BUSINESS PLAN OF YARRALUMLA GUESTHOUSE

Abstract

One of the most famous tourism destinations in Indonesia is Bali island, the island of Bali brings the name of Indonesia's national scent in the international world. Tourism is one of the country's potential sources of foreign exchange and has a big share in building the economy today. However, Bali is still in shortage of room accommodation (Budiasa, 2018). It is estimated that Bali has a shortage of 1,200 rooms for upper class market or 20 percent of 6,000 hotel rooms that are considered quite representative. Here is the breakdown of hotel supplies in Bali today. Seeing the data above and with consideration of available land and capital, therefore author of this business plan choose guest house to build because the number is still relatively lower than other accommodation. We want to innovate therefore the price would be higher than budget hotel, we also want to provide facility and target premium market since the shortage is on upper market so guest house is suitable with our idea. The concept proposed in this business plan is guest house in Bali named Yarralumla Guesthouse. The product of Yarralumla Guesthouse is room accommodation so people can stay in our guest house when they come to Bali for all kind of purposes. In addition, we also equip our rooms with smart home concept to give different experience to the guests. Pricing policy applied by Yarralumla Guesthouse is prestige pricing, this strategy is chosen because we focus on our value preposition and we want to stay in premium market area therefore we will not lower our price because we want to build brand equity for premium market. The place is so strategic not really far from entertainment spots such as Batu Bolong beach, Splash Waterpark Bali and Taman Segara Madu Waterpark and we have many promotion channels such as B2B cooperation with travel agents, Internet Company related to guest house and hotel (traveloka.com), online and offline advertisement, shutter car pick up and public relation. The working capital will need Rp 1.121.025.000,- and with payback period in 1 years and 9 months, it will make money almost Rp 500.000.000,- in its first year of operation and RoA 7.49%.