services.
4.4.1.6 Process
An effective marketing process produces good results and
customer satisfaction. Selling products or services always involves a service process,
such as providing information, making recommendations, selling, delivery, receipt of
payments, or the after-sales service, all of which involve processes that have direct
contact with customers. The key factor of the process is the speed and accuracy which
involves Method, Machine, and Men. If the business can manage all 3Ms effectively, it
would result in customer satisfaction.
4.4.1.7 Physical Evidence and Presentation
Demonstrating the quality of service through the use of visual
evidence, such as providing an impression of the physical environment, decorative
designs, or dividing an area, including the related equipment, tools, and appliances
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used in providing the service and creating a clean, beautiful, and airy atmosphere, can
effectively attract customers to take in the image or value of the service they want to
deliver.
4.4.2 The Demographic Theory
Philip H. Hauser and Otis Dudley Duncan defined demography as the
quantitative study of population, by studying its size, distribution, and composition of
the population, and results in each recipient, with their unique characteristics, which
includes sex, age, marital status, education, occupation, income, personality, skills,
experience, etc., receiving different exposure behaviors. However, due to the wide
range and variety of recipients, it is difficult to conduct analysis to reach each individual
audience and they are, therefore, classified into different types of groups, i.e.
demographic characteristics such as age, sex, socio-economic status, education,
religion, etc., under the assumption that if these characteristics are combined, they will
have similar attitudes and behaviors (Wrong, 1959). Demographic characteristics and
statistics are measurable and make it possible to effectively determine target
customers than other variables. The main personal characteristic variables are, as
follows:
4.4.2.1 Age
People of different ages have different needs for goods and
services. The behavioral response to communication also varies with age, because at
each life stages people tend to change the place where they spend most of their time.
For example, young children tend to stay at home, teenagers spend most of their time
with friends or at school, while the working age group spends most of the time mainly
in the workplace.
4.4.2.2 Gender
The cultural and social roles of women and men are different
which results in differing communication behavior of women and men. Therefore,
gender is an important variable in marketing segmentation, as different genders have
different attitudes and behaviors. Women tend to be cautious about collecting
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information from their surroundings, while men tend to focus on their desired goals.
This has resulted in applying gender differences to marketing segmentation.
4.4.2.3 Marital Status
An individual’s marital status dictates the differences in how
a person lives, which includes their needs, attitudes, and values. And these can result
in different consumer demands for products and services. It is also related to the
financial status and interests of different individuals, thus resulting in marketers to
study the number and characteristics of people in the household to consider the
selection of media that is suitable for the decision-makers in each household, as well
as improve and develop marketing strategies appropriately.
4.4.2.4 Education
Different education levels result in differing behaviors of
receiving messages from different media, including the consumption of different
products. Those with higher education are more likely to consume better quality
products than those with less education. This is due to the fact that individuals with
higher education tend to have higher-paying jobs than those with less education, and
therefore, tend to consume more quality products.
4.4.2.5 Occupation
Different occupations result in different ideologies and values
towards different things. It also affects different ways of spending time and occupying
space. Marketing communications take occupational differences into account in order
to develop strategies to meet target customers. In addition, different occupations also
affect different product needs, for example, an average employee buys items that are
necessary for their livelihood, while executives will buy products to enhance their
image.
4.4.2.6 Income
Is one of the factors that affect the decision to purchase a
product or service. If the income of the target audience is large, they can choose to
buy non-essential products or services, such as luxury goods. If the target audience
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does not have a very high income, they will most likely choose to consume products
that are fundamental and affordable.
All in all, these demographic concepts attempt to point out
differences between individuals due to their differing demographics based on the
concept that consumers behave differently due to different demographic
characteristics.
4.5 Primary Data Study
4.5.1 Qualitative Research

4.5.1.1 Research Methodology
Population and Sampling Methods
The researcher applied the purposive sampling method, and
made a selection of 10 samplings, classified by Thai and foreign visitors, males and
females, single and family, aged 21-60 years, and possess purchasing power, who
stayed in hotels or long-term accommodations in Chanthaburi. The sample was
equally divided into 2 groups, i.e. 5 people who stayed in hotels in Chanthaburi within
the past 6 months, and 5 people who stayed in long-term accommodations in
Chanthaburi within the past 6 months.
4.5.1.2 Research Tools
Research tools used in the collection of primary data included
conducting in-depth interviews through semi-structured questions based on pre-
defined topics and questions, in order to obtain all the necessary information
consistent with the objective of the research. The questions (see Appendix I) were
divided according to the sample groups as follows:
(1) Customers who stayed in hotels in Chanthaburi within the past
6 months
1. General information of the informant.
2. Travel behavior and choice of accommodation in
Chanthaburi.
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3. Consumer satisfaction with the hotels used in Chanthaburi.

4. Problems and the users’ actual needs of their hotel stay in
Chanthaburi.
5. Marketing mix factors that affect the decision to use a hotel
in Chanthaburi.
6. Feedback of Blue Water Vibe Hotel & Serviced Apartments
and trends in their use of the service.
(2) Customers who stayed in long-term accommodations in
Chanthaburi within the past 6 months
1. General information of the informant.
2. Travel behavior and choice of accommodation in
Chanthaburi.
3. Consumer satisfaction with the long-term accommodations
used in Chanthaburi.
4. Problems and the users’ actual needs of their long-term
accommodation stay in Chanthaburi.
5. Marketing mix factors that affect the decision to use a long-
term accommodation in Chanthaburi.
6. Feedback of Blue Water Vibe Hotel & Serviced Apartments
and trends in their use of the service.
4.5.2 Quantitative Research
4.5.2.1 Research Methodology
(1) Group of Interest
Thai and foreign visitors who have used hotels (short-term) or
long-term accommodations in Chanthaburi, Rayong, or Trat provinces covering all
genders and all age groups, to measure research objectives in all sample groups.
(2) Population and Sampling Methods
The determination of the sample group used in this research
was made through the use of the proportional determining method. The sample size
was determined according to Yamane’s sample size table method, with a confidence
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level of 95% and a 5% error level. The appropriate number of samples for this study
was found to be 400.
4.5.2.2 Research Tools
In order to collect primary data through the use of the
questionnaire method, the researcher has created questions (see Appendix J and K)
from the study of secondary data. The questions were divided into 5 parts as follows:
(1) General Information of the respondents
(2) Behavior in staying at hotels and long-term
accommodations
(3) Marketing mix factors affecting hotel and serviced
apartment accommodation decisions
(4) Decision to stay in a hotel and serviced apartment in
Chanthaburi.
(5) Additional suggestions or comments
4.6 Research Results
4.6.1 Qualitative Research

From the in-depth interviews of the two sample groups, namely,
visitors who use hotels in Chanthaburi province within the past 6 months, and visitors
using long-term accommodations in Chanthaburi within the past 6 months, according
to the details of the informants in Appendix L, the results of the research can be
Table 4.1
Qualitative Research Results

Topic Hotel Long-Term Accommodation
Travel behavior of • Mostly came for tourism or work. • Mostly came for work purposes.
the informant - Leisure visitors: Travel with • Length of stay ranges from one
their companions, friends, or month to more than one year.
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family. Average stay of 1-2 • Live alone or with families.
nights on Fri and Sat.
- Business visitors: Travel alone,
average stay of 2 nights during
weekdays. Visit Chanthaburi 2-
3 times per year.
Consumer • Cleanliness, friendliness, and the • Convenient location, pleasant
satisfaction attentiveness of the staff, hotel weather, strong security system
appearance, reasonable prices
Travel behavior of • Mostly came for tourism or work. • Mostly came for work purposes.
the informant - Leisure visitors: Travel with • Length of stay ranges from one
their companions, friends, or month to more than one year.
family. Average stay of 1-2 • Live alone or with families.
nights on Fri and Sat.
- Business visitors: Travel alone,
average stay of 2 nights during
weekdays. Visit Chanthaburi 2-
3 times per year.
Consumer • Cleanliness, friendliness, and the • Convenient location, pleasant
satisfaction attentiveness of the staff, hotel weather, strong security system
appearance, reasonable prices
Problems and the • Disturbing noises, poor room • Walls are not soundproof,
consumers’ actual quality, limited breakfast choice, insufficient parking spaces,
needs no on-site elevator construction and decorative
materials are not as high quality
Factors that affect • Atmosphere and environment of • Accommodation environment,
the decision to the accommodation, location, location, safety, comfort, and
use a hotel or price, and decorative designs room quality
serviced
apartment
Room and • Primary deciding factors: • Primary deciding factors: Room
Facilities Cleanliness, room quality, and quality and complete set of
room size amenities
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• Secondary deciding factors: • Secondary deciding factors:
Guest reviews and breakfast Facilities such as fitness centers,
options swimming pools, and car park
Price • Leisure visitors: Average price of • Average monthly rent of 10,000-
3,000 baht per night 12,000 baht for single
- May be willing to pay higher if occupancy, and 20,000 baht for
located amidst a beautiful family occupants.
natural surrounding - Ready to consider more
• Business visitors: 1,500-3,000 expensive options if services
baht per night offered are of higher quality.
Location • Leisure visitors: Close to major • Close to workplaces, as well as
tourist attractions or close to various other facilities such as
beautiful natural settings shopping malls, restaurants, and
• Business visitors: Close to hospitals, etc.
workplaces or in the city close to
amenities
Communication • Searched for information through • Searched for information from
& Distribution search engines and OTAs. search engines or real estate
Channels • Compare prices across channels listings/leasing websites (e.g.,
(OTAs, hotel websites, direct DDproperty, RentHub).
bookings) and book with the • Contacted the property directly
channel that offers the best to request an inspection, and
deal. book directly with the property.
Promotion • Leisure visitors: Room discounts • Do not affect their decision to
or value room packages stay for an extended period.
• Business visitors: Discounts or • However, having discounts or
privileges offered for repeat special privileges for long-term
customers tenants would be nice.
Staff • Moderate to high satisfaction of the sample group due to:
- Enthusiasm, and politeness in providing information and answering
questions at the time of booking.
- Smiling staff, attentiveness, greeting, talking, and asking for feedback
during the stay.
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- Personalized services, such as greeting by name, making them feel
more special at that property.
Service Process • Satisfied with the service process • Prefer to have more flexible
of the hotels they have stayed rental contract terms, and to
• Feel much more confident if the have cleaning service included in
hotels implement clearly visible the room service.
COVID-19 protection measures,
as well as display a SHA+
certification.
Physical • Surrounding atmosphere is more important than building structure
Surroundings • Prefer accommodations that are close to nature, pleasant weather,
and a beautiful surrounding atmosphere.
• Prefer warm, modern and contemporary design.
• Require standard security system e.g., CCTV systems and fire alarms
Test Concept of • Shown interest in using the • Would consider using the services
Blue Water Vibe services for both single and in the future due to:
Hotel & Serviced family rooms - Comprehensive facilities
Apartments • Like living area, as well as, a - Convenient for single
kitchen, that is separated from occupants as rates are
the bedrooms inclusive of cleaning services
• Location is convenient and easy - More flexible than
to access condominiums or apartments
due to shorter lease term
- Similar to hotels but at a
lower price
For more details on qualitative research results, refer to Appendix M.
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4.6.1 Quantitative Research

From the study of consumer behavior and demand for hotels and
long-term accommodations in Chanthaburi, Rayong, and Trat provinces, through the
use of a questionnaire to collect data from a sample group of 416 Thai and foreign
visitors, the respondents can be classified as 194 long-term visitors, and 222 hotel
visitors, the results of which can be summarized, as follows:
(1) General Information of the Respondents
In collecting data from the questionnaires, the 194 respondents were
visitors who had used long-term accommodation and 222 visitors stayed at hotels.
Most of the respondents who had stayed in hotels were mostly female which
accounted for 74.77%, aged between 31-40 years, or 62.61%, had a bachelor's degree,
or 86.04%, were of Thai nationality, representing 99.10%, and worked as employees in
private companies accounted for 45.95%, with income between 30,001 – 50,000 baht.
Table 4.2
Number and Percentage of Visitors Who Have Stayed at Hotels in Chanthaburi,

Rayong, and Trat Provinces
Characteristics Frequency Percent
Gender Male 55 24.77
Female 166 74.77
Others 1 0.45
Age 21 - 30 years 51 22.97
31 - 40 years 139 62.61
41 - 50 years 29 13.06
51 - 60 years 2 0.90
Over 60 1 0.45
Education Under bachelor’s degree 6 2.70
Bachelor’s degree 191 86.04
Higher than bachelor’s degree 25 11.26
Nationality Thai 220 99.10
Chinese 1 0.45
European 1 0.45
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Table 4.2
Number and Percentage of Visitors Who Have Stayed at Hotels in Chanthaburi,

Rayong, and Trat Provinces (Cont.)
Occupation Government Officer 21 9.46
Corporate Employee 102 45.95
Entrepreneur 77 34.68
Self-Employed/ Freelance 20 9.01
Student 1 0.45
Retired 1 0.45
Monthly Income Below 15,000 Baht 2 0.90
15,001 - 30,000 Baht 67 30.18

30,001 - 50,000 Baht 108 48.65
50,001 - 75,000 Baht 28 12.61
75,001 - 100,000 Baht 10 4.50
Above 100,000 Baht 7 3.15
Most of the respondents who used long-term accommodation were

male, accounting for 69.07%, aged between 31-40 years, representing 54.12%, have a
bachelor's degree, or 86.08%, were of Thai nationality, representing 98.97%, have a
career as an entrepreneur/business owner, accounting for 44.85%, with an average
monthly income between 30,001 – 50,000 baht, accounting for 31.44%.
Table 4.3
Number and Percentage of Visitors Who Used to Rent Long-Term Accommodation in

Gender Male 134 69.07
Female 60 30.93
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Table 4.3
Number and Percentage of Visitors Who Used to Rent Long-Term Accommodation in

Chanthaburi, Rayong, and Trat Provinces (Cont.)
Age 21 - 30 years 55 28.35
31 - 40 years 105 54.12
41 - 50 years 27 13.92
51 - 60 years 7 3.61
Education Under bachelor’s degree 13 6.70
Bachelor’s degree 167 86.08
Higher than bachelor’s degree 14 7.22
Nationality Thai 192 98.97
Chinese 2 1.03
Occupation Government Officer 23 11.86
Corporate Employee 67 34.54
Entrepreneur 87 44.85
Self-Employed/ Freelance 13 6.70
Student 2 1.03
Retired 2 1.03
Monthly Income Below 15,000 Baht 3 1.55
15,001 - 30,000 Baht 57 29.38

30,001 - 50,000 Baht 61 31.44
50,001 - 75,000 Baht 48 24.74
75,001 - 100,000 Baht 18 9.28
Above 100,000 Baht 7 3.61
(2) Behavior in Staying at Hotels and Long-Term Accommodations

An analysis of the behavior of the sample group who had stayed at
the hotel found that most of them will stay at hotels in Rayong (60.36%), with most
of them using the service for the second time (59.91%), and usually stayed for a period
of 2 nights (66.67%). The main purpose of staying at the hotel is for tourism-related
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purposes (37.84%), while most of them would stay with family members or relatives
(34.68%). The source that was used to search for hotel information to assist in their
decision were mostly OTAs (67.57%). The frequently used channels to make hotel
bookings are through OTA’s websites (40.54%). The average rate per night is between
1,500-3,000 baht and 3,001-6,000 baht (34.2%). Amenities or services that are needed
in the rooms are mostly tea/coffee makers (68.92%), LAN and Wi-Fi (60.36%), breakfast
service (50%), smart TV with cable service (45.5%), and Bluetooth speakers (41.44%).
As for amenities or services that would be needed in hotels are mostly a 24-hour
reception service (77.48%), followed by massage and spa services (69.37%), room
service (63.51%), restaurant/bar (63.06%), and a swimming pool (49.1%).
An analysis of the behavior of the sample group who had used long-
term accommodation found that most of them would rent on a long-term basis in
Rayong (73.27%), have used the service only once (52.97%), but as many as 41.09%
had returned for a second time. Most of them would choose to stay in an apartment
and serviced apartments, accounting for 54.46% and 45.54% respectively. The average
length of stay for most was 1 month at a time (46.53%). The main objective of their
stay was mostly work/business-related (42.57%). Most of them traveled alone
(42.08%). The source that was frequently used to search for accommodation
information in order to make a decision was mainly websites (72.28%), while most
bookings were made through direct channels (55.45%). Accommodation expenses was
between 8,001-10,000 baht (39.11%). The most desired amenities or services in the
rooms are tea/coffee making machines (64.36%), followed by smart TV with cable
services (50.99%), work desk (50.99%), an iron and ironing board (47.03%), and washing
machines and dryers (46.53%). As for amenities or services that are needed in long-
term accommodation are: 24-hour reception (66.83%), fitness center (57.92%), laundry
service (50.00%), shuttle service (45.05%), and massage and spa services (44.55%).
More details on hotel stays and long-term rental behavior can be
found in Appendix N.
(3) Marketing Mix Factors Affecting Hotel and Long-Term
Accommodation Decisions
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The overall hotel marketing mix was found to be at the highest level
with an average of 4.44. When considering each aspect, it was found that the pricing
factor was the highest with an average of 4.51, service personnel (People) yielded an
average of 4.45, followed by distribution channels/location (Place) with an average of
4.43, service process (Process) with an average of 4.43, room and service (Product) an
average of 4.43, physical evidence, an average of 4.42, and marketing (Promotion), with
an average of 4.39, respectively.
Table 4.4
Mean and Standard Deviation of Hotel Marketing Mix

Standard
Marketing Mix Mean
Deviation
1. Product 4.43 0.48
2. Price 4.51 0.50
3. Place 4.43 0.49
4. Promotion 4.39 0.51
5. People 4.45 0.47
6. Process 4.43 0.51
7. Physical evidence 4.42 0.50
Mean 4.44 0.50
As for the overall marketing mix of long-term accommodation, it was

found to be at a high level with an average of 3.89. When considering each aspect, it
was found that the pricing factor (Price) was the highest with an average of 4.14,
followed by Service personnel (People) 4.01, physical evidence 3.97, marketing
(Promotion) 3.85, service process (Process) 3.80, distribution channels/location (Place),
yielded an average of 3.76, and room and service (Product) 3.72, respectively.
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Table 4.5
Mean and Standard Deviation of Long-Term Accommodation Marketing Mix

Standard
Marketing Mix Mean
Deviation
1. Product 3.72 0.70
2. Price 4.14 0.69
3. Place 3.76 0.64
4. Promotion 3.85 0.63
5. People 4.01 0.60
6. Process 3.80 0.66
7. Physical evidence 3.97 0.60
Mean 3.89 0.64
(4) Decision to Stay in Hotels and Long-Term Accommodations

In hotel stays, the decision to stay in hotels was at the highest level,
with an average of 4.44, while in the long-term accommodations, consumers’ level of
decision-making was at a high level, with an average of 4.10.
Table 4.6
Mean and Standard Deviation of Hotel Stay Decisions in Chanthaburi, Rayong, and
Trat Provinces
Standard
Decision Mean
Deviation
1. I am willing to recommend my satisfied 4.39 0.71
hotel to others
2. I prefer to stay in a hotel over other types 4.56 0.63
of accommodation
3. I will revisit my satisfied hotel in the future 4.36 0.64
Mean 4.44 0.54
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Table 4.7
Mean and Standard Deviation of Long-Term Accommodation Rental Decisions in

Standard
Decision Mean
Deviation
1. I am willing to recommend my satisfied 4.24 0.86
hotel to others
2. I prefer to stay in a hotel over other types 4.12 0.75
of accommodation
3. I will revisit my satisfied hotel in the future 3.94 0.81
Mean 4.10 0.60
(5) Analysis of the demographic factors influencing the selection of

hotels and long-term housing in Chanthaburi, Rayong, and Trat provinces.
The demographic analysis consisted of gender, age, level of
education, nationality, occupation, and average monthly income as they related to
hotel and long-term residence selection in Chanthaburi, Rayong, and Trat. The
statistical significance level was determined at the 0.05 using One-way ANOVA as
follows:
In the analysis of population characteristics influencing the decision
to stay at a hotel in Chanthaburi, Rayong, and Trat provinces, different ages were found
to have different effects on the decision to stay at a hotel in Chanthaburi, Rayong, and
Trat provinces. Statistically significant at the 0.05 level (p-value = 0.015), the age group
between 21 and 30 years old has the highest average decision to stay in a hotel (4.654),
followed by the age group between 51 and 60 years old (4.500)
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Table 4.8
One-way ANOVA of Different Age Groups in the Decision to Select a Hotel

Age Frequency Average S.D. F Sig.
21 - 30 years 51 4.654 0.476 3.153 0.015*
31 - 40 years 139 4.349 0.586
41 - 50 years 29 4.470 0.212
51 - 60 years 2 4.500 0.707
Over 60 1 4.330 0.000
*Showing statistical significance level of 0.05
In the analysis of population characteristics influencing the decision
to select long-term accommodation in the provinces of Chanthaburi, Rayong, and Trat,
it was discovered that different ages and average monthly incomes influenced the
selection of long-term accommodation.
For the purpose of age demographics analysis, the age group
between 41 and 50 years old was found to have the highest level of decision making
for long-term stays, with an average score of 4.391, followed by the age group between
51 and 60 years old, with an average score of 4.190. While, statistically significant at
the 0.01 level, the income group of 100,001 baht or more tends to have the highest
average decision to stay in a long-term accommodation (4.620), followed by the
income group of 75,001-100,000 baht (4.463).
Table 4.9
One-way ANOVA of Different Age Groups in Long-Term Stay Decisions

Age Frequency Average S.D. F Sig.
21 - 30 years 55 3.918 0.688 4.364 0.005*
31 - 40 years 105 4.115 0.530
41 - 50 years 27 4.391 0.380
51 - 60 years 7 4.190 0.998
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Table 4.10
One-way ANOVA of Different Income Groups in Long-Term Stay Decisions

Monthly Income Frequency Average S.D. F Sig.
Below 15,000 Baht 3 4.110 0.191 8.964 0.000*
15,001 - 30,000 Baht 57 3.750 0.666
30,001 - 50,000 Baht 61 4.138 0.460
50,001 - 75,000 Baht 48 4.278 0.529
75,001 - 100,000 Baht 18 4.463 0.488
Above 100,000 Baht 7 4.620 0.357
(6) Analysis of marketing mix factors influencing hotel and long-term
accommodation stay decisions
The marketing mix factors that influenced the decision to stay in
hotels in Chanthaburi, Rayong, and Trat provinces, include physical evidence (Beta
value of 0.348), followed by service process (Beta value of 0.344), and pricing (Beta
value of 0.262) and were statistically significant at 0.01.
Table 4.11
Analysis of Marketing Mix Factors Influencing the Decision to Choose a Hotel

Unstandardized Standardized
Model Coefficients Coefficients t Sig.
B Std. Error Beta
1 (Constant) -0.192 0.136 -1.409 0.160
Product 0.003 0.068 0.002 0.039 0.969
Price 0.280 0.060 0.262 4.693 0.000*
Place -0.019 0.079 -0.018 -0.242 0.809
Promotion 0.082 0.092 0.078 0.895 0.372
People -0.045 0.093 -0.040 -0.487 0.627
Process 0.364 0.090 0.344 4.029 0.000*
Physical Evidence 0.377 0.072 0.348 5.216 0.000*
R = .929, R2 = .864, Adj R2 = .859, Std. Error Estimate = .202, Durbin-Watson = 1.637, Sig of F = .000
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The marketing mix factors influencing the decision to stay at long-

term accommodation in Chanthaburi, Rayong, and Trat provinces, include price (Beta
value of 0.233), product (Beta value of 0.212), and marketing promotion (Beta value of
0.123) and were statistically significant at .05.
Table 4.12
Analysis of Marketing Mix Factors Influencing the Decision to Choose a Long-Term

Accommodation
Unstandardized Standardized
Model Coefficients Coefficients t Sig.
B Std. Error Beta
1 (Constant) 0.360 0.134 2.690 0.008**
Product 0.212 0.049 0.250 4.299 0.000**
Price 0.233 0.041 0.270 5.741 0.000**
Place 0.015 0.054 0.016 0.277 0.782
Promotion 0.123 0.049 0.129 2.534 0.012*
People 0.151 0.080 0.151 1.884 0.061
Process 0.087 0.055 0.096 1.566 0.119
Physical Evidence 0.133 0.082 0.133 1.623 0.106
R = .906, R2 = .820, Adj R2 = .814, Std Error Estimate = .257, Durbin-Watson = 2.041, Sig of F = .000
**Showing statistical significance level of 0.01
To analyze the marketing mix factors that influence the decision to stay in
hotels and long-term accommodations in Chanthaburi Province. According to the
findings of qualitative and quantitative research, people who have stayed in hotels
and long-term residences have distinct preferences for lodging. Guests who have
stayed at the hotel will consider the hotel's physical environment, price, service
process, and location. Quantitative results also indicate that other variables, such as
promotion, play a role in engaging the sample group and is another factor hoteliers
should consider. On the other hand, qualitative and quantitative research results
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indicate that those who have resided in long-term accommodation will consider the
price, product, promotion, location, and physical environment of the property. The
behavioral and decision-making differences between these two groups may be due to
the distinction between hotels and long-term residences in terms of purpose and
length of stay. As a hotel and serviced apartment operator, Blue Water Vibe Hotel &
Serviced Apartments must therefore plan and establish distinct marketing strategies to
meet the varying needs of hotel and serviced apartment target groups.
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CHAPTER 5
MARKETING STRATEGIES
Based on the research results obtained from in-depth interviews and

questionnaires as mentioned in Chapter 4, we can now develop a better understanding
of the needs and behaviors of the target customers. The analyzed information can be
used to plan marketing activities to meet the needs of customers, as follows;
5.1 Target Market
5.1.1 Target Market of the Hotel Segment

5.1.1.1 Primary Target
Thai tourists aged 21-40 years earning 30,000 baht per month
or more. The majority of them are company employees or business owners who often
travel with their companions, friends, or family, on weekends or vacations, for leisure
purposes or visiting friends/relatives who live in the province. This target group tends
to find information regarding accommodations through online channels such as OTAs
or the hotel’s websites, make price and promotion comparisons, and make their
choices to book with the most cost-effective channel. The average stay is usually for
2 nights based on a budget of 1,500-6,000 baht per night. They prefer to travel by their
private cars, indulge in various types of activities, and like to socialize. This group also
prefers a standard room or multi-bedroom and focuses on a beautiful and safe
environment, with the availability of a common area to relax and take photos, a
standardized service, and a price that is worth the quality and service received.
5.1.1.2 Secondary Target
Company employees, government officials, or business
owners, aged 31-50 years, earning 30,000 baht or more, mostly traveling alone or with
their colleagues, for business purposes, or attending corporate meetings/seminars, with
an average stay of 2-3 nights and a budget of 1,500-3,000 per night as spending in this
category is often limited by the organization’s budget. Therefore, this target group
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usually focuses on reasonable prices, comfort and quality of rooms, convenient

location, and standardized service.
5.1.2 Target Market of the Serviced Apartment Segment
5.1.2.1 Primary Target
Company employees, high-ranking government officials, or
businessmen/business owners, both Thai and foreign, who were appointed, relocated,
or assigned to perform duties in Chanthaburi for a period of time that is due to expire
at the end of their terms or when the assigned task has been completed which
sometimes does not have a definite fixed time limit. Most of them are aged between
41-60 years with a monthly income of 75,000 baht or more and in most cases also
receive additional support from their organization for accommodation expenses. This
group of consumers usually require accommodations that are fully furnished with the
availability of amenities and ready for immediate occupancy. They also expect an
external environment that is pleasant to live in, private, conveniently located, and at
a reasonable price.
5.2 Market Positioning
Market positioning is used to convey to customers the differences between

competing products and services in order for them to recognize, comprehend, and
remember them. In contrast to the former Water Vibe Hotel, the market positioning of
Blue Water Vibe Hotel & Serviced Apartments emphasizes modernity rather than
luxury. This is to be consistent with the target audience of Blue Water Vibe Hotel &
Serviced Apartments, which aims to attract younger audiences. And despite slightly
lower room rates, Blue Water Vibe Hotel & Serviced Apartments will continue to
provide rooms and services of the same caliber as Water Vibe Hotel and at a higher
standard than other hotels in the province. Given its generous room amenities and
easy accessibility, Blue Water Vibe Hotel & Serviced Apartments will also focus on high
level of comfort and convenience as another key differentiation from its competitors.
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5.2.1 Market Positioning of the Hotel Segment

As direct competitors such as Maneechan Resort, Baan Rim Ao Resort,
Chaanburi Boutique Resort, and Water Vibe Hotel itself, are nearby businesses that
share the similar service model and target audience as Blue Water Vibe Hotel &
Serviced Apartments. This causes the business to establish a perception diagram in
order to make comparisons with its competitors. The main factors affecting consumer
accommodation decisions are the comfort and convenience of the property and its
price, which are used as a criterion for the overview, the details of which are, as follows;
Comfort & Convenience (High)
Price (Low) Price (High)
Comfort & Convenience (Low)
Figure 5.1 Market Position Comparing Comfort & Convenience and Price of the Hotel
Segment
Figure 5.1 shows Blue Water Vibe Hotel & Serviced Apartments'
market position with direct competitors in terms of comfort & convenience and price.
The comfort & convenience in this aspect will consider the quality and
comprehensiveness of the available facilities in the rooms and hotels. Location,
activities, and services offered are also included in consideration as well. From the
illustration, it can be seen that Blue Water Vibe Hotel & Serviced Apartments offers
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more comfort & convenience than its competitors due to the availability of more in-
room amenities when compared to other hotels. Additionally, the location is easily
accessible and situated in the city center. However, in terms of price, Blue Water Vibe
Hotel & Serviced Apartments are priced at a similar or slightly lower price point than
its competitors. This is due to Blue Water Vibe Hotel & Serviced Apartments’ high-
value strategy that wants their customers to appreciate the value for money when
comparing the service received for the price that they have paid for. Moreover, when
compared to Maneechan Resort and Water Vibe Hotel, these two have a more
luxurious architectural style and image which is the result of decorative styles and the
choice of expensive decorative materials such as real wood. This is reflected in the
selling price of individual rooms, with Maneechan Resort and Water Vibe Hotel setting
higher room rates than Blue Water Vibe Hotel & Serviced Apartments, despite lower
level of comfort & convenience.
5.2.2 Market Positioning of the Serviced Apartment Segment
In terms of comfort & convenience, as Blue Water Vibe Hotel &
Serviced Apartments offers a serviced apartment service, it is different from its
competitors such as The River Suite Condominium, The Chance Condominium, The
Nature Condominium, and Rachan Residence, as these are all condominiums or
general apartment, while the Blue Water Vibe Hotel & Serviced Apartments offers a
full range of amenities such as towels, bedsheets, and bathroom items. This allows
customers to move in immediately without having to make any additional purchases
or move in anything extra. It also offers flexible lease agreements and offers hotel-
level services such as housekeeping, bedding changes, and 24-hour reception services,
therefore, these features mean that the Blue Water Vibe Hotel & Serviced Apartments
has the highest level of comfort & convenience when compared to its competitors.
However, these comfort and convenience are also reflected in its higher room rates
than its competitors.
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Comfort & Convenience (High)
Price (Low) Price (High)
Comfort & Convenience (Low)
Figure 5.2 Market Position Comparing Comfort & Convenience and Price of the Serviced
Apartment Segment
5.3 Marketing Mix (7 Ps)
The data obtained from the market research can be analyzed and used as
a guideline for formulating marketing mix (7 Ps) strategies, as follows:
5.3.1 Product
According to market research, the most important product and
service factor that influences consumers' decision to stay at a hotel and long-term
accommodation is comfort and room quality. For these reasons, the property,
therefore, has developed the concept of providing rooms on a daily and monthly basis,
which are uniquely characterized by a more comprehensive set of facilities and services
than other types of hotels and long-term accommodations. As for the room design
concept, the rooms at Blue Water Vibe Hotel & Serviced Apartments are designed to
be more modern and simple when compared to Water Vibe Hotel, to target customers
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aged 21+ years while still maintaining luxury, standardized services, the quality of
materials and equipment, and the availability of a full set of appliances in the room.
5.3.1.1 Project Planning
Table 5.1
Details of the Project

Project Type Hotel & Serviced Apartments
Address Maharaj Road, Talad, Mueang Chanthaburi,
Chanthaburi 22000, Thailand
Number of Building 1 Building
Number of Floors 7 Floors
Number of Guestrooms 55 units (11 units per floor)
Facilities 3 conference rooms, mailboxes, garden
Number of Parking Spaces 41 (Indoor 24, Outdoor 17)
Land Size 1,658.80 sq.m. (414.7 sq. wah)
Project Area 3,940.8 sq.m.
The structure is a 7-story building consisting of a total of 55
accommodation units. The project plan is rectangular in shape with its narrower side
built parallel to the Chanthaburi river. The building consists of accommodations,
conference rooms, mailboxes, garden, and car parks, where the indoor usable space
totals 3,940.8 square meters. The interior spaces are divided, as follows:
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Table 5.2
Building Plan of Blue Water Vibe Hotel & Serviced Apartments

Level Description
Parking space for guests and can accommodate 24 cars, excluding
1st Floor double parking, mailboxes, and elevators, accounting for
approximately 612.2 square meters of usable area.
3 conference rooms, foyer, and shared bathrooms. The area
2nd Floor
occupies approximately 612.2 square meters.
3rd – 5th Hotel room area, with 11 rooms per floor, totaling 543.3 square
Floors meters per floor.
6th – 7th Serviced apartment rooms, with 11 rooms per floor, totaling 543.3
Floors square meters per floor.
The 3rd – 7th floors are floors that are designated for the hotel
and serviced apartments. Each floor has 11 rooms and is divided into 7 Superior rooms,
2 Family Suites, and 2 Family River Suites, as illustrated in Figure 5.3 below. The letter
‘A’ indicates the location of the Superior room, while ‘C’ and ‘D’ indicate Family Suite
rooms, and ‘B’ indicates Family River Suite rooms, respectively.
Chanthaburi River
Figure 5.3 3rd– 7th Room Floor Plan
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5.3.1.2 Rooms
From surveys of consumer behavior, it was found that most
of the hotel and long-term guests either prefer to stay alone or as a family. Based on
this information, Blue Water Vibe Hotel & Serviced Apartments, therefore, determined
that there should be 3 main room types, which are Superior, Two-Bedroom Family
Suite, and Two-Bedroom Family River Suite. All rooms are suites, i.e. rooms with a living
room area, to accommodate long-term stays and distinguish itself from its competitors,
as suites currently comprise only 1.3% of the total rooms in Chanthaburi. Moreover,
as most of its guests either travel to Chanthaburi for leisure or business purposes, the
property, therefore, chooses to use two 3.5 ft. twin beds for its rooms. It is also
designed so that the beds can be joined together to form a 7 ft. bed so that every
room can be converted into a Twin or Double room upon request. The details of the
different types of rooms at Blue Water Vibe Hotel & Serviced Apartments can be
Table 5.3
Blue Water Vibe Hotel & Serviced Apartments’ Room Type

Room Type Size (sq.m.) Max. Occupancy No. of Rooms
Hotel
Superior 36 2 21
Family Suite 60 4 6
Total – Hotel 90 33
Serviced Apartment
Superior 36 2 14
Family Suite 60 4 4
Total – Serviced Apartment 60 22
Total – Hotel & Serviced Apartment 150 55
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From Table 5.3, all hotel rooms and serviced apartments have
the same size, layout, and furnishings, to give the property the flexibility to adjust the
service model in the event that a particular business becomes unsuccessful or does
not meet the expected goals. And since the visitors consist of both short-term and
long-term stays of more than 1 month, the interior design also takes into account
guests’ comfort and room quality, beginning from the design of functions that meet
the needs of users. Each area is clearly defined by separating the living room area from
the bedroom. Large windows are provided in both the living room area and the
bedroom to allow for light and good ventilation. The walls of the room are made of
soundproof material so that guests can rest with no disturbing noise from neighboring
rooms. The decor focuses on modernity, warmth, yet elegant, with bright and warm
colors to ensure relaxation among its residents. The rooms are also fully furnished and
equipped with a complete set of in-room amenities where short or long-term guests
can readily move in.
(1) Superior Room
There are a total of 35 units, where 21 units are dedicated to
the hotel segment while the remaining 14 units accommodate the serviced apartment
segment. The rooms are 36 square meters in size and can accommodate up to 2
persons. The interior is divided into 1 bedroom, 1 bathroom, and a living area that
consists of a kitchen, two-seat dining set, living room set, and a balcony that opens
out and overlooks the river.
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Figure 5.4 Superior Room Floor Plan
Figure 5.5 An Illustration of the Superior Room Interior
(2) Family Suite Room

Consists a total of 10 units, where 6 units are dedicated to the
hotel segment while the remaining 4 units accommodate the serviced apartment
people. The interior is divided into 2 bedrooms, 2 bathrooms, and a living area that
consists of a kitchen, 4-seat dining set, living room, and balcony that can be opened
to city view.
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Figure 5.6 Family Suite Room Floor Plan
Figure 5.7 An Illustration of the Family Suite Interior
(3) Family River Suite Room

Consists a total of 10 units, where 6 units are dedicated to the
hotel segment while the remaining 4 units accommodate the serviced apartment
people. The interior is divided into 2 bedrooms, 2 bathrooms, and a living area that
consists of a kitchen, 4-seat dining set, living room, and balcony. The main difference
between this type of room and the Family Suite is that this room type has a view of
the Chanthaburi River from the living area, bedroom, and balcony that juts out towards
the river, making this type of room slightly pricier than the Family Suite despite its
smaller size.
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Figure 5.8 Family River Suite Room Floor Plan
Figure 5.9 An Illustration of the Family River Suite Interior
5.3.1.2 Room Amenities

As all rooms are equipped with a complete set of amenities
to accommodate both short and long-term stays, this feature has made Blue Water
Vibe Hotel & Serviced Apartments unique from any other typical hotel room. Table
5.4 below lists Blue Water Vibe Hotel & Serviced Apartments’ in-room amenities as
compared to Water Vibe Hotel’s in-room amenities.
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Table 5.4
List of Blue Water Vibe Hotel & Serviced Apartments’ In-Room Amenities
Family River Suite

Jacuzzi Suite
Family Suite
Superior
Premier
Deluxe
Double bed      
Twin Bed   - -  
Number of extra beds allowed - 1 1 1 - -
Smart TV with cable channels      
Bluetooth Speaker      
Tea/ Coffee making facilities      
Minibar      
Separate living area  - - -  
Working desk      
In-room Wi-Fi and LAN internet connection      
Safety deposit box      
Kitchenette with kitchenware and appliances  -  -  
Electric stove and vent hood  - - -  
Washing machine and dryer  - - -  
Iron and ironing board  - - -  
Bathroom amenities      
Jacuzzi tub - - -  - -
Electronic keycard system      
5.3.1.3 Common Area

As the Blue Water Vibe Hotel & Serviced Apartments project
is an extension of the Water Vibe Hotel business with contiguous areas, therefore, in
order to make the best use of the available resources and maximize benefits, Blue
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Water Vibe Hotel & Serviced Apartments shares its common areas and facilities with
Water Vibe Hotel, with the following details;
Table 5.5
Blue Water Vibe Hotel & Serviced Apartments’ Shared and Separated Facilities
Location
Facility Shared Separated
RNKC RHSA
Lobby  
Restaurant  
Wine Bar  
2 Conference Rooms 3 Conference Rooms
Conference Room  (Max. Occupancy 140) (Max. Occupancy 450)
Fitness Center  
Swimming Pool  
12 Cars 41 Cars
Car Park  
Additional Parking: 60 Cars
Riverside Pier  
Mailboxes  
(1) Lobby
Located on the 1st floor of Water Vibe Hotel, with a front
entrance adjacent to the parking lot in front of the building with a roof protruding from
the building as a pick-up point. The interior is decorated with wood and open and airy
to facilitate air circulation and provide guests with a scenery of the river. There is a
reception counter for inquiries and check-in/check-out, while the surrounding area has
a sofa set and tables and chairs for customers to sit and relax, and the availability of
welcome drink. In addition, at the center of the Lobby is a unique wooden staircase
and a popular photo corner leading to the G floor of the hotel.
Figure 5.10 Lobby
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(2) Restaurant
Walking down from the Lobby will take the guest to the
restaurant which is situated on the G floor of Water Vibe Hotel and is located to the
south of the hotel, adjacent to the Blue Water Vibe Hotel & Serviced Apartments and
the Chanthaburi River. The dining area is divided into the indoor area that can
accommodate a maximum of 100 seats and the outdoor section that supports a
maximum of 60 seats.
Figure 5.11 Restaurant

(3) Wine Bar
Located on the 1st floor next to the Lobby of Water Vibe
Hotel. The room can accommodate up to 20 seats, which is divided into 4 counter
seats and 16 seats at the tables.
Figure 5.12 Wine Bar
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(4) Conference/Seminar Room

Conference and seminar rooms are divided into 2 parts: the
original conference room of the Water Vibe Hotel and the newly built conference room
of Blue Water Vibe Hotel & Serviced Apartments. The original conference room is
located on the G floor of the Water Vibe Hotel's building and consists of Klangchan 1
and 2 conference rooms. They both have a combined maximum capacity to
accommodate 140 people. The newly built conference room is located on the 2nd
floor of the Blue Water Vibe Hotel & Serviced Apartments’ building, and consists of
the Rimnaam 1, 2, and 3 conference rooms, with a combined maximum capacity to
accommodate approximately 450 people.
Figure 5.13 Floor Plan of the Rimnaam 1, 2, 3 Conference Rooms
(5) Fitness Center and Swimming Pool

The fitness center and swimming pool are located in the
building area of the Water Vibe Hotel, which is on the east side of the building adjacent
to the garden and the Chanthaburi River. The swimming pool is a saltwater system,
with the adult pool measuring 4 x 19.6 x 1.3 meters while the children's pool measures
1.6 x 7.3 x 0.6 meters. They are both located outside the building on the 1st floor near
the lobby. The fitness center is located on the G floor under the swimming pool area.
Guests can use both facilities between the hours of 6 am. to 9 pm.
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Figure 5.14 Swimming Pool and Fitness
(6) Car park

The parking space area can accommodate up to 41 cars, which
is divided into 24 parking spaces under the building (1st floor) and 17 cars around the
building. Blue Water Vibe Hotel & Serviced Apartments also has additional parking
provided for its guests in the courtyard opposite the Water Vibe Hotel building, about
100 meters away. It has the capacity to accommodate a maximum of 60 cars and
buses. Blue Water Vibe Hotel & Serviced Apartments' parking spaces, both around the
building and in the parking lot, are equipped with lighting and 24-hours CCTV
surveillance to ensure the safety of the guests’ properties. There is also a golf cart to
provide pick-up and drop-off services from the parking area to the hotel area.
Figure 5.15 Map Showing the Parking Location of Blue Water Vibe Hotel & Serviced
Apartments
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(7) Garden
The garden area is located on the east side of the property
next to the Chanthaburi River. The length of the garden is parallel to the river starting
from the edge of the Blue Water Vibe Hotel & Serviced Apartments project to the end
of the Water Vibe Hotel. It is approximately 15 meters wide measuring from the river
to the building. The garden is decorated in a tropical style, giving it a shady and natural
look. It is an area where guests can sit, take photos, conduct activities or host small
parties.
(8) Riverside Pier
The pier is located at the northern end of the Water Vibe Hotel
area. It consists of a wooden pier for guests to use for leisure activities such as boating,
Loi Krathong activities, etc.
Figure 5.16 Riverside Pier
(9) Mailboxes
Since Blue Water Vibe Hotel & Serviced Apartments offers
serviced apartments for long-term stays, the project has also provided mailboxes for
long-term residents. It is located on the 1st floor of the building near the elevator area.
Opening the mailboxes requires a key which is handed over to the guest upon check-
in.
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Figure 5.17 Design of the mailboxes
5.3.1.4 Service
In addition to providing accommodations that are considered
the main services of Blue Water Vibe Hotel & Serviced Apartments, the property also
offers other services to ensure the convenience of guests, as follows:
(1) Food and Beverages
Blue Water Vibe Hotel & Serviced Apartments serves food and
beverages all day, based on the following different forms and service periods.
Table 5.6
Food and Beverage Services at Blue Water Vibe Hotel & Serviced Apartments
Service Types of Menus Service Hours
Buffet
Breakfast 06.30 – 10.00
(International)
Rimnaam Restaurant A la Carte 11.00 – 24.00
(Lunch & Dinner) (Local Thai & International) (Last order 23.00)
A la Carte 18.00 – 24.00
Wine Bar
(European, Wine, Cocktails) (Last order 23.00)
A la Carte 11.00 – 24.00
Room Service
(Local Thai & International) (Last order 23.00)
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(2) Conference Services

Blue Water Vibe Hotel & Serviced Apartments offers 5
conference and banquet rooms, with Klangchan 1 and 2 located at Water Vibe Hotel,
and Rimnaam 1, 2, and 3 located at Blue Water Vibe Hotel & Serviced Apartments. The
rooms are equipped with a modern lighting and sound system and can accommodate
a varying number of people depending on the type of meeting and event as follows:
Table 5.7
Capacity of Conference Rooms Classified by Type of Event

Area
Function room
(WxLxH):m Theatre Classroom Banquet Trade Boardroom
5.8 x 12 x 2.9
KLANGCHAN 1/2 70 40 40 - 40
(69.6 sq.m.)
5.8 x 24 x 2.9
KLANGCHAN 1+2 140 90 80 6 70
(139.2 sq.m.)
10.3 x 11.6 x
RIMNAAM 1/2 140 72 80 6 40
(119.5 sq.m.)
10.3 x 13.9 x
RIMNAAM 3 140 72 80 6 40
(143.2 sq.m.)
10.3 x 37.1 x
RIMNAAM 1+2+3 450 225 300 25 130
(382.1 sq.m.)
(3) Massage and Spa Services

From the results of market surveys, it was found that 69.37%
and 44.55% of consumers who choose to stay at hotels and long-term
accommodations, preferred on-site massages and spa services. The services that Blue
Water Vibe Hotel & Serviced Apartments offers in this aspect consist of Thai massage,
foot massage, aromatherapy, and herbal compress massages. Rates vary depending on
the type and duration of service. Service personnel are outsourced and have been
trained and tested by the property, and will use the customer's room to provide their
service in order to reduce the cost of providing additional location and staff. Blue
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Water Vibe Hotel & Serviced Apartments generates revenue from the difference
between the massage therapist’s wages and service rates charged to customers.
(4) Other Services
In addition to food and beverage, conference rooms, massages
and spa services mentioned above, Blue Water Vibe Hotel & Serviced Apartments also
offers other activities and services for its customers with additional charge, such as
laundry, shuttle services, excursions, orchard tours, Chanthaburi river cruise activities,
sub-boarding activities, etc. Some activities or services are a collaboration between
Blue Water Vibe Hotel & Serviced Apartments and community entrepreneurs, to build
business alliances and help develop the local economy.
5.3.2 Price
According to market surveys, both qualitative and quantitative, most
hotel and long-term guests emphasize the value and benefit of the products and
services that they expect to receive, rather than considering only the cheaper room
prices when comparing them to competitors. Blue Water Vibe Hotel & Serviced
Apartments, therefore, applies a high-value strategy to demonstrate to this group of
consumers that the project offers high-quality products and services at a reasonable
price from the consumers’ point of view in order to make them aware of the value of
their stay and be more satisfied with the service provided than other competitors. Blue
Water Vibe Hotel & Serviced Apartments also employs different pricing strategies to
set the selling price of the hotel and serviced apartments, as follows:
5.3.2.1 Hotel Daily Room Rates
Hotel daily room pricing adopts the dynamic pricing strategy
which is based on demand and supply and the number of rooms available on any
particular day. The factors of the tourist season will also be taken into account, that
is, room rates will be reduced during the low season or days with low occupancy rates
and raised during the high season or on days where rooms are close to being fully
booked. With this Dynamic Pricing approach, Blue Water Vibe Hotel & Serviced
Apartments can maximize its occupancy and profitability during low and high demand
periods.
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However, flexible pricing or dynamic pricing requires the

setting of an initial pricing in order to keep the price from dropping below an
acceptable price point. Blue Water Vibe Hotel & Serviced Apartments references the
pricing of its competitors with similar services and customers, including the rates of
Water Vibe Hotel, and set the starting price of different room types to be at a moderate
level when compared to its competitors, as follows:
Table 5.8
Starting Rates for Blue Water Vibe Hotel & Serviced Apartments and Water Vibe Hotel.
Peak
Low Season High Season
Season
(01 Dec - 31 May) (01 Jun - 30 Nov)
(28 Dec - 03 Jan/
Room Type Weekday Weekend Weekday Weekend 10 - 16 Apr)
Superior 1,850 2,000 2,000 2,200 3,000

Deluxe 2,000 2,200 2,200 2,400 3,200
Premier 2,500 2,700 2,700 2,900 3,700
Jacuzzi Suite 3,000 3,200 3,200 3,400 4,200
Family Suite 4,800 5,000 5,000 5,200 6,000
Family River Suite 5,200 5,400 5,400 5,600 6,400
From market survey results, the majority of hotel guests
require that breakfast be included in the top 5 in-room services. Therefore, the room
rates from Table 5.8 above are all-inclusive of meals for 2 persons and for 4 persons
for the Family Suite and Family River Suite categories.
However, in addition to its dynamic pricing strategy, Blue
Water Vibe Hotel & Serviced Apartments also offers contract rates or special room
rates offered to travel agents, government agencies, or private companies that have
contracts with the hotel. This rate is fixed to facilitate sales and marketing. For more
details on Blue Water Vibe Hotel & Serviced Apartments rate structure, refer to
Appendix O.
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5.3.2.2 Serviced Apartment Monthly Room Rates

In the setting of the serviced apartment monthly rates, the
property applies a fixed-priced strategy or flat rate to facilitate sales and marketing.
Blue Water Vibe Hotel & Serviced Apartments has studied present competitors in
similar target markets and compared them with the products and services that
customers will receive to determine the monthly room rate, the details of which are,
as follows:
Table 5.9
Monthly Room Rates of the Serviced Apartments

Room Type Monthly Rate
Superior 18,000
Family Suite 30,000
Family River Suite 33,000
Additional Services
Monthly ABF 4,800/person
Monthly Laundry
- 90 pieces 1,500
- 120 pieces 2,000
- Additional piece 30
The above monthly room rates are inclusive of utilities.
internet fee, cleaning, room amenities, maintenance, and other amenities within the
project. But there are also other additional services that incur additional charges such
as monthly breakfast or laundry fees, in which customers can choose from. The
conditions to make a booking requires the customer to make a 1-month security
deposit and 1-month advance payment prior to check-in. The minimum contract
period for the serviced apartment is 1 month.
However, based on the hotel room rates and serviced
apartments mentioned above, Blue Water Vibe Hotel & Serviced Apartments plans to
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increase its room rates by an average of 3% per year to reflect market prices and
inflation.
5.3.3 Place
The market research results pointed out that, hotel consumers are
currently focused on diversified booking channels at the highest level (Mean: 4.60),
while long-term residents are also focused on diversified booking channels at the high
level (Mean: 4.19). Based on the results of this research, Blue Water Vibe Hotel &
Serviced Apartments has planned a variety of booking channels, both online and
offline, to facilitate and meet the consumers’ needs by providing access to goods and
services, as follows:
(1) Online Travel Agents (OTAs): Results from the market research
revealed that, presently, consumers prefer to find information and make hotel
reservations through OTAs, such as Booking.com, Agoda, Traveloka, Airbnb, and
Expedia, which account for 40.54 percent of the total access. This is due to the fact
that OTA platforms are considered convenient and user-friendly, contain
comprehensive photos and information, reviews from actual guests, as well as, the
ability to compare prices with similar accommodations. Additionally, the booking
process is quick and easy and payment can be made to the hotel immediately.
However, in order to distribute through OTA channels, Blue Water Vibe Hotel &
Serviced Apartments is required to pay a commission at a specified rate, averaging
about 15-21%.
(2) Websites: In addition to providing room reservation services
through OTAs, Blue Water Vibe Hotel & Serviced Apartments also focuses on building
its own online distribution channel by developing www.watervibehotel.com. This is the
official website of Water Vibe Hotel, and Blue Water Vibe Hotel & Serviced Apartments.
Customers can browse the Blue Water Vibe Hotel & Serviced Apartments page to view
all of the accommodation information, photos of the available rooms, facilities and
services, including various promotions. The website interface is designed to be easy on
the eyes, and at the same time, user-friendly. The reservation system is done in real-
time, and has the ability to display various information about the various room types,
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sizes, daily/monthly rates, and room amenities. Customers can choose to book and
pay for their room instantly via credit or debit card which will be charged 3 days prior
to the stay.
(3) Direct reservation through the hotel channels: Customers can
make a reservation directly with the hotel through the reception counter, salesperson,
telephone, email, and social media such as Facebook, Instagram, and Line Official.
Reservations through these channels will be attended by knowledgeable staff who
have extensive knowledge about the room details, services, and special offers, and
can respond to inquiries and make reservations 24 hours a day.
(4) Travel Agents: Although this may not be the main channel that
Blue Water Vibe Hotel & Serviced Apartments' target customer chooses to make their
reservations, travel agents are still an alternate distribution channel that allows the
hotel to reach both Thai and foreign customers, as well as, expatriates, who are looking
to find accommodation for tourism and events (MICEs). The majority of travel agents'
customer base includes groups of government agencies or corporate employees who
are focused on tourism and activities, and foreign tourists who are travelling in groups
as well as as FITs. These customers often contact their travel agents through both
domestic and international office branches. In its effort to distribute through travel
agents, Blue Water Vibe Hotel & Serviced Apartments issues a contractual rate to its
partner companies on an annual basis.
(5) E-Commerce platforms: The current pandemic has resulted in
consumers avoiding crowded places like attending events to buy vouchers and turning
to online services that are much more convenient to purchase without the need to
travel. For this reason, Blue Water Vibe Hotel & Serviced Apartments realizes the
importance of expanding online distribution channels and has joined up with various
e-commerce platforms, such as Shopee, Line Shopping, or Megatix, to distribute hotel
room vouchers where customers can order on a 24-hour basis. But unlike normal
bookings, customers do not need to specify the date of stay or the date of service on
the day of purchase, but are advised to use the voucher within the specified period.
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The sales of these vouchers on these platforms are mostly conducted within a limited
sales promotional period, such as 11.11 Flash Sales, Black Friday Sales, etc.
5.3.4 Promotion
As the Blue Water Vibe Hotel & Serviced Apartments is a newly
opened extension of the Water Vibe Hotel expansion plan, it is also the first serviced
apartment service in Chanthaburi province as well. Therefore, creating awareness is
very important for the property, and also considered one of Blue Water Vibe Hotel &
Serviced Apartments' short-term goals which aim to create brand awareness among its
customers and promote interest in using the service in the long term. In addition to
increasing sales, the promotion of Blue Water Vibe Hotel & Serviced Apartments will
also focus on building good customer relationships in order to create brand loyalty
and lead to repeat use and word of mouth for old customers. Blue Water Vibe Hotel
& Serviced Apartments intends to adopt integrated marketing communication (IMC)
strategies as a guideline, as follows:
Table 5.10
Relationship Between Marketing Objectives and Promotional Activities

Awareness Boost Sales Relationships
Advertising
• Website X X
• Online Agencies X X
• Social Media X X X
• Google Ads X
• Magazine X
• Television X
Personal Selling X X X
Direct Marketing X X
Influencer Marketing X X
Public Relations X X
Sales Promotion
• Seasonal Promotions X
• Flash Sales X
• Partner Rewards X
• Long Stay Promotions X
Referral Program X X X
Customer loyalty program X X
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5.3.4.1 Advertising
(1) Website: In order to be a resource for interested customers
and a channel for advertising and public relation activities and provide necessary
information to customers, as well as, an alternate channel to reserve a room, the
business will make improvements to the website, www.watervibehotel.com by adding
information regarding Blue Water Vibe Hotel & Serviced Apartments which previously
only contained information of the Water Vibe Hotel. The website will contain details
of rooms, their sizes, photos, prices, facilities, services, promotions, and channels in
which customers can contact Blue Water Vibe Hotel & Serviced Apartments.
Period: Since the start of its operations.
Budget: 3,000 baht for adding additional pages to the website
(2) Online travel agencies and online estate agencies: Market
research has revealed that online travel agencies (e.g. Booking.com, Agoda, Traveloka,
Airbnb) and online estate agencies (e.g. Ddproperty, RentHub) are the main channels
frequented by most consumers to find news and information about hotels and long-
term residences, or accounting for 67.57% and 50.99% of the respondents,
respectively. This is because customers are able to find complete information, as well
as photos of the accommodation, their locations, services, prices, and reviews from
customers. The advantage of this communication channel is that it is able to reach
potential customers quickly, broadly, and economically. Blue Water Vibe Hotel &
Serviced Apartments will advertise on these websites which can be done by offering
increased commissions to the website in exchange for a top-ranking listing based on
the customer searches.
Implementation period: During the first 6 months of
operations.
Budget: Online travel agencies: 3% of the total bookings from
the sites, Online estate agencies: 1,500 baht / website / month
(3) Social Media: Blue Water Vibe Hotel & Serviced Apartments
will create an official account on various social media platforms as a means of
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conducting public relations and marketing activities. The various strategies will be
consistent with each particular platform, such as posting messages, images, and videos,
including paying for advertising in order to reach the target audience and create wider
awareness. Blue Water Vibe Hotel & Serviced Apartments will conduct marketing and
advertising activities by focusing mainly on 2 platforms:
• Facebook: Blue Water Vibe Hotel & Serviced Apartments
will use customized content which includes photos, articles, and video clips to
illustrate the property’s overall ambience and what experience the customers can
expect. Additionally, there will also be posting activities or various marketing
promotions to pitch for customers’ interest and encourage their visits. The frequency
is expected to be about 3-5 times a week and every post will be provided with a
contact channel for interested parties to contact for more information or make
immediate room bookings. In the first phase of the opening, Blue Water Vibe Hotel &
Serviced Apartments will utilize these posts to create wider awareness and attract
target customers to like and follow the page, which is one of the short-term goals set
by the property. In the long run, Blue Water Vibe Hotel & Serviced Apartments will use
content marketing to encourage the property’s Facebook followers to consider the
accommodations for future purchase goals. Facebook will also be used as a tool to
build engagement and foster good relationships with its customers through fun
activities, clicking on Like & Share, posting a photo, or adding hashtags, to win a free
room voucher, etc.
Duration: Throughout the business’ operations.
Budget: 24,000 baht per year, during the first 2 years of
operations.
• Instagram: As a platform that focuses on photos,
promoting through this channel will require Blue Water Vibe Hotel & Serviced
Apartments to focus on posting various photos of the property, activities, and various
marketing promotional activities, as well as posting short video clips and relating stories
through Reels and IG Stories. In the first phase of the service, Blue Water Vibe Hotel &
Serviced Apartments will use the advertising of these posts to create wider awareness
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and attract target customers to follow, according to the short-term goals. Over the
long term, Blue Water Vibe Hotel & Serviced Apartments aims to increase customer
engagement and drive user-generated content by reposting images or short clips
submitted by customers or of activities conducted by the property;
#watervibechanthaburi, and distribute room vouchers as a reward, etc.
Duration: Throughout the business’ operations.
Budget: 18,000 baht per year, during the first 2 years of
operations.
(4) Google Ads: Search engines is another vital channel that
consumers use to find information about hotels and long-term residences. For this
reason, Blue Water Vibe Hotel & Serviced Apartments plans to use Google Ads so that
its targeted audience can find Blue Water Vibe Hotel & Serviced Apartments first in
their searches and create interest leading towards a decision to make bookings. It will
make use of the searches through keywords such as “hotel + Chanthaburi”,
“accommodation + Chanthaburi”, “travel + Chanthaburi”, “accommodations in the
city + Chanthaburi”, etc. Advertising costs will be charged in the form of pay-per-click
(PPC)
Implementation period: During the first year of operations.
Budget: 500 baht per month
(5) Advertising through magazines: Blue Water Vibe Hotel &
Serviced Apartments intends to choose travel and lifestyle magazines for its ads as
most of its readers are considered as the property’s target audience. The format of the
ads will be based on advertorials, i.e. relating the history of the property, room design
inspiration, as well as, providing descriptions of the various facilities available on the
property. Examples of travel-related magazines include Leisure+Travel and anywhere,
etc.
Implementation period: The first 6 months of the operations.

Budget: Magazine advertising will be bartered in exchange for
the room vouchers, where the number of vouchers will be determined by the
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magazine’s reputation, number of membership subscriptions, and the number of pages

for the advertisement.
(6) Television advertisements: Blue Water Vibe Hotel &
Serviced Apartments will also consider promotions through TV travel and lifestyle
programs that will update viewers on trending tourist attractions, reviews of
recommended restaurants, as well as, providing tours of recommended
accommodations. The ads will feature a walking tour and introduce the property, its
history, room design inspiration, and room types, available facilities, including reviews
on selected food items.
Implementation period: Throughout the business operations.
Budget: Television advertisements will be bartered in
exchange for accommodation and meals for the host and staff. The consideration will
be based on the program’s reputation, content, and the length of the broadcast and
compared with the number of rooms and meals of the barter requested.
5.3.4.2 Personal Selling
Blue Water Vibe Hotel & Serviced Apartments dedicated a lot
of emphasis on sales through its sales staff as they are considered direct
representatives of the organization, or executives who communicate, offer services,
bargain exchanges, as well as, foster good relationships with its customers. Additionally,
they are also capable of bringing the customers’ issues and feedback to the
organization to find solutions to improve its products and services. The primary duty
of Blue Water Vibe Hotel & Serviced Apartments sales staff is to connect with potential
hotel and serviced apartment customers, i.e. private companies, and government
agencies, as well as, contacting customers with group bookings or contacting them to
organize meetings or banquets at the hotel. In addition, sales staff will be responsible
for dealing with tour operators and travel agencies in order to explore new
opportunities to increase sales. These communications may be conducted through
personal visits, by phone, or via email.
In addition to the sales staff stationed at the office, Blue Water
Vibe Hotel & Serviced Apartments also provides opportunities for freelance
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salespersons who may have a network of customers who would like to make room or
conference room reservations, and forward their recommendations to the hotel
accordingly. For bookings through this channel, Blue Water Vibe Hotel & Serviced
Apartments will pay a commission of 5% of the total revenue to freelance
salespersons.
Implementation period: Throughout the business operations.
Budget: 5% of total income, for freelance salespersons.
5.3.4.3. Direct Marketing
Blue Water Vibe Hotel & Serviced Apartments will conduct its
direct marketing activities from its existing Water Vibe Hotel and Blue Water Vibe Hotel
& Serviced Apartments customer base, by communicating via email or broadcasting via
its Line Official account, to offer discounts or special promotions for its previous
customers. The first phase will focus on creating awareness for Blue Water Vibe Hotel
& Serviced Apartments and offering special discounts to attract customers to use the
service.
Duration: During the first 3 months of its operations and during
the low season (June-November)
Budget: None
5.3.4.4 Influencer Marketing
Influencer Marketing is another strategy that Blue Water Vibe
Hotel & Serviced Apartments has chosen to create awareness and increase sales. This
is because the advice of an influencer or blogger can cast a big influence on the
purchasing decision of hotel and long-term accommodation consumers, based on 4.33
and 4.12 research averages respectively. It also includes influencing consumers’
curiosity and wanting to try, leading to consideration and decision making. Blue Water
Vibe Hotel & Serviced Apartments will use micro-influencers in the travel business who
command at least 100,000 followers as these types of influencers incur less cost but
at the same time, ensure a wide viewership. In addition, it will also take into account
the target audience of each particular influencer as an important criterion for selection.
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Examples of micro-influencers selected by Blue Water Vibe Hotel & Serviced

Apartments are Salaryhumantravel, Forever on vacation, etc.
Duration: The initial period of the operation and during the
low season (June-November)
Budget: 10,000 baht per time
5.3.4.5 Public Relations
The publicity of the property is also another marketing
strategy that Blue Water Vibe Hotel & Serviced Apartments utilizes to build its image,
reputation, customer interest, and confidence in the business, by focusing on
publishing and providing information to target customers to become aware of the story
and various activities that the business has carried out through various media such as
local newspapers, magazines, radio, and television, as well as, the Chanthaburi TAT
office. The first phase will focus on building public relations in which the objective is
to create awareness through the news coverage release of Blue Water Vibe Hotel &
Serviced Apartments, its history, general information, room information, and in-house
amenities, and creating customers’ demand to encourage more use of the property’s
services, such as introducing of a new product or service, a list of other activities, or
marketing promotions such as organizing a food festival, Loy Krathong, etc.
Period: The first phase of its operations and during the low
season (June-November).
Budget: 10,000 baht during the opening of the operations, and
3,000 baht per year.
5.3.4.6 Sales Promotions
Blue Water Vibe Hotel & Serviced Apartments will be
promoted in various other ways at the appropriate time to stimulate higher sales,
especially during the low season, which is detailed as follows:
(1) Seasonal Promotions: Blue Water Vibe Hotel & Serviced
Apartments will provide discount promotions and room packages regularly on a
monthly basis to create interest and stimulate customers to wanting to use the service.
These will be both in the form of room discounts during weekdays (Sundays-Thursdays)
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and during low seasons (June-November) where there is reduced customer demand,
as well as, discounts in the form of a comprehensive room package in collaboration
with the food and beverage department or laundry services, to create value and to
stimulate more revenue.
(2) Flash Sales: Blue Water Vibe Hotel & Serviced
Apartments will be promoted in conjunction with various e-commerce platforms such
as Shopee, Line Shopping, or Megatix, to distribute hotel room vouchers at special
prices only during the specified promotional period, such as 11.11 Flash Sales, Black
Friday, etc.
(3) Partner Privileges: Blue Water Vibe Hotel & Serviced
Apartments will establish cooperation with partner companies, such as credit cards,
department stores, gas stations, and various mobile phone companies, in order to offer
a special discounts from its current BAR rates to its members. Blue Water Vibe Hotel &
Serviced Apartments will also establish business alliances with relevant local
businesses such as hospitals, tourist attractions, or fruit orchards, to create special
discounts or room packages.
Duration: Throughout the business operations.
(4) Long Stay Promotion
Blue Water Vibe Hotel & Serviced Apartments will run long
stay promotions as well as extended stay packages to attract the target audience and
increase the revenue of the serviced apartment segment. The promotion will be
offered either in terms of discounts on the monthly service fee or as a room package
with the food and beverage department or the housekeeping department, such as a
room package that includes breakfast or a room package that includes laundry service,
etc. Additionally, Blue Water Vibe Hotel & Serviced Apartments may offer discounts or
special privileges to customers staying for more than one year to encourage them not
to stay elsewhere.
Duration: During the low season (June-November)
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5.3.4.7 Referral Program

To encourage service apartment customers to recommend or
refer new customers, Blue Water Vibe Hotel & Serviced Apartments will offer a referral
program, which will provide benefits to both old customers who have introduced the
service to new customers and new customers who have utilized the service as a result
of such recommendations. Both parties will receive benefits only if the new customer
has booked a room in accordance with Blue Water Vibe Hotel & Serviced Apartments's
terms and conditions.
Budget: None
5.3.4.8 Customer Loyalty Program
As marketing activities to attract new customers cost more
than activities to retain existing customers, Blue Water Vibe Hotel & Serviced
Apartments places great importance on maintaining and developing good customer
relationships to create customer loyalty. The property has a loyalty program that offers
loyal customers discounts and privileges, such as free food or beverages and free room
upgrades, in order to reward customers and make them feel more privileged than
other general customers, which will result in customer retention and prompt repeat
visits.
Budget: 0.05% of the total room revenue.
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Table 5.11
Marketing Promotions Action Plan During the First 2 Years of Operations

Year 1 Year 2
10
11
12
10
11
12
1
2
3
4
5
6
7
8
9
1
2
3
4
5
6
7
8
9
Advertising
Website
Online Agencies
Social Media
Google Ads
Magazine
Television
Personal Selling
Direct Marketing
Influencer
Marketing
Public Relations
Sales Promotion
Seasonal
Promotions
Flash Sales
Partner Rewards
Long Stay
Promotions
Referral Program
Loyalty Program
Five year estimated marketing expenses of Blue Water Vibe

Hotel & Serviced Apartments can be seen in Appendix P.
5.3.5 People
As the nature of the hospitality industry is a customer-focused
business, service staff are essential to the success of the business. Blue Water Vibe
Hotel & Serviced Apartments will therefore select employees who are service-minded,
good-natured, and able to help or educate customers about the various facilities of
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the property and the origin of the community as a whole, in addition to, possessing
multi-lingual communication skills.
Additionally, Blue Water Vibe Hotel & Serviced Apartments will set
itself apart from its competitors by emphasizing a warm and personalized guest
experience. The emphasis will be on employees being attentive and paying attention
to details and customer needs, such as remembering guests' names and greeting
returning guests with "Welcome Back" rather than a simple greeting, preparing small
gifts for returning customers or customers who come to celebrate special occasions
with handwritten cards, observing behavior or inquiring about guest personal
preferences or problems, and sharing such information with all departments.
Additionally, it is stored in the PMS system for the subsequent service, such as a
preferred room number or food allergy. These will make guests feel special and even
significant in a small way. It's also beneficial for relationship development and
customer loyalty in long-term business.
5.3.6 Process
Process strategy is essential to keep the business running smoothly
and Blue Water Vibe Hotel & Serviced Apartments has outlined the following processes
accordingly:
5.3.6.1 Advance Booking Process
To ensure speed and convenience for customers, Blue Water
Vibe Hotel & Serviced Apartments has developed a hotel reservation system that
allows customers to check the number of rooms currently available, fill in the
reservation information, and make instantaneous payment via the website and OTAs
without the need to contact any staff. Customers have the option to pay through
several ways, such as credit or debit cards, internet banking, or through payment
counters. Customers will be able to make reservations by up to 2 years in advance
and have the option to cancel their bookings free of charge at least 3 days prior to the
arrival date. Beyond that period, Blue Water Vibe Hotel & Serviced Apartments reserves
the right to charge a 1-night fee of the room rate which the customer has reserved.
This allows us to plan the service and be aware of the total number of customer needs
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to a certain extent. However, in the event of the current highly volatile COVID-19
situation, Blue Water Vibe Hotel & Serviced Apartments may consider waiving the
cancellation fee and allowing to keep the credit for the next stay, or receive a full
refund depending on the case.
5.3.6.2 Guest Pre-Arrival Process
To ensure a fast and smooth check-in, prior to the guests'
arrival, Blue Water Vibe Hotel & Serviced Apartments will send a message to confirm
their reservation and to inform them of travel information, check-in times, and
available amenities. The message will also allow guests to ask questions, make special
requests, or notify the accommodation of special occassions in advance, allowing the
accommodation to plan and arrange services ahead of time. Customers can also
choose to pre-check-in by providing personal information and sending a copy of their
ID card or passport to the property, reducing the process and time spent in check-in
queues upon arrival. Since each customer may find it more convenient to
communicate via a different channel, such confirmation information will be sent to
customers via various channels for which they have registered, such as e-mail and
social media.
5.3.6.3 Staff Service Process
Blue Water Vibe Hotel & Serviced Apartments provides all of
its staff with a personalized approach guideline in which to provide to its customers,
for example, during the check-in process, the reception staff must complete a
customer check-in within 8 minutes, which includes making room and amenities
recommendations, as well as, informing of common practices to the customers. In
addition, staff are required to learn and remember the names of regular customers in
order to foster a good relationship, from the system that Blue Water Vibe Hotel &
Serviced Apartments has recorded. Also, all employees have their own work schedule
and standard operating procedures in terms of welcoming guests, preparation of food
and beverages according to the recipes provided by the Company, and procedures for
cleaning rooms and common areas which vary according to their respective positions.
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5.3.6.4 System for Service Assessment and Listening to Opinions

Blue Water Vibe Hotel & Serviced Apartments offers channels
to gather feedback either through the customer satisfaction survey provided in the
rooms, or alternatively, comments can be made directly through the front desk, OTAs,
the property’s website, and social media. Customer reviews are also regularly
monitored on the website and various social media platforms in order to analyze such
information and make improvements and develop the service process to better meet
the market needs.
5.3.6.5 Customer Data Protection
Operating a hotel or serviced apartment business requires the
collection of personal information from customers, including their names, surnames,
gender, age, nationality, date of birth, status, address, occupation, place of work,
telephone number, ID card number, passport number, credit card number, used cars,
reservation history, travel history, as well as images or video captured by CCTV cameras
while customers are on-site. Blue Water Vibe Hotel & Serviced Apartments recognizes
and values the importance of protecting and respecting customers' privacy rights, and
follows a strict policy of adhering to the Personal Data Protection Act, B.E. 2562. That
is, the company may use some data anonymously in order to calculate the occupancy
rate or perform various statistical analyses, and such personal information will be
disclosed without prior notice to the data owner only when required by laws, such as
requesting guest information be stored for registration purposes pursuant to the Hotel
Act, B.E. 2547, or to mitigate the risk to the data owner's life. Blue Water Vibe Hotel &
Serviced Apartments will always obtain the customer's written consent prior to
processing customer information for the purpose of creating sales promotions or
sending business newsletters. Whereas the customer has the right to withdraw consent
at any time.
5.3.6.6 Measures to Prevent and Contain the Spread of the
COVID-19 Virus
Currently, Blue Water Vibe Hotel & Serviced Apartments is
fully aware for the safety of its customers and all of its staff and has established
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measures to prevent and contain the spread of the COVID-19 virus as recommended
by the Ministry of Public Health to build confidence for its customers. Examples of the
measures include the setting up of body temperature screening points for all
customers and staff, cleaning common touchpoints and toilets with disinfectant every
2 hours, establishing distancing between seats and aisles, having a hand sanitizer
station to serve customers at various key points, including measures requiring all guests
to wear gloves when using the buffet line, etc. Blue Water Vibe Hotel & Serviced
Apartments has also applied for a SHA+ (Safety and Health Administration) certification
from the Tourism Authority of Thailand as an additional measure to build confidence
for its guests.
5.3.7 Physical Evidence
As Blue Water Vibe Hotel & Serviced Apartments targets middle- to
high-income earners, the property's image is essential in building trust among
customers prior to their visits. Blue Water Vibe Hotel & Serviced Apartments has
established the following physical evidence strategies to build customers’ confidence:
5.3.7.1 Design Format
Blue Water Vibe Hotel & Serviced Apartments is designed in a
modern contemporary style that combines classic and contemporary designs,
emphasizing tranquility, privacy, and harmony with the beautiful nature along the
Chanthaburi River. The exterior and interior architecture of the property is designed to
be consistent with the original architectural style of the Water Vibe Hotel in order to
not make the guests feel any difference while at the same time give off a more modern
appearance to cater to a younger audience. Additionally, the property has also
integrated a blend of the local Chanthaburi identity, such as the presence of
Chantaboon mats, fruits, and gems, into the design elements as well.
5.3.7.2 Arrangement of the Surrounding Area
From the market survey of the hotel and long-term
consumers, it was found that the beautiful scenery surrounding the accommodation
had a significant effect on the decision to stay, with averages of 4.59 and 4.25
respectively. Blue Water Vibe Hotel & Serviced Apartments has an advantage stemming
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from its location along the Chanthaburi River which allows customers to experience
the beautiful view of the river both from the common area and from their room
balcony. In addition, the property has also left a space of 15 meters from the riverbank
as required by law and will be making further improvements by designing a beautiful
tropical garden for customers to sit and relax or take pictures.
5.3.7.3 Security System
The property’s safety standard is another aspect that Blue
Water Vibe Hotel & Serviced Apartments attaches great importance to. Because in
addition to being something that helps build credibility and reputation for the business
itself, it is also a significant factor that will help prevent damage to the life and property
of customers, as well as, the hotel itself, that may occur from various factors. Blue
Water Vibe Hotel & Serviced Apartments has put in place various safety measures in
accordance with the Hotel Act, B.E. 2004, such as the installation of fire alarms and
hand-held fire extinguishers, fire escape stairs, evacuation route signs, emergency
backup power systems, and lightning protection systems, etc. Blue Water Vibe Hotel &
Serviced Apartments has also added various measures to raise the security standards
of the accommodation by providing 24-hour security guards and CCTV, a keycard
system for elevators and rooms, in-room safes, fences and adequate lighting around
the hotel premises, etc.
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CHAPTER 6
OPERATIONS STRATEGY
Operational strategies will enable Blue Water Vibe Hotel & Serviced
Apartments to operate efficiently to satisfy its customers. In order to enable the
property to meet its objectives, Blue Water Vibe Hotel & Serviced Apartments has
developed an operational strategic plan, as follows:
6.1 Pre-Establishment Plan
6.1.1 Legal Permissibility Study

The location of the Blue Water Vibe Hotel & Serviced Apartments
project, when considering the City Planning Act B.E. 2518, and the Ministerial
Regulations enforcing the Chanthaburi City Planning B.E. 2562, is designated to be
situated in the orange zone, i.e. a middle density residential area, in which this type of
land can be divided into 5 levels, namely, Yor. 5-Yor. 7 land type, which can be used
for commercial purposes and all forms of residing, or in other words, such areas can
be developed into hotels and serviced apartments.
6.2 Construction Plan
6.2.1 Relevant laws

(1) Building Control Act, B.E. 2522
Section 21: No person shall construct, modify or relocate a building
without prior permission, or without first notifying the local official, and proceed under
section 39 bis.
Section 32: No person shall use a building in the controlled use

category without first obtaining a building construction certificate or Oor. 6 certificate.
The hotel is considered as one of the buildings in the controlled use category. When
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its construction is completed, the local official shall be notified to certify the
construction and issue the Or. 6 certificate before the building can be opened for
operations.
(2) Enhancement and Conservation of National Environmental
Quality Act, B.E. 2535
According to the law on hotels with 80 rooms or more, or a total
usable area of all such buildings from 4,000 square meters, it is necessary to prepare
an Environmental Impact Assessment report, or EIA, to submit to the Office of Natural
Resources & Environmental Policy. However, Blue Water Vibe Hotel & Serviced
Apartments does not meet these conditions and is therefore exempted from having
to prepare an environmental impact assessment report.
(3) Hotel Act, B.E. 2547
When the construction of the hotel is completed, the project owner
must apply for a hotel business so as not to contravene the Hotel Act, B.E. 2547, and
to assure customers that they are qualified in the hotel business and that the property
is up to standard, by submitting a Ror Ror. 1 license application at the district office.
5.2.2 Construction process
(1) Apply for permission to determine the boundaries and build a
7-storey residential building, by submitting the relevant documents to the Land Office
of Chanthaburi Province, to enable officials to conduct land surveys. The waiting period
for conducting the survey is approximately 30-60 days.
(2) Request permission to construct a building; by submitting the
construction drawings, schematics, and supporting documents, along with the land title
deed, and submit to the Technical Division of the Chanthaburi Municipality to request
for a Oor. 1 Certificate that grants permission to construct a building. The process takes
about 30 days to complete.
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(3) Requesting permission to connect to utilities by submitting

documents at the Provincial Electricity and Waterworks Authority, Chanthaburi
Province, to use electricity and install temporary meters for the construction
operations. The process requires 1 day to complete.
5.2.3 Construction operations
The Company will undertake the construction of the project by
contracting with the building construction company in the form of a lump sum
contract, with the terms of the contract being agreed upon as a contract price that is
inclusive of the cost of materials, equipment, labor, operating costs, as well as profit.
This will allow the Company to effectively control the construction budget and help
reduce the risk of fluctuating construction costs. The Blue Water Vibe Hotel & Serviced
Apartments project has a construction period of approximately 17 months.
5.2.4 Applying for a hotel business license
Upon completion of the hotel’s construction, the project must apply
for a hotel business license in order not to contravene the Hotel Act B.E. 2547. The
procedures and process for applying for a license can be summarized, as follows:
(1) Own or possess the right of land: must have an ownership or
possessory right to use the land with documents, such as land title deeds, NorSor. 1
land utilization certificate, SorKhor. 1 land ownership notification form, and a consent
letter for construction/land use, etc.
(2) Examine the city planning and laws related to the prohibition of
hotel construction in the area where the business will be operated.
(3) Verify whether the environmental law requires an EIA report.
(4) Consider the location according to the Hotel Act.
(5) Contacting the local official to issue the Oor.1 certificate building
permission.
(6) Contacting the local official to conduct an inspection of the
building when the construction is completed to issue the Oor. 6 certificate.
(7) Use the Oor. 6 certificate to apply for a hotel business license.
Consideration period: 66 days
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6.3 Operation Plan
Blue Water Vibe Hotel & Serviced Apartments realizes the importance of
customer service and has therefore established a service plan for every step along with
various components that are to be used to provide systematic services in order to
leave a lasting impression to its customers and to make employees become aware of
the clear work processes and enable to work efficiently.
6.3.1. Room Reservation and Payment
Based on the booking behavior of the target customers, the property
has developed a variety of booking channels to satisfy the highest satisfaction level
and convenience of the customers. Customers can currently make reservations
through a variety of channels, either online via the OTA websites, the Blue Water Vibe
Hotel & Serviced Apartments’ website, email, Line Official account, Facebook
Messenger, or offline via a salesperson, walk-in, or by phone.
(1) Reservations made through OTAs, such as Agoda, Booking.com,
Traveloka, Airbnb, and Expedia, enable customers to choose their desired dates to
which the system will then show the type of room available, the number of rooms
available, and the accompanying rates. Payment methods can be either through book
first pay later or the option to make payments immediately. Customers have the
option to pay by either credit or debit cards, internet banking, and through payment
counters. At the end of the booking process, OTAs will automatically send a
confirmation email to the customer and the property to proceed with its reservation
process in the PMS system. In the case of bookings made through OTAs, room
cancellations are subjected to the service provider's policy.
(2) Reservations made through the Blue Water Vibe Hotel &
Serviced Apartments website is similar to bookings made through OTAs, in that the
customer must select the date they wish to stay and the system will display the room
type, the availability, number of rooms, and rate. Customers can choose to pay via
credit or debit cards whereby the system will send a confirmation email to the
customer and the property after the payment process has been completed. In the
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case of booking via the website, the customer can cancel the reservation 3 days before
their stay.
(3) Reservations made via direct channels of the property, such as
emails, Line Official account, Facebook Messenger, salesperson, walk-in, or telephone,
will enable the customer to specify the desired date of the room to check for the
availability. Customers can then specify the name of the guest, type and number of
rooms required, including packages or promotions that they desire to utilize, whereby
the guest service agent will then make a reservation in the system. Subsequently, the
guest service agent will then notify the cost together with the account number for
transferring the 50% room deposit to the customer. Upon receipt of the proof of
deposit payment, the guest service agent will send the booking confirmation back to
the customer's contact channel. In the case of booking directly through the property’s
channel, guests also have the option to cancel the reservation 3 days prior to their
stay and can keep the deposit as a credit for their next stay.
6.3.2 Welcome and registration
(1) Guest arrival: Upon the customer’s arrival at the Water Vibe
Hotel for check-in, they will be greeted by a security officer and bellboy in front of the
hotel to welcome and assist with their luggage. The customers are required to go
through a compulsory COVID-19 screening point prior to their check-in. The standard
check-in time for Blue Water Vibe Hotel & Serviced Apartments is 2 pm.
(2) Receiving the guests: When the customer approaches the
reception counter, the guest service agent will extend a warm welcome and make
inquiries regarding their booking information and request for identification cards or
passports for the registration process. Simultaneously, the guests will also be provided
with a welcome drink to help make them feel relaxed and relieve them from their
travel fatigue.
(3) Registration: The guest service agent will check the booking
information from the PMS system and confirm the accuracy of the information with
the customer before printing the guest registration card for the customer to fill out
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their contact information and sign before checking in the customer into the PMS
system.
(4) Secure payment: In cases where the customer has not made
any payment or has just made a partial deposit, the guest service agent will request
the customer to make the payment via the various payment methods that are being
offered by the hotel, such as cash, credit card, bank transfer, or QR code, before
attaching the proof of payment together with the registration card.
(5) Allocation of the room: The guest service agent will then
allocate a vacant and clean room (VC) to the guest, and change the status in the
system to Occupied room (OC) before generating the room key card and breakfast
coupon which is then given to the guest.
(6) Provide hotel information: The guest service agent will then
explain the standard check-out time, rules and regulations of stay, the location and
time of the breakfast, as well as, other services and facilities within the hotel, and
inquire the customer about any other special requests, such as an early morning wake-
up call or food intolerance, before closing the check-in process with directions to the
room, channels to contact in case of problems, and finally wishing the guests a happy
stay.
(7) Open guest folio: The guest service agent then opens a guest
folio and updates the guest’s stay and payment information into the PMS system, as
well as informs other departments about the customer's special request (if any).
6.3.3 Housekeeping Service
(1) In the part of the hotel, in the event that the guest stays for
more than 1 night, the housekeeping attendant will clean the room, change bedsheets,
towels, refill the minibar and toiletries, and dispose garbage, on a daily basis between
8:00 am. - 5:00 pm. Guests can also inform the front desk staff of their preferences or
hang a cleaning sign in front of the room.
In the serviced apartment, the housekeeping attendant will clean the
room, replenish the minibar and toiletries, dispose garbage every 3 days, and change
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the bedsheets and towels every 6 days, at a pre-scheduled date and time interval
agreed with the guest.
(2) If the guest needs additional items and appliances in the room,
or needs to request information, report problems or complaints, they can contact the
staff via the room’s internal phone 24 hours a day.
6.3.4 Food and Beverage Service
6.3.4.1. Breakfast Service
Blue Water Vibe Hotel & Serviced Apartments' breakfast
service is served as a buffet style. The breakfast service is available for guests at the
Rimnaam Restaurant which located on the ground floor of Water Vibe Hotel between
the hours of 06.30-10:00 am. The available types of breakfast include ABF, as well as,
Thai and local dishes. The breakfast menu is rotated on a daily basis to satisfy the
diverse needs of its guests. Guests are required to present their breakfast coupon which
was given to them at check-in to the staff prior to having their morning meal. Outside
guests who wish to use the breakfast service can also do so at an additional charge of
300 baht net for adults, and 150 baht net for children between the age of 4-12 years
old. The service is free of charge for children under 4 years old.
6.3.4.2 Lunch and Dinner Service
Blue Water Vibe Hotel & Serviced Apartments customers can enjoy lunch
and dinner at Rimnaam Restaurant located on the ground floor of Water Vibe Hotel
from between the hours of 11 am. - midnight (last order 11 pm). The type of food at
Rimnaam Restaurant includes both Thai food, local and European delicacies, including
a wide variety of desserts and drinks.
In addition to Rimnaam Restaurant, Blue Water Vibe Hotel & Serviced
Apartments customers can also enjoy a wine bar at The Winery located on the 1st floor
of Water Vibe Hotel building from 6-8 pm. (last order 11 pm.). The type of food served
at this outlet mainly focuses on European menu items that can be consumed together
with wine. There is also the availability of a cocktail menu as well.
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6.1.4.3 Room Service

Blue Water Vibe Hotel & Serviced Apartments offers room service from
6.30 am. until midnight (last order 11 pm.) to facilitate customers who may be busy
from work or just needs to relax in their rooms to enjoy a variety of food menus that
can be readily served to their rooms. Customers can view food items from the room
service menu provided in each room and make orders with the food and beverage
staff through the room’s internal phone. They can choose to pay directly to the staff
when the food is served or post it to their room charges which is to be paid on the
day of check-out.
6.1.4.4 Conference Room Service
Customers interested in organizing weddings, meetings, seminars, or
corporate gatherings, can contact the property directly to make an appointment to
survey the actual location or request a quote from the Sales Executive of the sales
department, where the sales department will temporarily lock the meeting room and
hotel accommodations schedules (if any) until the payment cut-off date as specified
in the quotation. If the customer agrees to organize the event, they are required to
pay a deposit of 50% of the total cost, as well as, provide a proof of the deposit
payment to confirm the event and enable the sales department to confirm the
reservation of the meeting/banquet room and hotel accommodations (if any)
according to the date and amount that has been quoted. Upon receiving all the related
details of the event from the customer, the department will then issue a Group Action
Plan document to clarify the duties and responsibilities in organizing the event to all
concerned departments.
6.3.5 Room Returns and Receiving Payments from the Customers
(1) Receive check-out request: The standard check-out time of the
Blue Water Vibe Hotel & Serviced Apartments is 12 noon. When the customer requests
a check-out at the front desk, the guest service agent will request for the room number
and the return of the keycard before notifying the housekeeper to inspect the room
for any possible damages. Other departments are also requested to inform of any
posted outstanding balance (if any) of the room to the front desk.
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(2) Settle guest account: The guest service agent will then print the
various billing items and have it verified by the customer and request for the payment
before issuing a tax invoice to the customer, if requested.
(3) Inquire about feedback: The guest service agent will inquire
about the customer’s satisfaction with their stay, make on channels for receiving news
and future bookings before saying thank you and wishing customers a safe trip. A
bellboy or security officer will then assist the customer with their luggage to the car
park.
(4) Update front office records: Finally, the guest service agent
updates the status of the rooms in the system as vacant and dirty (VD) and updates
the customer history which will then be used as a database for future contacts and
building relationships with the customers. It is also to be used for the planning of
further marketing promotions.
6.3.6 Receiving complaints
(1) Customers can express their opinions, offer suggestions, and file
complaints through various channels, which include Facebook, Instagram, Line Official
account, telephone, customer satisfaction feedback form in the room, reception
counter, and the OTA’s website.
(2) Staff will record the complaints along with the related details,
such as the date of the incident and the customer’s name (if any), and submit it to
the General Manager for further consideration.
(3) The General Manager will then contact the customer to inquire
about the incident and resolve the issue, as well as, offer apologies for any
inconveniences caused.
(4) The General Manager analyzes the problem and finds the exact
cause. If it was caused by an employee, a staff meeting will be called and explain it
to the employees for acknowledgment to prevent similar problems from occurring in
the future.
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(5) Once the reported issue has been resolved, the General
Manager may report the result to the notifier and once again thank the customer for
taking the time to provide the feedback.
6.4 Equipment, Raw Materials, and Beverages Procurement Process
Blue Water Vibe Hotel & Serviced Apartments attaches great importance
to the quality of products and services so that it may be appropriate to be provided
to the customers. The process of purchasing equipment and the management of
consumer goods and consumption within the property are, as follows:
6.4.1 Consumable Raw Materials, Consumables, and Packaging
6.4.1.1 Procurement of Fresh Food Ingredients
In the case of fresh food items such as meat, processed meats,
vegetables, fruits, the purchasing department will request quotations from the various
merchants and make price comparisons, as well as, the terms of delivery and payment.
The purchasing department will make purchases from the company/store with the
lowest price at the same quality level, or it may change vendor according to the
appropriate price level. For each daily purchase, the kitchen department must prepare
a daily Market Order approved and signed by the department head and submit it to
the Purchasing Department before 11 am. each day. The procurement staff will then
send the list of fresh produce to each company to prepare and transport it to the
hotel. Upon arrival, the kitchen department will have to verify the order whether it is
correct according to the purchase order and check whether the delivered goods are
spoiled or damaged or not. If damaged goods are found, it will be returned to the
vendor for a replacement before signing off on the delivery note. The kitchen
department must forecast the required quantity in advance as each item may have a
different delivery period.
In terms of other types of fresh produce such as seafood or
ingredients that are purchased in small quantities each, the procurement staff will
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make purchases from the local fresh market or from the local wholesale hypermarket,
Makro. The procurement staff will have a petty cash line of approximately 20,000 baht.
6.4.1.2 Purchasing Dried Food, Bottled Drinks, Consumables and

Packaging
For dried food, bottled drinks, frequently used consumables,
and packaging, the procurement staff will make purchases from the local wholesale
stores and stored it in the storeroom. The procurement staff will be responsible for
overseeing the withdrawal-receival, inventory checking, and purchasing of the items
when the amount remaining in the store is lower than the required minimum.
Departments can make withdrawals of the raw materials or supplies in the store by
writing down the required items on the requisition form and sending it to the
procurement staff every Thursday, to which they will receive the items the next day.
At the end of each month, the accounting department will conduct an inventory count
of the remaining items in the store to verify if the balance is consistent with the
beginning balance of the period plus the purchased amount and deducted with the
withdrawal amount or not.
6.4.2 Purchasing non-inventory items
In case the required item is not listed in the store, the requesting
department must initiate a purchase requisition stating the required specification and
amount needed and submit for approval by the respective department head. The
requisition is then sent to the procurement department to make sure that the
requesting item is not available in the store before presenting it to General Manager
for purchase approval. Once approved, the procurement staff will subsequently send
the details of the requested item to the vendor to request for a quotation. The
quotation request must be sent to at least 3 different vendors for a price comparison,
and the vendor with the lowest price will be awarded with a purchase order. Once the
item is delivered to the hotel, the procurement staff and representatives from the
requesting department must verify that the quantity, price, and quality of the product
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are correct as specified in the purchase order and requisition before signing off on the
delivery note.
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CHAPTER 7
HUMAN RESOURCES STRATEGY
Human resources are considered a key factor in driving service-oriented

businesses such as hotels and serviced apartments. Quality staff has the ability to
affect customer satisfaction and generate repeated use of the service and word of
mouth. Therefore, it is necessary to have an efficient strategy in place for human
resource management to prepare qualified personnel for the job and time, as well as,
to develop efficient manpower to achieve maximum benefits.
7.1 Human Resources Management Objectives
1. To determine the organizational structure strategy, employees’

responsibilities, and manpower planning, to efficiently suit the size and objectives of
the Blue Water Vibe Hotel & Serviced Apartments.
2. To recruit employees with the appropriate personality, knowledge, and
abilities, to match the job position requirements.
3. To design an effective employee training program to be in line with the
competitive strategy in order to achieve the objectives of the Blue Water Vibe Hotel &
4. To establish remuneration and welfare guidelines to be appropriate to
the ability and performance, resulting in motivation for the employees.
7.2 Organizational Structure
The original organizational structure of the Water Vibe Hotel was a flat
organizational structure to facilitate and expedite coordination within each line of work,
as well as, to ensure clear and accurate communication. This is based on the rationale
that everyone in the organization has the appropriate level of decision-making
authority, including possessing full and equal freedom of expression. As the Blue Water
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Vibe Hotel & Serviced Apartments business expands, the organization has still retained
its original organizational structure but has made a few additions to the number of
positions and manpower. The property still continues to classify its employees into 8
departments according to their job duties with a department head to provide advice
and facilitate the team, as shown in the organization structure diagram in Appendix Q.
7.3 Manpower Planning
To plan the manpower of Blue Water Vibe Hotel & Serviced Apartments,
the researcher analyzed the number of the manpower requirement according to the
size of the organization and projected occupancy rates for each period to avoid the
problem of unnecessarily high costs or the amount of work exceeding the number of
employees. The suitable manpower rate for each department of Blue Water Vibe Hotel
& Serviced Apartments can be summarized in the table below.
Table 7.1
Manpower Planning of Water Vibe Hotel and Blue Water Vibe Hotel & Serviced
Apartments
RNKC&
Department No. Position RNKC RHSA
RHSA
Administration 1 General Manager 1 1 -
Manning par : 1 1 -
Sales Dept 1 Sales Executive 1 1 -
2 Sales Coordinator 0 1 +1
Manning par : 1 2 +1
Front Office 1 Front Office Manager 0 1 +1
2 Front Office Supervisor 1 1 -
3 Guest Service Agent 3 3 -
4 Concierge/Bell Boy 0 1 +1
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Table 7.1
Manpower Planning of Water Vibe Hotel and Blue Water Vibe Hotel & Serviced
Apartments (Cont.)
RNKC&
Department No. Position RNKC RHSA
RHSA
Housekeeping 1 Ass. Housekeeping Manager 0 1 +1
2 Laundry Attendant 1 2 +1
3 Housekeeping Supervisor 1 1 -
4 Housekeeping Attendant 3 7 +4
5 Public Area Attendant 2 4 +2
6 Gardener 2 3 +1
Engineering 1 Engineering Supervisor 1 1 -
2 Technician 0 2 +2
Food & Beverage 1 Ass. Food & Beverage Manager 0 1 +1
2 Food & Beverage Supervisor 1 2 +1
3 Bartender 1 1 -
4 F&B Server 3 8 +5
Kitchen 1 Sous Chef 1 1 -
2 Chef De Parties 1 2 +1
3 Commis 1 2 +1
4 Steward 1 2 +1
Accounting 1 Chief Accountant 1 1 -
2 Purchasing&Store Officer 1 1 -
3 Income Auditor 1 1 -
4 Accounts Payable 0 1 +1
Human Resources 1 Human Resources Supervisor 1 1 -
2 Chief Security 0 1 +1
3 Security Guard 3 6 +3
Total Staff No : 32 61 +29
Staff to Room Ratio : 0.80 0.64 0.53
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From the above table, it can be seen that the property has a need to
increase manpower to accommodate the number of rooms and the increased service
resulting from the Blue Water Vibe Hotel & Serviced Apartments extension from the
Water Vibe Hotel, from the current 32 people to 61 people, representing an increase
of 90.63%. It can be seen that the staff-to-room ratio has decreased from 0.80 to 0.64
due to the property benefiting from economies of scale and operating serviced
apartments that require less staff-to-room ratio than the hotel business. Moreover, in
order to avoid the issue of unnecessarily high fixed costs stemming from employees'
salaries, the property also has a policy to hire employees on a daily basis to help
support services during periods of high demand or banquets, etc.
7.4 Work schedule management
According to the manpower planning, Water Vibe Hotel and Blue Water
Vibe Hotel & Serviced Apartments have a total of 59 full-time employees. All
employees except the General Manager and the back-office staff all have a six-day
working week and whose holidays do not fall on Fridays, Saturdays, Sundays, and
public holidays, due to the high demand of the users during these periods. And since
Blue Water Vibe Hotel & Serviced Apartments is open 24 hours a day, employees have
to take turns working in shifts, which can be divided, as follows
(1) The working hours of the General Manager and back-office staff is
8 am. – 5 pm. (6 days off/month).
(2) The receptionist's work hours are divided into 4 time periods: early
morning shift from 7 am. to 4 pm., late morning shift from 10 am. to 7 pm., afternoon
shift from 1–10 pm., and night shift from 10 pm. – 7 am. (1 day off/week).
(3) The working hours of the cleaning staff is divided into 3 time periods:
Housekeeping attendant and laundry attendant: 8 am. – 5 pm. (1 day off/
week).
Public Attendant: morning shift from 6 am. – 3 pm., and afternoon shift
from 3 pm. - midnight (1 day off/week).
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(4) Engineer's working hours is divided into 2 periods: morning shift from 6
am. – 3 pm., and afternoon shift from 3 pm. – midnight (1 day off/week).
(5) Food & Beverage working hours is divided into 2 periods: morning shift
from 6 am. – 3 pm., and afternoon shift from 3 pm. – midnight (1 day off/week).
(6) Kitchen staff working hours is divided into 2 periods: morning shift from
5 am. – 2 pm., and afternoon shift from 2-11 pm. (1 day off/week).
(7) The security guard's working hours is divided into 4 periods: early
morning shift from 7 am. - 4 pm., late morning from 10 am. to 7 pm., afternoon shift
from 1-10 pm., and night shift from 10 pm. – 7 am. (1 day off/week).
From the above mentioned, during the period between midnight to 7 am.,
only the reception staff and security personnel are available due to the low number
of visitors during this period. Night shift workers also need to have basic knowledge of
other departments such as housekeeping, food and beverage departments, and
maintenance, so that they may be able to perform duties in the event of late-night
check-ins or early check-outs at dawn, or in other emergency situations.
7.5 Staff Recruitment and Selection Process
7.5.1 Staff Recruitment

For the recruitment of capable staff with the required educational
qualifications, knowledge, and work experience, Blue Water Vibe Hotel & Serviced
Apartments has established two approaches; namely internal and external
recruitment. The organization provides the opportunity for its employees to request
for internal transfers or promotions as its first priority. This is in order to create
incentives for self-improvement for each employee prior to recruiting outsiders through
a variety of channels which include announcements via job sites, social media,
employment agencies, as well as, posting announcements at various university and
vocational training schools, in order to enable students who study in hotel
management courses to work for the Company. The recruitment process will take into
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consideration the total cost of recruiting, the period for each position, the applicant’s
experience, and knowledge of the business.
7.5.2 Staff selection process
Once the roles and responsibilities of employees at each level have
been clearly defined, the Company will conduct the selection process at least one
month prior to opening, to allow time for training and job preparation. The Company
has established the following procedures for selecting employees for each position, as
follows:
(1) Preliminary review – The Human Resource Supervisor reviews
the application and preliminary work history of each applicant to verify the eligibility
of each person, with regards to personal history, education, work experience, talents,
and other highlights.
(2) Interview - Once the Human Resource Supervisor has made an
initial selection of candidates with sufficient knowledge and competence to meet the
pre-requisite criteria, he/she will then conduct an interview to screen the individuals
who meet the required qualifications of the Company. If the applicant passes the
criteria, it will then be forwarded to the respective department head for the second
round of interviews, where it will take into account both the candidate's specialization,
determination, and interest.
Interview Panel
Supervisory/Non-Sup 1st interview - Human Resource Supervisor
2nd interview - Department Head
(GSA must be interview by General Manager)
Executive Staff 1st interview – Human Resource Supervisor
2nd interview – General Manager
(3) Reference and background checks – This is the procedure for
verifying the applicants’ documents for authenticity and ensuring that no forged
documents were used.
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(4) Probation and confirmation – All applicants who are offered

employment will have to serve a 119 days probationary period. During the 30-day, 60-
day, 90-day, and 119-day probation periods, the department head will be responsible
for assessing the employee for competence and skills and whether it meets the job
requirements. If the employee meets the standard criteria at the conclusion of the
trial period, an employment contract with an initial one-year term will be signed and
will be extended by two-year increments upon expiration in order to reduce the risks
and costs of Blue Water Vibe Hotel & Serviced Apartments in the event that it becomes
necessary to lay off employees. However, upon completion of 5 years of continuous
service, Blue Water Vibe Hotel & Serviced Apartments will consider hiring these
contracted workers on a permanent basis to reward these workers for their loyalty to
the company.
7.6 Staff Training
In order to ensure that all employees can perform their work according to
the required standards and increase work efficiency, Blue Water Vibe Hotel & Serviced
Apartments regularly organizes training and skill development for its employees with
the following courses:
7.6.1 Staff Orientation
The new employee orientation will be conducted by the Human
Resources Supervisor with the aim of providing background information of Blue Water
Vibe Hotel & Serviced Apartments and Rimnaam Klangchen, the desired hotel’s image
that should be conveyed to the guests, work practices, rules, duties and
responsibilities, as well as benefits. In addition, new employees will also receive on-
the-job training from their respective department heads or more experienced
colleague in order to establish a full understanding of the duties and responsibilities
as quickly as possible. The content of the training differs according to the job
description and standard of procedure (SOP) of each position and will be concurrently
evaluated during the probationary work period.
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7.6.2 Skill Development Training

In addition to training new employees, Blue Water Vibe Hotel &
Serviced Apartments also provides training for potential development and enhance
the working skills and management of employees to become more advanced and
efficient. This is expected to benefit the overall development of the organization.
Training for capacity building is held quarterly and will take into account the needs of
each department as to where the training should be supplemented, in which each
course, the speaker can be either a person from within or outside the organization.
While the target group may be operational-level staff or departmental heads. After
completion of the training, there will also be an assessment test to evaluate the
employee’s understanding. Examples of training courses offered by Blue Water Vibe
Hotel & Serviced Apartments are Service Excellence, Performance Development,
Interview Technique, Train-the-Trainer, etc.
7.7 Performance Appraisal
Performance appraisal is a method to gauge the employees’ performance

in terms of their ability to work, strengths, weaknesses, and directions for improvement.
This will benefit the organization in human resource management both in terms of
considering their remunerations and promotion potential, as well as, organizing training
to remedy their weaknesses or enhance their potential. In its performance appraisal
process, Blue Water Vibe Hotel & Serviced Apartments will set KPIs for each
department’s employee. The employees will be made aware of and accept these
assessment criteria. Each employee must initially conduct a self-assessment prior to
being assessed by their supervisors. The evaluation results must be communicated
and accepted by both the supervisor and the employee and agreed upon as a
collaborative development goal. Blue Water Vibe Hotel & Serviced Apartments
conducts its staff appraisal every 6 months or twice a year, in June and December.
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7.8 Staff Remuneration and Benefits
7.8.1 Remuneration
Blue Water Vibe Hotel & Serviced Apartments provides an
employment contract with the related remuneration for each employee consistent
with the amount of work and skills required to perform their tasks by applying the
reference criteria based on the legal minimum wage rate stated under the labor
protection law (Chanthaburi Provincial Labor Office, 2022) and the remuneration rate
in the same industry, so as to ensure that the employee's compensation is not lower
than what it should be. Additionally, it is also used to motivate employees in their
work and reduce the turnover rate of qualified employees
In the case of hiring casual workers to help out in the housekeeping
department, food and beverage department, or during banquets, casual workers will
receive a daily wage of 323 baht according to the legal minimum wage rate.
Table 7.2
Compensation Rates for Blue Water Vibe Hotel & Serviced Apartments Employees
Department No Position Pax Amount Total Allowance SSF
Administration 1 General Manager- Increment 0 80,000 25,000 - -
Manning par : - 25,000 - -
Sales Dept 1 Sales Executive 0 21,000 - - -
2 Sales Coordinator 1 15,000 15,000 750
Manning par : 1 15,000 - 750
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Table 7.2
Compensation rates for Blue Water Vibe Hotel & Serviced Apartments employees (Cont.)
Front Office 1 Front Office Manager 1 26,000 26,000 750
2 Front Office Supervisor 0 18,000 - -
3 Guest Service Agent 0 13,000 - -
4 Concierge/Bell Boy 1 10,000 10,000 500
Manning par : 2 36,000 - 1,250
Housekeeping 1 Ass. Housekeeping Manager 1 18,000 18,000 750
2 Laundry Attendant 1 10,000 10,000 500
3 Housekeeping Supervisor 0 14,000 - -
4 Housekeeping Attendant 4 10,000 40,000 2,000
5 Public Area Attendant 2 10,000 20,000 1,000
6 Gardener 1 10,000 10,000 500
Manning par : 9 98,000 - 4,750
Engineering 1 Engineering Supervisor 0 18,000 - -
2 Technician 2 12,000 24,000 1,200
Manning par : 2 24,000 - 1,200
Food & 1 Ass. F&B Manager 1 22,000 22,000 750
Beverage 2 F&B Supervisor 1 15,000 15,000 750
3 Bartender 0 12,000 - -
4 F&B Server 5 10,000 50,000 2,500
Manning par : 7 87,000 - 4,000
Kitchen 1 Sous Chef 0 24,000 - -
2 Chef De Parties 1 18,000 18,000 750
3 Commis 1 11,000 11,000 550
4 Steward 1 10,000 10,000 500
Manning par : 3 39,000 - 1,800
Accounting 1 Chief Accountant 0 24,000 - -
2 Purchasing & Store Officer 0 14,000 - -
3 Income Auditor 0 15,000 - -
4 Accounts Payable 1 13,000 13,000 650
Manning par : 1 13,000 - 650
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Table 7.2
Compensation rates for Blue Water Vibe Hotel & Serviced Apartments employees
(Cont.)
Human 1 HR Supervisor 0 15,000 - -
Resources 2 Chief Security 1 13,500 13,500 675
3 Security Guard 3 10,000 30,000 1,500
Manning par : 4 43,500 - 2,175
Total Payroll Costs : 29 380,500 - 16,575
7.8.2 Social Security

Blue Water Vibe Hotel & Serviced Apartments also provides social
security for all employees as required by law to provide them with compensational
benefits in the event of accidents, sickness, disability, and death, which are not caused
by work-related activities, including in the case of childbirth, child allowance,
retirement, and unemployment. Social security payments will be deducted from the
employees' salaries at a rate of 5% but not more than 750 baht per month. As an
employer, Blue Water Vibe Hotel & Serviced Apartments also contributes toward the
social security fund at a rate of 5% of each employee’s salary, while the government
also contributes 2.75% of the employee’s salary.
7.8.3 Service Charge
A service charge is a 10 percent amount added to the guest’s bill
before it is presented to the guest. All service charge collected by Blue Water Vibe
Hotel & Serviced Apartments is to be distributed to all applicable staff on an equal
basis. The amount of service charge paid will not be fixed and will not be guaranteed
but will fluctuate each month depending on the amount of revenue generated in the
month. The payments of service charge will be made in the month following receipt
together with the following month’s salary.
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Although the service charge policy states that it is prorated and paid
in equal amounts to all employees in every position, to punish employees who violate
the company's rules, Blue Water Vibe Hotel & Serviced Apartments will deduct a
service fee in the following instances:
Late more than 5 times or more than 30 minutes will deduct 10%
Absent will be deduct 50%.
Obtain verbal warning will be deducted 20%
Obtain written warning will be deduct 50%
Obtain suspend warning will be deduct 70%
Obtain last warning will not be eligible for service charge 100%
Leaving the company without one month notice will not be eligible
for service charge 100%
7.8.4 Employee Welfare and enefits
In addition to wages and salaries, the organization’s welfare benefits
is also another important key factor in attracting and retaining employees to work with
the organization. An organization that has an attractive remuneration and welfare
management structure will be able to offer an attractive incentive for potential
employees, as it will be able to invoke a strong sense of security for their lives and
well-being. For this reason, Blue Water Vibe Hotel & Serviced Apartments attaches
great importance to the proper allocation of employee benefits which must also
comply with the requirements of the labor law and satisfy the employees’ needs, as
well as, be on par with other businesses within the same industry.
Appendix R summarizes the Blue Water Vibe Hotel & Serviced
Apartments employees’ welfare benefits
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CHAPTER 8
FINANCIAL STRATEGY
Blue Water Vibe Hotel & Serviced Apartments' financial strategy has been
developed with the objective of managing capital, income, expenditures, and setting
an appropriate capital structure, to be consistent with various strategic business plans,
as well as, the analysis of the break-even point and return on investment to gauge the
operational capability of the entity. This is to enable the business to develop the
necessary potential and be able to continue operating effectively, in addition to, being
able to generate profits in the long term.
8.1 Financial Objectives and Goals
8.1.1 Financial Objectives

(1) To assess the project’s feasibility through the use of financial
instruments to analyze returns.
(2) To plan the financial structure to be in accordance with the
operating strategy, allocate resources to be worthwhile, and attain maximum
efficiency.
(3) To achieve liquidity in its operations and manage financial
costs to be at an appropriate level.
(4) To find the appropriate payback period.
8.1.2 Financial Goals
(1) To achieve a positive return on the net present value (NPV).
(2) To achieve a higher internal rate of return (IRR) than the
weighted average cost of capital (WACC).
(3) To achieve a discounted payback period (DPB) of not more
than 10 years after the start of the business operations.
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8.2 Establishing Financial Assumptions
8.2.1 Capital Sources and Structure

The Blue Water Vibe Hotel & Serviced Apartments project was
implemented with an initial capital of 185,000,000 baht, where funding of the
investments originated from two sources; namely equity funds and long-term
borrowings from commercial banks. The long-term equity to creditor ratio is 60:40, or
equivalent to the owners' equity of 111,000,000 baht. The long-term borrowing of
74,000,000 baht was used for building construction costs, the purchase of various
equipment, revolving operating costs, and internal working capital.
8.2.2 Weighted Average Cost of Capital
8.2.2.1 Cost of Debt : Rd
Refers to the cost of capital arising from debt financing. In this
case, the financing is based on loans obtained from commercial banks. Data from
Bangkok Bank (2022) shows that the Minimum Loan Rate (MLR) as of April 2022 is
5.25%.
8.2.2.2 Cost of Equity: Re
The Company has calculated the cost of equity by using the
Capital Asset Pricing Model (CAPM) method, the details of which are, as follows:
Cost of Equity = Rf + (Rm - Rf) x ß
Where the Risk Free Rate (Rf) is based on the 10-year
government bond yields as of April 1, 2022, the yield of which is 2.41% (Thai Bond
Market Association, 2022).
The Market Return (Rm) is based on the return on investment
in the SET Total Return Index (TRI Index) for the past 10 years (as of October 20, 2021),
which is equal to 9.53% (Kasikorn Bank, 2021).
Beta (ß) is based on the average 2021 historical data from the
tourism and leisure companies in 14 stock exchanges, which is equal to 0.59 (The Stock
Exchange of Thailand, 2022).
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Therefore, when taking all the information obtained and

applying it to the CAPM equation, the cost of equity, or Re can be calculated as follows:
Cost of Equity = Rf + (Rm - Rf) x ß
= 2.41% + (9.53% - 2.41%) * 0.59
= 6.61%
8.2.2.3 Weighted Average Cost of Capital: WACC
Refers to the weighted average cost between the investment
and the cost involved. The formula for calculating WACC is, as follows:
Table 8.1
Structure and Cost of Capital of Blue Water Vibe Hotel & Serviced Apartments
Required Rate
Contribution Weight (%)
of Return
Equity (E) 111,000,000 60 6.61%
Debt (D) 74,000,000 40 5.25%
Total 185,000,000 100 5.65%
8.2.3 Income Projections

Blue Water Vibe Hotel & Serviced Apartments' main income is
derived from providing accommodation services, banquets and seminars, and food and
beverages, respectively. Data from the Ministry of Tourism and Sports (2021) has
revealed that the average number of guests in Chanthaburi province is at 60.23% with
an average growth rate of 9.29% between 2011-2019. When this data is combined with
Water Vibe Hotel's statistics, it reveals an average occupancy rate of 77.68% in 2019.
In order to forecast the occupancy rate of serviced apartments, the researchers also
surveyed occupancy rates of the direct competitors in serviced apartment industry.
And discovered that all four competitors have current occupancy rates exceeding 90%.
This has prompted Blue Water Vibe Hotel & Serviced Apartments to set a first-year
occupancy target of at least 65% and 70% for hotels and serviced apartments
respectively, and is expected to increase to 77% for hotels and 95% for serviced
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apartments within 5 years as a result of marketing incentive strategies and the

property’s ability to reach the target audience and the availability of a standard service
model. Therefore, the annual income is estimated to be, as follows:
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Table 8.2
Estimated Occupancy Rate and Room Revenue in Year 1
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total
Hotel
Weekday 70% 70% 70% 70% 70% 55% 50% 50% 50% 55% 55% 70%
Weekend 90% 90% 90% 90% 90% 75% 70% 70% 70% 75% 75% 90%
Peak Period 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
TTL RM NIGHTS 788 722 781 793 776 604 564 578 547 616 612 805 8,186
AVE OCC 77% 78% 76% 80% 76% 61% 55% 57% 55% 60% 62% 79% 68%
A.R.R. 2,991 2,955 2,955 3,062 2,954 2,848 2,848 2,847 2,848 2,846 2,847 3,039 2,931
TTL REVENUE 2,357,140 2,133,420 2,308,160 2,428,220 2,292,640 1,719,960 1,606,060 1,645,620 1,557,780 1,753,440 1,742,180 2,446,460 23,991,080
RevPar 1,946 1,948 1,903 2,077 1,890 1,459 1,319 1,351 1,322 1,440 1,478 2,023 1,679
Serviced Apartments
TTL RM NIGHTS 409 383 614 594 614 594 409 409 396 409 396 409 5,636
AVE OCC 60% 60% 90% 90% 90% 90% 60% 60% 60% 60% 60% 60% 70%
A.R.R 900 900 900 900 900 900 900 900 900 900 900 900 900
TTL REVENUE 368,100 344,700 552,600 534,600 552,600 534,600 368,100 368,100 356,400 368,100 356,400 368,100 5,072,400
AVE OCC 60% 60% 90% 90% 90% 90% 60% 60% 60% 60% 60% 60% 70%
RevPar 540 560 810 810 810 810 540 540 540 540 540 540 632
Hotel & Serviced Apartments
TTL RM NIGHTS 1,197 1,105 1,395 1,387 1,390 1,198 973 987 943 1,025 1,008 1,214 13,822
AVE OCC. 70% 72% 82% 84% 82% 73% 57% 58% 57% 60% 61% 71% 69%
A.R.R. 2,277 2,243 2,051 2,136 2,047 1,882 2,029 2,040 2,030 2,070 2,082 2,318 2,103
TTL REVENUE 2,725,240 2,478,120 2,860,760 2,962,820 2,845,240 2,254,560 1,974,160 2,013,720 1,914,180 2,121,540 2,098,580 2,814,560 29,063,480
RevPar 1,598 1,609 1,678 1,796 1,669 1,366 1,158 1,181 1,160 1,244 1,272 1,651 1,448
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Table 8.3
Projected Income from Room Occupancy and Other Revenues in Year 1

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total
TTL RM NIGHTS 1,197 1,105 1,395 1,387 1,390 1,198 973 987 943 1,025 1,008 1,214 13,822
AVE OCC. 70% 72% 82% 84% 82% 73% 57% 58% 57% 60% 61% 71% 69%
A.R.R. 2,277 2,243 2,051 2,136 2,047 1,882 2,029 2,040 2,030 2,070 2,082 2,318 2,103
ROOM REVENUE 2,725,240 2,478,120 2,860,760 2,962,820 2,845,240 2,254,560 1,974,160 2,013,720 1,914,180 2,121,540 2,098,580 2,814,560 29,063,480
OTHER REVENUE 1,167,960 1,062,051 1,226,040 1,269,780 1,219,389 966,240 846,069 863,023 820,363 909,231 899,391 1,206,240 12,455,777
TTL REVENUE 3,893,200 3,540,171 4,086,800 4,232,600 4,064,629 3,220,800 2,820,229 2,876,743 2,734,543 3,030,771 2,997,971 4,020,800 41,519,257
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Other income sources, such as meetings/banquets, food and beverages,

and laundry, will be mainly consistent with the income from the number of
occupancies. Blue Water Vibe Hotel & Serviced Apartments is referring its statistics from
Water Vibe Hotel for the year 2017-19 before the COVID-19 pandemic and has
determined the ratio of its main income to revenue from other sources to be at 70:30,
as detailed in Table 8.3.
From Table 8.3, in the first year, Blue Water Vibe Hotel & Serviced
Apartments will be able to generate revenue from providing accommodation services
at 29,063,480 baht, and 12,455,777 baht from other sources, yielding a total of
41,519,257 baht, with a total average occupancy rate of 69%. Out of this total, it is
expected that the occupancy rate for the hotel and serviced apartment will be at 68%
and 70% respectively.
Blue Water Vibe Hotel & Serviced Apartments aims to achieve an average
occupancy growth in the 2nd - 5th year of 70%, 72%, 75%, and 77% for hotels, and
80%, 85%, 90%, and 95% for serviced apartments, respectively. As a result, the total
revenue for a 5-year period can be estimated, as follows:
Table 8.4
Blue Water Vibe Hotel & Serviced Apartments’ 5-Year Income Projections
Year 1 Year 2 Year 2 Year 4 Year 5
Hotel
TTL RM NIGHTS 8,186 3% 8,444 3% 8,697 3% 8,997 3% 9,267
AVE OCC. 68% 3% 70% 3% 72% 3% 75% 3% 77%
A.R.R. 2,931 3% 3,019 3% 3,109 3% 3,204 3% 3,300
TTL REVENUE 23,991,080 25,489,830 27,042,160 28,824,795 30,580,225
RevPar 1,679 1,789 1,904 2,026 2,139
Serviced Apartments
TTL RM NIGHTS 5,636 14% 6,425 6% 6,811 6% 7,219 6% 7,652
AVE OCC. 70% 14% 80% 6% 85% 6% 90% 6% 95%
A.R.R. 900 3% 927 3% 955 3% 983 3% 1,013
TTL REVENUE 5,072,400 5,956,012 6,502,774 7,099,729 7,751,484
RevPar 632 742 810 884 965
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Table 8.4
Blue Water Vibe Hotel & Serviced Apartments’ 5-year income projections
(Cont.)
TTL RM NIGHTS 13,822 14,869 15,508 16,216 16,919
AVE OCC. 69% 74% 77% 81% 84%
A.R.R. 2,103 2,115 2,163 2,215 2,266
ROOM REVENUE 29,063,480 31,445,842 33,544,934 35,924,524 38,331,709
RevPar 1,448 1,566 1,671 1,790 1,909
OTHER REVENUE 12,455,777 13,476,789 14,376,400 15,396,225 16,427,875

TTL REVENUE 41,519,257 44,922,631 47,921,335 51,320,749 54,759,585
For a detailed revenue projection by market segment, see APPENDIX S.
8.2.4 Investment Projections

Investment funding for Blue Water Vibe Hotel & Serviced Apartments
is derived from two sources: equity and bank loans, at a proportion of 60:40. The funds
are to be used for the construction and decoration of the buildings and rooms, utilities,
furniture, appliances, and improvements to the property surroundings. The total
investment is estimated to be 180,781,140 baht.
Table 8.5
Blue Water Vibe Hotel & Serviced Apartments’ Initial Investment Projections
No. Description Qty Unit Price/Unit Total Cost
1 Land 414.7 sq. wah 36,171 15,000,000
2 Waterworks extension 1 Project 375,000 375,000
3 Electricity extension 1 Project 1,050,000 1,050,000
4 Drainage + roads + manhole 158 Meters 592,500 592,500
5 Fencing 1 Project 600,000 600,000
6 Architecture plans 1 Project 2,700,000 2,700,000
7 Interior architecture plans 1 Project 450,000 450,000
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Table 8.5
Blue Water Vibe Hotel & Serviced Apartments’ initial investment projections (Cont.)
No. Description Qty Unit Price/Unit Total Cost
8 Building permits and registration 1 Project 720,000 720,000
9 Piling 1 Project 3,531,000 3,531,000
Building construction cost 96,569,640 96,569,640
10 (structure, sanitary wares, 1 Project
system work)
11 CCTV system 1 Project 450,000 450,000
12 Digital TV system 1 Project 50,000 50,000
13 Internet network 1 Project 300,000 300,000
14 Key card system 1 Project 150,000 150,000
15 Air conditioning system 1 Project 3,000,000 3,000,000
16 Interior decoration 1 Project 27,750,000 27,750,000
17 Furniture 1 Project 18,000,000 18,000,000
18 Electrical appliances 1 Project 6,000,000 6,000,000
19 Landscaping 1 Project 2,700,000 2,700,000
20 Security booth 1 Project 180,000 180,000
21 Outdoor lighting 1 Project 195,000 195,000
22 Golf carts 2 Cars 209,000 418,000
Total Initial Investment 180,781,140
8.2.5 Cost Projections

As Blue Water Vibe Hotel & Serviced Apartments is in the business of
providing accommodation, food and beverages, conferences, and laundry services, it
is can then be estimated, therefore, that the cost of services can be classified into the
cost of providing room amenities (such as bathroom amenities, linen and towels, and
minibars) to be 10% of the room revenue. Food and beverages, as well as, laundry
costs, are estimated to be at 40% and 0.1% of the total other revenue sources,
respectively.
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8.2.6 Operating Expenses Projections

In addition to projecting annual revenue and business costs, Blue
Water Vibe Hotel & Serviced Apartments has also made operating expenses projections
to enable further financial forecasting and planning. The 5-year estimated operating
expenses are, as follows:
8.2.6.1 Distribution Costs
Commissions offered to OTAs are calculated to be at 25% of
the estimated room revenue from OTAs (more details are available in Appendix S).
E-commerce commissions are calculated to be at 3% of the
estimated room revenue from Packages segment (see more details in Appendix S).
Credit card fees are calculated to be at 1% of the estimated
room revenue based on statistics from Water Vibe Hotel.
Annual fees on channel manager software (i.e., SiteMinder)
costing 65,000 baht per year based on statistics from Water Vibe Hotel.
Advertising and promotional costs can be referred to from the
estimated marketing expenses in Appendix O.
Table 8.6
Blue Water Vibe Hotel & Serviced Apartments’ Estimated 5-year Distribution Costs
Distribution Costs
OTA Commissions 1,701,924 1,805,293 1,915,235 2,051,600 2,176,542
E-Commerce Commissions 18,593 19,725 20,926 22,201 23,553
Credit Card Fees 290,635 314,458 335,449 359,245 383,317
Channel Manager Fees 65,000 65,000 65,000 65,000 65,000
Advertising and promotions 295,532 90,723 49,772 50,962 52,166
Total Distribution Costs 3,598,070 3,596,072 3,766,479 4,027,367 4,268,969
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8.2.6.2 Administrative Costs

Staff salaries, referred from the employees’ compensation
rates in Table 7.2, and increasing by 5% annually based on the company-wide salary
increase projections.
Social security, referred from the employees’ compensation
rates in Table 7.2, and increasing by 5% annually in accordance with the salary increase.
Employee benefits, such as employee meals, uniforms, and
annual party allowance, costing a total of 332,100 baht per year based on statistics
from Water Vibe Hotel.
Audit fees, costing 30,000 baht per year based on statistics
from Water Vibe Hotel.
Utility expenses, such as water and electricity bills, accounting
for 8% of the total income based on statistics from Water Vibe Hotel.
Repair and maintenance costs, such as repair and
maintenance costs of elevators, electrical appliances, air conditioners, and pest
control, worth 100,000 baht and increased by 20% each year due to reduced useful
life.
Communication expenses, such as telephone and internet
charges, costing 18,000 baht per year based on statistics from Water Vibe Hotel.
Cost of materials, equipment, and consumables such as office
supplies, cleaning equipment, and chemical reagents, accounting for 1% of the total
revenue based on statistics from Water Vibe Hotel.
Property Management System (i.e., Easyfo), costing 57,750
baht per year based on statistics from Water Vibe Hotel.
Insurance fees, both property and third-party insurances,
costing 280,000 baht per year based on statistics from Water Vibe Hotel.
Parking space rental fee, costing 100,000 baht per year based
on statistics from Water Vibe Hotel. (For parking lot investment comparison, refer to
Appendix T)
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Table 8.7
Blue Water Vibe Hotel & Serviced Apartments’ Estimated 5-year Administrative Costs
Staff salaries 4,566,000 4,794,300 5,034,015 5,285,716 5,550,002
Social security 198,900 208,845 219,287 230,252 241,764
Employee benefits 332,100 332,100 332,100 332,100 332,100
Audit Fees 30,000 30,000 30,000 30,000 30,000
Utility expenses 3,321,541 3,593,810 3,833,707 4,105,660 4,380,767
Repair and maintenance 100,000 120,000 144,000 172,800 207,360
Communication expenses 18,000 18,000 18,000 18,000 18,000
Materials, equipment, and
415,193 449,226 479,213 513,207 547,596
consumables
Property Management
57,750 57,750 57,750 57,750 57,750
System
Insurance Fees 280,000 280,000 280,000 280,000 280,000
Parking space rental fee 100,000 100,000 100,000 100,000 100,000
Total Administrative Costs 9,419,483 9,984,032 10,528,072 11,125,485 11,745,338
8.2.6.3 Asset Depreciation

The serviced apartments utilize a straight-line method for
calculating asset depreciation. The depreciation of various assets is projected, as
follows:
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Table 8.8
Blue Water Vibe Hotel & Serviced Apartments’ Estimated Annual Asset Depreciation
Useful Life Depreciation
Asset Asset Cost
(years) Expense
Waterworks system 375,000 20 18,750
Electrical system 1,050,000 20 52,500
Drainage + roads + manhole 592,500 20 29,625
Fencing 600,000 20 30,000
Piling 3,531,000 20 176,550
Buildings (structure, sanitary wares, system) 96,569,640 20 4,828,482
CCTV system 450,000 5 90,000
Digital TV system 50,000 5 10,000
Internet network 300,000 5 60,000
Key card system 150,000 5 30,000
Air conditioning system 3,000,000 5 600,000
Decorative items 27,750,000 5 5,550,000
Furnitures 18,000,000 5 3,600,000
Electrical appliances 6,000,000 5 1,200,000
Landscaping 2,700,000 5 540,000
Security booth 180,000 5 36,000
Outdoor lighting 195,000 5 39,000
Golf carts 418,000 5 83,600
Total 16,974,507
8.2.6.4 Financial Costs

As Blue Water Vibe Hotel & Serviced Apartments' capital
structure is based on 40% borrowings, therefore, the funds incur an interest expense
for a period of 10 years where the fixed-rate interest is stated at 5.25% on the principal
of 74,000,000 baht. The principal and interest are paid at 793,960 baht per installment
for a period of 120 installments. The interest expenses for the long-term loan for years
1-5 is, as follows:
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Table 8.9
Blue Water Vibe Hotel & Serviced Apartments’ Interest on Long-Term Loans for Year
1-5
3,747,228 3,489,303 3,164,558 2,822,346 2,461,730
8.3 Analysis of Financial Returns
8.3.1 Income Statement
Table 8.10
Blue Water Vibe Hotel & Serviced Apartments’ Income Statement

Revenues
Revenue from room
occupancies 29,063,480 31,445,842 33,544,934 35,924,524 38,331,709
Other income 12,455,777 13,476,789 14,376,400 15,396,225 16,427,875
Total Revenue 41,519,257 44,922,631 47,921,335 51,320,749 54,759,585
Less Selling expenses
Room costs 2,906,348 3,144,584 3,354,493 3,592,452 3,833,171
Food and beverages
costs 4,982,311 5,390,716 5,750,560 6,158,490 6,571,150
Laundry costs 12,456 13,477 14,376 15,396 16,428
Operating Profit 33,618,143 36,373,854 38,801,905 41,554,410 44,338,836
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Table 8.10
Blue Water Vibe Hotel & Serviced Apartments’ Income Statement (Cont.)
Operating Profit 33,618,143 36,373,854 38,801,905 41,554,410 44,338,836
Less Expenses
Distribution Costs
OTA Commissions 1,701,924 1,805,293 1,915,235 2,051,600 2,176,542
E-commerce
18,593 19,725 20,926 22,201 23,553
commissions
Credit card fees 290,635 314,458 335,449 359,245 383,317
Channel manager fees 65,000 65,000 65,000 65,000 65,000
Advertising and
295,532 90,723 49,772 50,962 52,166
promotions
Total Distribution Costs 3,598,070 3,596,072 3,766,479 4,027,367 4,268,969
Salaries 4,026,000 4,227,300 4,438,665 4,660,598 4,893,628
Social security 190,500 200,025 210,026 220,528 231,554
Staff welfare benefits 332,100 332,100 332,100 332,100 332,100
Audit Fees 30,000 30,000 30,000 30,000 30,000
Utilities 3,321,541 3,593,810 3,833,707 4,105,660 4,380,767
Repairs and
100,000 120,000 144,000 172,800 207,360
maintenances expenses
Communication
18,000 18,000 18,000 18,000 18,000
expenses
Cost of materials,
equipment and 415,193 449,226 479,213 513,207 547,596
consumables
Property Management
57,750 57,750 57,750 57,750 57,750
System
Insurance Fees 280,000 280,000 280,000 280,000 280,000
Parking space rental 100,000 100,000 100,000 100,000 100,000
Total Administrative Costs 9,419,483 9,984,032 10,528,072 11,125,485 11,745,338
EBITDA 20,600,590 22,793,750 24,507,353 26,401,559 28,324,528
Less Depreciation 16,974,507 16,974,507 16,974,507 16,974,507 16,974,507
EBIT 3,626,083 5,819,243 7,532,846 9,427,052 11,350,021
Less Interest 3,747,228 3,489,303 3,164,558 2,822,346 2,461,730
EBT (121,145) 2,329,940 4,368,289 6,604,705 8,888,291
Less Income Tax (20%) 0 465,988 873,658 1,320,941 1,777,658
Net Profit (121,145) 1,863,952 3,494,631 5,283,764 7,110,633
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From Table 8.9, it can be seen that in the first year, Blue Water Vibe
Hotel & Serviced Apartments experiences a loss of 121,145 bath. However, in the
second year, the business is able to generate a net profit of 1,863,952 baht, or 4.15%
of the total revenue. This increases to 7.29, 10.30, and 12.99 percent in years 3-5,
respectively. This is due to the fact that in year 1, Blue Water Vibe Hotel & Serviced
Apartments spent the most on advertising and promotions to generate revenue. In the
2nd - 5th years, profits tend to increase on a continuous basis as Blue Water Vibe Hotel
& Serviced Apartments is expected to be better known to customers and its ongoing
promotional activities, which will result in a continuous net profit increase for the entire
5 years.
8.3.2 Balance Sheet
Table 8.11
Blue Water Vibe Hotel & Serviced Apartments’ Balance Sheet

ASSETS
Current Assets
Cash and cash equivalents 15,291,947 28,039,256 42,089,651 57,583,967 74,541,373
Non-Current Assets
Property, plant, and equipment 180,781,140 180,781,140 180,781,140 180,781,140 180,781,140
Minus Accumulated depreciation 16,974,507 33,949,014 50,923,521 67,898,028 84,872,535
Total Non-Current Assets 163,806,633 146,832,126 129,857,619 112,883,112 95,908,605
Total Assets 179,098,580 174,871,382 171,947,270 170,467,079 170,449,978
LIABILITIES
Long-term debt 68,219,725 62,128,575 55,709,832 48,945,877 41,818,143
OWNERS EQUITY
Owners Capital 111,000,000 111,000,000 111,000,000 111,000,000 111,000,000
Retained Earnings (121,145) 1,742,807 5,237,438 10,521,203 17,631,835
Total Equity 110,878,855 112,742,807 116,237,438 121,521,203 128,631,835
Total Liabilities & Owners Equity 179,098,580 174,871,382 171,947,270 170,467,079 170,449,978
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8.3.3 Free Cash Flow
Table 8.12
Blue Water Vibe Hotel & Serviced Apartments’ 5-year Free Cash Flow
Year0 Year1 Year2 Year3 Year4 Year5
EBIT - 3,626,083 5,819,243 7,532,846 9,427,052 11,350,021
Minus Tax (20%) - 0 465,988 873,658 1,320,941 1,777,658
NOPAT - 3,626,083 5,353,255 6,659,189 8,106,111 9,572,363
Add
- 16,974,507 16,974,507 16,974,507 16,974,507 16,974,507
Depreciation
Minus Change in
- - - - - -
Working Capital
Minus Capital
-180,781,140 - - - - -
Expenditure
Free Cash Flow -180,781,140 20,600,590 22,327,762 23,633,696 25,080,618 26,546,870
8.4 Sensitivity Analysis
As businesses may encounter unforeseen events that can affect its

operations at any time. The sensitivity analysis of its operations is the analysis of the
returns based on 3 financial cases; namely base case, worst case, and best case
scenarios, to cover the possibility of an event that may occur and have an effect on
business operations. The details of each case are, as follows:
8.4.1 Base Case Scenario
Blue Water Vibe Hotel & Serviced Apartments has made its free cash
flow analysis based on data from Table 8.12 and calculated the terminal value with a
terminal growth rate = 2%. The results of the analysis are, as follows:
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Table 8.13
Free Cash Flow in a Base Case Scenario

Terminal
Value
EBIT - 12,246,314 14,566,337 16,410,146 18,457,915 20,528,083 -
Minus Tax (20%) - 2,449,263 2,913,267 3,282,029 3,691,583 4,105,617 -
NOPAT - 9,797,051 11,653,069 13,128,117 14,766,332 16,422,466 -
Add
- 10,871,040 10,871,040 10,871,040 10,871,040 10,871,040 -
Depreciation
Minus Change in
- - - - - - -
Working Capital
Minus Capital
-115,486,800 - - - - - -
Expenditure
Free Cash Flow -115,486,800 20,668,091 22,524,109 23,999,157 25,637,372 27,293,506 742,573,863
NPV = 483,312,194 baht

IRR = 33.08%
Discounted Payback Period = 9.4 years
From the financial return analysis, it was found that the NPV in the
base case was positive at 483,312,194 baht, with the internal rate of return (IRR) of
33.08%, which was higher than the financial cost (Weighted cost of capital: WACC) of
5.65%, indicating that the project is financially viable.
8.4.2 Best Case Scenario
In a best case scenario, the assumption is changed from the base
case scenario where the occupancy rate of the hotel and serviced apartments are
increased from 68% and 70%, to 70% and 75% respectively, with an increase in the
hotel occupancy rate of 5% per year, and 7% per year for the serviced apartment
occupancy rate, until the 5th year. The terminal growth rate after the 5th year was
established at 3%, driven by rising trade and tourism trends and insufficient
accommodation availability. According to statistics from the Ministry of Tourism and
Sports, the occupancy rate of hotels in Chanthaburi province has continued to grow
from 2011 to 2019 on an average of 9.29% per year while the supply or number of
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rooms has only experienced annual growth of 7.25%. The assumption will affect the
returns for the business, as follows:
Table 8.14
Free Cash Flow in a Best Case Scenario

Terminal
Value
EBIT - 6,324,272 8,756,983 11,224,742 13,865,047 16,738,606 -
Minus Tax (20%) - 515,409 1,053,536 1,612,037 2,208,540 2,855,375 -
NOPAT - 5,808,863 7,703,447 9,612,705 11,656,507 13,883,231 -
Add
- 16,974,507 16,974,507 16,974,507 16,974,507 16,974,507 -
Depreciation
Minus Change in
- - - - - - -
Working Capital
Minus Capital
-180,781,140 - - - - - -
Expenditure
Free Cash Flow -180,781,140 22,783,370 24,677,954 26,587,212 28,631,014 30,857,738 1,200,971,468
NPV = 844,425,464 baht

IRR = 45.56%
8.4.3 Worst Case Scenario
In the worst case, the business will assume a slowdown in trade and
tourism in Chanthaburi which may be caused by the economic slowdown or from the
spread of a new strain of the COVID-19 virus, thus having an adverse effect on trade
and tourism, or the possibility that the business will face higher competition from new
competitors. As a result, in the first year, the occupancy rate of the hotel and serviced
apartments will decrease from 68% and 70%, to 60% and 65%, respectively, with the
annual occupancy rate growing by only 1% and 3% in years 2-5 for the hotel and
serviced apartments, respectively. The terminal growth rate after the 5th year is
estimated to be at 1%. The assumption will affect the returns for the business, as
follows:
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Table 8.15
Free Cash Flow in a Worst Case Scenario

Terminal
Value
EBIT - 2,266,324 3,331,721 4,272,509 5,207,796 6,180,699 -
Minus Tax (20%) - - - 221,590 477,090 743,794 -
NOPAT - 2,266,324 3,331,721 4,050,919 4,730,706 5,436,905 -
Add
- 16,974,507 16,974,507 16,974,507 16,974,507 16,974,507 -
Depreciation
Minus Change in
- - - - - - -
Working Capital
Minus Capital
-180,781,140 - - - - - -
Expenditure
Free Cash Flow -180,781,140 19,240,831 20,306,228 21,025,426 21,705,213 22,411,412 487,154,277
NPV = 278,070,749 baht

IRR = 23.11%
From the analysis of the three financial returns scenario mentioned

above, the return on investment can be compared, as follows:
Table 8.16
Comparison of Return on Investment

Base Case Best Case Worst Case
Hotel 68% 70% 60%
First-Year Occupancy
Serviced Apartments 70% 75% 65%
Hotel 3% 5% 1%
Growth in Occupancy Year 2: 14%
Serviced Apartments 7% 3%
Year 3-5: 6%
Terminal Growth Rate 2% 3% 1%
Probability 50% 25% 25%
NPV 483,312,194 844,425,464 278,070,749
IRR 33.08% 45.56% 23.11%
Discounted Payback Period 9.4 years 8.1 years 11.4 years
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From the analysis of all three financial return scenarios, it was found
that the project's NPV was positive. This means that the net cash flow received from
the project is greater than the initial investment, or in other words, the project can
turn a profit. This is consistent with the IRR which was found to be greater than the
weighted average cost of capital (WACC), indicating that the project is financially viable.
The average payback period from all three scenarios is 9.6 years, which is lower than
the 10-year target. Therefore, it can be concluded that Blue Water Vibe Hotel &
Serviced Apartments’ business plan is an attractive project and worth the investment.
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CHAPTER 9
EVALUATION & CONTINGENCY PLAN
9.1 Evaluation
The evaluation is highly concerned by the company as it is a tool to

determine the customer satisfaction results while also keeping the company to follow
tha plans. The evaluation is set into the following departments
9.1.1 Sales and Marketing

(1) Revenue
Indicators: Occupancy Rate, Average Room Rate (ARR), Revenue per
Available Room (RevPar), Hotel Revenue
Method: Evaluate the actual and expected revenue and compare
the sales with the competitors during the same period to determine the
increase/decrease of strength against the competitors.
Frequency: Monthly
Solution: Define the causes of problems and make improvements on
the marketing strategies
(2) Marketing Campaign Effectiveness
Indicators: Booking through marketing campaigns, Marketing ROI
Method: Evaluate the actual and the expected sales for each
campaign. Evaluate the ROI from the campaign in comparison to the previous ones.
Frequency: At the end of every campaign
Solution: Define the causes of problems and make improvements on
the marketing strategies to be aligned with the target customer's needs
(3) Customer Loyalty and Retention
Indicators: Customer Retention Rate
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Method: Collect statistics for returning customers to calculate

customer retention rate and compare to the previous period. The company aims to
achieve 10% retention rate
Frequency: Annually
Solution: Gather feedback from customers. Analyze, improve and fix
the marketing strategy focusing on providing positive experiences to the customers and
aftersales services. Provide special offers to incentivize direct marketing.
9.1.2 Operation
(1) Customer Satisfaction
Indicators: Complaints, Questionnaire score, OTAs reviews
Method: - Create questionnaires to gather customer feedback on
certain topics such as rooms, food & beverages, conference, and facilities.
- Gather reviews and comments from all sources (direct, phone,
websites, social medias)
- Create OTAs review reports monthly to maintain the satisfactory
score of 8.8
Solution: Define the root cause of the complaints and meet with the
associated department to find a way to fix the issue.
(2) Cost Management
Indicators: Gross Profit Margin
Method: - Calculate Gross Profit Margin monthly to determine the
effectiveness of cost management compared to the expected target and previous
statistics.
Solution: Meet with associated departments to work on cost
reduction approaches to achieve the targeted goal and keep track of the progress.
9.1.3 Human Resources
Evaluation for employee satisfaction in the company is an important
factor for a successful business as people are what drive the business forward. The
company must ensure the employees work happily so that quality service and goods
are served to the customer effectively.
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Indicatos : Employee Satisfaction / Turnover Rate

Method: - Quarterly meeting between the employees and managers
to exchange ideas and comments in the company and to discuss potential issues for
solutions
- Gather employee feedback every 6 months via surveys to
determine the employee satisfaction result.
- Create Exit Interview for leaving employees to acquire reasons for
quitting to define the weaknesses and problems and other internal issues.
- Create a turnover rate report and compare it with other
departments to analyze the potential problems.
Solution: Meeting with each department to define the dissatisfactory
cause and let the employees express their complaints and find the solution together
9.1.4 Finance
Financial management is an important function that supports and
controls the progress of other departments to run an effective business. To ensure
smooth and expected financial results of the company, the company requires to
manage and evaluate its financial status as follows:
(1) Create Profit & Loss reports for monthly, quarterly, and annually
periods to manage and track the current status and compare it to the forecasted result
of each period. This will enable the company to visualize the expected result
compared to the actual result to determine any mistakes and problems to solve as
quickly as possible while being able to manage the resource reasonably.
(2) Create Profit & Loss reports for monthly, quarterly, and annually
periods to hand over to the shareholders so that the financial strategy can be
reevaluate during each period.
9.2 Contingency Plan
Investment in any business comes with a risk. A situational change can

affect the business. To prevent this, Blue Water Vibe Hotel & Serviced Apartments will
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require a contingency plan to handle such situations to minimize the damage to the
business.
9.2.1 Marketing Plan
(1) When sales figures failed to achieve expected target
In a case the number of visitors are not what was expected, resulting
in smaller growth, which may be caused from the following events:
- Business factors: Marketing campaign is not promoted enough,
subpar quality services or goods, or unable to satisfy the customers. If this was the
reason for the decline, Blue Water Vibe Hotel & Serviced Apartments will have to adjust
their promotion channels by inspecting the market and adjust its communication
channels to match with the target customers. The hotel will also need to evaluate its
services and goods by addressing complaints and feedback from all sources to
ultimately offer the best solution to achieve maximum customer satisfaction. The 7P’s
Marketing Mix principles will be used for the evaluation, these include product, price,
place, promotion, people, process, and physical evidence.
- Non-business factors: such as politics, economy, war, natural
disaster, pandemic etc. These factors are beyond the company's control. To address
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the issue, the hotel will follow up with the news related to tourism and hospitality to
analyze the situation. If the analysis points to fewer visitors in the next coming year,
the hotel can adjust their strategy and service accordingly and remove unnecessary
expenses.
- Increase in direct competitors: Hotels and accommodation business
is popular among investors and is increasing in popularity over the years. The possibility
of very similar business models can arise. As a service provider, the key aspects of
success are hygiene, satisfaction, and the ability to maintain loyal customers. These
traits are very unique to Rimnaam and are hard to intimidate. Blue Water Vibe Hotel &
Serviced Apartments also utilizes marketing campaigns to reach new customers by
expressing the strong points of the hotel such as spectacular views, relaxing nature
environment and facilities. All of this combined, customers are aware of the
uniqueness of the hotel
(2) The case of hotel or serviced apartment model failed
In the long run, if either hotel or serviced apartment cannot achieve
its successful figure, the company will reconsider the marketing strategy by reducing
the number of rooms of the failing model and increasing the other one. This is possible
as the size and decoration of the rooms are similar. Other options apart from hotel
and serviced apartment can be considered if deemed reasonable by the company
9.2.2 Operational Plan
(1) Risks from delayed construction
Many entities are involved in the construction: government,
architecture, construction workers etc. Delays can commonly occur for many reasons
such as documents, utility requests, weather, lack of workers, shipping delay and wrong
specs. The delays usually come with extra unnecessary costs. This can be prevented
by planning carefully and the progress should be tracked and monitored regularly to
ensure the work is according to the plan and minimize the time to address issues. If
changes are to be made, it should be informed in advance to make it affect the project
as little as possible. Nevertheless, the company will reserve some funds and time in
case of inevitable delays.
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(2) In a case of insufficient staff

Rimnaam Hotel & Serviced Apartment runs 24/7. In a case where a
few employees are sick or quit during a high season, there might be insufficient staff
to take care of everything. In such a situation, the hotel would hire extra temporary
staff who are qualified from the workforce network to work in cleaning, kitchen, food
and drinks sections to allow the hotel to run smoothly. Additionally, during the low
season, the company will conduct training programs to have the employees learn to
work in many departments in case of contingency. However, for certain positions such
as receptionist, the company will do overtime pay instead of hiring temporary staff as
the position requires a level of expertise.
(3) In case of the termination of the renting parking spot
The extra parking area will be rented. When the termination of the
contract comes, the renter can either agree or disagree to extend the contract. To
address this inevitable outcome. The company will constantly acquire new lands
nearby to prepare to make new parking areas. The funds for this project will come
from the cumulative profit or capital increment from the shareholders, or both
9.2.3 Financial plan
In a situation where financial status lacks liquidity due to unachieved
goals or season issues resulting in an unexpected low revenue, the company would
resort to an overdraft loan and short-term borrowing from the shareholders to regulate
the company until the situation relieves and resume good liquidity for the business
However, if the company lacks liquidity due to non-business issues
such as politics, economics, wars, natural disasters or pandemic, that may affect the
ability to pay off any debts. The company would use additional funds from the
shareholders to circulate the business. If the situation seemed to get worse and the
revenue was in a constant decline, the business would have initiated restructure of
organization by reducing unnecessary services and expenses while adjustments to the
marketing strategy would be made.
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APPENDICES
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APPENDIX A
FOREIGN NATIONALS APPLIED FOR LONG-TERM BUSINESS VISA
AT CHANTHABURI IMMIGRATION OFFICE
Country of
No 2018 2019 2020 2021 Total
Origin
1 Guinea 332 328 300 233 1,193
2 China 41 84 70 69 264
3 Mali 47 54 55 35 191
4 Cote d'Ivoire 11 13 12 9 45
5 India 8 13 9 14 44
6 Gambia 9 8 9 5 31
7 Philippines 2 4 3 2 11
8 Vietnam 2 2 3 3 10
9 United Kingdom 1 2 2 3 8
10 Sierra Leone 1 2 2 2 7
11 Senegal 1 3 3 - 7
12 Zambia 2 2 2 1 7
13 Madagascar 2 2 1 1 6
14 Brazil 1 2 1 1 5
15 Liberia - 1 2 2 5
16 Cambodia - - 2 2 4
17 Ghana 1 1 1 1 4
18 Taiwan 2 2 - - 4
19 Myanmar 1 1 1 1 4
20 Russia 2 2 - - 4
21 Sweden 1 1 1 1 4
22 South Korea 1 1 1 - 3
23 Togo - 1 1 1 3
24 Belgium - 1 1 1 3
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Country of
No 2018 2019 2020 2021 Total
Origin
25 Pakistan 2 1 - - 3
26 Sri Lanka - - 1 2 3
27 Malaysia 1 1 - - 2
28 Burkina Faso - - - 1 1
29 Mozambique - 1 - - 1
30 Germany - - - 1 1
31 Laos 1 - - - 1
32 United States - - 1 - 1
33 Ethiopia - 1 - - 1
Total 472 534 484 391 1,881
Note. From Chanthaburi Immigration Office (2022).
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APPENDIX B
WATER VIBE HOTEL’S LOST BUSINESSES DURING 2019
No. No. T/T Est
Room Room Total Est F&B.
COMPANY NAME Catering Segment Period of of Room Room Total Rev.
Type Rate Room Rev. Rev.
night Guest night Rev.
Faculty of Agricultural Technology,

M+D COR 15-Jan-19 100 80,000 80,000
Burapha University
Office of National Anti-Corruption
M MICE 19-Jan-19 100 40,000 40,000
Commission
26 DTB 1,800 46,800
16 DKB 1,800 28,800
BaanSod Chulalongkorn University R+M MICE 25-27-Jan-18 2 80 144,000 40,000 184,000
16 PMK 1,800 28,800
22 JSK 1,800 39,600
Kosol Tours R AGENT 2-3-Feb-19 1 120 40 1,800 72,000 72,000 72,000
2 DKB 1,600 3,200
Regale International Travel Co., Ltd., R+M+D MICE 15-17-Feb-19 2 50 44,800 7,500 52,300
26 DTB 1,600 41,600
Medtronic International Ltd. M MICE 16-17-Feb-19 50 75,000 75,000
Court of Justice, Chonburi R+M MICE 23-25-Feb-19 2 60 35 DKB 1,600 56,000 56,000 60,000 116,000
Amnuay Silpa School D MICE 22-Feb-19 120 42,000 42,000
13 DTB 1,500 19,500
8 DKB 1,500 12,000
Secretariat of the Senate R GOV 1-2-Mar-19 1 40 75,000 75,000
8 PMK 2,000 16,000
11 JSK 2,500 27,500
The At Most Company Co.,Ltd M MICE 8-Mar-19 100 55,000 55,000
Thailand Greenhouse Gas Management
M MICE 10-Mar-19 100 50,000 50,000
Organization
3 Plus Travel R+M+D MICE 14-16-Mar-19 2 40 26 DTB 1,500 39,000 81,000 16,000 97,000
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No. No. T/T Est

14 DKB 1,500 21,000

10 PMK 1,500 15,000
4 JSK 1,500 6,000
Wedding - Khun Joy D MICE 20-Mar-19 150 63,000 63,000
13 DTB 1,500 19,500
Kosol Tours R AGENT 30-31-Mar-19 1 50 8 DKB 1,500 12,000 39,500 39,500
4 PMK 2,000 8,000
13 DTB 1,500 19,500
8 DKB 1,500 12,000
Secretariat of the Senate R+M MICE 1-2-Apr-19 1 200 75,000 80,000 155,000
8 PMK 2,000 16,000
11 JSK 2,500 27,500
National Food Institute M M 4-Apr-19 150 75,000 75,000
Chanthaburi Revenue Office R+M+D M 4-6-Apr-19 2 60 30 DTB 1,500 45,000 45,000 84,000 129,000
15 DTB 1,500 22,500
Office of Vocational Education
R+M MICE 22-25-Apr-19 3 60 15 PMK 1,900 28,500 118,500 54,000 172,500
Commission
27 JSK 2,500 67,500
14 DKB 1,500 21,000
Glory Travel R+D MICE 23-25-Apr-19 2 40 60,000 15,000 75,000
26 DTB 1,500 39,000
Golden Discovery Express R Agent 25-27-Apr-19 2 10 9 JSK 2,600 23,400 23,400 23,400
Chanthaburi Revenue Office R GOV 29-1-May-19 2 50 50 DTB 1,500 75,000 75,000 75,000
13 DTB 1,600 20,800
8 DKB 1,600 12,800
National Credit Bureau R+M MICE 2-3-May-19 1 150 78,200 112,000 190,200
8 PMK 2,000 16,000
11 JSK 2,600 28,600
Stock Exchange of Thailand M M 5-May-19 300 120,000 120,000
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No. No. T/T Est

26 DTB 1,500 39,000

16 DKB 1,500 24,000
Chonburi Provincial Electricity Authority R+M+D MICE 22-24-May-19 2 80 105,000 104,000 209,000
8 PMK 1,500 12,000
20 JSK 1,500 30,000
Bank for Agriculture and Agricultural 1 DTB 1,500 1,500
D GOV 30-31-May-19 1 20 24,000 24,000
Cooperatives 9 JSK 2,500 22,500
13 DTB 1,500 19,500
8 DKB 1,500 12,000
The Narcotics Control Board R+M MICE 30-31-May-19 2 60 74,200 54,000 128,200
8 PMK 1,900 15,200
11 JSK 2,500 27,500
6 DTB 1,500 9,000
8 DKB 1,500 12,000
Royal Thai Survey Department R+D MICE 7-9-Jun-19 2 40 54,800 15,000 69,800
2 PMK 1,900 3,800
12 JSK 2,500 30,000
National Institute of Development 3 DKB 1,500 4,500
R+M MICE 26-28-Jun-19 3 80 6,000 44,000 50,000
Administration 1 PMK 1,500 1,500
26 DTB 1,600 41,600
Mahidol University R+D MICE 28-30-Jun-19 2 40 16 DKB 1,600 25,600 70,400 14,000 84,400
2 PMK 1,600 3,200
Department of Local Administration M MICE 1-Jul-19 80 28,000 28,000
13 DKB 1,500 19,500
8 DTB 1,500 12,000
Royal Thai Survey Department R+D MICE 3-4-Jul-19 1 80 74,200 28,000 102,200
8 PMK 1,900 15,200
11 JSK 2,500 27,500
Chanthaburi Chamber of Commerce M MICE 11-Jul-19 100 20,000 20,000
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No. No. T/T Est

Wedding - Khun Fon M MICE 16-Jul-19 300 150,000 150,000

13 DTB 1,500 19,500
Tobacco Authority of Thailand R MICE 17-18-Jul-19 1 50 8 DKB 1,500 12,000 56,500 42,500 99,000
10 JSK 2,500 25,000
Thai PBS M MICE 24-Jul-19 90 50,000 50,000
13 DTB 1,500 19,500
8 DKB 1,500 12,000
CCT OUTBOUND TOUR R+M+D MICE 30-31-Jul-19 1 50 74,200 30,000 104,200
8 PMK 1,900 15,200
11 JSK 2,500 27,500
13 DKB 1,500 19,500
8 DTB 1,500 12,000
Department of Rural Roads R+M+D MICE 3-4-Aug-19 1 120 75,000 36,000 111,000
8 PMK 2,000 16,000
11 JSK 2,500 27,500
Wedding - Khun Ice M MICE 21-Aug.-19 50 50,000 50,000
13 DTB 1,600 20,800
8 DKB 1,600 12,800
GCME R+M MICE 24-25-Aug-19 1 110 78,200 60,000 138,200
8 PMK 2,000 16,000
11 JSK 2,600 28,600
26 DTB 1,500 39,000
FMCAG R+M MICE 27-29-Aug-19 2 40 63,000 20,000 83,000
16 DKB 1,500 24,000
16 DKB 1,800 28,800
26 DTB 1,800 46,800
Ataboon International Motor R+M+D MICE 30-Aug-1Sep-19 2 103 144,000 30,000 174,000
16 PMK 1,800 28,800
22 JSK 1,800 39,600
Mahasarakham University M MICE 7-8,14-15-Sep-19 80 160,000 160,000
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No. No. T/T Est

DeOne International R COR 1-2-Oct-19 1 40 13 DTB 1,600 20,800 20,800 20,800

PTT GC CO.,LTD. R COR 5-6-Oct-19 1 4 4 JSK 2,000 8,000 8,000 8,000
8 DKB 1,600 12,800
13 DTB 1,600 20,800
Gorilla Event R+D MICE 9-10-Oct-19 1 40 78,200 18,000 96,200
8 PMK 2,000 16,000
11 JSK 2,600 28,600
Bangkok Bank R COR 12-13-Oct-19 1 1 1 DKB 1,600 1,600 1,600 1,600
Origin Property R+D MICE 22-24-Oct-19 2 60 60 DLX 1,500 90,000 90,000 45,600 135,600
13 DTB 1,500 19,500
8 DKB 1,500 12,000
Newview Tour R+D MICE 2-3-Nov-19 1 40 75,000 14,000 89,000
8 PMK 2,000 16,000
11 JSK 2,500 27,500
Siam Smile Broker (Thailand) M MICE 12-13-Nov-19 80 12,000 12,000
13 DTB 1,600 20,800
8 DKB 1,600 12,800
Maxsys Media R+M+D MICE 23-25-Nov-19 2 70 78,200 30,000 108,200
8 PMK 2,000 16,000
11 JSK 2,600 28,600
Wedding - Khun Nan D MICE 25-Nov-19 100 35,000 35,000
21 DLR 1,500 31,500
Office of Insurance Commission R+M+D MICE 29-30-Nov-19 1 90 8 PMK 2,000 16,000 76,100 80,000 156,100
11 JSK 2,600 28,600
XCON CO.,LTD. D MICE 4-Dec-19 100 50,000 50,000
Panyapiwat Institute of Management M MICE 14-Dec-19 80 28,000 28,000
TOTAL CXL 1,315 2,314,800 2,316,600 4,631,400
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APPENDIX C
OVERVIEW OF THAILAND AND CHANTHABURI TOURISM INDUSTRY
Thailand's Tourism Overview
Thailand's tourism industry plays a significant role to the country's

economic, social, cultural, and environmental benefits. The government's continual
tourist marketing programs and the establishment of a tourism authority explicitly
demonstrate it. The economic importance of Thailand's tourism sector is one of its
most notable elements. It is fair to say that tourism is one of the country's most
important revenue-generating businesses. This is supported by the research from
Thailand Development Research Institute. (2021) that shows Thailand is one of the top
five countries in the world which has the highest income from foreign tourists.
In 2019, the year before COVID-19 had spread throughout the world,
Thailand welcomed more than 40 million tourists. This number had virtually tripled in
the past 13 years, with an annual compound average growth rate of 8.5 %. Meanwhile,
international tourism receipts increased to about 2 trillion baht, or 11.5% of GDP, with
a compound annual growth rate of 11 %. Together with domestic Thai tourists, overall
tourism earnings in 2019 were as high as 3 trillion baht or 18 % of the country’s GDP.
However, due to the COVID-19 outbreak, foreign tourists would not be able to enter
Thailand after 2020. As a result, barely 6.7 million foreign tourists visited Thailand in
2020, bringing a foreign tourist revenue of 0.33 trillion baht, or a decrease of 83 % from
the previous year. When combined with revenues from domestic tourists, the tourism
sector generated a total receipt of 0.81 trillion baht in 2020, which equals a 72.79 %
decrease from 2019 (TTB Analytics, 2021).
Not only the COVID-19 outbreak had negatively impacted on Thailand's
economy and tourism. It also has an effect on tourism-related businesses including
hotels, airlines, tour operators, MICE businesses, car rental companies, tour guides,
museums, shopping, stores, and restaurants. In this regard, the government has
acknowledged the problem's seriousness and has decided to implement initiatives
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such as "Gum Lang Jai" (Encouragement), "Rao Tiew Duay Gun" (We Travel Together),
and "Tiew Pun Sook" (Traveling Shares Happiness). These initiatives are designed to
boost domestic tourism, increase consumer confidence, and encourage tourists to
spend more money on domestic travel. The legislation is also intended to assist
businesses in the tourism sector, which has been heavily impacted by the COVID-19
outbreak in both direct and indirect ways.
However, in the past, Thailand's domestic tourism market only contributed
for 33 % of overall tourism revenue. The majority of tourism revenue is still awaiting
the return of foreign tourists. As the population has been fully vaccinated and the
government has begun to reopen the country both inbound and outbound, it is
expected to gradually recover in the fourth quarter of 2021. However, the Ministry of
Tourism has forecasted that, it will not be until 2024 that the tourism industry in
Thailand will fully recover and the income from tourism will return to the level that it
was at before the pandemic (Thansettakij, 2021).
Chanthaburi's Economy and Tourism Overview
Chanthaburi, commonly known as 'Mueang Chan,' is a province in eastern

Thailand, close to the Cambodian border, on the Gulf of Thailand's coast. The distance
between Bangkok and Chanthaburi is 245 kilometers, or a short 3.5-hour drive. The
province is 6,338 square kilometers in size or approximately 1.8 % of the country's
total area. It has a population of 556,946 inhabitants who are Thais, Chinese, and
Vietnamese (Tourist Information Division, Tourism Authority of Thailand, 2019). This mix
of cultures has permeated every aspect of the city, from the architects to the food,
giving Chanthaburi its unique charm and varied cultural offerings. In terms of geography,
the southern half of Chanthaburi is primarily coastal plains due to its proximity to the
Gulf of Thailand. The Chanthaburi River is the principal watercourse in the hinterland,
which is mountainous Given its quantity and diversity of natural and cultural resources,
Chanthaburi offers a wide range of attractions including a riverside old town, historical
sites, and structures, as well as stunning beaches, mountains, and waterfalls.
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Not only it is known for its diversified tourist attractions, but Chanthaburi
is also renowned for its production of gems and agriculture. Chanthaburi has been
regarded as the world’s leading hub for gems and jewelry manufacturing and trading,
where 80 percent of country’s gemstone exports are cut and treated there. Besides,
Chanthaburi is also blessed with a wealth of natural resources, which aid in the
effective production of tropical fruits, making it one of the country's top growers and
exporters of fresh and processed fruits, notably durians, mangosteens, longans, and
rambutans. In addition to the fruit production industry, tourism industry, and jewelry
industry that create great value for Chanthaburi, Chanthaburi's territory next to
Cambodia's rapidly expanding and growing purchasing power also creates significant
economic benefits for Chanthaburi from border trade, goods transport, and tourism,
with a trade balance of more than 10 billion baht each year.
In 2019, Chanthaburi ranked 21st in the country's economy with a gross
provincial product (GPP) of about 133 billion baht. From 2018 to 2019, the economy
grew at a pace of 10.6 %. The agriculture industry, which accounted for 55 % of the
province's GPP, was the major factor. Meanwhile, GPP per capita was 239,453
baht/person/year, which ranked 15th out of all 77 provinces across Thailand (Office of
the National Economic and Social Development Council, 2019). Although the Covid-19
crisis would affect Chanthaburi's economy as severely as the Thai and worldwide
economies from 2020 onwards, the Chanthaburi Provincial Office of the Comptroller
General (2021) still expects that Chanthaburi's GPP will expand by 4.8 % in 2022.
In terms of tourism, Chanthaburi is being pushed to be a "secondary city
model" based on its strengths in art, culture, lifestyle, tourist attractions, food, and
quality fruits, in addition to being titled one of the 12 Must-Visit Cities (2016) and 12
Must-Visit Cities Plus (2017) by the Tourism Authority of Thailand. Due to the
government's strategic initiative in promoting tourism, Chanthaburi's tourist overview in
2015 to 2019 had continued to develop both the number of tourists and the revenue
to be close to the major tourist cities. Prior to the global spread of COVID-19, the
number of visitors to Chanthaburi in 2019 was 2.48 million, with 2.39 million Thais
(96%) and 0.09 million foreigners (4 %). Revenue from tourism in 2019 was
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approximately 8,713.84 million baht. COVID-19, on the other hand, had a detrimental
impact on Thailand's tourism business in 2020, including Chanthaburi. In 2020, the
number of visitors to Chanthaburi decreased by 42.78 %, to 1.42 million. Tourism
revenue declined by 49.38 %, or 4,411.00 million baht. As a consequence, Chanthaburi
was ranked 28th and 22nd in the country in terms of tourist numbers and revenue,
respectively. However, due to the improved COVID-19 scenario, the Chanthaburi
Provincial Office of the Comptroller General (2021) estimates that in 2022, the number
of tourists and tourism revenue would rise by 9.2% and 10.2%, respectively, from the
previous year.
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APPENDIX D
INDUSTRY STRUCTURE
The categorization of accommodations does not provide a clear standard

on how many types are available, as they may differ according to the purpose of
classification. Some might be classified depending on their location, the length of stay
of guests, its method of administration, the type of services provided to its guests, or
any other factors. However, from a survey of accommodations in Thailand, it may be
summarized into the following broad categories based on their individual
characteristics.
(1) Hotel
May be defined as an overnight accommodation that offers comprehensive
facilities and services, such as a variety of rooms, restaurants, swimming pools, fitness
centers, etc. Each hotel level ranges from 1 to 5 stars, depending on the size, location,
facilities, convenience, and services. The rental rates are directly related to the star
ratings.
(2) Resort
Resorts are different from hotels when considering that most of them are
located amidst a natural setting near attractions such as the sea, mountains, waterfalls,
and resemble vacation homes or low-rise buildings that are not very tall. But resorts
may be considered to be similar to hotels based on the availability of common
facilities, such as restaurants, swimming pools, fitness centers, etc. The accommodation
rates depend on the facilities available within the resort.
(3) Hostel
Consist mostly of dormitories with multiple beds, such as bunk beds within
the same room. Most hostels provide only basic amenities for their guests, such as
beds, pillows, blankets, and lockers. The common area for this type of accommodation
is often shared, such as the areas around the living room, bathroom, and kitchen, to
allow guests to share experiences with other guests. It is an affordable accommodation
suitable for backpackers, teenagers, and students.
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(4) Motel
Originated from the US, its name is a combination of the word ‘motor’ and
‘hotel’, as most of them are generally located on intercity routes. Their services are
open to travelers who are traveling by car and need a break during their trips. Parking
spaces are available right in front of the room or a nearby parking lot. Accommodation
prices are mostly cheap and economical. Most motels in Thailand that also feature a
car park are mostly short-time motels. They are also characterized by curtains where
cars are able to drive in and park right at the room’s entrance. Most of them are
suitable for a temporary stay of a few hours or even overnight.
(5) Bed & Breakfast
The concept of this accommodation is to offer a combination of stays and
breakfast. Most of them are local homes that are open to tourists for overnight stays.
Access to most of the common areas, such as the living room or kitchen, maybe
restricted or must be shared with the homeowner.
(6) Guesthouse and Bungalow
Guesthouses and bungalows are categorized as small accommodations
with affordable pricing. Most of them are equipped with the necessary amenities and
may not have many rooms. The difference between a guesthouse and a bungalow is
that, a guesthouse is often a house or a small building that the homeowner renovates,
alters, or rebuilds and is often located in a community area or tourist city. While on
the other hand, bungalows are often found close to natural attractions, such as by the
sea or mountains. They are mostly single-storied houses with no kitchens, or detached
rooms, and may or may not have a patio in front or around the house.
(7) Homestay
This type of accommodation is similar to a Bed & Breakfast, i.e. a
community home that allows tourists to stay and spend their time with the local
homeowners who live in the area. Most homestay accommodation provides rooms
and meals to tourists, and most of the meals served are unique dishes of each locality.
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Additionally, homestay activities usually include a display of the cultural tradition of

each particular locality for tourists to enjoy, such as taking tourists to visit local tourist
attractions or other unique activities in the community. Guests are usually considered
as guests of the homeowner in which they are willing to receive wholeheartedly.
(8) Serviced Apartment
Serviced Apartments are accommodations that focus on long-term stays
of at least one month or more. The appearance of the accommodation is often similar
to a condominium or an apartment, but Serviced Apartments are different due to the
availability of various services that are already included with the accommodation rate
(The Apartment Service, 2020). This allows convenient walk-ins by tenants as there are
supporting services in almost every aspect, whether it is housekeeping, laundry, or
even meal services, making it highly popular among foreigners visiting Thailand.
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APPENDIX E
TECHNOLOGY IN THE HOSPITALITY INDUSTRY
From the past until now, technology has played an important role
in life, from communication, learning, thinking, and even consumer behavior. As a
result, many hotel business operators have extensively utilized technology to operate
their business and use it as a tool to support marketing activities. Starting from
communication to inspiring the desire to use the service, using it as a handy tool while
staying in a hotel or accommodation, as well as, having a platform in providing
feedback after using the service, and even a tool to generate repeat visits.
(1) Mobile Technology - digital technology and mobile
communication devices allows consumers to connect to useful information easily,
conveniently, and quickly. Currently, more than 80% of the world's population owns
at least one smartphone. Meanwhile, about 33% of the population in developed
countries and 50% in developing countries, pick up their phones within five minutes
of waking up. This goes to show that many people use smart devices on a regular basis,
especially for communicating and searching for information, as well as, enabling
tourists to search for information more easily. In addition, tour operators and hotels
can conduct their marketing activities through social media or use applications such as
booking rooms directly with hotels and via OTAs, car bookings, digital maps, etc.
(2) Contactless Technology - In the tourism and hospitality sector,
contactless technology was already in use before the Covid-19 pandemic. Many hotels
have invested in voice-activated technology in elevators or in guest rooms, or using
digital keys in unlocking rooms via smartphone to provide superior convenience to
customers. It also includes the use of voice-activated sensors instead of touching, RFID,
NFC, face recognition, and biometric identification. Under the new normal after the
Covid-19 crisis, such as keeping a safe distance and reducing direct exposure, tourism
and hotel businesses are exponentially more likely to adopt technology to build
confidence and safety for tourists and maintain competitiveness.
(3) Digital Workforce – Is expected to replace human labor. Whether
it is using robots to facilitate door-to-door service, in restaurants, or in airports, including
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the use of bots to interact with customers for frequently asked questions. In particular,
there are questions about safety concerns and the risk of an ever-increasing number
of epidemic outbreaks. This will greatly reduce the workload of real employees.
(4) Augmented Reality & Virtual Reality - Combines simulated objects
or places with the real world through the perception of sight, touch, sound, or even
smell. The virtual world technology can play a role in the tourism industry, a prime
example of which is the Google Street View to view places and visits to attractions
such as museums or concerts, or to use VR simulations for navigation to give customers
a realistic first look at the rooms and interiors of the hotel before making a decision.
(5) Artificial Intelligence (AI) – AI has now played an important role in
helping to collect and analyze information of hotel business users as it is not only able
to analyze customer insights such as personal preferences, tastes, behavior, but can
also anticipate what the customer wants before their actual request. This information
can help hotels to offer better personalized services and affect customer satisfaction
brand loyalty and create more sales opportunities.
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APPENDIX F
THE IMPORTANT LAWS AND RELATED REGULATIONS FOR
HOTEL BUSINESS OPERATION
Activities Related Laws & Regulations Regulators
Company  Business Registration Act B.E. 2499  Ministry of Commerce
Registration (1956) / Notification of the Ministry of  Department of Business
Commerce Re: Requiring Business Development
Operators to Register Businesses (No.
11), B.E. 2553 (2010)
 The Civil and Commercial Code
 Public Limited Companies Act B.E. 2535
(1992)
Hotel Business  Hotel Act, B.E. 2547 (2004)  Ministry of Interior.
Registration and  Department Of Provincial
License Administration
Hotel  Town Planning Act B.E. 2562 (2019)  Ministry of Interior
Construction  Building Control Act, B.E. 2522 (1979)  Department of Public Works and
Town & Country Planning
 Public Health Act, B.E. 2535 (1992)  Ministry of Public Health

 Department of Health
 Enhancement and Conservation of  Ministry of Natural Resources and

National Environmental Quality Act, B.E. Environment
2535 (1992)  The Pollution Control
Department
Hotel Operation  Hotel Act, B.E. 2547 (2004)  Ministry of Interior.

 Department Of Provincial
Administration
 The Civil and Commercial Code  Ministry of Commerce
 Labor Protection Act B.E. 2541 (1998)  Ministry of Labor
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Activities Related Laws & Regulations Regulators

Hotel Operation  Labor Protection Act B.E. 2541 (1998)  Department of Labor Protection
and Welfare
 Social Security Act B.E. 2533 (1990)  Social Security Office
 Compensation Act, B.E. 2537 (1994)  Social Security Office
Taxation  Revenue Code  Ministry of Finance

 The Revenue Department
 Land and Buildings Tax Act, B.E. 2562  Ministry of Interior

(2019)  Ministry of Finance
 Signboard Tax Act B.E. 2510 (1967)  Ministry of Interior
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APPENDIX G
DIRECT COMPETITORS OF BLUE WATER VIBE HOTEL & SERVICED
APARTMENTS
Located within the 10-kilometer radius of the hotel, direct competitors

who offer similar products and services to the to the same customers via the same
market channels as Blue Water Vibe Hotel & Serviced Apartments can be identified as
follows:
(1) Maneechan Resort
MANEECHAN RESORT
Address: 110 Moo 11 Plubpla,
Mueang Chanthaburi, Chanthaburi 22000, Thailand
Tel. (66) 39 373 666
Website: https://www.maneechan.com
Facebook: facebook.com/maneechanresort
IG: maneechanresort
Line ID: @maneechanresort
Description
Maneechan Resort is a popular 4-star accommodation with a top-rated reputation situated in the province of
Chanthaburi. The location of the resort is close to the city and can be accessed conveniently. Most of the
property’s common area is surrounded by tranquil beautiful gardens providing a shady atmosphere and is
most suitable for relaxation. The resort is decorated in contemporary-style architecture and offers 70 rooms
which are sizably larger than most standard hotel rooms, complete with a private balcony that gives overlooks
the garden. Additionally, the hotel also offers full facilities and several activities for guests to enjoy.
Rooms & Rates
Maneechan Resort offers five types of guestrooms as follows:
• Superior Room (40 sq.m): From THB 2,500 NET/night (Maximum 2 guests)
• Deluxe Room (50 sq.m): From THB 3,300 NET/night (Maximum 2 guests)
• Premier Triple Room (40 sq.m): From THB 3,600 NET/night (Maximum 3 guests)
• Junior Suite (50 sq.m): From THB 4,300 NET/night (Maximum 2 guests)
• Family Deluxe (50 sq.m): From THB 4,000 NET/night (Maximum 4 guests)
Facilities:
• Maneechan Kitchen, the hotel’s restaurant known for Chanthaburi’s local dishes
• Eight meeting and conference rooms, of which the largest room can accommodate 600 pax.
• Large swimming pool located in the center of the hotel
• Sport center including fitness, sauna, and stream rooms
• Spa & Massage, ranging from Thai and oil massage, foot massage, aromatherapy, and body scrub
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• Kid’s zone and playground

• Other activities such as cooking class, cake decorating class, trip to old town etc.
(2) Baan Rim Ao Resort

BAAN RIM AO
Address: 77 Moo 10 Nongbua,
Tel. (66) 81 575 8339
Website: https://www.baanrimao.com/
Facebook: facebook.com/baanrimao
IG: baanrimaoresort
Line ID: @baanrimao
Description
Located only 15 minutes from the city center, Baan Rim Ao Resort is a resort that is situated adjacent to Ao
Manao bay, Muang District, Chanthaburi Province. The resort’s distinctive feature includes scenic natural
surroundings and the beautiful view of the estuary. It is also known for its quiet and private ambiance and is
most suitable for visitors who want to escape from the hustle and bustle of the city and experience nature. The
accommodation is a 2-storey building with a total of 32 rooms, where each room is decorated in a modern style
and has a sweeping view of the sea and swimming pool. Additionally, Baan Rim Ao also has a full range of
comprehensive facilities along with recreational activities to entertain guests as well.
Rooms & Rates
Baan Rim Ao Resort consists of 32 guestrooms which are categorized into five room types:
• Deluxe Cozy (45 sq.m): From THB 2,000 NET/night (Maximum 2 guests)
• Deluxe Grand (45 sq.m): From THB 2,200 NET/night (Maximum 2 guests)
• Deluxe Pet Room (45 sq.m): From THB 2,500 NET/night (Maximum 2 guests)
• Deluxe Sea View (45 sq.m): From THB 2,800 NET/night (Maximum 2 guests)
• Deluxe Jacuzzi (45 sq.m): From THB 3,500 NET/night (Maximum 2 guests)
Facilities:
• Award-winning restaurant, Bangmanao, which serves fresh local seafood from regional fishermen
• Meeting room with 300 pax capacity & outdoor event space
• Swimming pool
• Fitness
• Other activities include biking, kayaking, and boat tours
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(3) Chaanburi Boutique Resort

CHAANBURI BOUTIQUE RESORT
Address: 1049/49 Tachalaeb Road, Talad,
Tel. (66) 92 397 4156
Website: http://chaanburiboutiqueresort.bookengine.com/
Facebook: facebook.com/Chaanburi.resort
Line ID: chaanburi
Description
Chaanburi Boutique Resort is a hotel located in Chanthaburi’s city center. Its attractiveness is derived from its
distinctive colonial and classic style buildings. The property consists of two 2-storey buildings facing each other,
with a swimming pool in the middle that runs the length of the building. There are various types of unique
rooms and a wide range of amenities to choose from. Guests will also find attractive photo ops that will allow
them to take pictures and keep as a memento of their visits.
Rooms & Rates
Chaanburi Boutique Resort features 24 guestrooms divided into two room types:
• Pool View (32 sq.m): From THB 1,900 NET/night (Maximum 2 guests)
• Pool Access (32 sq.m): From THB 2,400 NET/night (Maximum 2 guests)
Facilities:
• Prik restaurant, serving Thai and authentic Chanthaburi cuisine
• Meeting room with 80-100 pax capacity
• Swimming pool
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APPENDIX H
INDIRECT COMPETITORS OF BLUE WATER VIBE HOTEL & SERVICED
APARTMENTS
Competing in the same market segment with different geographic

location, or products and services, indirect competitors of Blue Water Vibe Hotel &
Serviced Apartments can be identified as follows:
(1) Baan Luang Rajamaitri Historical Inn
BAAN LUANG RAJAMAITRI HISTORICAL INN
Address: 252 Sukapibal Road, Watmai,
Tel. (66) 88 843 4516
Website: http://www.baanluangrajamaitri.com/
Facebook: facebook.com/baanluangrajamaitri
Line ID: @baanluangrajamaitri
Description
Baan Luang Rajamaitri Historical Inn, is a 150-year-old historical house that has been restored by the residents
of the Chantaboon waterfront community in cooperation with other agencies, whose agenda is to preserve
ancient houses within their community and develop it into becoming a contemporary accommodation that
still retains the aura of an old-fashioned house. The property consists of a 2-storey teak house next to the
waterfront. The ground floor of the building is the lobby that also doubles as a museum that features exhibits
for future generations to learn about the way of life of the waterfront community.
Rooms & Rates
Baan Luang Rajamaitri Historical Inn features 10 guestrooms as follows:
• Chan Lifestyle Room (15 sq.m): From THB 1,790 NET/night (Maximum 2 guests)
• East Asiatique Guestroom (32 sq.m): From THB 3,290 NET/night (Maximum 2 guests)
• Herbal Forest / Raja Maitri Home Rroom (17 sq.m): From THB 1,690 NET/night (Maximum 2 guests)
• Mor Tord Port Room / Red and Green Gems Room (22.5 sq.m): From THB 1,890 NET/night
(Maximum 2 guests)
• Mother’s Kitchen Room (22 sq.m): From THB 3,290 NET/night (Maximum 2 guests)
• Rubber Seed Room (23.5 sq.m): From THB 1,990 NET/night (Maximum 2 guests)
• Rubber Tree Room (22.5 sq.m): From THB 1,990 NET/night (Maximum 2 guests)
• The Masters Room (23 sq.m): From THB 3,490 NET/night (Maximum 2 guests)
Facilities:
• Waterfront terrace
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(2) Maldives Beach Resort

MALDIVES BEACH RESORT
Address: 33/2 Moo 4, Leam Sadej Beach,
Klong Kud, Tha-Mai, Chanthaburi 22000, Thailand
Tel. (66) 39 433 200-2
Website: https://www.maldiveschanthaburi.com/
Facebook: facebook.com/maldiveschanthaburi
IG: @maldiveschanthaburi
Line ID: @maldiveschan
Description
Maldives Beach Resort is an accommodation located on Chaolao-Laem Sadet Beach, Chanthaburi Province,
about 30 minutes from the city. The accommodation is decorated in a modern tropical style that expresses
the uniqueness of the tropical beach, located in a quiet, peaceful, and private atmosphere. The rooms at
Maldives Beach Resort are available in 17 room types, which are divided into 2 zones, namely the building,
and the villa zone. In addition, the property also has common areas such as cafes, bars, beachfront
restaurants, fitness center, kids club, and swimming pool, for guests to enjoy throughout their stay.
Rooms & Rates
Rooms in Maldives Beach Resort are available in 17 room types. Featured below are examples of room types
available at Maldives Beach Resort.
• Standard Room (25 sq.m): From THB 2,400 NET/night (Maximum 2 guests)
• Superior Room (28 sq.m): From THB 2,800 NET/night (Maximum 2 guests)
• Family Standard Room (40 sq.m): From THB 4,400 NET/night (Maximum 4 guests)
• Triple Sea View Room with Balcony (42 sq.m): From THB 4,800 NET/night
(Maximum 3 guests)
• Garden Villa (45 sq.m): From THB 5,500 NET/night (Maximum 2 guests)
• Beach Front Villa (72 sq.m): From THB 6,500 NET/night (Maximum 2 guests)
• Maldives Suite Room (65 sq.m): From THB 8,000 NET/night (Maximum 2 guests)
• Beachfront Paradise Suite (52 sq.m): From THB 8,500 NET/night (Maximum 2 guests
Facilities:
• The White Box, a beachfront restaurant serving Thai and seafood menus
• Maldives The Pool Bar
• Sea Bound café
• Four meeting venues enables a maximum capacity of 100 pax per venue
• Infinity Edge Pool & Kid’s Pool
• Kid’s Club
• Massage Services
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(3) Peggy’s Cove Resort

PEGGY’S COVE RESORT
Address: 44 Moo 7, Kungwiman Beach, Sanam Chai, Na Yai Am,
Chanthaburi 22000, Thailand
Tel. (66) 39 460 345
Website: https://www.peggyscoveresort.com/ Facebook:
facebook.com/peggyscoveresort
IG: @peggyscoveresort
Line ID: @peggyscove
Description
Located on Kung Wiman Beach, about 40 minutes from downtown Chanthaburi, Peggy’s Cove Resort is a
resort-style property inspired by the famous western village on Nova Scotia’s Atlantic coast. The resort offers
68 luxurious cottage-style accommodations set amongst beautiful greenery. There is a pedestrian walkway
that winds around the area, as well as, a range of facilities and activities to keep guests entertained throughout
the day.
Rooms & Rates
The resort’s 68 rooms are divided into four categories:
• Superior (35 sq.m): From THB 2,100 NET/night (Maximum 2 guests)
• Deluxe (45 sq.m): From THB 2,800 NET/night (Maximum 2 guests)
• Deluxe Pool Access (45 sq.m): From THB 3,700 NET/night (Maximum 2 guests)
• Deluxe Jacuzzi Villa (50 sq.m): From THB 3,700 NET/night (Maximum 2 guests)
• Grand Deluxe Pool Villa (60 sq.m): From THB 6,900 NET/night (Maximum 2 guests)
Facilities:
• Lighthouse Bar & Grill with menu items ranging from international to local cuisine
• Coffee Cove Café
• Swimming pool
• Activities such as biking, cooking classes for kids, and tie dyeing
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APPENDIX I
INTERVIEW QUESTIONS
A total of 10 informants were sampled in order to use the information

obtained from the interviews for analysis and planning strategies for internal
management, providing and designing services, and marketing communications that
best meet the needs of customers. The informants were equally divided into 2 groups;
5 people who stayed in hotels in Chanthaburi within the past 6 months, and 5 people
who stayed in long-term accommodations in Chanthaburi within the past 6 months.
The researcher began the interview with an introduction and informed the informant
of the details and purpose of the interview. The data were collected by means of an
in-depth interview. The information obtained from informants will be kept confidential
and presented in the form of a summary overview without disclosing any personal
information. Details of the sample questions consist of the following:
Topic Hotel Serviced Apartments

General • Questions about gender, age, nationality, education level,
information of occupation, monthly income, and hobbies
the informant
Travel behavior • How often did you have • How often did you have
of the informant the opportunity to stay in the opportunity to stay in
the hotel? the long-term
accommodation?
• What was the primary purpose of your stay?
• What was the average length of stay?
Consumer • How satisfied were you • How satisfied were you
satisfaction with the hotel that you with the long-term
had stayed in? In what accommodation that you
ways? Why? had stayed in? In what
ways? Why?
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Problems and • What problems did you • What problems did you
the consumers’ encounter during your encounter during your
actual needs recent stay at the hotel? recent stay at the long
And what improvements stay accommodation? And
would you like to see? what improvements would
you like to see?
Factors that • When choosing a hotel, • When choosing a long-
affect the what did you usually take term accommodation,
decision to use a into consideration and what did you usually take
hotel or serviced why? into consideration and
apartment why?
Room and • What features of the • What features of the
Facilities rooms were considered rooms were considered
important when selecting important when selecting
your hotel? your long-term
• What facilities/activities accommodation?
would you like to see in • What facilities/activities
your hotel? would you like to see in
your long-term
accommodation?
Price • Did the price of the rooms • Did the price of the rooms
affect your decision to stay affect your decision to stay
at the hotel? How? at the long-term
• What was the nightly price accommodation? How?
range that you usually • What was the monthly
chose? price range that you
usually chose?
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Location • How important was • How important was
location when choosing location when choosing
the hotel? the long-term
accommodation?
Distribution • Normally, through which • Normally, through which
Channels booking channel did you booking channel did you
book your hotel room, and book your long-term
why? accommodation, and why?
Communication • Where did you usually find • Where did you usually find
Channels information about hotels, information about long-
and why? term accommodations,
and why?
Promotion • What type of promotional activities or promotional offers
were most attractive to you?
Staff • How satisfied were you • How satisfied were you
with the service quality of with the service quality of
the hotel’s staff? the long-term
accommodation’s staff?
Service Quality • What enhancements to • What enhancements to
hotel services would long-term accommodation
improve your stay services would improve
experience? your stay experience?
Physical • Based on your stay experiences, which type of interior
Surroundings design and accommodation surroundings did you like the
most, and why?
Test Concept of • How likely are you to be interested in staying at Blue Water
Blue Water Vibe Vibe Hotel & Serviced Apartments, and why?
Hotel & Serviced
Apartments
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APPENDIX J
QUESTIONNAIRE
BEHAVIOR AND NEEDS OF CONSUMERS AND MARKETING MIX FACTORS
AFFECTING DECISIONS TO USE HOTEL IN CHANTHABURI
The questionnaire is a part of the Independent Study for the Master of

Business Administration Program in Global Business Management, Faculty of
Commerce and Accountancy, Thammasat University.
The questionnaire is designed to study the behavior and needs of
consumers and marketing mix factors affecting decisions to use hotel accommodation.
The information obtained is then used to analyze and apply to strategic planning and
management of the hotel business.
The information obtained by the researcher will be kept confidential, used
for analysis purposes, and presented as an overview only. Therefore, I would like to
ask you to take the time to honestly answer the questionnaire as much as possible.
This questionnaire is divided into 5 parts:
Part 1: General Information of the respondents
Part 2: Behavior in staying at hotel accommodation
Part 3: Marketing mix factors affecting hotel accommodation decisions
Part 4: Decision to stay in a hotel in Chanthaburi
Part 5: Additional suggestions or comments
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Screening Question:
1. Have you ever stayed in a hotel in Chanthaburi, Rayong, or Trat? If yes, please
choose all the provinces that you have stayed in.
❏ Chanthaburi ❏ Rayong
❏ Trat ❏ Never (End Survey)
Part I: Behavior in Staying at Hotels

Instruction: Please tick (  ) in the box which corresponds to your answers
1. How many times have you stayed in a hotel in Chanthaburi, Rayong, or Trat?
❏1 ❏2
❏3 ❏ 4 or More
2. What was your average length of stay in a hotel?
❏ 1 Day ❏ 2 Days ❏ 3 Days
❏ 4-6 Days ❏ 7 Days or More
3. What was the primary purpose of your stay?
❏ Vacation ❏ Visit Friends/ Relatives
❏ Business ❏ Meeting/ Conference/ Exhibition
❏ Medical purposes ❏ Other (please specify) _____________
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4. Did you have any accompany?

❏ Alone ❏ Family and/or Relatives
❏ Partner/ Spouse ❏ Friends
❏ Colleagues ❏ Other (please specify) _____________
5. Which information sources did you use when deciding which hotel to stay? (You
may choose more than one choice)
❏ Search Engine ❏ Official Website
❏ Online Travel Agencies ❏ Offline Travel Agencies
❏ Print Advertising ❏ Television
❏ Salesperson ❏ Travel Websites/ Blogs
❏ Social Media ❏ Friends and Family
❏ Other (please specify) _____________
6 How did you book your hotel?
❏ Direct with Hotel ❏ Hotel Website
❏ Online Travel Agencies ❏ Offline Travel Agencies
❏ Other (please specify)_____________
7. On average, how much did you spend on a hotel room per night?
❏ Below 1,500 Baht ❏ 1,500 – 3,000 Baht
❏ 3,001 – 6,000 Baht ❏ 6,001 – 10,000 Baht
❏ 10,001 – 15,000 Baht ❏ 15,001 – 30,000 Baht
❏ Above 30,001 Baht
8. Please choose the five most important services or facilities that you would like to
see included in your guestroom.
❏ Bluetooth speaker ❏ Smart TV with cable channels
❏ Living area ❏ Tea/ coffee making facilities
❏ Working desk ❏ Wi-Fi and LAN internet connection
❏ Kitchenette ❏ Washing machine & dryer
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❏ Iron and ironing board ❏ Safety deposit box

❏ Bathtub ❏ Breakfast service
see offered in your hotel.
❏ Swimming pool/ Fitness ❏ Conference Room
❏ Restaurant and bar ❏ Elevator
❏ 24-hour reception ❏ Room service
❏ Spa & massage services ❏ Laundry service
❏ Shuttle service ❏ Hotel activities
❏ Disabled facility ❏ Pet allowance
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Part II: Marketing Mix Factors Affecting Hotel Decisions

Instruction: Please tick (  ) in the box which corresponds to your answers. Note that
items rated on a five-point scale, where 1 means not important at all and 5 means
very important.
Level of Importance
Marketing Mix Factors (7Ps)
1 2 3 4 5
1. Product
1.1.1 Cleanliness
1.1.2 Comfort and Quality
1.1.3 Facilities
1.1.4 Image and reputation
1.1.5 Review score
2. Price
2.1 Lower prices compared to competitors
2.2 Prices are value for money
3. Place
3.1 Distribution Channels
3.1.1 Easy to contact and find information
3.1.2 Multiple booking channels
3.2 Location
3.2.1 Easy to access location
3.2.2 Close to workplace/ major tourist attractions
3.3.3 Close to restaurants and shopping center
4. Promotion
4.1 Travel agent/ blogger recommendations
4.2 Packages and discounts
4.3 Cooperation with alliances for special offers
4.4 Membership benefits
5. Staff
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Level of Importance
1 2 3 4 5
5.1 Multi-lingual skill of staff
5.2 Courtesy and friendliness of staff
5.3 Attentiveness and responsiveness of staff
5.4 Product knowledge of staff
6. Service Process
6.1 Fast and accurate customer service
6.2 Safe and multiple payment methods
6.3 Flexible cancellation policies
6.4 Contactless check-in and check out
6.5 Implantation of COVID-19 health & safety measures
7. Physical Surroundings
7.1 Ambience and privacy
7.2 Scenery
7.3 Design and decoration
7.4 Safety & security system (e.g. CCTV and fire alarms)
Part III: Decision to Stay in a Hotel
items rated on a five-point scale, where 1 means strongly disagree and 5 means
strongly agree.
Agreeable Level
Decision
1 2 3 4 5
1. I am willing to recommend my satisfied hotel to
others
2. I prefer to stay in a hotel over other types of
accommodation
3. I will revisit my satisfied hotel in the future
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Part IV: Additional suggestions or comments

………………………………………………………………………………………………………………………………………………
………………………………………………………………………………………………………………………………………………
Part V: General Information of the Respondents

1. Gender
❏ Male ❏ Female ❏ Others
2. Age
❏ Under 20 ❏ 21 – 30 years ❏ 31 – 40 years
❏ 41 – 50 years ❏ 51 – 60 years ❏ Over 60
3. Education
❏ Under Bachelor Degree ❏ Bachelor Degree or Equivalent
❏ Higher than Bachelor Degree
4. Marital Status
❏ Single ❏ Married
❏ Divorced/ Widowed/ Separated
5. Nationality
❏ Thai ❏ South East Asian ❏ Chinese
❏ Asian ❏ European ❏ Africa
❏ North American ❏ South American ❏ Middle East
❏ Australia ❏ Other (please specify) _____________
6. Occupation
❏ Corporate Employee ❏ Government/ State Enterprise Officer
❏ Entrepreneur ❏ Self-Employed/ Freelance
❏ Student ❏ Retired
❏ Unemployed ❏ Other (please specify) _____________
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7. Monthly Income
❏ Below 15,000 Baht ❏ 15,001 – 30,000 Baht
❏ 30,001 – 50,000 Baht ❏ 50,001 – 75,000 Baht
❏ 75,001 – 100,000 Baht ❏ Above 100,000 Baht
* Thank you for taking the time to complete this survey.

Your time and feedback are greatly appreciated. *
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APPENDIX K
QUESTIONNAIRE
BEHAVIOR AND NEEDS OF CONSUMERS AND MARKETING MIX FACTORS
AFFECTING DECISIONS TO USE LONG-TERM ACCOMMODATIONS
IN CHANTHABURI
The questionnaire is a part of the Independent Study for the Master of

Business Administration Program in Global Business Management, Faculty of
Commerce and Accountancy, Thammasat University.
The questionnaire is designed to study the behavior and needs of
consumers and marketing mix factors affecting decisions to use long-term
accommodations. The information obtained is then used to analyze and apply to
strategic planning and management of the serviced apartment business.
The information obtained by the researcher will be kept confidential, used
for analysis purposes, and presented as an overview only. Therefore, I would like to
ask you to take the time to honestly answer the questionnaire as much as possible.
This questionnaire is divided into 5 parts:
Part 1: General Information of the respondents
Part 2: Behavior in staying at long-term accommodations
Part 3: Marketing mix factors affecting long-term accommodation decisions
Part 4: Decision to stay in a long-term accommodation in Chanthaburi
Part 5: Additional suggestions or comments
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Screening Question:
1. Have you ever stayed in a long-term accommodation in Chanthaburi, Rayong, or
Trat? If yes, please choose all the provinces that you have stayed in.
❏ Chanthaburi ❏ Rayong
❏ Trat ❏ Never (End Survey)
Part I: Behavior in Staying at Long-Term Accommodation

1. How many times have you stayed in a long-term accommodation?

❏1 ❏2
❏3 ❏ 4 or More
2. What type of long-term accommodation that you have stayed in?
❏ Rental House ❏ Apartment
❏ Serviced Apartment ❏ Condominium
3. What was your average length of stay in a long-term accommodation?
❏ 1 Month ❏ 2-3 Months
❏ 3-6 Months ❏ 6-12 Months
❏ More Than 1 Year
4. What was the primary purpose of your stay?

❏ Vacation ❏ Visit Friends/ Relatives
❏ Business ❏ Meeting/ Conference/ Exhibition
❏ Medical purposes ❏ Other (please specify) _____________
5. Did you have any accompany?
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❏ Alone ❏ Family and/or Relatives

❏ Partner/ Spouse ❏ Friends
❏ Colleagues ❏ Other (please specify) _____________
6. Which information sources did you use when deciding which long-term
accommodation to stay? (You may choose more than one choice)
❏ Search Engine ❏ Official Website
❏ Online Estate Agencies ❏ Offline Estate Agencies
❏ Print Advertising ❏ Television
❏ Salesperson ❏ Social Media
❏ Friends and Family ❏ Other (please specify) _____________
7. How did you book your long-term accommodation?
❏ Direct Reservation ❏ Official Website
❏ Online Estate Agencies ❏ Offline Estate Agencies
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8. On average, how much was your monthly rent payment?

❏ Below 8,000 Baht ❏ 8,001 – 10,000 Baht
❏ 10,001 – 15,000 Baht ❏ 15,001 – 20,000 Baht
❏ 20,001 – 30,000 Baht ❏ Above 30,000 Baht
see included in your room.
❏ Bluetooth Speaker ❏ Smart TV with cable channels
❏ Living area ❏ Tea/ coffee making facilities
❏ Working desk ❏ Wi-Fi and LAN internet connection
❏ Kitchenette ❏ Washing machine & dryer
❏ Iron and ironing board ❏ Safety deposit box
❏ Bathtub ❏ Breakfast service
❏ Cleaning service ❏ Other (please specify) _____________
10. Please choose the five most important services or facilities that you would like
to see offered in your long-term accommodation.
❏ Swimming pool/ Fitness ❏ Conference room
❏ Restaurant and bar ❏ Elevator
❏ 24-hour reception ❏ Room service
❏ Spa & massage services ❏ Laundry service
❏ Shuttle service ❏ Resident Activities
❏ Disabled facility ❏ Pet allowance
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Part II: Marketing Mix Factors Affecting Long-Term Accommodation Decisions

items rated on a five-point scale, where 1 means not important at all and 5 means
very important.
Level of Importance
1 2 3 4 5
1. Product
1.1.1 Cleanliness
1.1.2 Comfort and Quality
1.1.3 Facilities
1.1.4 Image and reputation
1.1.5 Review score
2. Price
2.1 Lower prices compared to competitors
2.2 Prices are value for money
3. Place
3.1 Distribution Channels
3.1.1 Easy to contact and find information
3.1.2 Multiple booking channels
3.2 Location
3.2.1 Easy to access location
3.2.2 Close to workplace/ major tourist attractions
3.3.3 Close to restaurants and shopping center
4. Promotion
4.1 Estate agent recommendations
4.2 Packages and discounts
4.3 Cooperation with alliances for special offers
4.4 Membership benefits
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5. Staff
5.1 Multi-lingual skill of staff
5.2 Courtesy and friendliness of staff
5.3 Attentiveness and responsiveness of staff
5.4 Product knowledge of staff
6. Service Process
6.1 Fast and accurate customer service
6.2 Safe and multiple payment methods
6.3 Flexible cancellation policies
6.4 Contactless technology
6.5 Implement COVID-19 health & safety measures
7. Physical Surroundings
7.1 Ambience and privacy
7.2 Scenery
7.3 Design and decoration
7.4 Safety & security system (e.g. CCTV and fire alarms)
Part III: Decision to Stay in a Long-Term Accommodation

items rated on a five-point scale, where 1 means strongly disagree and 5 means
strongly agree.
Agreeable Level
Decision
1 2 3 4 5
1. I am willing to recommend my satisfied long-term
accommodation to others
2. I prefer staying in the current type of accommodation
over other types of accommodation
3. I will revisit my satisfied long-term accommodation in
the future
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Part IV: Additional suggestions or comments

………………………………………………………………………………………………………………………………………………
………………………………………………………………………………………………………………………………………………
Part V: General Information of the Respondents
8. Gender
❏ Male ❏ Female ❏ Others
9. Age
❏ Under 20 ❏ 21 – 30 years ❏ 31 – 40 years
❏ 41 – 50 years ❏ 51 – 60 years ❏ Over 60
10. Education
❏ Under Bachelor Degree ❏ Bachelor Degree or Equivalent
❏ Higher than Bachelor Degree
11. Nationality
❏ Thai ❏ South East Asian ❏ Chinese
❏ Asian ❏ European ❏ Africa
❏ North American ❏ South American ❏ Middle East
❏ Australia ❏ Other (please specify) _____________
12. Occupation
❏ Corporate Employee ❏ Government/ State Enterprise Officer
❏ Entrepreneur ❏ Self-Employed/ Freelance
❏ Student ❏ Retired
❏ Unemployed ❏ Other (please specify) _____________
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13. Monthly Income

❏ Below 15,000 Baht ❏ 15,001 – 30,000 Baht
❏ 30,001 – 50,000 Baht ❏ 50,001 – 75,000 Baht
❏ 75,001 – 100,000 Baht ❏ Above 100,000 Baht
* Thank you for taking the time to complete this survey.

Your time and feedback are greatly appreciated. *
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APPENDIX L
DETAILS OF THE INFORMANTS
Customers who stayed in hotels in Chanthaburi within the past 6

months
(1) A female informant between the ages of 21 and 30, with a
postgraduate degree, working in a private company in Bangkok, earns between 50,001
and 75,000 baht per month. Her hobby requires her to travel both domestically and
internationally more than ten times a year on average. If traveling within the country,
mostly prefer to travel during the weekend by plane or private car. She usually
travels in groups of friends or family and prefers to stay in a beautiful atmosphere
with unique decorations and close proximity to tourist attractions.
(2) A female informant between the ages of 51 and 60, with a
postgraduate degree, and who is currently employed by a private company in
Rayong province with a monthly income of 100,000 baht or more. Her hobbies
included planting trees, reading books, and traveling three to four times a year, both
domestically and internationally. Weekends are sometimes spent touring the country
with couple in private car, mostly in temples, and museums, and prefer
accommodation that are clean, safe, natural, and close to tourist attractions. The
reason for traveling to Chanthaburi province is to pay a visit to relatives.
(3) A male informant is between the ages of 31 and 40, with a
postgraduate degree, and is currently employed by a private company in Bangkok.
His monthly income ranges between 75,001 and 100,000 baht. The purpose of
traveling to Chanthaburi is to conduct business with the company. On average, he
travels to Chanthaburi 2-3 times a year, either alone or with colleagues and
supervisors. He will choose a hotel with high-quality rooms and attentive service, as
well as a beautiful atmosphere and decoration. The location must also be close to
the company.
(4) A female informant between the ages of 31 and 40, graduated with a
bachelor's degree and is currently employed by a private company in Bangkok,
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earning between 30,001 and 50,000 baht per month. Her hobby interests include
cooking, tree planting, and travel, with an average of 4–5 trips upcountry per year
with a partner or group of friends, on weekdays and weekends by private car.
Preference is for accommodations with a beautiful atmosphere, unique decorations,
and a corner for taking pictures.
(5) A male informant is between the ages of 41 and 50, has a bachelor's
degree, and is currently running a private business with a monthly revenue of
100,000 baht or more. The purpose of traveling to Chanthaburi is to conduct
business with his customers. He travels on average 2-3 times a year to Chanthaburi
and prefers to stay in a hotel with high-quality rooms and excellent service that is
close to business locations and amenities.
Customers who stayed in long-term accommodations in Chanthaburi

within the past 6 months
1. A male informant between the ages of 51 and 60, graduated with a
postgraduate degree and is currently employed by a private company operating a
fruit transportation business in Chanthaburi province with a monthly income of
100,000 baht or more. The purpose of traveling to Chanthaburi is to relocate,
according to the company. He has been living alone in a condominium for more than
a year and has no set period to return. The most important factors in selecting long-
term accommodation that it has a pleasant atmosphere, is secure, is fully furnished,
and is ready to move in.
2. A male informant between the ages of 31 and 40, has a postgraduate
degree, and is currently employed by a private company in Bangkok. They earn
between 75,001 and 100,000 baht per month. The purpose of traveling to
Chanthaburi is to establish a system for a new branch office in the province of
Chanthaburi. He has been living alone in a condominium for more than four months
and is expected to return in the next two months. Factors that led him to choose
this place were good weather, good room quality, close proximity to work, and
staying within the company's budget.
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3. A female informant between the ages of 31 and 40, graduated with a

postgraduate degree, and is currently employed by a private company in Bangkok.
Her monthly income ranges between 75,001 and 100,000 baht. The purpose of the
trip to Chanthaburi is to audit the branch offices, which will be done while staying in
a hotel with colleagues in separated rooms. The duration of stay is one month, with
the option of selecting accommodation based on the room's condition and the
surrounding beauty and preferred amenities such as complete appliances and
amenities ready to move in, as well as a convenient location close to work, all within
the company's budget.
4. A female informant between the ages of 51 and 60, graduated with a
postgraduate degree and is currently employed in government service with a
monthly income of between 75,001 and 100,000 baht. The purpose of traveling to
Chanthaburi is to work in the assigned position for a minimum of two years. She is
currently living alone in a condominium with her family visiting on a regular basis and
that is accommodation from the security system, as well as the atmosphere and
quality of the accommodation.
5. A male Chinese informant between the ages of 31 and 40, a graduate
of a bachelor's degree, and a current entrepreneur in the fruit transportation
business. The monthly income is 100,000 baht or more, and the purpose of the trip
to Chanthaburi is to conduct fruit business with local orchards. They are in a period
of approximately four months preceding the continuation of their business trip in
southern Thailand and select accommodation based on its comfort and location.
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APPENDIX M
QUALITATIVE RESEARCH RESULTS
(1) Travel behavior and choice of accommodation in Chanthaburi

From interviews conducted with the sample group regarding the purpose
of staying in hotels in Chanthaburi, it was found that most of them came for tourism
or work purposes. Leisure visitors would, on most occasions, travel with their
companions, friends, or family, and stay an average of 1-2 nights on Friday and
Saturday. Thereafter, they may also travel further to nearby provinces, such as Trat.
While those who come to visit for work purposes would usually travel alone and stay
an average of 2 nights during weekdays. The interview also found that the visitors who
came for work purposes had a more frequent hotel occupancy in Chanthaburi than
the leisure group, i.e. averaging 2-3 times per year as compared to about once a year.
In interviews with the group of visitors using long-term accommodation in
Chanthaburi within the past 6 months, it was found that the purpose of using long-
term accommodation in Chanthaburi is mostly for work purposes. Most of the sample
interviewed included people who were relocated to Chanthaburi and those who were
assigned to work on short projects within Chanthaburi. The length of stay, therefore,
ranges from one month to more than one year. Those who work on short-term projects
would with colleagues but stay in separate rooms, while those who were relocated
both lived alone and with their families. Moreover, visitors, who are relocated to
Chanthaburi usually are based for an indefinite period of time, they, therefore, chose
to rent housing instead of buying it permanently.
(2) Consumer satisfaction with the hotels or long-term accommodations
used in Chanthaburi
Overall, the sample group who had stayed at a hotel in Chanthaburi were
satisfied with the hotel they chose to use. The most satisfying aspects were cleanliness,
friendliness, and the attentiveness of the staff. The appearance of the hotel is as
advertised and is reasonable for the price paid.
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For those who have used long-term accommodation in Chanthaburi,

overall, the sample group was satisfied with the selected long-term accommodation.
They were most satisfied in terms of the convenient location, where it was located
within the vicinity of their workplaces and various facilities. The pleasant weather and
a strong security system were also cited among the factors that they liked.
(3) Problems and the users’ actual needs of their hotel or long-term
accommodation stay in Chanthaburi
The problems encountered by the sample group who had stayed in hotels
in Chanthaburi, include noises from nearby rooms making it difficult to get a good
night’s rest, the condition of the room was not as advertised, limited breakfast options,
as well as, the hotel not having an elevator which makes inconvenient for elderlies.
As for the group of visitors using long-term accommodation in Chanthaburi,
it was found that the most common problem includes the walls of the room not being
soundproof which makes it possible to hear noises from neighboring rooms. In addition,
there was also the issue of insufficient parking which resulted in the residents having
to park on public roads. The sample group also encountered problems with sub-
standard materials that were used in construction and room decoration that was not
of high quality and were easily damaged.
(4) Marketing mix factors that affect the decision to use a hotel or long-
term accommodation in Chanthaburi
• Room and Facilities
The sample group who had stayed at hotels in Chanthaburi, both for
leisure and work-related, would focus on cleanliness and room quality the most, as
well as, having an appropriate room size, i.e. not too cramped. In addition, the reviews
of those who have stayed at these facilities, as well as breakfast options are also
considered to be a secondary deciding factor.
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In terms of rooms and facilities for those who have used long-term
accommodation in Chanthaburi, it was found that this sample group would focus on
the quality of the rooms and having a complete set of facilities so that they can move
in immediately. As the nature of the accommodation of this sample group is based on
stays on a temporary basis, therefore, the sample group did not want to buy additional
appliances or furniture. In addition, having facilities such as fitness centers, swimming
pools, and parking spaces are also another deciding factor that facilitates their decision
to stay.
• Price
Almost everyone in the sample group who has stayed at hotels in
Chanthaburi commented that price plays an important role in their decision to stay in
a hotel. Tourists tend to stay in hotels with an average price of 3,000 baht, but in some
cases may be willing to pay a higher price if the property or room is located amidst a
beautiful natural surrounding or includes any other special features that make it worth
the price that they have to pay. On the other hand, those who travel for work purposes
often choose hotels that cost 1,500-3,000 baht per night as they have to stay within
the budget set by the company.
The sample group who have used long-term accommodation in
Chanthaburi believe that the price of the room must be appropriate for the quality
and service received. This group usually prefers to stay in long-term accommodation
with an average monthly rent of 10,000-12,000 baht for single occupancy, and 20,000
baht for family occupants. However, these target groups are ready to consider more
expensive options if the options or services offered are of higher quality.
• Location
Everybody in the sample group who had stayed at hotels in Chanthaburi
all agreed that location plays an important role in their decision to stay in a hotel. The
tourist groups tend to choose hotels that are close to major tourist attractions or close
to beautiful natural settings, while those traveling for business purposes often choose
hotels close to their workplaces or in the city that are close to amenities.
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The sample groups who have used long-term accommodation in

Chanthaburi also have the same opinion and would usually choose accommodations
that are close to their workplace, as well as, various other facilities such as shopping
malls, restaurants, and hospitals, etc.
• Communication and Distribution Channels
Most of the informants who had stayed at hotels in Chanthaburi had
planned and searched for accommodation in advance through search engines and
OTAs. These informants preferred to search for hotels in OTAs as they contain
complete information and filtering capabilities. Additionally, searches can make price
comparisons and review the scores of each hotel conveniently and quickly. These
informants often compare prices across every channel, which includes OTAs, hotel
websites, and direct bookings, and eventually choose to book with the channel that
offers the best deal.
From interviews with people who have used long-term accommodation in
Chanthaburi province, it was found that most of the respondents searched for
accommodation from search engines or real estate listings/leasing websites such as
DDproperty, RentHub, and contacted the property directly to request a tour of the
property, before making a decision to book directly with the property.
However, some informants who stayed in hotels and long-term residences
also explored accommodation information from their colleagues or a branch office
located in Chanthaburi, and then choose to book directly or book with the property’s
salesperson due to the company’s exclusive deal.
• Promotion
The sample group of visitors who travel and use hotels in Chanthaburi also
pay attention to hotels with room discounts or value room packages, whereas visitors
on business trips would focus on hotels with discounts or privileges offered to repeat
customers.
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Meanwhile, the sample group of visitors who have used long-term

accommodation in Chanthaburi views that promotional activities do not affect their
decision to stay for an extended period, but it would be nice if accommodations would
offer discounts or special privileges for long-term tenants.
• Service Staff
From interviews, it was found that the satisfaction level of the sample
group of visitors who stayed at hotels and long-term accommodation in Chanthaburi,
with the service of the staff was found to be moderate to high. The aspect that the
informants felt satisfied with was their enthusiasm, and politeness in providing
information and answering questions at the time of booking which was the informant's
first impression of the staff. While using the service, smiling staff, attentiveness, greeting,
talking, and asking for feedback, were among the factors that the informants enjoyed
the most. Moreover, greeting their guests by name was also another outstanding
feature that impressed the visitors as it made them feel more special at that property
than any other.
• Service Process
From the interviews, it was also found that the groups of visitors who have
used hotels in Chanthaburi are satisfied with the service process of the hotels they
have stayed at and will feel much more confident if the hotel has also implemented
clearly visible COVID-19 protection measures. If the hotel is also able to display a SHA+
certification symbol, it will definitely enhance confidence and the hotel's good image.
Meanwhile, informants who have used long-term accommodation in
Chanthaburi would prefer to have more flexible rental contract terms. Because in the
past, if residents did not complete a 1-year contract, they would have to lose up to 3
months of their deposit. In addition, long-term accommodation residents who lived
alone would also like to have a cleaning service included in the room service. They
also want the property to have a laundry service in the area because currently, they
have to send their laundry for cleaning outside the premises, which is rather
inconvenient.
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• Physical Surroundings
Everyone in the group of informants who used to stay at hotels and those
who have used long-term accommodation in Chanthaburi agreed that the atmosphere
of the surrounding area is more important than the building structure. These
respondents prefer accommodations that are close to nature, pleasant weather, and
a beautiful surrounding atmosphere. As for the interior, if done well, it is considered a
positive factor in choosing a place to stay. The décor of the accommodations that
most guests preferred was warm and contemporary. Additionally, the respondents also
pay attention to the property’s security system. They view that the hotel or
accommodation should have standard security such as security guards, CCTV systems,
and alarm systems in case of fires. There should also be sufficient lighting in the
common areas and around the building.
From interviews of the sample groups, it was found that the group who
had stayed at a hotel in Chanthaburi decided to use the property by taking into
account the atmosphere and environment of the accommodation, location, price, and
decorative designs, as the first priority. While the group who had used long-term
accommodation in Chanthaburi will choose accommodation based on the
accommodation environment, location, safety, comfort, and room quality.
(5) Feedback of Blue Water Vibe Hotel & Serviced Apartments and trends
in their use of the service
The sample group who used to stay in hotels in Chanthaburi has shown
interest in using the services of Blue Water Vibe Hotel & Serviced Apartments for both
single and family rooms. They like rooms that have a living area, as well as, a kitchen,
that is separated from the bedrooms. This allows them to sit, relax, or socialize with
family or friends. Moreover, the location of the property is situated along the
Chanthaburi River which can be accessed easily.
Respondents who have used long-term accommodations in Chanthaburi

think that the Blue Water Vibe Hotel & Serviced Apartments should be an interesting
accommodation option in the future due to its comprehensive facilities. Additionally,
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cleaning service is also included in the room rate which makes it especially convenient
for single occupants. The property is also a good accommodation option for short or
extended stays or stays as the lease term is shorter than other condominiums or
apartments. There is also the availability of a wide range of services similar to hotels
but at a lower price. Overall, the respondents who had used this long-term
accommodation were more likely to be interested in using Blue Water Vibe Hotel &
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APPENDIX N
BEHAVIOR IN STAYING AT HOTELS AND LONG-TERM ACCOMMODATIONS
Behavior in Staying at Hotels

(1) Average Length of Stay in a Hotel
Average Length of Stay in a Hotel

4-6 Days 7 Days or More
4% 3% 1 Days
3 Days 10%
16%
2 Days
67%
(2) Main Purposes of Staying at the Hotels
Main Purposes of Staying at the Hotels

Medical Purposes
Meeting/ 3%
Conference/
Exhibition
25% Vacation
38%
Business Visit Friends/

Relatives
10% 24%
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(3) Accompany During Hotel Stays
Accompany During Hotel Stays

Colleagues Alone
11% 16%
Friends
19%
Family and/or
Partner/ Spouse Relatives
19% 35%
(4) Sources that Were Used to Search for Hotel Information in

Order to Make a Decision
Sources that Were Used to Search for

Hotel Information
Friends and Family 9
Social Media 40
Travel Websites/ Blogs 50
Salesperson 55
Television 62
Print Advertising 73
Offline Travel Agencies 82
Online Travel Agencies 150
Official Website 144
Search Engine 84
0 20 40 60 80 100 120 140 160
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(5) Frequently Used Channels to Make Hotel Bookings

Frequently Used Channels to Make
Offline Travel Hotel Bookings
Agencies
4% Direct with Hotel
31%
Online Travel
Agencies
41%
Hotel Website
24%
(6) Average Nightly Accommodation Rates of Selected Hotels

Average Nightly Accommodation Rates
10,001 – 15,000 Baht of Selected Hotels 15,001 – 30,000 Baht
4% 2%
Below 1,500 Baht
6,001 – 10,000 Baht
12%
14%
1,500 – 3,000
Baht
3,001 – 6,000 34%
Baht
34%
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(7) Amenities or Services that Would Like to See in the Room
Amenities or Services that

Would Like to See in the Room
Excrusions 1
Breakfast service 111
Bathtub 83
Safety deposit box 50
Iron and ironing board 77
Washing machine & dryer 70
Kitchenette 90
Wi-Fi and LAN internet connection 134
Working desk 85
Tea/ coffee making facilities 153
Living area 63
Smart TV with cable channels 101
Bluetooth speaker 91
0 20 40 60 80 100 120 140 160 180
(8) Amenities or Services that Would Like to See in the hotel

Would Like to See in the Hotel
Pet allowance 20
Disabled facility 35
Hotel activities 53
Shuttle service 68
Laundry service 100
Spa & massage services 154
Room service 141
24-hour reception 172
Elevator 68
Restaurant and bar 140
Conference Room 48
Swimming pool/ Fitness 109
0 20 40 60 80 100 120 140 160 180 200
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Behavior in Staying at Long-Term Accommodations

(1) Average Length of Stay in a Long-Term Accommodation
Average Length of Stay in a Long-Term

Accommodation More Than 1 Year
3-6 Months 4%
13%
1 Month
46%
2-3 Months
37%
(2) Main Purposes of a Long-Term Stay
Main Purposes of a Long-Term Stay

Meeting/
Conference/ Medical Purposes Vacation
Exhibition 3%
16%
17%
Visit Friends/
Relatives
21%
Business
43%
(3) Accompany During Long-Term Stays
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Accompany During Long-Term Stays

Colleagues
Friends 9%
4%
Partner/ Spouse
Alone
14%
42%
Family and/or
Relatives
31%
(4) Sources that Were Used to Search for Long-Term

Accommodation Information in Order to Make a Decision
Sources that Were Used to Search for
Long-Term Accommodation Information
Friends and Family 20
Social Media 61
Salesperson 45
Television 49
Print Advertising 80
Offline Estate Agencies 90
Online Estate Agencies 103
Official Website 146
Search Engine 63
0 20 40 60 80 100 120 140 160
(5) Frequently Used Channels Used to Make Long-Term

Accommodation Bookings
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Frequently Used Channels Used to Make

Long-Term Accommodation Bookings
Online Estate
Offline Estate Agencies
Agencies 1%
2%
Direct with Hotel

Official Website 55%
42%
(6) Average Monthly Rates for Long-Term Accommodation

Average Monthly Rates for Long-Term
20,001 – 30,000 Baht Accommodation Above 30,000 Baht
1% 2%
15,001 – 20,000 Baht Below 8,000 Baht

10% 16%
10,001 – 15,000 Baht

8,001 – 10,000 Baht
32%
39%
(7) Amenities or Services that Would Like to See in the Room
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Would Like to See in the Room
Cleaning service 40
Breakfast service 42
Bathtub 30
Safety deposit box 38
Iron and ironing board 95
Washing machine & dryer 94
Kitchenette 89
Wi-Fi and LAN internet connection 81
Working desk 103
Tea/ coffee making facilities 130
Living area 77
Smart TV with cable channels 103
Bluetooth speaker 88
0 20 40 60 80 100 120 140
(8) Amenities or Services that Would Like to See in the

Long-Term Accommodation
Amenities or Services that Would Like to See in
the Long-Term Accommodation
Pet allowance 16
Disabled facility 27
Resident Activities 28
Shuttle service 91
Laundry service 101
Spa & massage services 90
Room service 73
24-hour reception 135
Elevator 75
Restaurant and bar 81
Conference Room 87
Fitness 117
Swimming pool 89
0 20 40 60 80 100 120 140 160
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APPENDIX O
BLUE WATER VIBE HOTEL & SERVICED APARTMENTS RATE STRUCTURE
World Wide Market Structure – Non Thai Residence

Peak
Season
(01 Dec - 31 May) (01 Jun - 30 Nov)
(28 Dec - 03 Jan/
Superior 1,750 1,750 1,900 1,900 2,900

Deluxe 1,900 1,900 2,100 2,100 3,100
Premier 2,400 2,400 2,600 2,600 3,600
Jacuzzi Suite 2,900 2,900 3,100 3,100 4,100
Family Suite 4,700 4,700 4,900 4,900 5,900
Lower Flat Rate – Thai & Non Thai Residence

Peak
Season
(01 Dec - 31 May) (01 Jun - 30 Nov)
(28 Dec - 03 Jan/
Superior 1,350 1,450 1,500 1,600 2,600

Deluxe 1,500 1,600 1,700 1,800 2,800
Premier 2,000 2,100 2,200 2,300 3,300
Jacuzzi Suite 2,500 2,600 2,700 2,800 3,800
Family Suite 4,300 4,400 4,500 4,600 5,600
Corporate Rate and MICE
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Peak
Season
(01 Dec - 31 May) (01 Jun - 30 Nov)
(28 Dec - 03 Jan/
Superior 1,500 2,500

Deluxe 1,600 2,600
Premier 2,000 3,000
Jacuzzi Suite 2,600 3,600
Family Suite 4,300 5,300
Family River Suite 4,600 5,600
Government Rate
Peak
Season
(01 Dec - 31 May) (01 Jun - 30 Nov)
(28 Dec - 03 Jan/
Superior 1,400 2,400

Deluxe 1,500 2,500
Premier 1,900 2,900
Jacuzzi Suite 2,500 3,500
Family Suite 4,200 5,200
Family River Suite 4,500 5,500
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APPENDIX P
ESTIMATED MARKETING EXPENSES OF BLUE WATER VIBE
HOTEL & SERVICED APARTMENTS
1st Year 2nd Year 3rd Year 4th Year 5th Year
Advertising
• Website 3,000 - - - -
• Online Agencies 157,000 - - - -
• Social Media 42,000 42,000 - - -
• Google Ads 6,000 - - - -
• Magazine - - - - -
• Television - - - - -
Personal Selling - - - - -
Direct Marketing - - - - -
Influencer Marketing 60,000 30,000 30,000 30,000 30,000
Public Relations 13,000 3,000 3,000 3,000 3,000
Sales Promotion
• Seasonal Promotions - - - - -
• Flash Sales - - - - -
• Partner Rewards - - - - -
• Long Stay Promotions - - - - -
Referral Program - - - - -
Customer loyalty program 14,532 15,723 16,772 17,962 19,166
Total 295,532 90,723 49,772 50,962 52,166
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APPENDIX Q
ORGANIZATIONAL STRUCTURE OF BLUE WATER VIBE HOTEL & SERVICED APARTMENTS
Shareholders
General Manager
Accounting &
Human Resources Housekeeping Kitchen Front Office Food & Beverage Sales Department Engineering
Finance
Ass. Housekeeping Front Office Engineering

HR Supervisor Chief Accountant Sous-Chef Ass. F&B Manager Sales Executive
Manager Manager Supervisor
Housekeeping Front Office Sales

Chief Security Income Auditor Chef de Partie F&B Supervisor Technician
Supervisor Supervisor Coordinator
Accounts Housekeeping Guest Service

Security Guard Commis Bartender
Payable Attendant Agent
Purchasing & Public Area Concierge/

Steward F&B Server
Store Officer Attendant Bellboy
Laundry
Attendant
Gardener
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APPENDIX R
BLUE WATER VIBE HOTEL & SERVICED APARTMENTS
EMPLOYEES’ WELFARE BENEFITS
Subject Description
Leave Policy
Day Off • General Manager & Back Office: 6 days off per month
• Operational Staff: 4 days off per month
Public Holiday • All staff are entitled to 15 paid public holidays.
• Staff who are rostered to work on a public holiday will be granted one day
leave in-lieu of the public holiday.
Annual Leave • All staff who has completed probation are entitled to a minimum of 7
days paid annual leave.
Sick Leave • Staff is entitled to take sick leave as per requested and the company will
pay wages in the same rate as the normal working day not exceeding 30
days per year.
Maternity Leave • A female staff who is pregnant is entitled to maternity leave of not
exceeding 90 calendar days and will received the wages during her leave
but not exceeding 45 days.
Military Leave • Military leave (for checking, military training, or exercises) will be in
accordance with number of days specified by the military, but not
exceeding sixty days per year with pay.
Ordination Leave • Company allows male staff to take leave for ordination or to seek merit
for a maximum of fifteen days with pay during the employment.
Sterilization Leave • The staff will get pay as a normal working day.
Compassionate • Every full-time staff is entitled to:
Leave - A maximum of 3 working days of compassionate leave on the death
of an immediate family member: father, mother, child, or spouse.
- A maximum of 2 working days in case of grandfather, grandmother,
brother, sister and father or mother-in-law.
Marriage Leave • All staff who has completed probation will be eligible for 3 consecutive
working days marriage leave on his/ her first legal marriage.
Benefits & Welfare
Annual Bonus • Company will provide an annual bonus depending on the company’s
performance, staff individual performance and management discretion.
• The annual bonus date will normally be in April each year.
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Subject Description
Annual Increment • The Company adopts a pay for performance policy. The quantum of
increment will be determined by the management based on the
performance of the company and of the individual staff.
• The annual increment date will normally be in January each year.
Overtime Payment • The overtime payment is paid by day off compensation The rate of
overtime payment will be calculated according to the Thai labor law (1.5
times the normal working hour).
• Only non-supervisory staff are eligible for overtime pay.
Staff Meal • Company provides free meal for staff in the staff canteen during
mealtimes.
• Lunch is served every day in the staff canteen from 11.00am -13.00pm
and dinner 16.00pm -18.00pm
Staff Uniforms • Staff who is required to wear uniforms will be issued with three sets of the
uniforms.
Staff Discount on • Staff rate will be calculated from best available rate of Blue Water Vibe
Accommodation Hotel & Serviced Apartments and discount at 30%.
• Friend & Family rate will be calculated from best available rate of Blue
Water Vibe Hotel & Serviced Apartments and discount at 15%.
Staff Discount on • Staff will be entitled to 20% discount on food & beverages at Blue Water
Food & Beverage Vibe Hotel & Serviced Apartments
Staff Party • Staff party will normally be held on January each year.
Allowances • General Manager: THB 5,000.-
• Sales Executive: THB 4,000.-
Newborn Gift • THB 1,000 (Max. 2 children)
Death of Staff • THB 5,000
Death of Family • THB 2,000
Wreath • THB 800
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APPENDIX S
FIVE YEAR REVENUE PROJECTION BY MARKET SEGMENT
YEAR 1 % YEAR 2 % YEAR 3 % YEAR 4 YEAR 5
F.I.T. (Direct reservation/ Walk in)
Room Nights 1,228 3% 1,277 3% 1,315 3% 1,355 3% 1,396
A.R.R.(THB) 3,179 3% 3,274 3% 3,373 3% 3,474 3% 3,578
Revenue (THB) 3,904,380 4,181,763 4,436,433 4,706,612 4,993,244
% 10% 11% 11% 11% 12%
Corporate
Room Nights 819 3% 844 3% 869 3% 895 3% 922
A.R.R.(THB) 2,540 3% 2,616 3% 2,695 3% 2,776 3% 2,859
Revenue (THB) 2,080,260 2,206,948 2,341,351 2,483,939 2,635,211
% 7% 7% 7% 7% 8%
Government
Room Nights 409 3% 421 3% 434 3% 447 3% 460
A.R.R.(THB) 2,440 3% 2,513 3% 2,589 3% 2,666 3% 2,746
Revenue (THB) 997,960 1,058,736 1,123,213 1,191,616 1,264,186
% 3% 3% 4% 4% 4%
MICEs
Room Nights 1,393 3% 1,435 3% 1,478 3% 1,522 3% 1,568
A.R.R.(THB) 2,640 3% 2,719 3% 2,801 3% 2,885 3% 2,971
Revenue (THB) 3,677,520 3,901,481 4,139,081 4,391,151 4,658,572
% 12% 12% 12% 13% 13%
Packages
Room Nights 244 3% 251 3% 259 3% 267 3% 275
A.R.R.(THB) 2,540 3% 2,616 3% 2,695 3% 2,776 3% 2,859
Revenue (THB) 619,760 657,503 697,545 740,026 785,093
% 2% 2% 2% 2% 2%
TA - International & Local (FITs)
Room Nights 409 3% 421 3% 434 3% 447 3% 460
A.R.R.(THB) 2,440 3% 2,513 3% 2,589 3% 2,666 3% 2,746
Revenue (THB) 997,960 1,058,736 1,123,213 1,191,616 1,264,186
% 3% 3% 4% 4% 4%
Internet (OTA)
Room Nights 3,684 3% 3,795 3% 3,908 3% 4,065 3% 4,187
A.R.R.(THB) 3,179 3% 3,274 3% 3,373 3% 3,474 3% 3,578
Revenue (THB) 11,713,240 12,424,662 13,181,324 14,119,835 14,979,733
% 31% 32% 32% 34% 35%
TTL RM NIGHTS-HOTEL 8,186 8,444 8,697 8,997 9,267
AVE OCC. (%)-HOTEL 68% 70% 72% 75% 77%
A.R.R. (THB)-HOTEL 2,931 3,019 3,109 3,204 3,300
TOTAL HOTEL REVENUE 23,991,080 25,489,830 27,042,160 28,824,795 30,580,225
RevPar(THB) 1,679 1,789 1,904 2,035 2,166
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YEAR 1 % YEAR 2 % YEAR 3 % YEAR 4 YEAR 5

Serviced Apartments
Room Nights 5,636 14% 6,425 6% 6,811 6% 7,219 6% 7,652
A.R.R.(THB) 900 3% 927 3% 955 3% 983 3% 1,013
Revenue (THB) 5,072,400 5,956,012 6,502,774 7,099,729 7,751,484
% 70% 80% 85% 90% 95%
TTL RM NIGHTS-NETT 13,822 14,869 15,508 16,216 16,919

AVE OCC. (%)-NETT 69% 74% 77% 81% 84%
A.R.R. (THB)-NETT 2,103 2,115 2,163 2,215 2,266
TOTAL REVENUE 29,063,480 31,445,842 33,544,934 35,924,524 38,331,709
RevPar(THB) 1,447.74 1,566 1,671 1,790 1,909
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APPENDIX T
PARKING LOT INVESTMENT COMPARISON
Apart from the current indoor and outdoor parking lot, the researcher
compares 3 possible solutions for extra parking spots: build an underground car park,
buy nearby land, and rent nearby land. The prices are taken from the construction
estimate from the Thai Appraisal and Estate Agents Foundation (2022), the actual land
prices (as of January 2022), and the actual rental fee of Water Vibe Hotel’s parking lot.
The results are shown in the Table below.
Underground
Land Acquisition Land Renting
Parking
Price per sq.m. (Baht) 18,700 9,043 125/sq.m./year
Area (sq.m.) 612.15 800 800
Estimate 11,447,205 7,234,400 100,000/year
Parking Slot (car) 24 30 30
The Table shows that building an underground car park is the most
expensive option due to the construction scale while being limited to fewer parking
slots because of the pillars and structures. Buying or renting more land are considered
reasonable options. However, during the first phase of Blue Water Vibe Hotel &
Serviced Apartments, the hotel would have invested a significant amount into the
expansion. Thus, the researcher chose renting a land for more parking slots. The land
will be the one adjacent to the current parking area of Water Vibe Hotel for maximum
convenience.
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BIOGRAPHY
Name Miss Pavaree Bunkhum

Date of Birth April 4, 1994
Educational Attainment 2015 Bachelor of Business Administration
(Finance)
Work Position Owners' Representative
Work Experiences April 2016 - Present
Owners' Representative
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A BUSINESS PLAN FOR HOTEL & SERVICED APARTMENTS

MISS PAVAREE BUNKHUM

AN INDEPENDENT STUDY SUBMITTED IN PARTIAL FULFILLMENT OF THE

Ref. code: 25646302043564HTK

MISS PAVAREE BUNKHUM

AN INDEPENDENT STUDY SUBMITTED IN PARTIAL FULFILLMENT OF THE

Ref. code: 25646302043564HTK

MISS PAVAREE BUNKHUM

A BUSINESS PLAN FOR HOTEL & SERVICED APARTMENTS

Member and Advisor _______________________________________________

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Keywords: Feasibility Study, Expansion Plan, Accommodation, Tourism, Chanthaburi

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The successful completion of this independent study could not be

Miss Pavaree Bunkhum

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LIST OF TABLES (8)

LIST OF FIGURES (15)

LIST OF ABBREVIATIONS (18)

1.1 Business Overview 1

CHAPTER 2 ENVIRONMENTAL EVALUATION 14

2.1 Industry Analysis 14

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CHAPTER 3 INTERNAL EVALUATION 28

3.1 Business Description 28

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3.2.3.1 Short Term Goals (1-2 years) 36

CHAPTER 4 MARKET RESEARCH 56

4.1 Research Objectives 56

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CHAPTER 5 MARKETING STRATEGIES 78

5.1 Target Market 78

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5.3.4.3. Direct Marketing 108

CHAPTER 6 OPERATIONS STRATEGY 118

6.1 Pre-Establishment Plan 118

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6.2.1 Relevant laws 118

CHAPTER 7 HUMAN RESOURCES STRATEGY 130

7.1 Human Resources Management Objectives 130

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7.2 Organizational Structure 130

CHAPTER 8 FINANCIAL STRATEGY 142

8.1 Financial Objectives and Goals 142

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8.2.2.2 Cost of Equity: Re 143

CHAPTER 9 EVALUATION & CONTINGENCY PLAN 163

9.1 Evaluation 163

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9.1.4 Finance 165

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4.8 One-way ANOVA of Different Age Groups in the Decision to Select a 74

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1.1 Business Overview

Accommodation and food services are considered to be one of

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