1.1 Background and importance.
Valuation (valuation) in the past to work, which is not reflected in the valuation profession of financial institutions and the government, such as the Land Department.
Or the Department related to land and the property appraiser often learn from the work. Education and troubleshooting experience generations unorganized rules are clearly lessons from financial institutions or departments involved in the appraisal would not be able to assemble a group to share their learning institute. knowledge or experience on each other.
Current valuation is becoming more important to organizations in both the public and private sector financial institutions and the general public is necessary to find those responsible for appraisal standards. neutral, especially in critical that need to be evaluated in terms of price, such as real estate loans.
Financial institutions for the valuation of assets is key component of the loan portfolio of banks in terms of assets used as collateral to repay the debt to hedge the risk that the amount of the loan is based on the value of the appraised value. that is secured by real estate
The property valuation aims vary as to the project for a joint venture for the purchase - for Separation of governance for insurers to take over.
And to the book, but in this study, the researchers focused on the valuation of assets for consideration hotel management institute, according to the standards of professional conduct and evaluate two approaches including valuation method. Think of the cost and the income of the two methods gave different results worth the hope that the findings can be extended to.
The final conclusion of the appraisal on how to assess the most appropriate and reflects the market if the price is close to the actual purchase price of the assets to the benefit of the owner. in order to be able to plan and achieve maximum utility.
1.2 Research Objectives
1. Study of factors that affect the valuation of assets, both in the hotel and the cost approach of the income.
2. Comparative Valuation Type the approach of cost and the income approach to appraisal conducted in the appropriate fields to final assembly.
Considered loans of financial institutions
1.3 Scope of Research
1. contextual factors that affect the assets of the hotel. 2. How is the standard professional ethics
1.1 The approach of cost (cost approach) to the replacement cost is the appraiser determine the basis of the replacement cost (new replacement cost) or cost of production (new reproduction cost) less the depreciation will be valued according to its condition. The property value of the land plus the value of the property.
1.2 How the income (income approach) how the income is used in the calculation of net income per year is expected to be in the future and returned to their present value, which must be estimated revenue allocation. terms and conditions This way, the rate of return will need to know the market very well and know that demand. And supply are likely, however, which is the basic formula to calculate.
Value = Net income / yield.
International standards of valuation are 3 ways cost approach of comparing the market and how the income subject to appraisal Type To compare the market (market approach) as a way to estimate how good one, though. Since the purchase Sale of rare star hotel is the location, size, and thus make a huge difference. Difficult to compare the size and value of the hotel to assess therefore not appropriate to compare the methods used in the appraisal of the hotel and is often seen on the valuation of the company"s assessment of the evaluation. The approach of cost and how the revenue is always for the appraisal Type the researcher to study the 2 methods to compare with the actual trading of hotel property from the agency or institution of the trade. asset management, such as Thailand (TAMC.) Fund Type to find that the price of the real market is likely close to the appraised by any means.
2.1 Factors Affecting Asset Value Type highlighted. The second valuation method is based on the cost of this method is the only revenue.
2.2 The interview comments, experts estimate. Property appraiser include the Association of Valuers Association of Valuers Thailand and appraisal management, financial institutions and mutual funds. Property
2.3 Comparison of the appraisal of two methods commonly used valuation Type is not determined the size of the hotel, the research findings of the evaluation in this study does not include the brand (brand) of the hotel on the value of assets. Hotels in the assessment method based on total revenue, cost, and how they are different ways to reflect. Type of property market value for money than the actual transaction price.
1.4 How to conduct research
1. Education and crawl factors affecting property valuations. Type of document textbook, articles, reports, theoretical concepts and related research.
2. Education and gather information about the property assessment Type of expert interviews appraiser and executives assess the collateral financial institutions directly involved in the performance appraisal hotels and analyze the data. Technical content analysis
3. Comparison of the valuation report from the Appraisal Type the approach of cost and the income approach.
Step procedure conducted research shows.
Appraisal conducted under the cost method.
1. The focus conditions (size, shape, land, land of locations.
2. Location, transportation and utilities. The construction of a building) (appraisal, property, financial institutions).
Appraisal conducted by the income approach.
2.1 Position Conditions (Revenues, costs and expenses.
2.2 Study the discount rate and the rate of return).
Finally, consider the appraisal conducted Theoretical Assessment
3.1 assess the cost of the reliability of these methods is by way of income.
3.2 Approach income over and appropriate to be applied to the credit of financial institutions.
1.5 Research Tool
1. Research is a research tool.
2. The question in an interview.
3. Data from secondary sources.
1.6 benefits expected to be derived from the research
1. Type the appraisal report, such as a financial institution, who will know the factors that affect the property value.
2. Type the appraisal report as business owners know that the financial institution will buy the assets of the hotel by way of cost and way of thinking. Of income is a way to reflect the market value of the property right of the hotel as well.
3. The financial information for decision-making and reduce the risk of financial institutions to consider lending to the property sector hotel.
1.7 Definition and vocabulary
To compare the means to assess the comparative analysis. Valuation method based on total revenue, cost, and how to compare them to decide on.
And offered for sale at the time of a part for the other part is determined by the building. Estimated cost of construction of new buildings such as the determining factors. External factors affecting the property, such as depreciation and economic conditions. How the income refers to the present value of net revenues are expected to receive. Throughout the lifetime of the assets remaining.
Property within the meaning of the Civil and Commercial Code, Section 139.
Property means land and riches attached to land a permanent or assembly of the same land, and includes property rights relating to land or treasure attached to land or assembly of the same land, which in the research. This represents a major hotel company valuation means the entity that has the purpose of evaluation or appraisal review the ordinary and has been approved by the Office of the Securities and Exchange Commission.
Appraisal means to determine or estimate.
Property by those who have the knowledge and experience or professional and acceptable to define it. Assets, property, one should be priced by how much the appraisal would be to determine the value. Estimate of the property for any period of time and the value of the land was appraised. Property is always a market which possibly say that an appraisal. Estimated market value at the trade fair appraisal refers to the practice of professional real estate appraisers. (Which, in this study only focused Appraisal Type the cost approach of thinking. From income only)