This Guesthouse and Spa is located at Patong Beach in Phuket, and is exclusively for men. It was established two years ago and is realising annual profits of 2,800,000 baht, from receipts of 7,300,000 baht. These financial results have been generated from five residential blocks, however, and there are a further three brand new blocks about to open (with another 15 rooms). The owner, who is relocating to Bangkok, estimates that the extra rooms will drive annual receipts up to around 10,000,000 baht, and believes that annual profits will increase by approximately 2,500,000 baht, which would then lead to annual profits of 5,300,000 baht. A variety of rooms are provided, including superior rooms, suites, apartment suites and penthouse apartments; room rates vary from 450 baht to 8,000 baht per night, depending on room size and season, to cater to varied budgets. Each room is completed in Scandinavian style and is fully fitted, with air-conditioning, ceiling fan, electronic safety box, refrigerator/mini-bar and cable television (larger suites even have their own Jacuzzi). The guesthouse features a swimming pool, a gym, a sauna and a sundeck. Total floor space is 16,000 square metres, and monthly rent has been set at 135,000 baht (including the new blocks), and a new nine year lease contract is available for the new owner, although there is a key money requirement of 2,900,000 baht (alternatively the existing lease still has six and a half years to run, with key money payments of 1,700,000 baht outstanding). There are 10 full time and six part time employees on the payroll, and this totals around 80,000 baht per month. The assets are in very good condition (brand new in the three new blocks) and have been valued at 3,000,000 baht.
