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TABLE OF CONTENTS
Page Title Page i Approval Sheet ii Acknowledgement iii Executive Summary iv List of Figures v List of Tables vi Chapter 1 Business Concept 3
Business name Business offerings Unique quality Business structure Location Business feasibility Study objectives
Chapter 2 - Situation Analysis 9
Company profile Products and services Marketing plan Management plan Operational plan Financial plan Sustainable Development Plan Company expectations
Chapter 3 Business Viability 46
Pitfalls Positives Needed Capital Entrepreneurs Role Business Plan Licensed Potential Corporate Partners Proprietary Rights Infrastructure Members
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Chapter 4 Business Schedule 54
Pre-operating period Operating period
Chapter 5 Summary, Conclusion, and Recommendation 69
Related studies Industry review Key drivers and challenges
Target market Competition SWOT Matrix Business viability
Business schedule Conclusions Recommendations
List of Work Cited 76 Appendix 77 Articles of Partnership
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Chapter 1
Business Concept
Introduction
One of the goals of the tourism industry is to provide customer
satisfaction. It means that the tourism establishments must meet the
expectations of the tourists by providing them with the best experience during
their travel to a specific destination. Their trip doesn't end until they go back to
their own homes. It doesn't matter what activities they did along the way as long
as at the end of their journey, they have the best experience and a big smile on
theirfaces.
In line with this, the group has decided to put up a Bed and Breakfast Inn
in Tagaytay City, in order to complement the tourists experience. Most tourists
are far from the destination so majority of them go home early and miss out some
of the fun and the fireworks. The group wanted to put up the Bread and Breakfast
establishment to provide comfort and accommodation to the tourists going to
Peoples Park and Picnic Groove. So through the Bed and Breakfast
establishment, the tourists will no longer worry about missing out the fun and
travelling for such a long time just to get a nap or short sleep. Instead, they can
stay as long as they want and just check-in at our inn afterwards, have a
goodnight sleep and eat breakfast in the morning.
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Some hindrances are the ones that block in completing the tourists
experiences. By putting up an accommodation at Tagaytay City, this will stop the
hindrances and fill the missing components of the tourists experience. Not only
does this inhibit the blocks but it also opens up a whole new different experience
to the tourists.
To identify the specific group of tourists a bread and breakfast will pursue,
the group will use the Segmentation process. It is the process of segmenting a
large market into smaller groups based on Demographic, Geographic,
Firmographic, Behavioural, and Occasion.
Since the establishments purpose is to provide accommodation to
Tagaytay City goers, they are the main target market. Other than the Tagaytay
City goers, we are also pursuing another target market based on geographic
location is the employees working at the companies nearby. In case of the
demographic aspect, our target market would be families and groups of friends
so the rooms of our establishments should accommodate at least four people per
room. While in terms of benefits, the quality of the amenities and facilities must
be satisfying and the prices must be affordable to reach the potential target
markets.
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Antheias Garden Inn
The name of the business is Antheias Garden Inn. Antheia is the Greek
goddess of gardens, flowers, swamps, and marshes. The Inn proudly showcases
the rich flora of the province of Laguna creating an ambiance of nature.
Antheias offerings
The Inn offers the following services:
Twenty three garden-themed bedrooms
3 Single 1 single bed
5 Double 1 queen size bed
5 Twin 2 single beds
5 Triple 1 queen + single size bed
5 Quadruple 2 queen size beds
Additional mattresses are available with additional cost.
Complimentary breakfast
Restaurant
Room service
Designated smoking area
Laundry facilities
Air conditioned room
Crib available
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Bathroom
Hot and cold shower tap
Balcony
Unique Quality
The unique features of the Inn are the following:
Each room is garden themed;
At the back of the inn, overlooking the balcony, is a stunning garden filled
with different trees, beautiful flowers, and a pond filled with fishes to relax
the guests from the hustle and bustle of the city life;
La-Z-Boy chair in each room; and
A grand piano in the parlor
A grand piano in the lobby keeping it classic and elegant
Mini park,
Organic mini farm
Make-your-own-salad bar
Pick-your-own-veggies
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Antheias Business Structure
Antheias Inn is owned and operated by a corporation composed of four
people who agree to invest money, labour, and skill in the business.
Location
Antheias Inn is located in 445 Tagaytay-Calamba Road, Barrio Sungay
West Tagaytay City 4120 Philippines. It has a land area of 800 square meters.
The location is approximately 1 to 2 km away from the popular Peoples Park and
Picnic Groove.
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Business Feasibility
Based on the initial data, Antheias Garden Inn is a feasible business because
there is a potential high demand from the market for an accommodation
considering it is one of the most popular tourist destinations in the country,
Tagaytay City. According to research, as tourist arrival averages more than
2,000,000 per annum, there is a high demand for more lodging facilities. Tourist
arrival of the City increased from 915,925 in 2001 to 2,006,571 in 2006 or an
increase of 119.07 percent.
Objectives of the Study
The study aims to determine the feasibility of Antheias Garden Inn in
Tagaytay City. Specifically, it aims to answer the following questions:
1. What is the profile of the accommodation business in Tagaytay City, in
terms of the following?
Products & Services offered
Pricing
Marketing strategy
2. Is Antheias Garden Inn feasible?
3. What is the business plan of Antheias Garden Inn?
4. What are its strategies to meet its goals?
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Chapter 2
Situational Analysis
This chapter discusses the company profile, products and services,
marketing plan, management plan, operational plan, financial plan, sustainable
development plan, and the store expectations.
Antheias Profile
. Antheias Garden Inn showcases the rich flora of Laguna that creates a
refreshing ambiance of nature. Itis inspired by the Greek goddess of gardens,
flowers, swamps, and marshes. Figure 1 shows the logo of the Inn.
Figure 1. Logo of Antheias Inn
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The logo of Antheias Garden Inn promises to Bring Families Together. It
also emphasizes the conservation of nature, starting with its architectural design
that harmonizes with the environment.
Vision
Antheia Garden Inn aims to be a model of Filipino value anchored in
strong family bonding while maintaining profitability and conserving the
environment.
Mission
In order to achieve its vision, Antheias mission is as follows:
People: Be a great place of work where people are inspired to be efficient
and good performance are properly rewarded.
Profit: Sustain long-term return of investment.
Productivity: Be a highly effective, lean and fast-moving establishment.
Partners: Nurture a winning network of customers and suppliers and
create a mutual and enduring value.
Environment: Conserve the environment.
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Core Value
The core values of Antheia are the following:
Leadership: The courage to shape a better future
Passion: Committed in heart and mind
Quality: What it does, it does well
Products & Services
The products & services of Antheias Inn are the following:
Garden-themed bedrooms
The group planned to design each room with different ambiance and
atmosphere of a garden. It aims to entice guests to come back for a different
experience in each room. All rooms are equipped with air-conditioning,
bathrooms with the availability of hot and cold taps. Additional mattresses will be
available but with additional cost. Table 1 shows the number of rooms of Antheia
and their descriptions.
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Table 1
Number of Rooms of Antheia and Their Descriptions
There will be 23 rooms that are available to all guests. It consists of three (3)
single rooms, five (5) double rooms, five (5) twin rooms, five (5) triple rooms, and
five (5) quadruple rooms. All room rates are inclusive of Filipino plated breakfast
and are following customer-based pricing strategy.
The profile of the rooms is the following:
1. A single room is recommended for a guest who is travelling alone. Figure
2 shows the interior of a single room.
Figure 2.Interior of a Single Room
Number of rooms Room Type Number of beds
and size Rates
# of
guests
3 Single 1 single bed Php2,360.00 1
5 Double 1 queen size
bed Php3,430.00
2
5 Twin 2 single beds Php3,180.00 2
5 Triple 1 queen + 1
single size bed Php4,260.00
3
5 Quadruple 2 queen size
beds Php4,500.00
4
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Its amenities includes a mini bar, safety deposit box, two complimentary
bottles of mineral water, laundry bag, slippers, toiletries, air-conditioned,
and 24 flat screen television
2. A double room is recommended for married couples traveling together.
Figure 3 shows the interior of a double room
Figure 3.Interior of a Double Room
Its amenities includes a mini bar, safety deposit box, two complimentary
bottles of mineral water, laundry bag, slippers, toiletries, air-conditioned,
and 24 flat screen television
3. A twin room is recommended for friends traveling together or additional
room for families. Figure 4 shows the interior of a twin room.
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Figure 4.Interior of a Twin Room
Its amenities includes a mini bar, safety deposit box, two complimentary
bottles of mineral water, laundry bag, slippers, toiletries, air-conditioned,
and 24 flat screen television
4. A triple room is recommended for married couples with one kid. Figure 5
shows the interior of a triple room.
Figure 5.Interior of a Triple Room
Its amenities includes a mini bar, safety deposit box, two complimentary
bottles of mineral water, laundry bag, slippers, toiletries, air-conditioned,
and 24 flat screen television
5. A quadruple room is recommended for families traveling together. Figure 6
shows the interior of a quadruple room.
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Figure 6.Interior of a Quadruple Room
Its amenities includes a mini bar, safety deposit box, two complimentary
bottles of mineral water, laundry bag, slippers, toiletries, air-conditioned,
and 24 flat screen television
Restaurant
The restaurant is also managed by the Inn and has a different department.
It will have a menu of the day with a pricing system based on the head chef.
Figure 7.Interior of Restaurant
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Figure 8.Make Your Own Salad Bar
Organic Farm
What sets us aside from other establishments is that our ingredients are
always fresh. Our make-your-own-salad bar will boast its freshness and
on the top quality.
Housekeeping
This department is responsible in maintaining the cleanliness of the whole
vicinity. It provides the needs of the guests inside the rooms (including
laundry services, crib for kids).
Amenities
Balcony
A balcony is provided in each room so the guests can relax and set their
minds off with their problems and just be one with nature.
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Figure 8.View from the Balcony of each Room
Mini-park
To enjoy more the nature, it encourages its guests to walk with the whole
family and feel the fresh air. They also have the option to have their meals set
within the park.
Figure 9.View of the Mini Park
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Family activities
Antheia will provide its guests with various sports equipment for its various
activities. Table 2 shows the different sports equipment.
Table 2
Sports Facilities and Rental Price
Sports Equipment Price
Biking 70/head (any type of bike)
Table tennis Free for the first hour; 50/hr.
Kite flying 50/kite
Traditional Spa; whole body (for 18
and above)
500/head
Pool Free
Playground Free
Figure 10.Playground
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Playground equipment features swings, fitness & freestanding items and is
constructed from the highest quality materials. We believe that a playground is
so much more than just a playground, so it was designed specifically to promote
child development through family bonding or activities.
Figure 11.Pool
Our pool was designed for both kids and adults to enjoy swimming together. It is
divided into 2 parts; one is 2 feet high for the kids and the other is up to 6 ft. Also,
the management value the safety of its guests; therefore we have a lifeguard on
a day to day basis.
Figure 12.Spa
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Our traditional spa provides a serene and truly unmatched experience of
relaxation.
Market Segment
Antheian will use the segmentation process to identify its target market. It
is the process of segmenting a large market into smaller groups based on
demographic, geographic, firmographic, behavioural, and occasion type.
The market segment of Antheia is based on psychographic style. Its
market is people whose lifestyle is to go out from their normal environment and
relax in a private place surrounded by nature during their freetime. It will target
foreign and domestic corporations, organizations, schools, families, and friends.
The demographic type of the target market segment is from 4-40 years old.
The inn also targets company employees within the vicinity of the location.
Some employees need to work overtime and stay out late so to ease their
dilemmas of going home late and groggy; the inn is open and available for them
to have a comfortable and peaceful sleep.
The products and services of Antheias Inn will penetrate the target market
and will be promoted through e-mails, posters, videos, flyers, cards and direct
mails to companies.
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Marketing objectives
It is forecasted that Antheia will have a balance of payment in the first year of
its operation. However, a modest growth of 20% is expected in the 2nd and third
year and a 30% growth is expected in the 4th and 5th year of its operation. Table
3 shows the objectives of Antheia.
Table 3
Marketing Objectives of Antheia
Year 1st quarter 2nd quarter 3rd quarter 4th quarter
2014-2015 Sales growth
by 5%
Reduce
expenses by
5%
2015-2016 Sales growth
by 10%
Stable income Reduce
expenses by
5%
Target market
share by 5%
2016-2017 Sales growth
by 10%
More
incentive by
5%
Stable income Reduce
expenses by
10%
2017-2018 Expansion Target market
share by 10%
Sales growth
by 10%
Sales growth
by 5%
2018-2019 Reduce
expenses by
5%
Sales growth
by 5%
Sales growth
by 10%
More
incentive by
5%
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The steady growth of Antheia could be achieved through strong advertising
and promotion, keeping profitable customers loyal to Antheia.
The objectives of Antheia are the following:
Focus on the needs of its customers and franchise partners;
Sustain profitability:
Listen, observe and learn from the market;
Possess a global perspective;
Be accountable for its actions and inactions;
Reward employees for taking risks and finding better ways to solve
problems; and
Learn from our outcomes -- what works and what do not work.
Marketing strategy
Strategy planning
In order that Antheia will achieve its objectives, it will make sure that its
customers are always satisfied. Customer satisfaction can only be achieved once
their expectations have been met. Hence, Antheia will regularly listen to its
customers comments and suggestions and address all those comments.
At this point, the role of its employees is very important. Since the
employees are the front runners of Antheia, it is also important that Antheias
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listens to their needs and address them. Only happy employees can satisfy
customers.
Internal environment analysis
Antheia has various capabilities and weaknesses. Table 4 shows the
strengths and weaknesses of Antheia.
Table 4
Antheias Strength and Weaknesses
Strengths Weakness
Clear vision, mission, goals, and
objectives
Capability of the employees to
adjust to the vision, mission,
goals, and objectives of Antheia.
Strong resources support
Customer-oriented employees
Program Development for
employees
Strong corporate partners
Table 5 shows the strengths and weakness of Antheia. It has five
strengths ranging from clarity of its vision, mission, goals and objectives that will
serve as guide to the direction of Antheia on what they want to be in the future
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have already old habits which have been formed by their culture and experience.
The old habits of employees do not normally appear during the six-month training
period of the employee but it usually appears once they have been regularized.
External Environment Analysis
Antheia has various opportunities and threats as a start-up corporation
Table 5 shows the opportunities and threat of Antheia.
Table 5
Antheias Opportunities and Threat
Opportunities Threats
Big market opportunity Many competitors
Stable local politics Natural calamities
Stable inflation rate
Table 6 shows the opportunities and threats to Antheia. Its opportunities
include the big market opportunity based on the big volume of foreign and
domestic tourists that visit Peoples Park; there is also a stable political situation
in Laguna; finally, the inflate rate is stable with people having enough extra
money to spare for relaxation. However, it has also to overcome various threats
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like the big number of competitors in the area and the natural calamities that
affect the behaviour of the foreign and domestic tourists.
Antheias Goal
Antheias Inn is committed to be the model of bringing families together
while at the same time maintain financial profitability and conserving nature.
Table 6 shows the diagram of the Antheias goal in relationship to its strategies.
Table 6
Diagram of the Antheias Goal in Relationship to its Strategies.
Antheias five goals are the following
1. Maintain core family values
2. Sustain its financial profitability
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3. Conserve the environment
4. Support the needs of its employees
5. Listen to the needs of its target market segment
The said goals must be shared by everyone in Antheia starting from the
Board of Directors, Senior and Junior management, and staff so that everyone is
moving towards one direction and one culture.
Strategy formulation
In order to attain its goals of Antheia, the costs of its products and services
will be competitive with its competitors, but it will offer more amenities and
activities than others that address the needs of its target market segment.
Program formulation
The following support programs will be used to achieve the strategic plan
of Antheia:
Recruitment Program
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There are a lot of ways to recruit the right employees for Antheia. For the
Inns program of recruitment they made a list of effective strategies to find people
fit at the kind of work they offer. Table 7 shows the various strategies of Antheia
to recruit the right employees.
Table 7
Strategies of Antheia to recruit the right employees
Training Program
Strategy Description
Online
Recruiting
Firm looks a certain percentage of employees using the
internet through ads, social media, and other forms of
modern technology.
Targeted
Recruitment
Firm looks a certain skill of a person. There are times
when such skills are needed.
Word of Mouth
The employees themselves recruit people because of the
performance of the firm and because they are happy
working at the company.
Internships
The firm accepts on-the-job trainees. If the trainees are
excellent wand wants to keep on working, they can be a
full-time employer.
Job Fairs The firm can find potential employees through job fairs
held at specific universities and fields.
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The newly recruited employee will undergo a training program. This is to
determine the skills of the employees if what they can do fits the needs of
Antheia.
Fringe Benefits
The fringe benefits are given to employees who perform an extraordinary task
to help build the image of Antheia. The benefits are given to employees to
motivate them. Some of the fringe benefits given by Antheia are the following:
Retirement plans, Life Insurance, Health Insurance, and SSS.
Implementation
Based on its program formulation, Antheia will be able to retain the best
employees suited for the job and needed by Antheia. It has also the needed
budget to ensure the steady growth of its employees.
Feedback and control
Antheia will establish a marketing information system that will enable it to
monitor important information relevant to the success of the business such as the
feedbacks of its customers and the actions taken by Atheian, to address the
issues; profile of its customers and the things they like about Antheia; and lists of
suppliers and competitors.
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Antheia's Garden Inn
Travel Agency
Consumer
Distribution channel
Since Antheia caters to both foreign and domestic tourists, it will establish
a consortium among travel & tour agencies for its foreign market segment and
with the local travel agencies for its domestic tourists. Table 8 shows the
relationship among Antheia, travel & tour agency, and local agencies.
Table 8
Relationship among Antheia, Travel & Tour Agency, and Local Agencies
Pricing strategy
Antheias pricing strategy is Customer-Based pricing. According to Jim
Riley, pricing is determined by what the firm believes the customers will be
prepared to pay for the products and services. Antheia follows this type of
pricing strategy, because it is a service-based business where the goal is to
satisfy the customers wants, needs and expectations.
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0
10000
20000
30000
40000
50000
60000
2016 2017 2018 2019
Revenue
Antheia forecasts its revenue to grow by 20% each year. Table 9 shows
the revenue forecast of Antheia.
Table 9
Revenue Forecast
Table 9 shows that by 2016 the net revenue of Antheia is P 20 000, in
2017 it will be at 25 000, 2018 at 35 000, and in 2019 at 45 000. The
management truly believes that our business has nowhere to go but up. With the
full effort of their competencies, abilities and skills of the whole management, our
business will be profitable.
Table 10
Sales Quota per Quarter for the Years 2016-2017
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Sales Quota (Volume-
based)
Objectives
Year 2016
Sales growth rate
1stQuarter 15 families Making sure that every
service or product
becomes profitable
2nd Quarter 20 families Cultivate bloggers and
Get published online
3rd Quarter 20 families Distribute flyers all
throughout Metro Manila
4th Quarter 20 families Maintaining a healthy
relationship with suppliers
Year 2017
Sales growth rate
1st Quarter 30 families Expansion
2nd Quarter 30 families Decreasing the expenses
without harming the
quality of a certain service
or product
3rd Quarter - 35 families Maintaining a healthy
relationship with suppliers
4th Quarter 40 families Join conventions
Based on its revenue forecast, Antheia will set the quota for each quarter. Table
10 shows the sale quota for the years 2016-2017.
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Marketing Budget
The management would invest approximately P100,000 for the marketing
budget of Antheia. A mix of marketing strategy will be designed to create
awareness to its target market segment. The media to be top for the job are the
following:
o Print media - local newspapers, magazines, flyers
Broadcast media local commercials, radio advertisements
Online media Advertisement through social web pages such as
Facebook, twitter, YouTube, blogs and as well as our own website
Direct mail - subscriber lists, offices for delivery
Partnershippartnership with other establishments such as travel
agencies, hotels, motels and inns, the local government unit
Summary
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Antheias Garden Inn proudly showcases the rich flora of Laguna that
creates a refreshing ambiance of nature. As a start-up corporation, it will be
owned and managed by its Incorporators.
Antheias Garden Inn offers the following services: Seven garden themed
bedrooms, Air-condition room, Bathroom with hot and cold shower, 24-hour room
service, Free Wi-fi in each room, Garden balcony, Restaurant, Complimentary
buffet breakfast, Laundry facilities, and Parking area. Some of the unique
qualities of are the following: Garden themed room, Garden balcony, La-Z-Boy
chair in each room, Playground for children (Free for in-house guests).
It will target foreign and domestic corporations, organizations, schools,
families, and friends. The demographic type of the target market segment is from
4-40 years old.
The media it will top for the job are the following: Print media, broadcast
media, online media, and direct mail.
Management Plan
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A management plan is our guide for the organization to run, both day-to-
day and over the long term. Antheias Garden Inn exists to fulfil its commitment in
Bringing Families Together while emphasizing the conservation of nature.
The management consists of different departments with their own sets of
responsibilities, however we practice Collaborative management. A Collaborative
management is where the whole group -- which usually includes all staff and may
include participants as well -- takes part in major decisions, and everyone takes
part in decisions which affect her directly. At the same time, everyone has
enough authority to fulfil her own responsibility and do her job effectively. This
practice allows everyone to feel a sense of ownership in the organization.
Operational Plan
Table 11
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Organizational Chart
The organization consists of 1 general manager to oversee the day-to-day
business operations, 1 accounting head and 1 staff to handle all finances of the
organization, 1 Human Resource Head to handle
the attraction, selection, training, assessment, and rewarding of employees and 5
departments to attend the needs of the guests.
Financial Plan
The initial capital requirement of Antheia is twenty million pesos (P20, 000,
000).
Table 12
Start-up Costs
General Manager
Human Resource
Manager
Accounting Head
Security and
Maintenance
Head
Sales and Marketing
Head
Food &
Beverage Head
House Keeping Head Front Office Head
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Item Cost Expected Life
Land Php 1,840,000.00 30 yrs
Building 5,000,000.00 25 yrs
Mattresses, sheets,
blankets, etc.
1,500,000.00 3 yrs
Smoke detectors 10,000.00 5 yrs
Kitchen Equipments 500,000.00 10 yrs
Entrance signs 3,000.00 2 yrs
Decorations 100,000.00
Garden 200,000.00
First Year Costs
Legal fees 3,000.00
Promotions, Advertising 80,000.00
Supplies
Security Php 15,000.00
Total Php 9,251,000.00
Table 12 shows the start-up capital of Antheia.
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Table 11 shows the start-up expense is Php 9,251,000. The start-up
expenses includes the following: Land, building, mattresses, sheets, blankets,
smoke detectors, kitchen equipment, entrance signs, decorations, garden
landscape, legal fees, promotions and advertising, office supplies, and security. If
it is deducted from the initial capital, what will be left isPhp10, 749,000.
The balance sheet presents the financial position of Antheia. It shows
what the Antheia owns and what it owes to other parties. Table 12 shows the
projected balance sheet of Antheias Garden Inn.
Table 13
Antheias Balance Sheet
Current assets
Cash Php 10,749,000.00
Short-term Investments 30,000.00
Accounts Receivables 10,000.00
Prepaid Rent 6,000.00
Total Current Assets Php 10,795,000.00
Property, plant and Equipment Php 2,328,000.00
Land and Building 6,840,000.00
Property and equipment Php 9,168,000.00
Long-term Investments 60,000.00
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Other Assets 15,000.00
Total Assets Php 20,038,000.00
Liabilities
Current liabilities
Note Payable Php 1,500,000.00
Accounts Payable 2,000,000.00
Accrued wages 2,470,000.00
Taxes payable 50,000.00
Total Current liabilities Php 6,020,000.00
Long-term debt Php 4,000,000.00
Owners Equity
Total owners equity Php 10,018,000.00
Total Liabilities and owners equity Php 20,038,000.00
The balance sheet consists of three parts: The first part is the assets
where it identifies what Antheia owns. It includes the resources of the company
that has been obtained through transactions and the costs paid in advance that
have not yet reached its expiration; the second part is the liabilities where it
shows the amounts owed by Antheia to its creditors. It is the obligation of the
company made through past transactions and deals with the other parties;the
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last part is the equity. It is the source of the companys assets. It is the amount
contributed by the owners and the retained earnings.
Antheias income statement shows the projected income statement of the
business. It measures the financial performance of Antheia over a year. Table
13shows the Income statement of Antheia.
Table 14
Income Statement
Sales Php 15 ,000,000.00
Cost of Good Sold Php 1,200,000.00
Gross Profit Php 13 ,800,000.00
Operating Expense
Wages Php 100,000.00
Utilities Php 1,000,000.00
Rent Php 72,000.00
Equipment Php 1,800,000.00
Total Expenses Php 2,972,000.00
Nonrecurring events
Discontinued Operations N/A
Extraordinary Items N/A
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Effect of Accounting changes N/A
Other Items N/A
Net Income Php 1,828,000.00
It is divided into two parts. The first part is the Operating section where it
identifies the regular business operation expenses of the Inn. The second part is
the non-operating section. It shows the expenses of the activities that are not tied
directly to a companys regular business operations.
Cash flows statement provides Inns cash receipts and cash payments. It
is the movement of money into and out of the company.Table 15 shows the
projected cash flow statement of the Inn.
Table 15
Cash Flow statement
Operating Activities
Cash receipts from customers Php 4,000,000.00
Cash paid for
Inventory purchases Php (1,000,000.00)
Wage Expenses Php (100,000.00)
Interests Php (150,000.00)
Income Taxes Php (200,000.00)
Net Cash flow from Operations Php 2,550,000.00
Investing activities
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Cash receipts from Php 600,000.00
Sales of property and Equipment
Cash paid for
Purchase of property and Equipment Php (200,000.00)
Loans to other Entities Php (100,000.00)
Net Cash flow from Investing activities Php 300,000.00
Financing Activities
Cash receipts from
Issuance of stocks
Borrowing
Cash paid for
Repayment of loans Php 75,000.00
Net Cash flow from Financing Php (75,000.00)
Net Increase in Cash Php 2,325,000.00
There are three components of a cash flow statement. The first
component is the Operating activities where it shows the cash generated from
the daily operations of the business. The second component is the investing
activities where it shows the buying and selling of noncurrent assets that is used
in generating revenues. And the third component is the financing activities where
the borrowing and repaying of money is shown.
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Financial Ratios
Gross Profit Margin
13000000 =
0.92 15000000
The gross profit margin indicates the business financial health. It is
computed by dividing Gross margin profit to sales. The projected margin for the
venture is 80%. This means that the higher percentage the more the business
retains its sales.
Current Ratio
10795000 = 1.79318936877076
6020000
The current ratio provides the companys ability to pay its short-term
liabilities. It is computed by dividing current assets to current liabilities. The
higher the ratio, the more capable the company is of paying its obligations.
Fixed Asset Turn-over
15000000 =
1.636125654 9168000
43
The Fixed Asset turnover measures the ability of the company to generate
sales from the fixed assets. It is computed by dividing sales to total fixed assets.
The higher the ratio the more effective are the equipment
Total Assets Turnover.
15000000
= 0.748577702 20038000
The Total Assets Turnover measures the efficiency of the company to use
its assets to generate sales. It is computed by dividing sales to total assets.
Sustainable Development Plan
Environmental
For the next few years the Inn plans to sustain the beauty of its
environment through planning the strategies for the environmental sustainability.
According to Smallbiz connect, environmental sustainability is the action by
which natural resources are protected, preserved and nurture in order to increase
its capability to support human life. It concerns decision making on matters that
will decrease the negative impacts of the inn to its nature.
44
In order to protect and increase positive response from nature, Antheias
Garden Inn will practice environmental sustainability by taking care of the garden,
using organic food for guests, powering facilities with renewable energy sources,
conserving water, recycling, waste reduction, and more actions that could help in
preserving and protecting nature.
Economic
According to WiseGeek, Economic sustainability is the plan where the
resources of a company are used to the very best of its advantage. It means the
resources are used responsibly and efficiently to generate profit consistently.
Now that Economic sustainability is defined, the Antheias Garden Inn
plans to pursue this through taking advantage with modern technology, use of
wood and forestry products, distribution of locally produced foods, taking care of
the facilities, collaborating with a good company and a lot more practices that can
help in generating more income for the venture.
Equity
To Sharon Beder, Equity sustainability talks about fairness. It means being
fair, equal and just to all aspects of the venture. It talks about people having
45
equal access to the resources and opportunities ahead of them. Sharon Beder
emphasized that no individual should be greater than the other.
True Equity can be maintained by being fair, just, and equal with people.
No discrimination should be permitted in every organization. Having dedication is
also one practice on how to maintain equity, partnership, stewardship, and many
more that can lead to better, harmonized and united organization.
Antheias Expectations
Antheias Garden Inn expects that in its first year of operation, it will have
a balance of payment. It means that its revenue is equal to its expenses.
However, in the succeeding years, in the next two years, it will create a revenue
of 10-15%, and in the succeeding three years, it will grow by 30% as it gain loyal
and profitable customers from its target market segment and new customers.
The management also considers an expansion after all quotas and target
sales growth is achieved. By 2017, an evaluation will be done and re-assess the
planning.
46
Chapter 3
Business Viability
The chapter discusses the pitfalls, positives, needed capital,
entrepreneurs role, corporate partners, proprietary rights, and infrastructure
members of the study.
Pitfalls
Some of the possible drawbacks of the business are the following:
Sustaining the motivation of the employees
One of the drawbacks of Antheia is on sustaining the capability of its
employees to adjust to the vision, mission, goals, and objectives of Antheia.
Antheia will address this drawback by support the Employees Development
Program in order to build a culture of service in the company.
Many competitors
There are many competitors in Sta. Rosa, Laguna. Antheia will address this
issue by lowering the cost of its products and services by 5% against its lead
competitors during the first year of its operation in order to attract its tssegment
47
and change their buying behaviour once they have experienced the products and
services of Antheia.
Natural calamities
Philippines has over 25 typhoons every year. This means that the occupancy
rate of Antheia will drop during every typhoon. Antheia will address this challenge
by offering promo rates and man-made activities that suit its loyal customers
such as a concert by a popular artist or band.
Positive
Some of the strengths of Antheia internally are the following:Clear vision,
mission, goals, and objectives;Strong resources support;Customer-oriented
employees;Program Development for employees;and Strong corporate partners.
Externally, some of the strength of Antheia are the following: Big market
opportunity; Stable local politics; and Stable inflation rate.
Needed Capital
In order for Antheia to start its business, it needs its capital of twenty
million pesos (P20, 000, 000). Its capital comes from the following sources:
48
investment from its Incorporators, loans from banks, community lenders and
online lenders. Table 16 shows the start-up capital of Antheia.
Table 16
Start-up Costs
Item Cost Expected Life
Land Php 1,840,000.00 30 yrs
Building 5,000,000.00 25 yrs
Mattresses, sheets, blankets, etc. 1,500,000.00 3 yrs
Smoke detectors 10,000.00 5 yrs
Kitchen Equipments 500,000.00 10 yrs
Entrance signs 3,000.00 2 yrs
Decorations 100,000.00
Garden 200,000.00
First Year Costs
Legal fees 3,000.00
Promotions, Advertising 80,000.00
Supplies
Security Php 15,000.00
Total Php 9,251,000.00
Table 16 shows the start-up expense is Php 9,251,000. The start-up
expenses include the following: Land, building, mattresses,sheets,blankets,
49
smoke detectors, kitchen equipment, entrance signs, decorations, garden
landscape, legal fees, promotions and advertising, office supplies, and security. If
it is deducted from the initial capital, what will be left is Php10, 749,000.
Entrepreneurs Role
The role of the entrepreneur is very significant in the success of Antheia.
Table 16 shows the different role of the entrepreneur.
Table 17
Entrepreneur Role
Position Job Description
General Manager
Camille Castillo
She is the direct overall manager of the various
departments. She manages stakeholder relations,
manages community relations, and ensures that the
strategic goals and objectives of the business are
realized. She does the overall implementation of the
business plan
HR Head
Akimi Ferrera
The HR head takes care of all the employees. This
includes hiring, firing, giving out salaries and making sure
that the employees are working hard and are doing a
great job.
50
Reception /Front
Office Head
Isabella Diaz
In this position, the head takes care of everything on the
reception. The person assigned must maintain the
organization of keeping the records and making sure that
everything is under control in bookings, reservations,
checking in/out, inquiries and guests payments
Housekeeping
Head
Arvee Pacag
She ensures that accommodation is clean, well
maintained and attractively presented. She controls a
budget, manages stock and orders supplies
General
Manager
Accounting
Head
Human
Resource
Manager
Front Office
Head
House Keeping
Head Food &
Beverage
Head
Sales and
Marketing Head Security and
Maintenance
Head
51
According to Tim Berry, A business plan is any plan that works for a
business to look ahead, allocate resources, focus on key points, and prepare for
problems and opportunities.
This helps the new venture to look ahead and guides the business to stay
on track and lead them to the future the owners want it to be. The key points that
should be further discussed in the business plan are the products, services,
marketing, and branding. There should be a more detailed outlook on what the
business wants to happen with their products and services in the near future.
Furthermore, the new venture should have plans for the future on how to improve
their marketing strategies and branding to be flexible on the changes that may
occur for the next few years.
Licenses from:
Securities & Exchange Commission
Department of Trade & Industry
Bureau of Internal Revenue
Business Permit
Accreditation from the Department of Tourism
Corporate Partners
52
Corporate Partners:
Department of Tourism
Philippine Tour Operators
Philippine Travel & Tour Association
Guides Incorporated
Travel & Tour Agency
Local & Domestic Travel and Tour Agency
DOT Accredited Hotels
DOT Accredited Restaurants
DOT Accredited Transport Groups
Philippine Tourist Transport Operators
Table 18
Corporate Partners of Antheia
Company Name Address Contact
No.
The Linden Suites 37 San Miguel Avenue, Ortigas Centre, Pasig 1600 (02) 638
7878
Villaraza & Angangco
Law Offices
CVCLAW Center 11th Avenue, Ccorner 39th Street
Bonifacio Triangle, Bonifacio Global City
Metro Manila Makati City
(63 2)
988-6088
53
1. The CEO of Linden Suites is a relative of one of the owners of Antheias
Inn. They made an agreement that they will support and help one another
in promoting and creating accommodation.
2. Villaraza & Angangco Law Offices helped Antheias Inn by assisting in
certain government papers and mainly building up the inn.
Infrastructure Members
The infrastructure members of Antheia includes: Lawyers who will help it
on legal matters; Architect and engineers who will help it in the design and
decoration of the Inn; Accounts who will help it in managing its financial
operations; and a professional hotel consultant who will guide the owners in
matters pertaining to the operations of the Inn.
54
Chapter 4
Business Schedule
Timetable of the project
I. Operating Period
Table 19
Departments Person in charge Number of
staff
General Manager Camille Angeline Castillo
Human Resource Dept. AkimiFerrera
(Human Resource Manager)
3
Front Office Dept. Isabella Diaz
(Front Office Head)
3
House Keeping Dept. ArveePacag
(House Keeping Head)
8
Food and Beverage Dept. Stephanie Kim Apo
(Food and Beverage Head)
8
Sales and Marketing Dept. Erika Louise Fernandez
(Sales and Marketing Head)
3
Accounting Dept Jenny Jane Ramayan
(Accounting Head)
2
55
Security and Maintenance
Dept.
DennAldrinCruzado
(Security and Maintenance
Head)
4
Organizational Chart
General Manager
Human Resource
Manager
Accounting Head
Security and
Maintenance
Head
Sales and Marketing
Head
Food &
Beverage Head
House Keeping Head Front Office Head
56
Duties of each Unit Management Personnel
Table 20
Position Roles and Responsibilities
General Manager Direct overall management of the various departments
Manage stakeholder relations
Manage community relations
Ensure that the strategic goals and objectives of the business
are realized
Manage the brand of the Bed & Breakfast
Report to concerned stakeholders on the performance of the
business
Brand affiliation management
Attract new business to the Bed & Breakfast
Provide input regarding local business community needs
Charity events and fund raising at the Bed & Breakfast
Overall implementation of the business plan
Human
Resources
Manager
Working closely with departments, increasingly in a
consultancy role, assisting line managers to understand and
implement policies and procedures
Recruiting staff: this includes developing job descriptions,
preparing advertisements, checking application forms, short
listing, interviewing and selecting candidates
Promoting equality and diversity as part of the culture of the
57
organization
Liaising with a wide range of organizations involved in areas
such as race relations, disability, gender, age, religion, and
health and safety
Developing policies on issues such as working conditions,
performance management, equal opportunities, disciplinary
procedures and absence management
Advising on pay and other remuneration issues, including
promotion and benefits
Undertaking regular salary reviews
Negotiating with staff and their representatives on issues
relating to pay and conditions
Administering payroll and maintaining records relating to staff
Interpreting and advising on employment legislation and
implementing disciplinary procedures
Developing, with line managers, HR planning strategies, which
consider immediate and long-term staff requirements in terms
of numbers and skill levels
Planning and delivering training, including inductions for new
staff
Analyzing training needs in conjunction with departmental
managers
58
Front Office
Manager
To ensure that guests are greeted, checked in and allocated
rooms promptly and courteously
To ensure that check-in procedures are strictly adhered to and
that the correct address and charge out details are obtained from
each guest
To be readily available at all times to deal with problems or
complaints
To ensure that rooms are serviced and maintained to the
standards laid down by Extravagant Luxury Bed & Breakfast
To ensure maximum room occupancy within agreed overbooking
policy
To ensure that reservations are taken correctly and courteously
To ensure effective liaison between reservations and front office
staff with other departments (e.g. housekeeping)
To ensure that all charges are correctly entered on the guest's bill
and that this is up to date at all times
To ensure that credit control procedures are strictly adhered to,
that no bills exceed the stipulated limit without prior approval and
that written confirmation, purchase orders, or order numbers are
on file
To ensure that accounts are balanced daily
To ensure effective and speedy check-out facilities
To ensure that luggage is delivered to and collected from rooms
59
speedily
To ensure that enquiries, messages, conference bookings are
dealt with courteously and efficiently
To ensure that all front office staff are correctly and smartly
dressed at all times
To ensure that all Front Office areas are clean and tidy at all times
To ensure that newspapers and parcels are delivered to rooms
without delay
To ensure that incoming and outgoing telephone calls are
handled promptly and courteously
To ensure maximum security of all items left in safety deposit
boxes
To carry out systematic checks of all Front areas for maintenance
requirements, repairs or refurbishing, ensuring that these are
done without delay
To ensure that the Bed & Breakfast entrance is easily accessible
to cars and taxis at all times
To hold regular performance appraisals with all senior staff,
identifying areas for development and training needs and
ensuring that this training is effected
To carry out or ensure that regular On-the-Job training is taking
place to agreed standards
To hold regular meetings with all senior staff. To ensure that
60
manning levels are correct and that these are not exceeded
without permission
To ensure that the most suitably qualified person is appointed in
the event of a vacancy - wherever possible this should be an
internal promotion
To ensure maximum security in all areas
To act as Duty Manager when required
To attend Management Meetings as required
To circulate regularly throughout all front areas, maintaining a
high profile with guests and staff
To ensure accurate and timely submission of all reports as well as
administrative work
To monitor trends within the industry and make suggestions how
these could be implemented
To be familiar with all local rules and regulations
To ensure that staff under his/her control are trained in safety and
security measures
House
Keeping
Manager
Ensuring that accommodation is clean, well maintained and
attractively presented
Controlling a budget, managing stock and ordering supplies
Liaising with reception services to co-ordinate the allocation of
accommodation
Liaising with other departments, e.g. the kitchen, to arrange room
61
service;
Arranging laundry and linen supplies
Planning staff rotas
Arranging repairs and maintenance
Recruiting, training and supervising teams of room attendants
Inspecting to ensure that all aspects of the accommodation meet
hygiene and health and safety regulations
Food and
Beverages
Manager
Organize, direct and evaluate food and beverage service
Assisting with the recruitment and training of staff in the Food
and Beverages section
Shift scheduling
Performance management; monitor staff performance and
provide feedback
Purchase and control of inventory
Monitor revenues and expenses
Ensure practice of health and safety regulations
Negotiate supplier arrangements for food and beverage
products
Negotiate with clients for use of facilities for catering, parties,
banquets, etc
Sales and
Marketing
To follow up leads by visiting prospective clients regularly,
often enough to maintain their interest but not too often to
62
Manager alienate them
To achieve budgeted sales targets
To identify prospective clients' exact needs, by questioning,
observation and the completion of a full sales survey
To entertain prospective clients, where possible combining this
with visits to existing satisfied customers
To liaise closely with operational staff on all details for a
prospective new contract and gain their agreement on all
details
To maintain communication with the clients once the contracts
are opened and show an ongoing interest in the operation
To complete a daily/weekly log of all activities
To analyze statistics so as to identify key sales areas,
problems and success rate
To research prospective client details, finding out as much as
possible about the company to ensure a professional
approach
To constantly monitor and be aware of competitor activity
To present a realistic proposal to a prospective client, having
thoroughly researched cost factors, and ensure that the
proposal is achievable
To constantly be aware of new business opportunities and
take action on these
63
Accounting Officer To accurately complete the daily, weekly and monthly
returns, submitting these timely on the prescribed format in
accordance with the Bed & Breakfasts standards
To reconcile and balance cash, floats and dockets ensuring
that these tally with daily income and expenditure
To notify management immediately of any variances in the
above
To make payments from petty cash against vouchers or
invoices
To ensure that all documentation for the receipt and issuing
of commodities is accurately completed
To inform management of any shortages, surpluses or
irregularities in connection with the above item and ensure
that queries are handled immediately
To assist with stocktaking at prescribed intervals
To extend and process stocktaking figures accurately and
timely
To ensure that cash and relevant vouchers are securely
and systematically kept
To ensure that control systems are operating effectively
within agreed parameters
To ensure that all administration is handled efficiently,
64
systematically and filed or sent to the appropriate
department without delay
To leave all desks and office in a clean and neat manner
when going off-duty
To ensure that all lockable areas are secure before leaving
the premises
To bank all monies in accordance with laid-down
procedures
To ensure that all documentation is kept securely against
fire, theft and espionage
To carry out on-the-job training at prescribed intervals
To attend meetings and training courses as required
To take part in fire drills and evacuation drills at required
intervals
Security and
Maintenance Officer
Protection of guests and workers physical well being and
health
Protection of guests properties
Employ safety training
Reduction of employee theft from rooms
Monitor activities outside the entrance of the Bed &
Breakfast
Protect storage areas
In charge of the Bed & Breakfasts surveillance systems
65
Drafting emergency plans for the Bed & Breakfast
Prepare security check list and procedures
Unit Management
Personnel
Time to be devoted
to the project and
duties
Qualifications Compensation
Camille Angeline
Castillo
8 hours per day Miriam College
graduate, BS
Leisure and
Tourism
Management,
General
Manager of
Antheias Garden
Inn
Php30,000.00
AkimiFerrera 8 hours per day Miriam College
graduate, BS
Leisure and
Tourism
Management,
Human
Resource
Php25,000.00
66
Manager of
Antheias Garden
Inn
Isabella Diaz 8 hours per day Miriam College
graduate, BS
Leisure and
Tourism
Management,
Front Office
Head of
Antheias Garden
Inn
Php20,000.00
ArveePacag 8 hours per day Miriam College
graduate, BS
Leisure and
Tourism
Management,
Housekeeping
Head of
Antheias Garden
Inn
Php20,000.00
Stephanie Kim Apo 8 hours per day Miriam College
graduate, BS
Php20,000.00
67
Leisure and
Tourism
Management,
Food and
Beverage Head
of Antheias
Garden Inn
Erika Louise
Fernandez
8 hours per day Miriam College
graduate, BS
Leisure and
Tourism
Management,
Sales and
Marketing Head
of Antheias
Garden Inn
Php20,000.00
Jenny Jane
Ramayan
8 hours per day Miriam College
graduate, BS
Leisure and
Tourism
Management,
Accounting
Manager of
Php20,000.00
68
Antheias Garden
Inn
DennAldrinCruzado 8 hours per day Philippine
College of
Criminology
graduate, BS
Criminology,
Security and
Maintenance
Head of
Antheias Garden
Inn
Php18,000.00
69
Chapter 5
Summary, Conclusions and Recommendations
The chapter discusses the SWOT, Related studies, Business Viability,
Business Schedule, Target market, Conclusions and Recommendations of the
Study.
SWOT Matrix
Strengths
Multi-lingual and well trained staff
24 hours operation
Free Wi-Fi
Cheaper
Quality Service
Weaknesses
New establishment
Opportunities
Internet/Media
Threats
Off-Season time
Criticisms
Competitors
70
Industry Review
A Bed and Breakfast is a small lodging establishment that offers an
overnight stay and a breakfast to its customers. It has an estimated worth of 3.4
Billion dollars. In USA, 17,000 inns were estimated to provide products and
services to be the desired destinations for millions of travellers around the world.
There are four forces that impacts the B&B industry. These are the economic
forces, where it changes rapidly and could have a direct correlation to the ability
of the innkeepers to operate; Technological forces, where the growth of the
digital information world helps the innkeepers to think of tactics and strategies to
gain more customers through the internet; Social forces, where the aging
population requires special attention with their accommodations and lastly the
Political forces, where taxes, labor laws and such affects the industry.
Bed and Breakfast Statistics
(based on PAII Industry Study Data)
Order the Industry Study of Inn keeping Operations and Finance today!
Performance (in medians)
Occupancy Rate 43.7%
Average Daily Rate $150
Revenue per Available Room $58
About The Inns
Typical B&B has between 4 and 11 rooms, with 6 being the average
71
29% were in rural locations, 23% were urban, 5% suburban, and 43% were
village
94% of rooms have private baths
36% have achieved an "historical designation" by a local, state or national
historic preservation organization
5,700 square feet is the average size for a B&B
93% offer free high speed wireless internet
Most inns provide the following in common areas: internet, magazines, hot/cold
beverages, board games, fireplace, refrigerator, newspapers, telephone,
cookies/cakes/candies/fruit, fresh flowers and televisions.
Most inns provide the following in guest rooms: internet, television, luxury
bed/linens, premium branded toiletries, robes, fireplaces, magazines and jetted
tubs.
About the Inn Owners
72% of inn owners are couples, 18% are individual females, 5% are individual
males, 5% are non-couple partnerships
79% of owners live on premises
Related Studies
According to Peter C. Morales, Bed and Breakfast is niche segment of the
travel industry. It is identified as a private residence that offers an overnight
72
accommodation and a breakfast. While B&Bs and Inns are often used
interchangeably, the Professional Association of Innkeepers International
differentiates the two. They said that B&B only offers breakfast while Inns may
also offer lunch and dinner. The important factors of B&B are its uniqueness and
sense of social environment. They say, that B&B owners usually loves people
and hanging out with others.
According to Highlights of the Eighth Biennial Bed-and-Breakfast &
Country Inns PAII Industry Study of Operations, Marketing, and Finance for
2002,
Average number of rooms for a bed and breakfast is 8.5, up from 8 rooms in
2000
95% of respondents offer rooms with private baths
93% 94% of inns/bed and breakfasts are non-smoking
Responding inns employ 4.6 people
42% of bed and breakfasts have meeting rooms
Most Bed and Breakfast doesnt have any employees because it is
operated by a family. According to the US Census Bureau County Business
Patterns, there were 3,042 bed & breakfast inns with paid employees (721191).
As seen in these data, not only does the Bed and breakfast help the travellers
but it also helps other people to have a job.
73
As B&B shifts their attention to business traveller, they also focus their
advertising online. Ray Coll, President of the Pittsburgh Bed & Breakfast
Association
Business Schedule
Antheias Bed and Breakfast Inn will be opened this year in the month of
March and will be very much positive in offering a lot of services to satisfy
customers needs. Why March? As the business entrepreneurs believe that this
season will be the perfect time for higher market demand and market profitability
as people go out for inns with their respective families to take a vacation and
unwind after stressful months of working.
For guests
Check-in 2:00PM
Check-out 12:00PM
Operating hours
Front office 24 hours
Room service Cleaning & Laundry 8:00 AM to 6:00PM
Food service 24 hours
Staff 8 hrs. shifting basis
74
Target Market
Since the establishments purpose is to provide accommodation to
Tagaytay City goers, they are the main target market. Other than the Tagaytay
City goers, we are also pursuing another target market based on geographic
location is the employees working at the companies nearby. In case of the
demographic aspect, our target market would be families and groups of friends
so the rooms of our establishments should accommodate at least four people per
room. While in terms of benefits, the quality of the amenities and facilities must
be satisfying and the prices must be affordable to reach the potential target
markets.
Competition
One of the threats that our business will face is the number of competitors
around the area. However, after surveying, we discovered that there may be a lot
of hotels and breakfast and inn in Tagaytay but only few were located near or
across the Picnic grove where large number of tourists go. The top three
establishments below are all located at Calamba Road, Tagaytay City.
Belize Tagaytay Bed and Breakfast
One tagaytay place Hotel
The Windy Ridge Hotel
75
Recommendation
Antheia should add more rooms to make the generous number of facilities
of the inn useful to more guests.
Antheia should incorporate Lagunas local delicacies to the menu of their
restaurant.
Other than the playground, the Inn should make an area for kids where
they can have cupcakes or fresh fruit shake stand.
Conclusion
Antheias Bed and Breakfast Inn project proposal is feasible as there is
potential market demand and market profitability, and therefore, should start the
business and keep it running until it is established. Its location, unique services
and products will only be some of the factors for it to succeed for the next couple
of years. Also, based on the projections as depicted by the financial statements,
the proposed project is a profitable kind of business.
76
References
Suzanne G. Dane, National Trust Guide to Historic Bed & Breakfasts, Inns, and
Small Hotels, 2013
Retrieved http://www.innspireconference.com/res/docs/CABBI_Survey-
PAII2002.pdf, 2013
Updated City Development Strategy Report for Tagaytay City. In (2008). City
Development Strategies in the Philippines: An Enabling Platform for Good
Governance and Improving Service Delivery (p. 13). Tagaytay City: Cities
Alliance.
77
Articles of Partnership
Of
_______________________________
KNOWN ALL MEN BY THESE PRESENTS:
That, we the undersigned, all of legal age and residents of the Republic of the
Philippines has agreed to amend a general partnership under the terms and conditions
herein after set forth and subject to the provisions of existing laws of the Republic of the
Philippines.
AND WE HEREBY CERTIFY:
ARTICLE I. That the name of the partnership shall be Antheia Bed and
Breakfast and Garden Inn
ARTICLE II. That the principal office of the partnership shall be located at 445
Tagaytay-Calamba Road, Barrio Sungay West Tagaytay City 4120, Philippines.
ARTICLE III. That the names, citizenship and residence of the partners of the
said partnership are as follows.
Name
Akimi Ferrera
Camille Castillo
Maria Isabella Diaz
Arvee Pacag
Citizenship
Filipino
Filipino
Filipino
Filipino
Residence
Philippines
Philippines
Philippines
Philippines
ARTICLE IV. That the term for which said partnership is to exist is 25 years
from the original recording of the said partnership by the Securities and Exchange
Commission.
ARTICLE V. That the capital of this partnership shall be ten million pesos,
Philippine Currency contributed in cash by the partners as follows:
78
Name Amount Contributed
Camille Castillo Php 2,500,000.00
Akimi Ferrera Php 2,500,000.00
Maria Isabella Diaz Php 2,500,000.00
Arvee Pacag Php 2,500,000.00
TOTAL
PHP 10,000,000.00
That no transfer which will reduce the ownership of Filipino citizens to less than the
required percentage of capital shall be recorded in the proper books of the partnership.
ARTCLE VI. That the profits and losses shall be divided pro-rata among the partners.
ARTICLE VII. That the firm shall be under the management of Camille Castillo as
General Manager and as such he/she shall have the charge of the management affairs of the
partnership.
ARTICLE VIII. That the partners undertake to change the name of the partnership
immediately upon receipt of notice or directive from the Securities and Exchange Commission
that another partnership, corporation or person has acquired a prior right to the use of that name
or that the name has been declared misleading, deceptive, confusingly similar to a registered
name, or contrary to public morals, good customs or public policy.
IN WITNESS WHEREOF, we have hereunto set our hands this 22nd
day of February
2014 at Miriam College, Quezon City, Philippines.
345-123-347-000 235-359-124-000 574-345-685-000 234-674-235-000
TIN TIN TIN TIN
Signed in the presence of:
Akimi Ferrera Camille Castillo Maria Isabella Diaz Arvee Pacag