Operator Of Elite Card To Seek Sidelines

[george]

Operator of Elite Card to seek sidelines

Director denies move spurred by low sales

BANGKOK: Thailand Privilege Card Co, the company operating the Elite Card venture, is seeking sideline businesses to keep its core operation afloat, after only about 200 of the million-baht memberships have been sold since the project was launched late last year.

Prime Minister Thaksin Shinawatra said yesterday that the company should look into investments in new projects to generate additional income.

Paisit Kaenchan, director and acting managing director of Thailand Privilege Card, said the company was set to expand its business holdings to include building its own boutique hotels and golf courses in Bangkok and Phuket.

Details and the amount of investment have not been finalised, but financing will come out of the company's own pockets, he said.

At the same time, an exclusive gathering place called ``City Club'' will be opened to serve only Elite Card members and their guests.

``The club will be similar to the Heritage Club [at Amarin Plaza in Bangkok] but more exclusive,'' he said.

Mr Paisit said the new ventures would only complement the company's core business which is to facilitate exclusive services for card holders.

He denied that the company had opted to expand its focus because of financial difficulties or poor performance, saying the number of memberships sold was on course.

But, he added, the performance of all sales agents would be up for evaluation.

The company _ the premier's brainchild _ was established to sell lifetime membership cards to wealthy tourists in order to promote Thailand as a high-class destination and earn foreign exchange.

Members are eligible for a variety of free services and discounts at golf courses, spas, and hospitals as well as fast-track immigration and free airport transfers.

Since its official launch in November, about 200 cards have been sold, at US$25,000 for individuals and US$50,000 for corporate members.

Originally, the sales target was set at one million memberships in five years.

Mr Paisit said the company's current income was sufficient to cover the estimated 40,000-baht-a-year cost for each member for services such as airport transfers.

Cardholders would also be eligible for greater access to property investment, beyond the conditions normally afforded to non-Thais.

Meanwhile, the company is considering raising the membership fee to US$50,000 for expatriate foreigners living in Thailand as they may use the services more often.

Vichit Na Ranong, chairman of the Tourism Council of Thailand, said that at $25,000 or even $50,000, the fee was reasonable as long as the services are delivered as promised.

``Most of the potential members expressed concern that they may have to wait in line, saying the fees are too low,'' said Mr Vichit, adding that the main obstacle for the project is not the fee, but the quality of the services.

``A membership fee for a quality golf course already costs about the same,'' he said.

--The Bangkok Post

[digibum]

He denied that the company had opted to expand its focus because of financial difficulties or poor performance, saying the number of memberships sold was on course.

But, he added, the performance of all sales agents would be up for evaluation.

The company _ the premier's brainchild _ was established to sell lifetime membership cards to wealthy tourists in order to promote Thailand as a high-class destination and earn foreign exchange.

Members are eligible for a variety of free services and discounts at golf courses, spas, and hospitals as well as fast-track immigration and free airport transfers.

Since its official launch in November, about 200 cards have been sold, at US$25,000 for individuals and US$50,000 for corporate members.

Originally, the sales target was set at one million memberships in five years.

I'm no math whiz but if the card was introduced in Nov and 200 and have sold that's an average of approx. 100 per month. If the goal is/was 1,000,000 cards by 2008/9 (5 years) uh . . . contrary to what they're saying that doesn't sound like it's on pace. My estimate is they'll reach 1,000,000 cards in approx 833 years.

[mrvietnam2001]

Shnorrer !

Mr Vietnam

[dr_Pat_Pong]

Perhaps the market survey was a bit ' iffy '. The new plan to double and triple the charges is bound to increase sales

[KenUdon]

The "City Club" idea of being exclusive is going to be EXTREMELY exclusive unless they increase sales very quickly. Only 200 members worldwide!

Still, as Dr PP says the doubling of the price should solve all their problems...

[farang62]

Again, what are the guarantees that the program will continue after the government changes? We have all seen this many times in the past with many schemes the government has had. The Thai Government say’s “The Wrong Government” “New Rules” or “Finished”.

Until I have some guarantees I for one won’t even think about it. Under the “Thai American Amenity Treaty” they must follow the treaty; they once told me “Wrong Government” and “Not a certified Translation”. I then pointed out the treaty was executed between His Majesty The King of Thailand and Lyndon B. Johnson the President of the United States and the treaty stated that both the Thai and English versions were correct as stated in the treaty. After that I never had another problem with the Government offices, although I must bring a copy of the treaty document with me when I go to do business which is covered under the treaty.

My guarantee is that the treaty is a International Treaty of State between the Countries concerned not the government that is or was in power at the time.

Nothing appears to guarantees the terms of the card or it’s longevity here, maybe it will go away as so many things have at the whim of who ever is in charge at the time as so many things that don’t suit them have.

“Let the buyer beware”

A cautious farang of over 40 years.

[dighambara]

The new "Elite" card is all smoke and mirrors, without substance and for a price that will buy a nice house in the country or provide a hefty down payment in a very nice condo in Pattaya, or plenty of other places to spend that money. I you got megabucks, then do not worry, but many, many, ex-pats are retired on a semi fixed income. Yes, that income may be 10-100 times what a well educated Thai can earn, but $25,000 is not tissue paper to catch a sneeze.

[heychay]

"Mr Paisit said the company's current income was sufficient to cover the estimated 40,000-baht-a-year cost for each member for services such as airport transfers."

This is a great statement, very inspiring. They've got 200 million baht in income so far (well, a little less than that since several cards were given away, not sold). I assume they have to pay salaries, office rent, some sort of commission for sales, promotions, etc. So I guess all that would be left is enough for airport transfers.

But again, I think their target group is wealthy Asian, Middle Eastern, Eastern Europeans. Not western Europeans and Americans. First of all we complain too much. And we probably wouldnt be saying things like "before i buy it you'll have to double the price". Dont get me wrong, i wish them all the luck in the world with this. I'm enjoying the show.

[The_Moog]

Lets look reality squarely in the face.

Elite card is DEAD ... already.

No surprise, and its a consolation that comparatively few people have been hoodwinked.

[dr_Pat_Pong]

Lets look reality squarely in the face.

Elite card is DEAD ... already.

No surprise, and its a consolation that comparatively few people have been hoodwinked.

Those already hoodwinked might not totally agree with you.

[castelleone]

I simply do not consider myself being "elite". So what the heck. I just dont need that card. All I wish, is to spend my life in this gorgeous country on my own expenses and to bother nobody. Will say: do in Rome as the Romans do....!

And I am one of the very few people who do not play golf. In addition, I can easily take the bus to the airport if I am leaving the yountry or can even afford a taxi.

So, what is it all about? Obviously I belong to a minority and the whole discussion is meant for some other people.

[DaveYo]

Yep the mathematician is correct!!!!!!!!! Also Hi Mr. Vietnam. Long time no hear!!!!!!!! Just one note>>> This is an omnious warning that they are starting to run into financial crisis already. They also stated that the salespeople are being reviewed and re-evaluated. That says it all. Sounds like their marketing is beginning to collapse and they are finding it to be extremely very difficult to get richie rich to even buy these cards. Hehehehehehehehe. Just like I predicted.

Oh, hey my friend farang 62, I will PM ya. Would like to ask ya a question.

That is all folks!!!!

Daveyoti

[chopsticks]

Again, the ELITE card is for ELITE people.

People who REALLY have money.

Not someone who has a net worth of $500,000 US... but someone who has a net worth into the MILLIONS.

Those people live in a different world. Heck, $25,000 US could be written off as a tax deduction for them.

Keep in mind how "face" oriented Thailand is. If there are only 200 members in the world then it IS rather elite now isn't it?

Selling more cards doesn't make it MORE elite now does it?

[parryhandy]

Selling more cards doesn't make it MORE elite now does it?

no but its makes it profitable.......

[Pink Mist]

Our friends Leslie and Dion are quiet now and I dont think it's because the've been rushed off their feet with new sales.

Maybe they are waiters in the new club when sales are slow.

[thatguy]

if there're too many elite, it's mundane

success breeds failure

oops

[dr_Pat_Pong]

Leslie and Dion now kup rot tuk tuk for a job

[Pink Mist]

with elite card advertisement on the back

[NedKelly]

They would have to sell 562 cards a day for 5 years to achieve their target. It will be interesting to keep watching this as it progresses.

[Pink Mist]

Leslie was browsing here today but hasn't posted yet.

[Thaiquila]

Again, the ELITE card is for ELITE people.

...

Keep in mind how "face" oriented Thailand is.  If there are only 200 members in the world then it IS rather elite now isn't it?

Selling more cards doesn't make it MORE elite now does it?

Yes, but the original intent was to sell a million cards in five years, no?

So, people should take the word elite with a big spoon of nam pla. It is more like the kind of elite you get with the gold colored trim on your lux car, or such names as gold and platinum elite for airline programs.

It was supposed to be about SALES. And they aren't there.

The line about the big concern about long lines (200 people in the world for all of the services) is rich, very rich. Almost so rich as to be elite.

I agree with the sentiment that at this point, the progression of this program has become pure entertainment.

[drbones666]

hey would have to sell 562 cards a day for 5 years to achieve their target. It will be interesting to keep watching this as it progresses.

But who are we non-elites to question the wisdom of that all knowing Thai, P.M. Thick-skin?

[dr_Pat_Pong]

Nobody at all

[Axel]

Nobody at all

Don't be too humble. At least 'dust on the sole of his right foot'