Thread: Chang mai Estate Agent
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Old 03-09-2006, 10:55 AM   #4 (permalink)
Begbie
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Quote:
cm11157GW - This 15 year old Hotel sits within the Old City in Chiang Mai, and enjoys 100% occupancy during the seven months of high season (75% levels are attained throughout the rest of the year). Featuring a huge restaurant and marble verandas, the hotel has been described as “a classic tropical oasis”. Annual profit earnings are approximately 2,500,000 baht, from receipts of 5,000,000 baht, and the appraised value of the building and 1,700 square metres of land that will be acquired is 36,000,000 baht. With over 70 rooms, the enterprise functions as both a hotel and as serviced apartments.
Pardon me for being a bit cynical. 100% occupancy when the average in the high season is 60%. Plus of course a 50% profit margin.
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