| Opis: | In the master's thesis, an investment evaluation for the construction of apartments on a tourist farm was analyzed. Based on previously assessed data on costs, revenues, and the investment amount, we developed four simulation models, which form the basis of the financial analysis. As the central method, we used a Cost-Benefit Analysis (CBA) to evaluate key financial parameters such as Net Present Value (NPV), Internal Rate of Return (IRR), and Payback Period of the investment.The total investment amounted to €427,173.90. The analyzed scenarios differ based on the number of occupied days per year and the cost of accommodation.Scenario 1 assumes an occupancy of 90 days per year, generating an annual revenue of €49,500, costs of €8,416,57, and an annual cash flow (ACF) of €41,083.43. At an interes trate of 5.50 %, the investment pays back in the sixteenth year, with an IRR of 5.58 %. Scenario 2 assumes an occupancy of 108 days per year, generating an annual revenue of €71,280, costs of €9,287.77, and an ACF of €61,992.23. At an interest rate of 5.50 %, the investment pays back in the ninth year, achieving an IRR of 5.70 %, which ensures that the NPV remains positive in the ninth year. Scenario 3 assumes an occupancy of 108 days per year, generating an annual revenue of €83,160, costs of €9,762,93, and an ACF of €73,397.03. At an interes trate of 5.50 %, the investment pays back in the eighth year, achieving an IRR of 7.66 %. Scenario 4 assumes an occupancy of 126 days per year, generating annual revenue of € 102,060, costs of €10,518.97, and an ACF of €91,541.03. At an interest rate of 5.50 %, the investment pays back in the sixth year, achieving an IRR of 7.69 %. The thesis also included a survey aimed at identifying the preferences and behavior of respondents regarding staying on a farm, with the goal of tailoring the offer to their needs and expectations. Additionally, a SWOT analysis was conducted to identify strengths, weaknesses, opportunities, and threats that could affect the investment in apartments on the tourist farm. The results of the thesis provide valuable insights into the financial viability of the investment and enable a better planning of future projects in the field of tourist accommodation. |
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