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STUDI KELAYAKAN INVESTASI

THE HIMANA RESIDENCE & CONDOTEL

SKRIPSI

Disusunoleh :

RHEO RAMADHAN

I 0109084

PROGRAM STUDI TEKNIK SIPIL FAKULTAS TEKNIK UNIVERSITAS SEBELAS MARET

SURAKARTA 2016


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ABSTRAK

RheoRamadhan, 2016, STUDI KELAYAKAN INVESTASI THE HIMANA CONDOTEL & RESIDENCE. Skripsi, JurusanTeknikSipilFakultasTeknikUniversitasSebelasMaret Surakarta.

Sebelummembangunsebuahcondoteldilakukanstudikelayakaninvestasi. Perhitunganinisangatpentingmengingat modal yang dikeluarkancukupbesaruntukmembangunsebuahcondotel agarjangansampainantinyacondoteltersebutbangkrutsetelahberoperasisekiantahun.

Analisiskelayakaninvestasidilakukandenganmetode Net Present Value (NPV), Revenue Cost Ratio (RCR), Internal Rate of Return (IRR), PerhitunganAnalisistitikimpas (Break Event Point), Return On Investment (ROI) sebelumdansesudahpajak, dan Tingkat PengembalianModal Sendiri (Return on Equity).

The HimanaCondotel& Residencememiliki7lantai yang terdiridari2 lantaibasemantdan 5 lantai di ataspermukaantanahdanmemilikikamarsejumlah 190kamardenganluas total yang disewakan6776,6 m2. Sedangkanuntukbungakredit yang berlaku adalahsebesar 14% per tahunberdasarkaninformasi data dari Bank Mega padatahun 2012denganjangkawaktupengembalian 15 tahun. Studiinimemberikanhasilbahwabiayainvestasi total adalahsenilaiRp 311.364.523.668,00. Penilaiankelayakanusulanproyekdilakukandengandelapancarateknikanalisisyaitu NPV dihasilkan NPV positifsesuai yang diinginkan, RCR diperoleh 1,39lebihbesardari 1, IRR diperoleh17,84 % lebihbesardarisukubungakomersil 14 %, BEP diperoleh11tahun 7 bulan 17hariyaitulebihcepatdarisyaratumurekonomis 40 tahun, BEP Okupansidiperoleh31,66 %, ROI sebelumpajakdiperoleh 1,0095lebihbesardari 1, ROI setelahpajakdiperoleh2,1576lebihbesardari 1, RE diperoleh 1,0233lebihbesardari 1 sehinggadapatdikatakanproyekpembangunancondoteltersebutlayakuntukdikerjakandenganhargasewa minimum kamarRp 89.000,00/m² dantingkatokupansisebesar31,66 % dari total seluruhkamar.

Kata Kunci :Condotel, Investasi, KelayakanInvestasi, Okupansi, Studi Kelayakan

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ABSTRACT Rheo Ramadhan, 2016, A Study on the Feasibility of Investment in The Himana Condotel & Residence. Thesis, Civil Engineering Department of Engineering Faculty of Surakarta Sebelas Maret University. Before constructing a condotel, a study of feasibility is conducted on such the investment. This estimation is very important reckon in that the capital spent is substantial to construct a condotel to prevent it from bankruptcy after operating for many years.

The analysis on feasibility on investment is conducted with Net Present Value (NPV), Revenue Cost Ratio (RCR), Internal Rate of Return (IRR), the Calculation of Break Event Point, Return on Investment (ROI) before and after tax, and Return on Equity.

The Himana Condotel & Residence has 7 floors consisting of 2 basements and 5 floor on earth surface with 190 rooms with total width rented of 6776.6 m2. Meanwhile, the loan interest rate enacted was 14% per year based on data information from Bank Mega in 2012 in the repayment period of 15 years. The result of study showed that the total investment cost of IDR 311,364,523,668.00. The assessment of proposed project feasibility was conducted using eight analysis techniques: NPV, in which NPV was positive as expected, RCR of 1.39 higher than 1, IRR of 17.84% higher than commercial interest rate of 14%, BEP of 11 years 7 months and 17 days quicker than the economic age requirement of 40 years, Occupancy BEP of 31.66%, ROI before tax of 1.0095 larger than 1, ROI after tax of 2.1576 higher than 1, RE of 1.0233 higher than 1 so that it can be stated that condotel construction project was feasible to conduct with minimum room renting costs IDR 89.000,00/m², and occupancy rate of 31.66% out of total room.

Keywords: Condotel, Investment, Investment Feasibility, Occupancy, Feasibility Study


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KATA PENGANTAR

PujisyukurkepadaAllah SWT atassegalanyadanNabi Muhammad SAW atasilmu yang dibagikan,

sehinggapenulisdapatmenyelesaikanskripsi yang berjudul “StudiKelayakanInvestasi

TheHimanaCondotel& Residence.”

SkripsiinidisusunsebagaisalahsatupersyaratanuntukmencapaiderajatSarjanaTeknik.Dalampeneliti

andanpenyusunanskripsiini, penulisbanyakdibantu, dibimbing,

dandidukungolehberbagaipihak.Olehkarenaitu,

padakesempataninipenulissangatinginmengucapkanterimakasih yang sebesar-besarnyakepada:

1. DosenPembimbing I, Bapak Ir. Sugiyarto, MT.

Terimakasihkarenasudahmembimbingsayadariawalpengerjaanskripsihingga

akhirnyadapatselesai.

2. DosenPembimbing II, IbuFajar Sri Handayani, ST., MT.

Terimakasihkarenasudahmembimbingsayadariawalpengerjaanskripsihingga

akhirnyadapatselesai.

3. IbuLenydanBapakEmon yang sudahdengansabarmengasah, mengasuh,

danmengasihisayadarilahirsampaisaatini.

4.Mbak Mote, Mas Agra, dan Derek yang sudahmenemanikutumbuhdanberkembangdarikecil.

5.Ristycalonku yang sudahsabarmenunggulimatahunini.

6. Yudhit, Gepeng, danBungasahabatku yang selalumemberikandukungan.

7. Teman-temantekniksipil yang sudahbanyakmembantudalammenyelesaikanskripsiini.

Penulismenyadaribahwadalampenyusunanskripsiinimasihjauhdarikesempurnaan.

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Harapanpenulis, informasidariskripsiinimampumemberikanmanfaatuntukpenulisdanpembaca.

Akhir kata penulisucapkanterimakasih.

Surakarta, Juli 2016

Penulis

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Daftar Isi

HalamanJudul ........................................................................................................................ i

HalamanPersetujuan .............................................................................................................. ii

HalamanPengesahan .............................................................................................................. iii

Halaman Motto ...................................................................................................................... iv

HalamanPersembahan ............................................................................................................ v

Abstrak ................................................................................................................................... vi

Kata Pengantar ....................................................................................................................... vii

Daftar Isi ................................................................................................................................ ix

DaftarGambar ........................................................................................................................ xii

DaftarTabel ............................................................................................................................ xiii

DaftarGrafik ........................................................................................................................... xiv

BAB 1 PENDAHULUAN .................................................................................................... 1

1.1. LATAR BELAKANG MASALAH ............................................................................... 1

1.2. RUMUSAN MASALAH……………………………………………………………… 3

1.3. BATASAN MASALAH ................................................................................................. 3

1.4. TUJUAN PENELITIAN ................................................................................................. 4

1.5. MANFAAT PENELITIAN ............................................................................................ 4

1.6. SISTIMATIKA LAPORAN ........................................................................................... 5

BAB 2 DASAR TEORI ........................................................................................................ 6

1.1.TinjauanPustaka ............................................................................................................... 6

1.2. DasarTeori....................................................................................................................... 8

1.2.1. GambaranUmumCondotel ........................................................................................... 8

1.2.2. Besaran-besaranFisikdanTeknoEkonomiGedung ..................................................... 8

1.2.3. AnalisisEkonomiTeknik ........................................................................................... 16

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1.2.3.1. PengertianDasar ..................................................................................................... 16

1.2.3.2. RumusdalamAnalisisEkonomiTeknik ................................................................. 16

1.2.3.3. PerhitunganSewa Minimum Dan TitikImpas (Break Even Point) ...................... 18

1.2.4. AnalisisPenilaianInvestasi ........................................................................................ 19

1.2.4.1.MetodeNilaiSekarangNetto (Net Present Value) .................................................. 19

1.2.4.2. Metode Revenue Cost Ratio ................................................................................ 20

1.2.4.3. MetodeArusPengembalian Internal (Internal Rate of Return) ............................. 20

1.2.4.4. Tingkat PengembalianInvestasi ........................................................................... 21

1.2.4.5. Tingkat Pengembalian Modal Sendiri ................................................................. 23

BAB 3 METODOLOGI PENELITIAN ............................................................................. 24

3.1. LokasiPenelitian .............................................................................................................. 24

3.2. MetodePenelitian ............................................................................................................ 25

3.3. Sumber Data.................................................................................................................... 25

3.4. TahapdanProsedurPenelitian........................................................................................... 25

BAB 4 ANALISIS DAN PEMBAHASAN ......................................................................... 30

4.1. Analisis ........................................................................................................................... 30

4.1.1. Data PerencanaanInvestasi ........................................................................................ 30

4.1.2. PerhitunganInvestasiProyek ...................................................................................... 36

4.1.2.1. BiayaLangsung .................................................................................................... 36

4.1.2.2. BiayaTidakLangsung ........................................................................................... 37

4.1.2.3. JumlahBiayaInvestasi Total ................................................................................. 38

4.1.3. PerhitunganPendapatandanPengeluaranTahunan ..................................................... 38

4.1.3.1. Data pembiayaanproyek ....................................................................................... 38

4.1.3.2. Pendapatanproyek per Tahun ............................................................................... 39

4.1.3.3. PengeluaranBangunan per Tahun ........................................................................ 39

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4.1.3.4. PerhitunganNilaiSewa Minimum......................................................................... 42

4.1.3.5. AnalisisPenilaianKelayakanInvestasi .................................................................. 43

4.1.3.5.1. AnalisisNilaiSekarangBersih (Net Present Value) ......................................... 43

4.1.3.5.2. AnalisisPerbandinganPendapatandanPengeluaran( Revenue Cost

Ratio )..................................................................................................................................... 44

4.1.3.5.3. Analisis Tingkat Kembali Internal (Internal Rate of Return) ......................... 45

4.1.3.5.4. AnalisisTitikImpas (Break Even Point) .......................................................... 46

4.1.3.5.5.AnalisisTitikImpas (Break Even Point) Okupansi ........................................... 50

4.1.3.5.6. Tingkat PengembalianInvestasi ...................................................................... 51

4.1.3.5.7. Tingkat Pengembalian Modal Sendiri ............................................................ 54

4.2. Pembahasan ..................................................................................................................... 56

BAB 5 KESIMPULAN DAN SARAN ................................................................................ 58

5.1. Kesimpulan ..................................................................................................................... 58

5.2. Saran ............................................................................................................................... 59

DaftarPustaka ......................................................................................................................... xv

LAMPIRAN 1

LAMPIRAN 2

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DaftarGambar

Gambar 3.1 DenahLokasidanTampakTheHimanaCondotel& Residence ............................. 24

Gambar 3.2 Diagram AlirPenelitian ...................................................................................... 28

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DaftarTabel

Tabel 4.1.Luastiapruanglantai Ground Floor ......................................................................... 31

Tabel 4.2.Luastiapruanglantai 1 ............................................................................................. 32




Tabel 4.6.Rekapitulasipendapatandanpengeluarantahunan ................................................... 42

Tabel 4.7PerhitunganTitikImpasBerdasarkanSistemBungaTetap ......................................... 48

Tabel 4.8.Rekapitulasipendapatandanpengeluarandalammenghitung ROI sebelumpajak 51

Tabel 4.9.Rekapitulasipendapatandanpengeluarandalammenghitung ROI setelahpajak ..53

Tabel 4.10.Rekapitulasipendapatandanpengeluarandalammenghitungtingkat

pengembalian modal sendiri .................................................................................................. 54

Tabel 4.11.Rekapitulasihasilanalisisstudikelayakaninvestasi The Coral Hotel Surakarta .56

Tabel 4.12NilaiSewa Minimum Kamar ................................................................................. 57

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DaftarGrafik

Grafik 4.1 PerhitunganTitikImpasBerdasarkanSistemBungaTetap ....................................... 49

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