Bangkok Case Study
This statistic can comply with the Bangkok Post which Karan Khanijou reports that Bangkok remains “Thailand’s most popular hotel investment destination due to its position as one of the most visited cities in the world, attracting both leisure and corporate travelers all year round. Investor demand for assets in Bangkok has driven asset prices ever higher in spite of a significant amount of new supply of hotel rooms over the past few years” (2015).
Tourism is the great source for gaining income and employment to our country. …show more content…
Lifestyle hostels have a lot of local activities for the travelers who would like to touch cultural experience.
Investors should like journey, enjoy with new friends from various countries, have service mind and to be good planning and preparation that these attributes can support investors when they run a business. These are the efficiency steps to invest in hostel business in Bangkok.
First, the basic method for starting hostel business is writing a business plan that it includes all necessary information such as investment, management team, mission statement, hostel description, feasibility study, channel strategy, promotion, financial analysis, and risk management. It is a tool that help you know all expense, monitor work progress, control the budget for investment (Stever Robbins, 2015).
Second, find the suitable location for your hostel that is located in the attractive areas. For example, the location is beside the river, near by skytrain or subway station, surround with the historical places, and convenient for shopping. Location is one of the important factors that many travelers choose to be the first priority. The website of wikiHow (2015, para. 2) states that “You should open a hostel in a place with a high volume of budget travelers passing …show more content…
Service, most of travelers could probably satisfy living in hostel that provides complete services such as free breakfast, wide variety of rooms, secure lockers, laundry with free washing powder, internet access, information boards, good security, and others facilities. For example, Saphai Pae Hostel is one of the best hostels in Bangkok 2014 that many travelers review on Tripadvisor.com that it is an excellent hostel because this hotel provides all kind of amenities with full array of services which conclude comfortable bunks, free wireless internet kiosks, movie rooms with DVD rentals, laundry rooms equipped with coin laundry machines, a pool table, travel guides and maps, big bathrooms and bedrooms, coffee shop and restaurant service with fair prices, funky atmosphere, and friendly