| Sammanfattning: | Hotel X with average occupancy rate of 79% by 2011 is one of the three-star
hotel managed without the services of a hotel operator has reasonably good
performance in Jakarta on increased competition in the budget hotel segment that
is generally controlled by the foreign hotel operators network such as Accor and
local hotel chains such as Santika and Aston.
The purpose of this study was to find the intrinsic value of Hotel X by using
the Discounted Cash Flow method using data from the company's processed
internal financial statements, the analysis of tourism factors in Indonesia and
Indonesia's macroeconomic conditions in general so as to provide the adequate
projection for use as a basis for calculating the fair value of the company.
Assessment results by using the DCF method gives the value of the company
of Rp. 216,963,161,753 or Rp. 216.963 per share before the effect of discounts
due to illiquidity in the closed company at Rp. 190,385,174,438 after the effect of
illiquidity discount for each stock group.
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