經營環保小木屋之商業計畫 - 政大學術集成

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(1)國立政治大學商學院國際經營管理英語 碩士學位學程 International MBA Program College of Commerce National Chengchi University. 碩士論文 政 治. 大. 立Master’s Thesis. ‧ 國. 學 ‧. 經營環保小木屋之商業計畫. n. al. er. io. sit. y. Nat. Eco-friendly Cabin Hospitality Business. i n U. Ch. v. i n g c hCortizo Student:e Mario. Advisor: Professor Jack Wu. 中華民國一O六年六月 June 2017.

(2) 經營環保小木屋之商業計畫 Eco-friendly Cabin Hospitality Business. 研究生:歐翊洋. Student: Mario Cortizo. 指導教授:吳文傑. 國立政治大學. 學. ‧ 國. 立. Advisor: Prof. Jack Wu 政 治 大. 商學院國際經營管理英語碩士學位學程. ‧. 碩士論文. er. io. sit. y. Nat. A Thesis. Submitted to International MBA Program. al. n. v i n National C hChengchi University engchi U. in partial fulfillment of the Requirements for the degree of Master in Business Administration. 中華民國一O六年六月 June 2017.

(3) Acknowledgement Thanks to my family, classmates, National Chengchi University faculty and staff members, Taiwan and ICDF scholarship. This wouldn’t have been possible without all your support. Special thanks to Professor Jack Wu, who consistently support me and other classmates as we developed our business plan. The finalized section of this business plan, is also a milestone in our Master in Business program and wouldn’t have been able to successfully culminate it without the help of my girlfriend and family members. Thanks to all for your continuous support.. 立. 政 治 大. ‧. ‧ 國. 學. n. er. io. sit. y. Nat. al. Ch. engchi. ii. i n U. v.

(4) TABLE OF CONTENTS Chapter 1 – Executive Summary 1. Executive Summary .......................................................................................................................1 Chapter 2 – Introduction 2.1. Tourism Industry Worldwide ..................................................................................................3. 2.2. Hospitality Industry Background ...........................................................................................4. 2.3. Eco Tourism Industry ................................................................................................................5. 3.1. Tourism in Panama ....................................................................................................................6. 3.2. Domestic Tourism Industry Panama .....................................................................................8. 3.3. Eco- tourism in Panama ...........................................................................................................8. 3.4. Panama Eco Tourism Destinations: .......................................................................................8. 3.5. Incentives for Tourism Investment in Panama: ................................................................ 11. 政 治 大 Chapter 3 - Panama Industry Background 立. ‧. ‧ 國. 學. sit. y. Nat. er. io. Chapter 4 - Company Description. al. 4.4. Management Team ...................................................................................................................12. 4.5. Location ......................................................................................................................................12. 4.6. Project Description ..................................................................................................................13. 4.7. Project Development................................................................................................................14. 4.8. Construction of Building Facilities .......................................................................................16. 4.9. Suppliers .....................................................................................................................................17. 4.2. n. 4.3. v i n Company Ownership: C Sole 12 U h Proprietorship e n g c h i ........................................................................ Mission, Vision, and Objectives ............................................................................................12. 4.1. Company Name: Panama Eco Cabins (PEC) ....................................................................12. 4.10 Additional Activities Less than 50 km distance: ...............................................................17. Chapter 5 - Financial Projection 5.1. Annual Income ..........................................................................................................................21. iii.

(5) 5.2. Eco- Cabin Fixed Capital .......................................................................................................23. 5.3. Operating Expenses .................................................................................................................23. 5.4. Gross Profit ................................................................................................................................24. 5.5. Net Present Value of the Project ...........................................................................................24. Chapter 6 - Marketing 6.1. Marketing Overview ................................................................................................................26. 6.2. Target Market ...........................................................................................................................27. 6.3. Positioning Strategy .................................................................................................................27. 6.4. Pricing Strategy ........................................................................................................................28. 6.5. Eco-Cabin Special Packages ..................................................................................................29. 6.6. Social Media and Promotions ................................................................................................29. 立. 政 治 大. ‧ 國. 學. ‧. Chapter 7 - Business Model Canvas. y. Nat. 7.1 Value proposition ...........................................................................................................................30. sit. 7.2 Key Partners ...................................................................................................................................31. er. io. 7.3 Key Activities ..................................................................................................................................31. al. n. v i n Ch 7.5 Customer Relationship................................................................................................................. 31 engchi U 7.6 Channels ..........................................................................................................................................32. 7.4 Key Resources ................................................................................................................................31. Chapter 8 - SWOT Analysis 8.0 Company Internal SWOT Analysis: ........................................................................... 33 Chapter 9 - Competitor Analysis 9.0 Competitors Analysis: ................................................................................................ 34 Chapter 10 - Sensitivity Analysis. iv.

(6) 10.0 Sensitivity Analysis: .................................................................................................. 35 Chapter 11 - Future Expansion 11.0 Future Expansion: .................................................................................................... 38 References..................................................................................................................................... 39. 立. 政 治 大. ‧. ‧ 國. 學. n. er. io. sit. y. Nat. al. Ch. engchi. v. i n U. v.

(7) Chapter 1- Executive Summary 1. Executive Summary Panama for many decades has been characterized for its privileged geographic position, biodiversity, modern city, economic development, and its success attracting tourists. Panama figures indicate that the tourism and hospitality industries are growing at impressive rates. In the next few 4 years, worldwide international tourist arrivals is expected to grow by the year 2020 to 1.4 billion and by the year 2030 is expected to reach 1.8 billion.1 Success in the international tourism industry has had also a positive impact in the Hospitality Industry.. 治 政 大in 2016 Panama attracted over 1.9 553.8 Billion. Currently out of those millions of tourists, 立 million tourists. Important to consider is that this new millennial tourists come with a new Accordingly, by 2018 the Hospitality industry is expected to reach a global retail value of 2. 3. ‧ 國. 學. mindset, and are looking for new Eco-friendly hospitality options. As it has been stated by the World Travel and Tourism Organization: “The new millennium and the coming decades are a. ‧. crucial time for the relationship between travel and tourism and sustainable development. The need to preserve the world’s inherent assets for future generations is becoming an imperative. Nat. sit. n. al. er. io. resources.”4. y. goal not only for travel and tourism, but also for all other industries that use the earth’s natural. Ch. i n U. v. Consequently Panama is currently facing a shortage in Eco-friendly focused accommodations,. engchi. and we are currently facing a rising demand of tourists who are looking for affordable Eco-friendly accommodation. Interestingly, Panama through the Ministry of Tourism has been building its infrastructure to promote Eco-tourism. Within our isthmus we offer activities such as: snorkeling, diving, hiking, camping, bird watching, whale watching, zip line tours, rain-forest tours, rock climbing, sailing with dolphins, swimming with sea turtles, white water rafting among others. Therefore due to the increasing number of tourists entering our country, 1. United Nations World Tourism Organization, Tourism Hightlights 2016 Edition, 3.. 2. Statista, Global Hotel Industry Retail Value www.statista.com/statistics/247264/total-revenue-of-the-global-hotel-industry. 3. Autoridad de Turismo Panama, Boletin Estadistico 2015, 6.. 4. United Nations World Tourism Organization, Tourism Highlights 2016, 2.. 1.

(8) Panama shortage of Eco friendly accommodations, and our well suited infrastructure for Eco-tourism activities, we have a great business opportunity to capitalize in.. In our continuous endeavor to have a positive impact on caring the environment while displaying Panama to the world, we are joining efforts in order to start an Eco-friendly hospitality business. Our business model wants to full-fill the current demand for Ecofriendly, self-sustainable, and affordable accommodations. The lodge is expected to be located in Gatun which is characterized by dense forests, fresh air, beautiful lake scenery, hiking trails, the Panama Canal locks, and peace-full environment. We have chosen this location due to its. 治 政 fact that there is no Eco-friendly lodges in this area. 大 Therefore, due to the high influx of 立 tourist in Panama, the multiple activities as well as comfortable accommodations we offer, we proximity with Panama Canal Gatun locks, Gatun Lake, Rio Chagres, its biodiversity and the. ‧ 國. 學. are confident our Eco lodge will enjoy high occupancy rate. In the initial construction phase, the lodge will consist of 4 main cabins, which will be completely constructed with recycled. ‧. products such as Reused maritime shipping containers, refurbished furniture's, in addition, we will construct our cabins in harmony with nature and our cabins will run 100% with solar. y. Nat. sit. energy. We are not only offering an Eco-friendly, and low carbon foot print option for tourists,. al. er. io. we will also offer tours that allow our guests to explore the beauty of Panama. Including the. n. visit to the Gatun locks, bird watching trails, kayaking in the lake, getting to know local. Ch. i n U. v. culture, exiting adventures on the Chagres River, and connecting with nature.. engchi. Our main sources of revenue will be from hospitality services, and touristic attraction services. Accordingly, our main expenses recall on the acquisition of land, equipment and construction of cabins and monthly salary and maintenance expenses. In order to evaluate this project, we have calculated a project duration of 10 years with a 10% discount rate. We will begin the project in 2019, and break even on July 2023. The initial total Capital investment will be of $220,000.00 and we will generate with yearly incomes average $60,000.00 and a NPV of +$195,656.55.. 2.

(9) Chapter 2 – Introduction 2.1 Tourism Industry Worldwide The tourism industry, within the past decades has experienced rapid paced expansion and has currently become the “largest and fastest growing economic sector in the world.” 5 This expansion has translated into economic benefits for multiple countries and currently generates over 7% of the world’s exports in goods and services worldwide.6 Worldwide international travelers per years has increased from 25 million in 1950 to over 1,185 million in 2015.7 Accordingly as it can be observed in Table 1, it is evident how international tourist arrivals. 政 治 大. have increase from the year 2010 to 2015.. 立. ‧. ‧ 國. 學. n. er. io. sit. y. Nat. al. Ch. engchi. i n U. v. Source: http://data.worldbank.org/indicator/ST.INT.ARVL?end=2016&start=2010. As it can be witnessed in Table 1, the amount of international travelers have increased from 954,967,210,863 in the year 2010 to over 1.2 billion in 2015. The tourism industry is not only currently having extreme success, but according to the United Nations World Tourism 5. United Nations World Tourism Organization, Tourism Highlights 2016, 2.. 6. United Nations World Tourism Organization, Tourism Highlights 2016, 2.. 7. United Nations World Tourism Organization, Tourism Highlights 2016, 2.. 3.

(10) Organization international arrivals are expected to continue to grow at a sustained rate of 3.5% to 4.5% worldwide. Even United Nations World Tourism Organization forecast is that by the year 2020 the international tourist arrivals should reach 1.4 Billion and that by the year 2030 should be 1.8 billion. Currently, this increase in tourists worldwide has helped to develop multiple destinations worldwide and benefit the social-economic improvement of multiple regions through the development of tourism supporting industries.. 2.2 Hospitality Industry Background This high success in the tourism industry, has been also translated towards the worldwide. 治 政 2010 to 2018, we can realize it is also an extremely大 profitable industry. Within the last 立 decades, a common trend has been observed of increasing its retail value, even with a forecast hospitality industry. As it can be observed on Table 2, as we analyze the retail value from. ‧. ‧ 國. 學. of the industry value to reach 553.8 Billion USD by 2018.8. n. er. io. sit. y. Nat. al. Ch. engchi. i n U. v. Source: https://www.statista.com/statistics/247264/total-revenue-of-the-global-hotel-industry/. It can be observed in Table 2 how the expected retail value of the hospitality industry has been increasing in the past 6 years and how it is expected to maintain its growth on the up-coming. 8. Statista, www.statista.com/statistics/247264/total-revenue-of-the-global-hotel-industry.. 4.

(11) years. Mainly due to the fact that amount of global travelers is increasing, therefore there will always be a need for hospitality services and therefore opening new possibilities and opportunities for those who want to invest on this industry worldwide.. 2.3 Eco Tourism Industry Eco-tourism is a segment of the Global Tourism Industry that is increasing exponentially. It is defined by the International Eco-tourism Society as “responsible travel to natural areas that conserves the environment, sustains the well-being of the local people, and involves. 政 治 大 contributions towards the environment and towards the community in which it is developed. 立. interpretation and education.”9 Eco-tourism practices are characterized for having positive. ‧ 國. 學. Eco-tourism proposes a long term solution for maintaining, conserving and protecting our environment and cultural heritage.10 Due to the benefit towards the well-being of local people,. ‧. the conservation of nature, and the green friendly practices that are advocated by Eco-tourism. y. Nat. practices, this industry is growing at impressive rates. The idea of adventure, getting to. sit. discover new places, while supporting sustainable accommodations are key for the success of. er. io. Eco tourism industry. Just in the year 2016 over 69% of global travelers said they wanted to. al. v i n market is therefore expected to C grow U by the year 2020, therefore being a h eapproximately i 7% h n c g great opportunity for future investments. n. do something new, and 47% said they wanted to see the culture of a specific country.11 This 12. 9. International Eco-tourism Society, www.ecotoursim.org. 10. International Eco-tourism Society, www.ecotoursim.org. 11. Center for Responsible Travel, The Case for Responsible Travel: Trends and Statistics 2016, www.responsibletravel.org. 12. Future Market Insights, Eco tourism Market: Industry Analysis and Opportunity Assessment 2014 - 2020, www.futuremarketinsights.com. 5.

(12) Chapter 3 - Panama Industry Background. 3.1 Tourism in Panama In combination with the Panama Canal services and related industries, the Tourism Industry in Panama is one of the main contributors to Panamas government annual revenue. It can be observed that Tourism industry in Panama yield in the year 2015 $4,199.77 Million USD.13 Which in relativity to our country size and economy is an indicator of extremely high revenues within this industry. Investment in the Tourism industry, brings many beneficial. 政 治 大. factors for the population such as: generating social development, improving the economy, and contributing to reduce the unemployment rate. Due to the benefits of investing in Tourism,. 立. we have observed in the last 10 years a great involvement of the government with aims to. ‧ 國. 學. help develop this industry. As it can be seen in Table 4 below, we went from having 671, 182 tourists enter Panama through the Tocumen International Airport to over 1,941, 100 in the year 2015.. ‧ sit. y. Nat. In the year 2014 1,609,637 tourist visited Panama, while in 2015 1,941,106. From 2014 to 2015, just one year we had an increase of 20.6%, certainly indicating that our Tourism. io. n. al. er. industry is improving as years advance. Within the tourists that entered Panama, 74.1%. i n U. v. traveled for recreational purpose and the average expenditure per tourist was of $2,629.00. Ch. engchi. with a daily average expenditure of $329.00, and average length of stay of 8 days.14. 13. Autoridad de Turismo Panama, Boletin Estadistico 2015, 19.. 14. Panama Tourism Association, 2016 Results of Touristic Activities in Panama, 4.. 6.

(13) 立. 政 治 大. Source: Panama Tourism Association, Indicators of Tourism Activity in Panama 2006 - 2015, Page 6.. ‧. ‧ 國. 學. Even if we compare the year 2014 with 2015 we can realize that 1,609,637 tourist visited. y. Nat. Panama in 2014, while in 2015 1,941,106. In just one year we had an increase of 20.6%,. sit. certainly indicating that our Tourism industry is improving as years advance. Amazingly,. al. er. io. within the tourists that entered Panama, 74.1% traveled for recreational purpose and the. n. v i n stay of C 8 h days. This success e n g c h i U in Panama. average expenditure per tourist was of $2,629.00 with a daily average expenditure of $329.00, and average length of. 15. tourism campaign has. translated towards benefits for the Panamanian population, and new opportunities within the tourism and hospitality industry. However, this success is not only in past years, but currently the Panamanian Government is heavily investing in tourism campaigns, developing our airport infrastructure, as well as developing joint ventures with new airlines. Accordingly we can ensure that due to the booming success of Panama tourism, government support to the industry, Panama Eco-friendly infrastructure, and activities we offer, we can certainly forecast our tourism industry to maintain current trends in the upcoming decades. 15. Panama Tourism Association, Results of Touristic Activities in Panama in 2016, Page 4.. 7.

(14) 3.2 Domestic Tourism Industry Panama Considering external tourists arriving Panama will increase, we can also observe a trend on increasing numbers of Panamanian families and groups that go to different parts of the country in order to explore and get to know our beautiful touristic locations. Accordingly, due to our population of over 4 Millions, we can calculate that approximately over 5% are willing to engage in within country tourism activities. In order to capitalize and increase our profits, we will also target this local travelers.. 治 政 大America and we possess one of the Panama is the bridge of land that unites South with North 立 most diversified ecosystems on the earth and one of the Western Hemisphere largest. 3.3 Eco- tourism in Panama. ‧ 國. 學. rain-forests.16 “Panama, crossroads of the world and the land bridge of the Americas, is your natural tourism destination” In Panama you can easily find within less than 2 hours away rain. ‧. forests, mountains, beautiful beaches, outstanding coastlines, and astonishing islands. Due to our enormous biodiversity we have a great opportunity for developing Eco-tourism.. sit. y. Nat. er. io. Panama doesn't only has a great Eco-tourism infrastructure, as well we have 944 recorded bird species, more than the U.S. and Canada combined.17 Panama Ministry of Tourism. n. al. Ch. i n U. v. through its minister of Tourism Gustavo Him has reaffirmed that “Panama commitment to. engchi. pursuing tourism development in a way that it improves livelihood and conserves Panamas natural attraction and ecosystems”18 Therefore we can be certain that Panamas Eco-tourism campaign will continue its high paced development.. 3.4 Panama Eco Tourism Destinations:. 16. Janeen Christoff, How Eco-tourism is Changing Panama for Better, www.travelpulse.com. 17. Panamainfo, Top 10 Reasons Why Panama is a Great Touristic destination, www.panamainfo.com. 18. Janeen Christoff, How Eco-tourism is Changing Panama for Better, www.travelpulse.com. 8.

(15) Panama City: Located along the Pacific Coast, it is the heart of the country. With many interesting attractions such as, Casco Viejo which has an unique blend of Spanish and French architecture styles, Metropolitan park, Causeway, Miraflores Canal Locks, Smithsonian, Cinta Costera, Multiplaza mall among many other attractions.. Lake Gatun: Located in the Caribbean Cost of Panama, it is one of the largest man-made lakes in the world. By visiting this beautiful lake, you will have the one in a lifetime experience of observing how ships traverse the canal, while taking a peek at wildlife and biodiversity.. 治 政 Volcan Baru: Located in Boquete, is characterized for大 being a destination for persons that 立 enjoy hiking and adventures. When you reach its top point, from an altitude of over 3, 470 ‧ 國. 學. meters is the only part in the world from which you can enjoy the view of the Caribbean Sea and the Pacific Ocean.. ‧. Boquete: Lies on the East side of Volcan Baru, and is characterized for its comfortable. y. Nat. sit. weather and outstanding scenery. One you arrive Boquete, you have the opportunity to visit. al. er. io. rural coffee farms, freshly prepare coffee, while enjoying a beautiful scenery. It is also. n. suitable for bird watching activities, even being able to observe Los Quetzales. Other. Ch. i n U. v. activities in Boquete include: hiking, bird watching, river rafting, rock climbing, horseback. engchi. riding or even hot springs among others.. Gamboa: Beautiful area, located only 45 minutes away from Panama City. From this place could visit Tropical Rainforest, Parque Nacional Soberania, Barro Colorado and witness Panama biodiversity. It is also possible to navigate across the Chagres River and meet the Embera Wounaan Communities and its culture and tradition. Within Parque Soberania includes Pipeline Road which is extremely famous for bird watching and which consistently set the record for number of birds spotted in 24 hour period, reaching 367 different species of birds such as Keel-billed Toucan, Thick-billed Mot-Mot, Slaty-tailed Trogon, wrens, tanagers,. 9.

(16) flycatchers among others.19 Other possible activities include the visit to Panama Rainforest Discovery Center Aerial tram that lifts you up to 30 meter in order to get to an observation tower and wild life exhibit. Portobelo: Located Among Panama’s Caribbean coast, and was one of the most important ports in the entire Spanish Empire, get to know Traditional dances, festivities, scuba diving, visiting beautiful islands and enjoying delicious dishes. One of the key milestones of this area is exploring colonial fortress dating back from the mid-1700s, and learning about Colons population culture and traditions.. 政 治 大. El Valle: Located in Coclé Province, and aproximately1 hour and 45 minutes away from. 立. Panama City, it offers activities like hiking, zip lining, watching the emblematic golden frog,. ‧ 國. 學. enjoying nature and delicious restaurants.. ‧. San Blas Island: Located among Panama’s Caribbean Coast, they form part of the Comarca of Guna Yala. Guna Yala is the home for the Guna people, who are characterized for their. sit. y. Nat. color-full dress and there personality. Visiting San Blas is an unforgettable experience, from being in a natural pool in the middle of the ocean, to swimming with turtles in crystal clear. io. n. al. er. water, all the way to learning a vibrant culture or visiting Nusagandi wildlife refuge. San Blas. i n U. v. from the beginning to the end of your journey will certainly offer an unforgettable experience. Ch. engchi. Coiba Island: It is located in the Gulf of Chiriquí, it is considered a UNESCO Natural World Heritage and which is part of the Pacific Marine Biological Corridor. Coiba Island is renowned as World-class destination for enjoying clear beaches, watching howler monkeys, diving, observing sea turtles and even whale and dolphin watching.20 Definitely, a must visit if planning on traveling to Panama.. 19. Anywhere, Panama Destination Gamboa, www.anywhere.com. 20. Janeen Christoff, How Eco-tourism is Changing Panama for Better, www.travelpulse.com. 10.

(17) 3.5 Incentives for Tourism Investment in Panama: With the objectives of developing tourism industries in Panama, the Panamanian government through Law No. 80 from November 8, 2012 has promoted investment in the tourism industry. Accordingly, I will continue to explain some of the most beneficial sections of this law. In order to promote the creation of touristic hotels and centers located outside Panama City, the constructions of over $100,000.00 will receive exoneration of importation taxes for a term of 5 years in all construction materials, and of 10 years to all furniture or equipment that will be used on the installations. Panamanian government also offers complete exoneration for house hold and terrain for the places in which the tourism activity is executed. Accordingly,. 治 政 大 future for the development of have been taken by the government and guarantee a promising 立 the hospitality and tourism industry in Panama. complete exoneration on all taxes given over the initial capital investment. All this measures. ‧. ‧ 國. 學. n. er. io. sit. y. Nat. al. Ch. engchi. 11. i n U. v.

(18) Chapter 4 – Company Description 4.1 Company Name: Panama Eco Cabins (PEC) 4.2 Company Ownership: Sole Proprietorship 4.3 Mission, Vision, and Objectives. Mission: Portray Panama unique destinations, support local community, promoting and fostering Eco-friendly practices while offering fair price and quality service.. Vision: Building Sustainability.. 立. 政 治 大. Objectives: Raising awareness for protecting the environment Creating a relaxing and memorable experience. Portray Panama extraordinary attractions, culture, and traditions. Nat. y. ‧. ‧ 國. 學. Supporting the development of local population. sit. 4.4 Management Team. al. er. io. The CEO will be Mario Cortizo, and will be overlooking activities such as sales, marketing,. n. and daily operation activities. The CCO will be Moises Cortizo and will be overlooking. Ch. i n U. v. ad-equation of the terrain and the construction of the cabins. The person in charge of tourism. engchi. services will be Litzy Brown, and will be overlooking tourist activities services. We will also count with 2 local assets from the local community. One will be full-time and will be overseeing daily operations of the Eco-lodge. The second worker will be part time and will be in charge maintenance activities.. 4.5 Location Eco- Cabins will be located in Gatun, province of Colon, 60 Kilometers away from Panama City and close to the Caribbean coast of Panama. Just 1 hour and 10 min drive away from the city, this area is characterized for having the second biggest man made lake, its dense flora and fauna, and the possibility to observe how Ships transit through the Panama Canal.. 12.

(19) Figure 1: Location of Panama Eco-Cabin. 立. 政 治 大. ‧ 國. 學. Source: Google Maps. Figure 2: Proximate location and scenery of Panama Eco-Cabins. ‧. n. er. io. sit. y. Nat. al. Ch. engchi. i n U. v. Source: Google Maps. 4.6 Project Description Eco-Tourism concept located in one of the world’s most bio diverse ecosystem, we want to develop a business model that serves the needs of our Eco-friendly customers. We are. 13.

(20) proposing to develop a unique Ecological lodge that guarantees comfort, sustainability, and accessibility to ecological tours. Offering activities such as: trailing, observing unique local wildlife, learning about culture, enjoying lake scenery while kayaking as well as simply connecting with nature.. Our Eco cabins will not only offer on-site attractions, however we will build multiple day tour activities that could be accessed within less than 1 and a half hours driving distance. This activities range from witnessing from first-hand the operation of the Panama Canal, to visiting Panama capital, or even getting to know historical sites. The location of our Eco lodges is a. 治 政 大 emergency services, and will Panama City. Our project will also take in account offering 立 maintain constant communication with security services, the main Police office is located in total asset, due to its proximity to touristic areas and just 1 hour and 10 minutes away from. ‧ 國. 學. Colon city approximately 15 km away, and the hospital located in 4 altos Colon its 10 kilometer away. We also maintain contact numbers for emergency services, main medical kits. ‧. for snake bites and small injuries. Visiting our lodge will be a great experience in order to relax in a peace-full environment, get to explore Panama, support the local community and. y. Nat. n. al. er. io. 4.7 Project Development. sit. promoting ecological friendly practices.. Ch. i n U. v. The Eco friendly project will encompass the construction of 4 Eco-friendly cabins with a. engchi. beautiful view towards Gatun Lake and ships entering the Panama Canal crossroad. This four cabins will serve as Hospitality residence for tourist’s guests. Surrounded with nature, trees, lakes, and Eco-friendly environment, our main core business will be focusing on offering sustainable housing and unforgettable experience. By talking about sustainable we will use reused materials to construct our buildings. Specifically our cabins will be made with the use of reused containers. Not only this, but we will also equip our cabins with refurbished materials, and furniture, while at the same time will use LED illumination system and connect to a solar panel generation system which will be the generator of electricity in our cabins.. 14.

(21) Figure 3: Cabin Model I. 立. 政 治 大. ‧ 國. 學. Source: https://www.google.com.tw/search?q=dise%C3%B1os+de+contenedores. This Cabin Model will be able to host a family, it will have 2 rooms with a possible extension. ‧. to a third room, a small kitchen, living room, two bathrooms and a terrace.. n. er. io. sit. y. Nat. al. Ch. engchi. 15. i n U. v.

(22) Figure 4: Cabin Model II. 立. 政 治 大. ‧ 國. 學. Source: www.homedit.com/22-most-beautiful-houses-made-from-shipping-containers/. ‧. This cabin model will be design for couples and individual travelers, it will be characterized for having 1 bedroom with bathroom, a small office, living room and kitchen.. sit. y. Nat. er. io. 4.8 Construction of Building Facilities. al. v i n C henergy generation,Urecycling practices, adequate water using recycled products, ensuring e n withc hthei community. Each Eco Cabin will be management practices, and commitment g n. With our construction practices, we want to ratify our Green Commitment by focusing on. designed in order to have a small carbon foot print on the environment and the design will be immersed in within the nature and will converge with harmony with its surroundings. The project first phase which is the construction of 4 cabins, has an expected duration of 1 year until the cabins are ready for hosting guests. Each Eco lodge unit will have: 1 5,000 BTU Air Conditioner unit, 1 fan, Flat screen TV, 2.7 cubic feet refrigerator, small kitchen cooking appliances, full bathroom, as well as access to WIFI. Power will be primarily generated by our Solar Generator Panels, and we will additionally have a backup energy generator in case of emergency. Each cabin will be equipped with a 2kwh solar panel. We will have two models of cabins, however the size of each cabin will be of 28 square meters and will contain a main bed room, bathroom, small kitchen, living room, and terrace.. 16.

(23) 4.9 Suppliers In order to ensure the success of our project, we are considering a multiple list of our partners that will help us equip our Eco-friendly cabins. Ranging from solar companies that will sell their products to us, all the way to the company the will supply used containers. We are also considering other companies that will supply Eco-friendly furniture accessories as well as companies that sell refurbished items.. 政 治 大. Containers Panama: It is a company that is working at a high pace in order to become one of the main leaders in sales of containers in Panama. They are focused in customer service and. 立. giving good quality products at a fair price. Therefore we will be considering Container. ‧ 國. 學. Panamas services in order to acquire our 20 foot or 40 foot containers.. ‧. Yangtze Solar China: It is a company located in China, and was founded in 1994, they focus on solar PV module factory, we are inquiring the 2 KW Solar Panel grid system, and consider. Nat. sit. y. that they could be a great partner in our future business endeavors, due to there great quality. io. n. al. er. products and low prices.. Ch. i n U. v. WHC Solar: Located in Guangdong China, they are focused on solar battery, and other solar. engchi. products. They offer great price for 2kw complete solar set system, and could be a great partner in the future.. Refurbished furniture: In order to acquire our supplies for used furniture, we will first develop an online campaign in order to target friends that are willing to dispose old furniture they have at their places, then we will develop a joint venture with a local talent that has skills to restore used furniture.. 4.10. Additional Activities Less than 50 km distance:. Gatun Locks Visitor Center and Observatory: Located in the Atlantic cost of Panama, and approximately 10 kilometers away from our Eco-lodge. If you want to be part of the history of. 17.

(24) those who once witnessed from first view, the operations of the Panama Canal, then you must visit this tourist attraction.. Figure 5: Gatun Locks View. 立. 政 治 大. ‧. ‧ 國. 學. n. er. io. sit. y. Nat. al. i n U. v. Source: https://www.youtube.com/watch?v=xA2TyFxbH9Q. Ch. engchi. Portobello day trip: This city is located in Colon district and was established during the Spanish colonial period, it has great importance do to its important geographic position and even used as fort for storing Spanish gold. Close to Portobello can also visit World Heritage sites, islands, do scuba diving, or learning about locals culture and tradition while enjoying delicious dishes.. 18.

(25) Figure 6: Portobello Panama. Source: https://www.anywhere.com/panama/destinations/portobello. 政 治 大 Barro Colorado island: Visit 立this protected and natural reserve island located in Gatun Lake. From which Smith Sonian Tropical Research institute does research regarding tropical. ‧ 國. 學. ecosystems. This island has been greatly preserved and it is a great area to learn about Panamas biodiversity.. ‧. n. er. io. sit. y. Nat. al. Ch. engchi. 19. i n U. v.

(26) Figure 7: Barro Colorado Aerial Picture. 立. 政 治 大. Reference: http://voices.nationalgeographic.com. ‧ 國. 學. Among other great activities close to our Eco-lodge, guests can also enjoy tours and visits to. ‧. locations such as Fort Sherman, bird watching tours, hiking or even kayaking at Lake Gatun.. n. er. io. sit. y. Nat. al. Ch. engchi. 20. i n U. v.

(27) Chapter 5 - Financial Projection 5.1 Annual Income In order to calculate the income, we will have 2 main sources: the first one will be the income generated from renting our cabins and the second one will be the one generated from additional tourist services. The project is expected to begin in January 2019 and expected to finish in the end of December 2019. Therefore, we will start generating income since January 2020. As it can be referred on Table 1, we will have 4 cabins, the first cabin will be directed towards families and will have a cost of $75.00 during the high season and $55.00 during low season. Cabin B and C will be designed for couples and the charges will be $55.00 during. 政 治 大 individual travelers and it will contain 3 bunk beds and will be charge daily per person during 立 high season and $40.00 during low season. The last cabin design will be designed for. the high season $10.00 and during low season $8.00.. ‧ 國. 學 ‧. Table 4: Year 2020 Expected Generated Revenue from Cabins. Nat. Low Season. Occupancy. Rate. Rate. Rate. I. $75.00. 80%. II. $55.00. 80%. III. $55.00. 80%. VI. $60.00. 80%. Expected Yearly Revenue. iv 60% n U. $17,550.00. 60%. $12,840.00. $40.00. 60%. $12,840.00. $48.00. 60%. $14,400.00. n. al. sit. Rate. io. s. y. Occupancy. er. Cabin High Season. Ch. $55.00. e n$40.00 gchi. Total Revenue. 21. $57,630.00.

(28) As it can be referred above, in the year 2020, we anticipate to generate $57,630.00 from renting our Eco friendly cabins. In our first year of operation, we are assuming an 80% Occupancy rate during the high season and a 60% occupancy rate during low season. However we are every year increasing by 2% the occupancy rate until we reach the 5 th year and then we maintain constant Occupancy rates.. This occupancy rate has been calculated. based on the amount of yearly tourist income we have in Panama, while taking in account the European and North American travelers with age from 25 to 40, while taking in account the lack of competition. If we project the total revenue of operation within our first 10 years, we will obtain a revenue from renting our Cabins of $648,938.243.. Gatun locks and observation center among other activities.. 學. ‧ 國. 治 政 大special touristic packages, as it can Our second source of generating revenue will be offering 立 be referred in Table 5. We have developed special packages such as visit to the Panama Canal. n. Bird Watching Trip Kayaking at Gatun Lake. Expected Tourists. $25. 700. sit. io. al. Gatun Locks Visitor Center. Price. er. Nat. Tourist Services. y. ‧. Table 5: Year 2020 Expected Generated Revenue from Tourist Services. v ni. C h$10 e n g c h i U550. Total Income. $17,500.00 $5,500.00. $10. 400. $4,000.00. $80. 150. $12,000.00. trip. $40. 200. $8,000.00. Panama City day trip. $50. 150. $7,500.00. Total Revenue. $54,500.00. Scuba Diving in Portobello trip Barro Colorado Island day. Accordingly, in the year 2020 the revenue from non-accommodation sources will be of $54,500.00. We are making an assumption on the numbers of guests that will attend each. 22.

(29) activity mainly based on yearly attendance to our lodge. Each year for the following 5 years, we have increased by 5% the amount of tourist we begun with in 2020. Other than that we have estimated that the cost for doing does activities will be approximately 60% of the price we charge our guests, therefore 40% will be revenue for our Eco lodge. Estimated the source of revenue from Tourist Services in the first 10 years of operations will be of $389,362.949.. 5.2 Eco- Cabin Fixed Capital Our main fix capital expenses will consist of the 1 Hectare property, cost of 4 full equipped cabins, as well as development of the project among others details. Totaling an initial. 治 政 大 the length of the project which is will proceed to use straight line depreciation method within 立 10 years. According, it will add a burden of $22,000 on expenses on every year for the. investment of $220,000.00. In order to depreciate this total amount of capital investment, we. ‧ 國. 學. duration of the project.. ‧. 5.3 Operating Expenses. The main operations expense will be the Salaries, to which we will allocate $1,200.00 per. y. Nat. sit. month. This salary will be for a full time worker taking care of the Eco Cabin and a part time. al. er. io. worker that will do cleaning services and gardening. Additionally we will also allocate yearly. n. stipends for marketing, miscellaneous expenses and contingencies. We forecast that we will. Ch. i n U. v. have an annual operating expenses of $20,400.00 for all related activities with the Hospitality. engchi. services. In addition to hospitality services we will also offer touristic services to our guests. Daily activities like visiting the Gatun canal locks or even hiking trip, we forecast that the expenses of this events will be 60% of the charge we will make to our guests.. 23.

(30) 5.4 Gross Profit In order to calculate Panama Eco Cabin, we were able to forecast the revenues and expenses for the following 10 years of operations. Anticipating inflation, we factor in an extra 5% every year in order to account for inflation. We also forecast that during the first 5 years we will acquire 2% increase in accommodation rates. As it can be observed in Table 5 below.. 立. 政 治 大. ‧. ‧ 國. 學. n. er. io. sit. y. Nat. al. Ch. engchi. i n U. v. As we begin operations, since we had an initial fixed capital of $220,000.00 and we proceed to depreciate in 10 years. Accordingly the first year of operations, since we are starting to build the Eco-lodge, then we will lose $22,000.00. Once we begin our first year of operations in 2020 we will begin to acquire revenues generated from hospitality and tourism services. As forecast, by the year 2023 our company will have break even and since that point we will start having positive numbers. By the year 2029 we are expected to accumulate $352,819.00. 5.5 Net Present Value of the Project In order to calculate the NPV of Eco Cabin resort, we have determined a discount rate of 10%, and a 10 year long project life.. The discount rate has been analyzed taking in account the. interest rate in Panama, and also taking a conservative approach by increasing it to 10%. We. 24.

(31) have forecast the initial total investment, as well as the cash flow for the first 10 years of operations.. The expected value of all expected cash flows is of $352,819.00 since the initial. investment is of 220,000 Therefore the NPV of our project is of +$195,656.55 which indicates that if we execute the project successfully, we will have great success.. 立. 政 治 大. ‧. ‧ 國. 學. n. er. io. sit. y. Nat. al. Ch. engchi. 25. i n U. v.

(32) Chapter 6 – Marketing. 6.1 Marketing Overview With the mission of raising awareness about our Eco-friendly cabins, attracting new customers, and boosting annual revenues, we have managed to create a detailed marketing plan. All our Eco lodge guests will have something in common: they should be persons who enjoy connecting with nature, doing outdoor activities, seeking authentic local experiences, and who have a concern about the future of our environment. Our customers understand the. 政 治 大 conserve our surroundings. Characteristics of our customers is their passion for nature, desire 立 to explore, discover new places, learn about new cultures, and most importantly have a fact that in order to construct a better world, we first need to support sustainable practices, and. ‧ 國. 學. commitment to reduce their carbon footprint in the environment. Therefore our lodge will have to focus on delivering a great service, and maintaining our customers motivated towards. ‧. a better self-sustainable future.. y. Nat. sit. In order to have high occupancy rate we are planning on leveraging between the high and low. er. io. tourist seasons in Panama, and offering different pricing packages. In order to leverage the. al. v i n locals to visit our Eco lodge. Therefore main target segments customers: the C h we will have two U i e h n g c that range from 25 to 35 years who want to first one will be middle and high income tourists n. diminishing amount of tourists during low season we are planning on attracting Panamanian. enjoy a relaxing vacation while intermingling with nature. Our second target customer group will be middle and high income young Panamanians and families who would like to get away from the fast paced city, and will like to enjoy a calm and relaxed vacation.. 26.

(33) 6.2 Target Market Panama Eco cabins, will have two target markets, however all of them will be individuals who enjoy environmental friendly accommodation with plenty of outdoor activities. They are characterized for exploring new areas, being adventurous, and seeking new experiences. The first target market will be the one of tourists, in the year 2016, over 2,217,000 tourists entered Panama, however we will be targeting those travelers from Europe and North America, which are around the age from 25-40 years and who are looking for adventures.21 From this 2.2 million tourists, over 600,000 are from the regions mentioned above. Due to our 25-40 years age demographic, we will assume based on traveling trends that 15% of this tourists are. 政 治 大. between the ages of 25-40 years. Therefore we are targeting over 90,000 of this tourists that. 立. enter Panama and who could purchase our great service.. ‧ 國. 學. Our second target market will be families in Panama and young couples, who want to have a small vacation, in order to relax from the busy life of Panama City. Therefore we will target. ‧. ages from 25-40 and from demographic information of Panama data base we can calculate. sit. y. Nat. over 700,000.00 Panamanians that are within that age group, however with income over. io. market of over 70,000.00 who could obtain our services.22. n. al. 6.3 Positioning Strategy. Ch. engchi. er. $20,000.00 per month we could calculate 10% of them, therefore resulting in a possible target. i n U. v. We differentiate our product by our offerings, self-sustainable and green practices. We offer a solution for lack of Eco-tourism resorts in Panama, while we will focus on Pull promotion strategy. We want to set advertising campaigns online in order to attract tourist’s visitors. Compared with our competition, we offer lower price and better service.. 21. Panama Tourism Association, Results of Touristic Activities in Panama in 2016, Page 4.. 22. Index Mundi, Panama Demographics Profile, www.indexmundi.com. 27.

(34) 6.4 Pricing Strategy In Panama Eco-lodge we will offer high season 7 months and low season 5 months. Low season includes the following months: April, May, June, September and October. The prices will be as detailed on Table 6. Starting from $40.00 to $55.00 during the low season and from $55.00 to $75.00 during the high season. However, as it can be seen on Table 7, for tourist services, we will maintain a fixed priced during the whole year. Overall we are contemplating a skimming pricing strategy, however this is to consideration on how the demand and market behavior.. Cabins. 立. 治 政 大 Table 7: Pricing Strategy High Season Rate. Low Season Rate. $75.00. 學. II. $55.00. $40.00. III. $55.00. $40.00. VI. $60.00. $48.00. $55.00. er. io. sit. Nat. y. ‧. ‧ 國. I. n. a lTable 8: Tourist Services Pricing v i n Ch Tourist Services i Uper Person e n g c hPrice. Gatun Locks Visitor Center Bird Watching Trip Kayaking at Gatun Lake. $25 $10 $10. Scuba Diving in Portobelo day trip. $80. Barro Colorado Island day trip Panama City day trip. $40 $50. 28.

(35) 6.5 Eco-Cabin Special Packages In order to attract more guests we will also offer special packages such as the followings detailed on Table 7. The overall idea is to lay out a plan that includes guest activities and also the hospitality at our lodge. Table 9: Eco Cabins Packages High Season Package Includes Rate 2 nights at Cabin II + Gatun Locks Visitor Center + Bird Watching Trip + Kayaking at Gatun Lake Package A (Couples) (Two Persons) $165.00 3 nights @ Cabin Cabin I+ Barro Colorado+ Panama City day trip +Gatun Locks Visitor Center and Bird Watching Trip (Four Package B (Family) Persons) $630.00 2 nights at Cabin IV + Bird Watching Trip + Gatun Locks Visitor Center + Package C (Solo Guest) Scuba Diving $140.00. 政 治 大. 立. Low Season Rate. $140.00. ‧. ‧ 國. 學. $595.00. io. sit. y. Nat. $135.00. n. al. er. 6.6 Social Media and Promotions. i n U. v. In order to attract international guests, we will promote a Facebook and Instagram page that. Ch. engchi. we will keep update with pictures and relevant information. Through our Facebook page we will also offer promotions and discounts for those who recommend and share our web-page and locations. Discounts going from 5% to 10% on nightly rates, and promotions such as giving a free drink or break-fast during your stay as our guest. We will also be featuring group discount of 10% on groups greater than 10 persons attending to our Eco cabins and tourist activities. Therefore our focus for promotions will be social media, word of mouth, and offering bundled packages.. 29.

(36) Chapter 7 - Business Model Canvas 7.1 Value proposition After recognizing the lack of Eco-tourism friendly hospitality locations and realizing the pain that Eco-friendly tourists suffer when they have to select a hotel that doesn't fosters sustainability and interaction with nature. We have realized that we want to offer to our customers an Eco friendly hospitality experience in which enable you to connect with nature, while offering a low carbon foot print accommodation, while discovering our beautiful country, Panama.. 政 治 大. Experience connection with nature: We offer this experience by constructing our lodge in. 立. the right location without damaging the environment. Being in within the nature, surrounded. ‧ 國. 學. by trees, fresh wind, beautiful Lake Gatun scenery, mountains, and animals, that is how we guarantee a harmonic connection with nature during your stay at our Eco lodge. We sell the feeling of being in complete harmony with nature. ‧ sit. y. Nat. Offering low carbon foot print accommodation: We want to make our clients journey in Panama the most Eco-friendly possible. Therefore we have invested in using reused materials. io. n. al. er. for the construction of our lodge. Examples go from building the lodge with a recycled. i n U. v. container to using refurbished furniture to equip our lodge. Not only we focus on using reused. Ch. engchi. materials and low energy consumption products such as LED lights, and smart Eco-friendly air conditioner units, but we are also 100% dependent on our own solar generation of energy. We also foster the development of recycling programs and self-sustainable gardening.. Supporting the development of local communities: The success of our lodge is equivalent to the success of our community. We want to grow hand in hand with our community by offering them work opportunities, as well as the ability and training to generate their own services that will be aimed towards supporting the tourism industry. Not only this but we will also like to develop a plan to help improve local community education, and fostering recycling practices, and self-sustainable gardening in order to ensure well nutrition and generation of revenues.. 30.

(37) 7.2 Key Partners Our business main partners will be divided in 3 main categories. The first one will be the websites platforms that will offer our services. We are considering promoting our services in Booking, Air bed and Breakfast, and other hotel searching platform. Second, we will also like to develop key partnership with government agencies, specifically the National tourism agency, in order to help promote our business model. Accordingly, we are looking to fostering relationship with international groups that foster Eco-tourism activities. Lastly, but not least all our suppliers, mainly Container suppliers, solar panel suppliers will be key an essential for. 政 治 大 our key partners we are certain that will have a positive impact on the image, service, and 立. ensuring a success-full business. By focusing in developing strong and close relationship with. customer satisfaction of our Eco lodge.. ‧ 國. 學. 7.3 Key Activities. ‧ sit. y. Nat. Focusing on marketing our services, and building an awareness of our Eco lodge services, will be one of our main efforts. We consider that building the brand name the first 3 years will. io. n. al. er. be fundamental for the success of our Eco lodge. Other activities include the construction and. i n U. v. equipment of our Eco friendly cabins, which could take an approximately 12 months until. Ch. engchi. assuring successful completion, as well as offering pickup services to the airport. Also offering great customer services, and outstanding tours to our clients. We will even offer training for our tourists guides, in order to ensure they are well prepared and have good knowledge and dominate English language. This could have a great impact in our customer satisfaction rate and therefore will help us retain future clients and gain new ones by referral.. 7.4 Key Resources: Land or Terrain, lodges infrastructure, Human Resources *our workers, Financial resources such as line of credit.. 7.5 Customer Relationship: Create an Eco-friendly community: By recompiling a data base that tracks our previous customers. We will also focus on offering rewards program such. 31.

(38) as special promotions for VIP clients. Not only this but as well a referral program by offering 5% discounts on nightly rates or activities in order to receive some type of referral. This way we can increase our client data base and give our services to more clients.. 7.6 Channels: Our main channel will be the internet. We will market our services through our key partner’s internet platform, and we will also create a web page for our Eco lodge.. 立. 政 治 大. ‧. ‧ 國. 學. n. er. io. sit. y. Nat. al. Ch. engchi. 32. i n U. v.

(39) 8.0 Company Internal SWOT Analysis:. Strengths:. Weakness:. Eco friendly,. No brand recognition. Location. Limited budget. Affordable prices. First time developing in the market. Offer multiple services. Low client base.. Using sustainable practices Foster community development Strong management team.. Threats:. ‧. ‧ 國. 學. Opportunities:. 立. 政 治 大. Competition and new entrants. Panama 9.0 Competitors Analysis Environment friendly trends. Lack of financial support Lack of liquidity. n. a Growing Eco-tourism market.l. er. io. sit. y. Nat. Increasing amount of tourists arriving. Ch. i n U. v. Government policies towards tourism. engchi. 33.

(40) 9.0 Competitors Analysis: 9.1 Main Competitors facing in the Industry: The main competitors within the hospitality industry which offer a similar product towards a similar target market is Mama Llena Eco-lodge. Luckily, currently the Eco friendly hospitality industry with affordable prices is not well developed in Panama. Therefore in this case our main competitor will be Mama Llena Eco-lodge. Canopy branches could also be considered as competitors, however there target market and main customers differ from ours, therefore we will proceed to focus on Mama Llena Eco-lodge.. 立. 政 治 大. 9.2 Products and Services: Mama Llena is located in la Laguna of San Carlos, about 1. ‧ 國. 學. hour and 30 minutes away from the city and offers Eco-friendly accommodation focused on developing a self-sustainable environment. They do this by growing its food with organic and. ‧. developing new agricultural techniques. Within the products they offer are: Hillside Cabana, River Cabins, Private or Dorm Rooms. The dorm room prices are around 10$ per person,. io. y. sit. Nat. while the private rooms 40$ and the private side cabanas 50$.. n. al. er. 9.3 Main Competitors Strengths and Weaknesses: They possess the market know. Ch. i n U. v. how since they have been in business since January of 2016, and therefore acquired good. engchi. reputation and customer client base. The location, is in within nature and foster an environment for relaxing and enjoying nature while offering really attractive rates. Also they have a solid management team which consists of: the owner of the lodge, a cocktail specialists, and two local assets that help with the administration and maintenance of the lodge. However we consider that they offer few activities, they don’t rely on renewable sources of energy, and are located far away from the city and other Eco-touristic attractions.. 34.

(41) 10.0 Sensitivity Analysis: Accordingly, we will be analyzing the impact on 2020 total lodging revenue, by changing variables such as price and occupancy rate.. Table 10: Original Total Revenue Expected in 2020 High Season Occupancy Low Season Occupancy Expected Yearly Cabins Rate Rate Rate Rate Income I $75.00 80% $55.00 60% $17,550.00 II $55.00 80% $40.00 60% $12,840.00 III $55.00 80% $40.00 60% $12,840.00 VI $60.00 80% $48.00 60% $14,400.00 Total Revenue $57,630.00. 立. 政 治 大. ‧ 國. 學. ‧. As it can be referred in Table 9, our total revenue for lodging services the year 2020 is. Nat. er. io. sit. in order to analyze the impact in annual revenue.. y. expected to be $57,630.00. Following we will be making some adjustments on occupancy rate. Table 11: Impact on 2020 Expected Yearly Revenue by Increasing Occupancy Rate by 10%. aOccupancy v Low Season Occupancy i l Rate n Ch Rate U Rate i e h n c g$55.00 90% 70%. n. High Season Cabins Rate I $75.00 II $55.00 III $55.00 VI $60.00. 90% 90% 90%. $40.00 $40.00 $48.00. 70% 70% 70% Total Revenue. Expected Yearly Income $19,950.00 $14,595.00 $14,595.00 $16,380.00 $65,520.00. Accordingly, as it can be seen in Table 10, by increasing occupancy rate we will be increasing our expected yearly income by $7,890.00 which in our project period of 10 years could translate to over $78,000.00. It is important to analyze occupancy rate since it will be one of the main drivers of our revenue.. 35.

(42) Table 12: Impact on 2020 Expected Yearly Revenue by Decreasing Occupancy Rate by 10%. Cabins I II III VI. High Season Rate $75.00 $55.00 $55.00 $60.00. Occupancy Rate 70% 70% 70% 70%. Low Season Occupancy Rate Rate $55.00 50% $40.00 50% $40.00 50% $48.00 50% Total Revenue. Expected Yearly Income $15,150.00 $11,085.00 $11,085.00 $12,420.00 $49,740.00. Consequently in Table 11, we have observed how the yearly total revenue has decreased by. 治 政 大to analyze since we also need to from 60% to 50% during low season. This is important 立 contemplate this possibilities during the development of our business plan. Even if our $7,890.00 since we dropped the occupancy rate from 80% to 70% during high season and. ‧ 國. 學. occupancy rate drops by 10% we will still be making profit at the end of year 10.. n. al. Ch. y. Low Season Occupancy Rate Rate $44.00 60% $32.00 60% $32.00 60% $38.40 60% Total Revenue. sit. io. Occupancy Rate 80% 80% 80% 80%. er. Nat. High Season Cabins Rate I $75.00 II $44.00 III $44.00 VI $48.00. ‧. Table 13: Impact on 2020 Yearly Revenue by Decreasing Price by 20%. engchi. i n U. v. Expected Yearly Income $16,560.00 $10,272.00 $10,272.00 $11,520.00 $48,624.00. Accordingly in Table 12, we are looking at another variable, price. We are executing this change in order to see if we could stay in business if we get a big competitor and we are forced to drop our prices by 20%. Consequently our yearly total revenue still is higher than our yearly expenses which account for $20,400.00 of operating expenses and $22,000.00 for the lease of initial investment. Therefore we could still work and tightly manage to keep our business alive by reducing price by 20%.. 36.

(43) Table 13: Impact on 2020 Yearly Revenue by Increasing Price by 20% and Ocp. Rate by 10%. Cabins I II III VI. High Season Rate $90.00 $66.00 $66.00 $72.00. Occupancy Rate 90% 90% 90% 90%. Low Season Occupancy Rate Rate $66.00 70% $48.00 70% $48.00 70% $57.60 70% Total Revenue. Expected Yearly Income $23,940.00 $17,514.00 $17,514.00 $19,656.00 $78,624.00. Following a bad scenario of having to sell 20% lower price, we also like to be optimistic, and. 治 政 大 raise the price by 20% and our is the case as it can be observed on Table 13, we could 立 occupancy rate by 10%, accordingly our annual revenue will increase by $20,994.00, which we are looking forward on having excess customers and high demand for our services. If this. ‧ 國. 學. seems to be an achievable forecast especially due to the lack of Eco-friendly cabins in our region of operations.. ‧. n. er. io. sit. y. Nat. al. Ch. engchi. 37. i n U. v.

(44) 11.0 Future Expansion: In order to ensure the success of our Eco-friendly lodge concept, we have analyzed the possibility of incorporating new branches on several areas of Panama. Areas we are considering go from constructing Eco-friendly offices on the city in order to rent them to clients that want to develop their own businesses, up to expanding our Eco-friendly container hospitality concept to an area called Veracruz, which has views to the beautiful coast line of the Pacific side of Panama. Overall after our first 5 years of operations, we will evaluate all this possibilities, certainly always maintaining our core values of developing environmental friendly constructions and adding value through creating an experience that helps to connect. 政 治 大. with nature and reduces worldwide carbon footprint.. 立. ‧. ‧ 國. 學. n. er. io. sit. y. Nat. al. Ch. engchi. 38. i n U. v.

(45) References World Tourism Organization, "Tourism towards 2030, Global Overview", UNWTO General Assembly Republic of Korea 10 October 2011. World Tourism Organization “World Tourism highlights 2016", www.mkt.unwto.org. McKeone Emily, "Ecotourism in Costa Rica: Environmental Impact and Management", Environment Studies Program, 2011.. 政 治 大 Lawt Send, "Business Plan for Palm-Eco Resort in Myanmar", Bangkok, Thailand. 立. ‧ 國. 學. Bricker Kelly, "Trends and issues for Eco-tourism and Sustainable Tourism", Uniting Conservation, Communities, and Sustainable travel. International Eco-tourism Society.. ‧. y. Nat. Autoridad de Turismo de Panama, "Resultado Actividad Turistica Panama", Resultados de. n. al. er. io. sit. Enero a Diciembre 2016, Oficina de Relaciones Publicas Departamento de Estadisticas.. i n U. v. Autoridad de Turismo de Panama, Boletin Estadistico de Turismo 2015. Ch. engchi. Autoridad de Turismo de Panama, "Indicadores de Turismo de la Republica de Panama 2006 2015". Panama Demographics Profile 2016. Accessed June 10, 2017. http://www.indexmundi.com/panama/demographics_profile.html. "How Ecotourism is Changing Panama (For the Better)." TravelPulse. Accessed June 10, 2017. http://www.travelpulse.com/news/destinations/how-ecotourism-is-changing-panama-for-the-b etter.html. "Leyes de Incentivos para Inversión Turística." Autoridad de Turismo de Panamá. Accessed June 10, 2017. http://www.atp.gob.pa/leyes-de-incentivos-para-inversion-turistica.. 39.

(46) Mohn, Tanya. "Travel Boom: Young Tourists Spent $217 Billion Last Year, More Growth Than Any Other Group." Forbes. March 23, 2016. Accessed June 10, 2017. https://www.forbes.com/sites/tanyamohn/2013/10/07/the-new-young-traveler-boom/#3b0b39 864ff1. Admin. "Top 10 Reasons Why Panama is a Great Tourist Destination." Panamainfo.com. August 05, 2014. Accessed June 10, 2017. http://panamainfo.com/en/top-10-reasons-why-panama-a-great-tourist-destination. "Why is ecotourism important?" The International Ecotourism Society. Accessed June 10, 2017. http://www.ecotourism.org/book/why-ecotourism-important.. 治 政 大Society. Accessed June 10, 2017. "Who are ecoutourists?" The International Ecotourism 立 http://www.ecotourism.org/book/who-are-ecotourists. ‧ 國. 學. ‧. Anywhere.com. "Gamboa - Canal Zone, Panama." Anywhere - Expert Vacation Planners. Accessed June 10, 2017. https://www.anywhere.com/panama/destinations/gamboa.. io. sit. y. Nat. "What to Do." Visit Panama. Accessed June 10, 2017. http://www.visitpanama.com/what-to-do.. n. al. er. "International tourism, number of arrivals." International tourism, number of arrivals | Data. Accessed June 10, 2017. http://data.worldbank.org/indicator/ST.INT.ARVL.. Ch. engchi. i n U. v. "Ecotourism Market: GCC Industry Analysis and Opportunity Assessment 2014 - 2020." Future Market Insights. Accessed June 10, 2017. http://www.futuremarketinsights.com/reports/gcc-ecotourism-market. Containers Panama. "Containers Panama." Containers for Sale - Containers for sale in Panama! Accessed June 10, 2017. http://www.containerspanama.com/about.php.. 40.

(47) Appendix Table 12: Tourists that entered Panama through Tocumen International Airport. 立. 政 治 大. ‧. ‧ 國. 學. n. er. io. sit. y. Nat. al. Ch. engchi. 41. i n U. v.

(48) Table 13: Countries that Visit Panama the Most in 2015. 立. 政 治 大. ‧. ‧ 國. 學. n. al. er. io. sit. y. Nat. Source: Autoridad de Turismo de Panama. Ch. engchi. 42. i n U. v.

(49) Table 14: Expected Revenues, Expenses, and Income for duration of the project.. Table 14: Expected Revenue, Expenses, and Income 2019 - 2028 Expected Rev. Expenses from Tour. Expected Expenses for Tour. Serv. for Lodging Serv. 0.0 0.0 0.0 54500.0 20400.0 32700.0 57225.0 21420.0 34335.0 60086.3 22491.0 36051.8 63090.6 23615.6 37854.3 66245.1 24796.3 39747.1 69557.3 26036.1 41734.4 69557.0 27338.0 41734.2 69558.0 28704.8 41734.8 69559.0 30140.1 41735.4. ‧. ‧ 國. 立. 政 治 大. 學. io. sit. y. Nat. n. al. er. Year 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028. Capital Expected Rev. Investment from Lodging 22000 0.0 22000 57630.0 22000 59208.0 22000 60786.0 22000 62364.0 22000 63942.0 22000 65520.0 22000 65520.0 22000 65520.0 22000 65520.0. Ch. engchi. 43. i n U. v. Yearly NET Income INCOME -22000.0 ($22,000) 37030.0 $15,030 38678.0 $53,708 40329.5 $94,038 41984.7 $136,022 43643.7 $179,666 45306.8 $224,973 44004.8 $268,978 42638.4 $311,616 41203.5 $352,819.

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