Pramana, Yudha (2017) Evaluasi Kelayakan Investasi The Safin Hotel Di Kabupaten Pati, Jawa Tengah. Undergraduate thesis, Institut Teknologi Sepuluh Nopember.
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Abstract
Investasi bidang perhotelan di Kabupaten Pati semakin berkembang, hal ini ditandai dengan berdirinya hotel berbintang tiga yaitu The Safin Hotel dan hotel baru lainnya. Akibat adanya perkembangan tersebut, maka perlu dilakukan evaluasi kelayakan investasi pada The Safin Hotel. Evaluasi ini bertujuan untuk mengetahui apakah hasil dari perencanaan awal masih relevan dengan kondisi saat ini berdasarkan data terbaru. Tugas akhir ini hanya meninjau aspek finansial dengan menggunakan metode Net Present Value (NPV) dan Internal Rate of Return (IRR). Kemudian dilakukan analisis sensitivitas tingkat penghunian kamar, tarif sewa kamar, dan biaya operasional & pemeliharaan terhadap nilai NPV.
Dari hasil analisis didapatkan bahwa investasi total The Safin Hotel adalah sebesar Rp 79.699.382.000 dengan asumsi MARR 11,48% didapatkan nilai NPV selama masa investasi sebesar negatif Rp 3.397.498.861 (NPV < 0) dan hasil analisis Internal Rate of Return (IRR) sebesar 11,40%, kurang dari arus pengembalian yang diinginkan yaitu sebesar 11,48%. Maka The Safin Hotel dikatakan tidak layak dari segi finansial. Sedangkan hasil analisis sensitivitas antara variabel tingkat penghunian kamar, tarif sewa kamar, dan biaya operasional dan pemeliharaan terhadap nilai NPV didapat bahwa The Safin Hotel akan menjadi layak apabila tingkat penghunian kamar lebih dari 52,07%, atau tarif sewa kamar dinaikkan minimal 3,33% dari tarif sekarang, atau biaya operasional dan pemeliharaan diturunkan 7,69%.
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Investment toward hospitality sector in Pati is developing, this could be shown from the fact that a three stars hotel called Safin, and other hotels, are established. As a result of this development, evaluation of investment feasibility towards the Safin Hotel needs to be conducted. This evaluation aims to know whether the preliminary concept is still relevant with the recent condition based on the newest data. This final assignment analyzes financial aspect by using Net Present Value (NPV) and Internal Rate of Return (IRR) method. Then, Sensitivity analysis of occupancy rate, room rental rate, and operational & maintenance cost toward NPV value are performed.
It could be concluded from the analysis result that the total investment of the Safin Hotel was Rp 79,699,382,000 with 11.48% as the assumption of MARR values, it could be obtained that the NPV value during investment period was negative Rp 3,397,498,861 (NPV < 0). The result of Internal Rate of Return (IRR) was 11.40%, less than the expected result which was 11.48%. Therefore, The Safin Hotel was slightly not financially worth. The sensitivity analysis results of occupancy rate, room rental rate, and operational & maintenance cost toward NPV value show that The Safin Hotel would be feasible if the occupancy rate was more than 52.07%, or the increasing of room rental rate by the minimum of 3.33% from the current rate, or the decreasing of operational & maintenance cost by the point of 7.69%.
| Item Type: | Thesis (Undergraduate) |
|---|---|
| Uncontrolled Keywords: | Investasi, kelayakan investasi,NPV, IRR |
| Subjects: | H Social Sciences > HG Finance |
| Divisions: | Faculty of Civil Engineering and Planning > Civil Engineering > 22201-(S1) Undergraduate Thesis |
| Depositing User: | Yudha Pramana |
| Date Deposited: | 08 Jun 2017 01:55 |
| Last Modified: | 05 Mar 2019 01:55 |
| URI: | http://repository.its.ac.id/id/eprint/41524 |
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