Detailed Project Report on service apartment

SERVICE APARTMENT
CODE NO. 2078]

A serviced Apartment is a type of furnished, self contained apartment designed for short term stays. Serviced apartments usually come equipped with amenities that can be found in a regular home, such as a refrigerator, microwave, cutlery, washer/dryer. TV, and internet access. In addition, many offer a dining area and a dedicated work space. Prices for serviced apartments are typically lower than equivalent hotels rooms, especially when the stay is prolonged. The concept of a luxurious and sophisticated apartment in the heart of the central business district, with cleaning services and access to high class facilities and amenities is nothing new, but recently the service apartment, with its superior features and lower costs, is increasingly becoming the norm in Asia.

Luckily in India, in the real estate sector this concept of “Serviced Apartment” is gaining momentum which is evident from the fact that the real estate developers in almost all the big towns of India have now started constructing serviced apartments.

It is expected that in the years to follow serviced apartments would be booming business in India and we will be able to see chains of serviced apartment operators as well as serviced apartment developers on the same theme like building and or operating hotels.

Serviced apartments are also known as apartment Hotels, extended stay hotels and corporate hotels. Generally speaking, these serviced apartments are fully furnished small apartments which are rented out on a short-term or long-term basis. They are also equipped with facilities like a hotel but are more convenient and becoming popular mainly because they are cheaper than regular hotels.


COST ESTIMATION

Plant Capacity                                               SERVICE APARTMENT                  
Land & Building (1600 Sq.Mtr)                   Rs. 21.13    Cr
Plant & Machinery                                         Rs. 2.75 Cr
W.C. for 2 Months                                          Rs.1.03    Cr
Total Capital Investment                              Rs. 26.71 Cr
Rate of Return                                               18%
Break Even Point                                          57%
                

INTRODUCTION                                            
DEFINITION OF SERVICE APARTMENT                            
OVERVIEW OF SERVICE APARTMENT                            
HOME AND HOSPITALITY                                    
SERVICED APARTMENT VS HOTELS                            
MARKET SURVEY                                            
INTERNATIONAL MAJOR LAUNCH AND DIVERSIFICATION                
DIVERSIFYING INTO TIER-II CITIES, LEISURE DESTINAT IONS            
GLOBAL SCENARIO OF SERVICE APARTMENT                        
SCOPE OF SERVICE APARTMENTS                                
DETERMINATION OF DEMAND POTENTIAL OF SERVICE APARTMENT        
LOCATION OF SERVICE APARTMENT                            
GENERAL FEATURES AND FACILITIES POSSES IN SERVICE APARTMENT    
SOME SPECIAL FEATURES OF SERVICE APARTMENTS                
INVESTMENT OPPORTUNITY AND PROFESSIONAL LINK IN SERVICE APARTMENT                                           
SERVICED APARTMENTS ARE A BETTER BET THAN HOTELS            
SUPPLIERS OF PLANT AND MACHINERY                            

APPENDIX – A :

 1.      COST OF PLANT ECONOMICS      
 2.      LAND & BUILDING                                      
 3.      PLANT AND MACHINERY                                  
 4.      FIXED CAPITAL INVESTMENT                             
 5.      RAW MATERIAL                                         
 6.      SALARY AND WAGES                                     
 7.      UTILITIES AND OVERHEADS                              
 8.      TOTAL WORKING CAPITAL                                
 9.      COST OF PRODUCTION                                   
10.      PROFITABILITY ANALYSIS                               
11.      BREAK EVEN POINT                                     
12.      RESOURCES OF FINANCE                           
13.      INTEREST CHART                                       
14.      DEPRECIATION CHART                                   
15.      CASH FLOW STATEMENT                                   
16.      PROJECTED BALANCE SHEET