Arðsemismat á nýju hóteli í Keflavík

• Main Author: Sigurður Sigurbjörnsson 1981-
• Other Authors: Háskólinn á Akureyri
• Format: Thesis
• Language: Icelandic
• Published: 2013
• Subjects: Viðskiptafræði; Arðsemismat; Hótel; Rekstrarhagfræði; Keflavík
• Online Access: http://hdl.handle.net/1946/15746

Verkefnið er lokað til 5.5.2032. This thesis was written by the means of evaluating the feasibility of a hotel investment project by the small harbour in Keflavik. It begins by a theoretical overview over the methods used in this thesis. Three hotel managers where contacted for the purpose of gathering information about their perspective on the future outlook for the hotel and tourist industry in the area. The statistics of the hotel market where looked at in detail, available accomodation and overnight stays and the number of hotel competitors on the market in the area. A model was built to illustrate the project investment analysis by certain project criteria. It began by preparing a income statement, balance sheet, and cash flow statement from the criteria. A proforma was created from the income statement for the free cashflow analysis, the free cashflow method used in this thesis is called free cash flow to firm. After the terminal value was generated the cashflow and terminal value where discounted by using the WACC of the investment project to find the NPV of the project. A sensitivity analysis and a couple of scenarios were created from the base scenario to analyse criteria comparison and criteria importance. The conclusion of the model returned a positive NPV in the model building, so the project should be accepted given this exact criteria. But looking into the sensitive analysis, it is seen that the slightest error in the criteria can return a negitive NPV because the criteria is very volatile, that should be kept in mind for investors during the decicion making process. Other main conclusions are that it is feasible to go ahead with the investment since the growth in the industry today is more than the increased number of rooms added to the market. Increased opportunities are in the area with better unity between tourism parties. Keywords: Hotel market, Project Investment Analysis, Project Feasibility, Cash Flow Analysis, Sensitive Analysis. Skýrsla þessi var skrifuð með það að markmiði að meta ...