A Feasibility Study of Hotel Business Development in Chonburi Province

Abstract

The objective of this research is to examine the financial feasibility of hotel business development in Mueang District, Chonburi Province. Both secondary and primary data were utilized, with primary data collected through in-depth interviews with three businesses. This study aims to provide valuable information for investors, hotel entrepreneurs, and individuals interested in the hotel industry in Chonburi Province. A cost–benefit analysis was conducted over a 20-year project horizon, and the results indicate that hotel development in Mueang District, Chonburi, is financially viable. The project site shows strong potential for real estate development, and the financial indicators confirm investment feasibility: the Net Present Value (NPV) is 8,403,023 Baht, the Benefit–Cost Ratio (B/C ratio) is 1.03, and the Internal Rate of Return (IRR) is 6.78 percent. Compared with the discount rate of 6.36 percent, these findings meet the investment decision criteria. Therefore, the financial feasibility analysis confirms that hotel business development in Mueang District, Chonburi Province, presents an attractive investment opportunity.