Hotel room crunch? Stay in HDB, suggests NUS Biz team

Winning team in the Lee Kuan Yew Biz Plan gets US$20,000

THREE university freshmen believe they have the answer to help relieve the hotel room crunch.
The trio, from the National University of Singapore's Business School, have come up with a plan to have travellers - especially the budget-conscious and those visiting long-term - stay in HDB flats instead of hotels.

The flats, which would offer services similar to bed and breakfasts overseas, would cost about $40 a night - and allow tourists to experience the 'uniquely Singaporean way of life and culture', according to team member Liew Foo Kin, 23.

'We will target housewives and retirees who may have spare rooms for rent,' he said. 'This can help with the current hotel room shortage as well as give tourists a chance to see how Singaporeans live.'

With fellow budding entrepreneurs Chua Wen Ling and Chia Xiao Feng, both 20, Mr Liew is confident that his team's plan - called 'Be My Guest' - can make it all the way to the finals of this year's Lee Kuan Yew Global Business Plan competition.

The biennial competition, organised by Singapore Management University, aims to promote entrepreneurship. Students from any university, college or polytechnic worldwide are eligible to compete.

At a mentoring session hosted by HSBC yesterday morning, 19 industry leaders, including Sat Pal Khattar, chairman of Khattar Holdings, and Philip Ng, chief executive of Far East Organisation, were on hand to advise and critique projects.

Each leader was allotted two teams and given their business plans to read in advance. Each team was then given 20 minutes to discuss its plan and receive feedback.

Contestant Ms Chua said the session was a welcome chance to to get advice from a tourism industry veteran - Banyan Tree Holding's group managing director Ariel Vera.

'He suggested charging a seasonal, fluctuating rate, and to standardise amenities such as linen, towels and the breakfast provided so as to maintain a minimum level of quality,' she said.

Mr Vera said: 'Their plan could succeed - but they have to look at their expected returns on their investment. Perhaps they could have a tie-up with the Singapore Tourism Board to leverage on its brand name, maybe in the form of certification. That would help the students a lot.'

Other nifty ideas from the 43 shortlisted local teams include a device to allow credit card holders to set their own transaction limits, and a suitcase with a built-in weighing device to let travellers know exactly how much they are carrying to avoid excess baggage charges.

The winning team - to be announced in July - stands to pocket US$20,000 in prize money. The best Singapore team will also get to tap on a $100,000 youth enterprise fund set up by HSBC to invest in its business.

Source : Business Times - 25 Mar 2008