Evaluation On Investment Value Of The Serviced Apartments

As a type of the tourism real estate, the growth rate of the Serviced Apartments is closely related to the economic development level in China. In recent years, with the continuous development of China economy, especially the pull of the accession to the WTO, many foreign-funded enterprises enter the market of China,which promotes the development of Serviced Apartment,and the market demand is increasing rapidly. As the convening of the 2008 Beijing Olympic Games, the demand of the Serviced Apartments reached its highest point, whether the rent or the occupancy rate reached the highest point in history.Starting from the basic theory, this paper analyes the development background, the definitions and the characteristics of the Serviced Apartments, the differences between Serviced Apartments and the other tourism properties, the basic theory of investment value, the related theories , as well as methods of evaluation - Delphi method and multi-level Fuzzy Comprehensive Evaluation Method. Then, combined with our country's specific circumstances of the Serviced Apartments, it studys the market conditions and the operating conditions of the Serviced Apartments, the problems of the Serviced Apartment development. Later, it has a detailed analysis of the influencing factors on Serviced Apartments, including economic factors, social factors, industry factors, geographic factors, investors'factors and the factors of the relationship between each other.Based on the qualitative analysis before, it has a quantitative analysis on the investment value of the Serviced Apartments by the multi-level fuzzy comprehensive evaluation. In the process of the quantitative analysis, firstly it points out the whole train of thought of selecting the multi-level fuzzy comprehensive evaluation method; Secondly, set up the evaluation index system of the investment value of the Serviced Apartments. Thirdly, on the basis of the setting up the evaluation index system of investment value of the Serviced Apartments, it determines the weight of the influencing factors by the analytic hierarchy process (AHP). Lastly, by the use of the fuzzy mathematical model, it sets up the fuzzy mathematical model of the investment value of the Serviced Apartment.According to the setting up of the fuzzy mathematical model of the investment value of the Serviced Apartments, it has a general evaluation on the specific example. First, it has an analysis on the conditions of the S Serviced Apartment; Then, by the results of the AHP and the fuzzy mathematical model of the Serviced Apartments, it carries out a comprehensive evaluation on this Serviced Apartment. Finally, come through the evaluation level of the S Serviced Apartment by the relationship between membership functions and propose the development measures.In the last part, it proposes the development strategies and recommendations for Chinese Serviced Apartments, which has a reference impact.