Analysis of Investment Projects for Accommodations in Community Areas Ban Mai Subdistrict, Phra Nakhon Si Ayutthaya District, Phra Nakhon Si Ayutthaya Province Case Study: Small Accommodations

Abstract

This research aims to analyze the costs and returns on investment of small hotel operators and examine the motion of the returns on investment of small hotel operators responding to changes in costs and income. The key informants, comprised of 17 employees and entrepreneurs, were selected using primary data from in-depth interview questionnaires as quantitative research, and data was gathered between February 2023 and May 2023. The findings revealed that: 1. for the general type of accommodation, the payback period (PB) is 6 years, 7 months, and 25 days; the discounted payback period (DPB) is 9 years and 14 days; the net present value (NPV) is 1,404,619.77 baht; and the internal rate of return (IRR) is 8.88 percent; 2. for a homestay, PB is equal to 1 year and 18 days, DPB is equal to 1 year, 1 month, and 13 days; NPV is equal to 3,279,598.70 baht; and IRR is equal to 98.86 percent; 3. for a resort, PB is 3 years, 1 month, and 24 days; DPB is 3 years, 8 months, and 5 days; NPV is 8,510,628.79 baht; and IRR equals 30.92 percent. In the motion analysis, there are two scenarios: the first, in which overall operating costs and revenues rise by 3% annually while revenues at the accommodation are constant over ten years, and the second, in which overall operating costs and revenues rise by 3% annually while the financial costs rise by 10% annually. There are homestay-type accommodations, which are the most interesting investment.