The Cost and Return on Guesthouse Business in Chiang Mai, Thailand
Keywords:Cost, Return, Guesthouse, Chiang Mai Initiative, Thailand Privilege Card
In Thailand the main income is tourism and Thailand government motivates tourists around the world to travel to Thailand by promoting and pushing â€œThailand Privilege Cardâ€ for priority services. The accommodation businesses have benefited from tourism industry due to many visitors looking for where to stay. In other word, the earning of guesthouse business depends on the number of tourists. In addition, Chiang Mai is the second biggest city in Thailand and they are many tourists from difference country and part of the country visiting Chiang Mai.
The investor who intends to operate guesthouse business in Chiang Mai has to consider the cost and return on guesthouse business. The small guesthouse consist of (1 â€“ 20 rooms) has an investment cost of about 4,075,288.69 baht, with income per year average of 1,270,381.13 baht and net profit per year about 476,705.62 baht.
Moreover, the large guesthouse consist of (21 â€“ 40 rooms) and has an investment cost of about 12,920,388.90 baht, with income per year average 3,520,550.00 baht and net profit per year about 1,799.968.89 baht. To choose what size of guesthouse an entrepreneur can be able to invest in depends on his/her capital and the expected return from business, as each guesthouse rate per room depends on many factor namely decoration, location and service provider.
How to Cite
- Papers must be submitted on the understanding that they have not been published elsewhere (except in the form of an abstract or as part of a published lecture, review, or thesis) and are not currently under consideration by another journal published by any other publisher.
- It is also the authors responsibility to ensure that the articles emanating from a particular source are submitted with the necessary approval.
- The authors warrant that the paper is original and that he/she is the author of the paper, except for material that is clearly identified as to its original source, with permission notices from the copyright owners where required.
- The authors ensure that all the references carefully and they are accurate in the text as well as in the list of references (and vice versa).
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under aÂ Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (SeeÂ The Effect of Open Access).
- The journal/publisher is not responsible for subsequent uses of the work. It is the author's responsibility to bring an infringement action if so desired by the author.