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All Journal JURNAL BISNIS STRATEGI Jurnal Bisnis dan Manajemen Jurnal Keuangan dan Perbankan Media Ekonomi dan Manajemen Jurnal Ilmiah Mahasiswa FEB JAM : Jurnal Aplikasi Manajemen Journal of Indonesian Applied Economics Wacana, Jurnal Sosial dan Humaniora JBTI : Jurnal Bisnis : Teori dan Implementasi Jurnal Manajemen Teori dan Terapan MIX : Jurnal Ilmiah Manajemen Jurnal Manajemen dan Kewirausahaan (JMDK) Asia-Pacific Management and Business Application Jurnal Ekonomi dan Bisnis Management and Economics Journal (MEC-J) Dinasti International Journal of Management Science Heart Science Journal JBMR: Journal of Business and Management Review Multicience Akuntansi Bisnis & Manajemen (ABM) SMBJ: Strategic Management Business Journal Journal of International Conference Proceedings Jurnal Manajemen Pemasaran dan Perilaku Konsumen Jurnal Management Risiko dan Keuangan Carmin: Journal of Community Service Jurnal Kewirausahaan dan Inovasi Journal of Management Research and Studies Jurnal Abdimas Mahakam
Kusuma Ratnawati
Department Of Management, Faculty Of Economics And Business, Brawijaya University
Arts Humanities Biochemistry, Genetics & Molecular Biology Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Electrical & Electronics Engineering Environmental Science Health Professions Immunology & microbiology Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Library & Information Science Mathematics Medicine & Pharmacology Public Health Social Sciences Other

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AN INVESTMENT FEASIBILITY ANALYSIS FOR THE DEVELOPMENT OF HOTEL X IN MATARAM Daffa Abiyyu Achmad; Kusuma Ratnawati
INTERNATIONAL JOURNAL OF MULTI SCIENCE Vol. 6 No. 02 (2026): INTERNATIONAL JOURNAL OF MULTISCIENCE - MAY-AUGUST 2026
Publisher : CV KULTURA DIGITAL MEDIA

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Abstract

The objective of this research is to analyze investment feasibility in the development of Hotel X in Mataram using three scenarios: base case, weak case, and best case. The method of analysis covers the calculation of Net Present Value (NPV), Internal Rate of Return (IRR), Payback Period, and Profitability Index, as well as sensitivity analyses on investment value changes and WACC on NPV and IRR. The analysis results for the base case scenario indicate that this investment is feasible with the NPV of IDR 15,400,833 thousand, the IRR of 14.2%, payback period of ten years, and the profitability index of 1.6; which are considered as not feasible. In the weak case scenario, the NPV is negative at IDR 1,815,997 thousand with the IRR of 11.58%, payback period of twelve years, and profitability index of 1.6, which is also not feasible. For the best-case scenario, the NPV reaches IDR 35,301,509 thousand with the IRR of 16.86%, the payback period of nine years, and the profitability index of 1.4, which shows significant earnings potentials. He sensitivity analyses indicate that the investment value changes and WACC have significant impacts on NPV and IRR. Further, the results of the sensitivity analyses on the three scenarios demonstrate that the investment feasibility in the development project of Hotel X in Mataram is highly dependent on the investment value and WACC. The sensitivities indicate that this project has a strong potential to succeed under normal or optimal economic conditions and capital costs, but risks may appear if the conditions get worse. In general, based on the financial and sensitivity analyses, the development project of Hotel X in Mataram is feasible in several scenarios.
Co-Authors A. Dewantoro Marsono abdillah, luthfi Achmad Helmy Djawahir Achmad Helmy Djawahir Afriani Afriani Ananda Sabil Hussein Ardhan Ardiansyah Kawakibi Armanu, Armanu Arta Kusuma Athifah Hanun Atim Djazuli Bintang Nurrama Putra Christin Susilowati Cicik Retno Wati Clara Shinta Wiryana Cokorda Agung Mahadika Daffa Abiyyu Achmad Damayanti, Renata Desy Eka Kartika Sari Dewantara, Prasetya Putra Djumahir Djumahir . Djumahir Djumahir Djumahir Djumahir Djumilah Hadiwidjojo Djumilah Hadiwidjojo Djumilah Hadiwidjojo Djumilah Zain Edi Purwanto Edi Purwanto Eka Zahra Solikahan Eko Purwanto Ekromi Fraida Tsalasah Esther Novelina Hutagalung Firdaus, Ema Zahra Fitria Ariyani Hanifa Bennu Nur Hanun, Athifah Hedwigh Hendrikus Temai Lejap Herdina, Ajeng Mira Humaira, Khaula Fathia Kesuma, Satrio Fajar KEWAKUMA, ANGELINE STELLA VENTARI Kurniasari, Irma Lana Emilia Gondowahjudi Lia Pranata Putri Liana, Esti luthfi abdillah M.S. Idrus Made Sudarma Mahadika, Cokorda Agung Margono Setiawan Mochamad Rizky Pratama Moeljadi Moeljadi MujiLestari, Dian Muliawati, Elisa Cahya Nazzal, Ayman Ni Nyoman Suli Asmara Yanti Noermijati, Noermijati Nova Juwita Hersanti Nur Khusniyah Indrawati Nuraini Desty Nurmasari Nurmasari, Nuraini Desty Nushobah, Ahmad Royan Pertiwi, Nanda Purnamasari, Citra Putra, Kevin Surijanto Putradia, Mikhael Kefas Putri, Belinda Nursabila Putri, Rizki Ariendra Ammellia R Safiroh Febrina Reka Yusmara Mardiputra Rico Eka Wahyu Hudiwijono Riyadi, Indra Rofiaty, Rofiaty Rosyanti, Daisy Marthina Santika, IBM Shen Chien Wen Shen Chien Wen, Shen Chien Siahaan, Andriyuda Siti Aisjah Slamet Mulyono Sri Muljaningsih Sumiati Sumiati . Sumiati Sumiati Surachman Surachman Tomas Setya Wahyu Budi Tomas Setya Wahyu Budi Ubud Salim Wahdiyat Moko Wardani, Salsabilah Herman Putri Wati, Cicik Retno Yolanda Efionita ZAINUL ARIFIN Zainul Arifin Zaroug, Yousef Ali Mohamed