Demand For Service Apartments example essay topic

Overview You work for a property development company, which plans to invest in the service apartment industry. You have conducted a survey to determine the patterns of demand for service apartments and the needs of users of such accommodation. You are required to submit a report. Use items A, B, C, D & E to assist you to write the report. Read the information carefully and select only relevant information to write certain sections of your report.

All three questions are interrelated. Questions 1. Write the Introduction section consisting of the Background, Objectives and Scope. Word limit: 300 words 2.

Write the Results section of your report based on the information given. Word limit: 300 words 3. Write the Abstract of your report. Word limit: 150 words Item A: Excerpts of a dialogue between yourself and your supervisor... Supervisor: As I mentioned over the phone yesterday, our company is looking into investing in the service apartment industry. Our division has been asked to submit a report.

You: What would the report be about? Supervisor: The Board of Directors wants to have a clearer picture of the patterns of demand so that we can plan and allocate our resources. We also need to look into the type of facilities that tenants, both businessmen and holiday makers, prefer. This, of course, will determine what we provide at our apartments. You: (Taking down notes.) Anything else? Supervisor: That's about it.

You: How much time do I have to complete this report? Supervisor: The next Board of Directors' meeting will be in late August so the report has to be submitted latest by mid-August. Let's say 15 August. You: That doesn't leave me with much time... today is already 10 June. Supervisor: I think two months should be sufficient. You: I'm not sure where to begin.

How do I get data for the report? Supervisor: To start with, you can design a questionnaire and distribute it to managers of various service apartments around the island. Don't forget a questionnaire for the tenants as well. You will also need their views. You: OK... questionnaires for managers and tenants. So how many should we send out for each group?

Supervisor: Maybe 150 for tenants and 50 for managers. You: O.K. Perhaps I should interview tenants as well in order to get some personal insights or opinions. What do you think? Supervisor: Why not? It will enhance your report. I've got another meeting now.

Think about what we have discussed. If you need additional information, call me this afternoon. You: O.K. (End of dialogue) Item B: Extracts from 3 local newspapers "More and more multinational companies are setting up bases in Singapore as it was ranked one of the best places for doing business by U. S-based Fortune magazine. At present, about 80,000 expatriate families live in Singapore. There are only about 3,000 units of service apartments on the market. Despite this year's economic downturn, unlike other segments of the property market, demand for service apartments is still high".

-- - The Straits Times, 21 July 2001 "To attract and retain customers, the service apartments' operators must anticipate their customers' needs and deliver more value. In times of an economic downturn like this year, service apartment operators must try to cut costs and overheads". -- - The New Paper, 12 June 2001 "Last October, I stayed in a studio service apartment in Nass im Road and I paid $3,500 per month. But this time around I have to pay $500 more. Service apartments are supposed to cost less than hotels". Mr Steven Cross, a U.S. businessman, told the reporter.

-- - Today, 30 July 2001 Item C: Excerpts of an interview with a business tenant on 12 July 2001... Interviewer: By the way, how long have you been staying here? Mr Smith: About 3 months. Most of us here on business stay for an average of 6 months to a year. You mentioned a survey.

What is it about again? Interviewer: My company is looking into the service apartment industry and I am collecting data to write a report. Mr Smith: Oh, I see. Why don't you send out questionnaires instead of conducting interviews? Interviewer: Actually, we are doing that. Mr Smith: So how has the response been?

Interviewer: Better than expected. The response rate is 59%. Now, how did you hear about this place? Mr Smith: A friend of mine stayed here for 8 months sometime last year and he recommended it very highly. Note: Item C continues on page 4. Interviewer: What exactly did your friend say about this place?

Mr Smith: He mentioned the great location, the reasonable costs and the facilities. Interviewer: Can you tell me more about what you mean by "facilities"? We " ll be addressing costs and location in a separate survey. Mr Smith: Well... after a hard day's work, a pool of a reasonable size would be something that I look for. A well-equipped gym would also be a plus. Another important feature is a business centre with basic facilities such as fax machines and photocopiers.

Interviewer: Why did you choose to stay in a service apartment, rather than say, a hotel? Mr Smith: In a way, a service apartment is very much like a hotel, with a hotel's facilities and convenience. But I like service apartments because they combine the comfort of a hotel with the freedom of a private flat. Interviewer: Have you ever had any difficulty in renting a service apartment? Mr Smith: Well, not really, except during holiday seasons such as Christmas.

To avoid this problem, I book at least three months in advance. Interviewer: Mr Smith, I've already taken more than enough of your time. Thank you so much. Mr Smith: Don't mention it.

Hope you have all the information you need. Interviewer: Thank you. (End of interview) Item D: Sample of the questionnaire sent to tenants on 16 June 2001 Survey on Customer Needs in Service Apartments 1. Name of service apartment: 2. Address: 3. Length of stay: (a) 1 to 2 weeks (b) 3 to 4 weeks (c) 1 to 3 months (d) 3 to 6 months (e) 6 to 12 months (f) more than a year 4.

Purpose of stay: (a) Business (b) Holiday (c) Others (please specify) 5. Please rank the services needed: not important quite important very important 1 2 3 (a) Maid service 1 2 3 (b) Laundry service 1 2 3 (c) 24 hr reception / concierge 1 2 3 (d) Secretarial service 1 2 3 (e) Games room 1 2 3 (f) IDD service 1 2 3 (g) Security guards 1 2 3 (h) Wake-up calls 1 2 3 (i) Airport transfers 1 2 3 (j) Childcare services 1 2 3 (k) Others (please specify) 6. How often do you use the following facilities per week? Daily 3 times Twice Once None (a) Car par (b) Business centr (c) Kitchen (d) Swimming poo (e) Playground (f) Tennis cour (g) Gymnasium (h) Laundromat (i) Others (please specify) 7. Suggestions for improvement: Thank you for your time. Please return the completed form in the self-addressed envelope provided by 26 June 2001.

Item E: Data collected Figure 1: Average occupancy rate of service apartments in Singapore, 1996-2000 Figure 2: Frequency of facility use by business tenants and holiday makers, June - July 2001 Note: Item E continues on page 7. Figure 3: Patterns of demand for service apartments by business tenants and holiday makers in 2000.