Abstract
The purpose of this study is to analyze the financial performance of XYZ’s hotels by using hotel operators. XYZ’s hotels for the last nine years have been managed by AHH to increase the productivity of hotel performance. Historical financial performance show that the three XYZ hotels did not achieve the target over the last five years. Meanwhile, until August 2019 XYZ’s hotels showed a decrease in income above 5% and net profit after tax above 40%. To analyze hotel financial performance used financial ratios, company value added (EVA), and dividend payout ratio. Next to analyze the differences in the financial performance of XYZ hotels between before and after managed by hotel operators used the t-independent test method. The results of the analysis of financial performance show that MHH and SPH had good hotel financial performance during the study period, while BIH showed a declined trend in financial performance with negative EVA. The results of the t-independent test research showed that AHH as a hotel operator failed to improve the hotel's financial performance and did not provide added value to the three hotels owned by XYZ. Keywords: financial performance, economic value added, dividend payout ratio, hotel management, hospitality industry
Highlights
The purpose of this study is to analyze the financial performance of XYZ’s hotels by using hotel operators
Historical financial performance show that the three XYZ hotels did not achieve the target over the last five years
The results of the t-independent test research showed that AHH as a hotel operator failed to improve the hotel's financial performance and did not provide added value to the three hotels owned by XYZ
Summary
Kinerja keuangan sampai dengan Agustus 2019 juga memperlihatkan adanya penurunan pendapatan dan laba bersih setelah pajak. Dibandingkan dengan pesaing yang bergerak di industri perhotelan lainnya, pada periode sampai dengan Agustus 2019, ketiga hotel XYZ memiliki kinerja keuangan dari sisi pendapatan dan laba bersih setelah pajak yang menurun, sementara pesaing menunjukkan pertumbuhan pendapatan sebesar 17.0% dan laba bersih setelah pajak sebesar 485.0% sebagaimana terlihat pada Gambar 1. Hal tersebut menunjukkan bahwa ketiga hotel XYZ tidak memberikan kinerja yang selaras dengan tren industri. Kondisi ketidaktercapaian pendapatan dan laba yang dihasilkan setelah dikelola AHH dapat mengakibatkan pemutusan perjanjian pengelolaan hotel oleh XYZ. Penelitian ini menganalisis kinerja keuangan ketiga hotel milik XYZ dengan adanya penggunaan AHH sebagai operator hotel dan melihat apakah penggunaan AHH memberikan nilai tambah pada hotel XYZ sehingga diharapkan memberikan gambaran mengenai kinerja hotel XYZ selama periode penelitian
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