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Ekonomija: teorija i praksa
2012, vol. 5, iss. 1, pp. 39-57
Investment justification of reconstruction project of the hotel 'Narvik' ad Kikinda
Maksimović Marijana
Garancijski fond Autonomne Pokrajine Vojvodine, Novi Sad

email: marijana.maksimovic@garfondapv.org.rs
Keywords: investments; investment project assessment; static project assessment; project liquidity; profitability threshold level; present net value; internal income rate; discounted return period
Abstract
Hotel 'Narvik' opened for work in 1980. Difficult economic conditions in the years of transition were unfavorable for the necessary renovations of the hotel and so it was not possible to provide an adequate response to the tourist demand. This research study deals with the still evident difficult situation of some formerly successful companies that experienced real hardship in the times of transition. Furthermore, the aim of this paper is to point to the fact that such companies can become profitable again after the necessary restructuring. This paper presents research into development potentials and justifiable investments into the reconstruction of the 'Narvik' hotel, aiming at achieving profitability and regaining the image of a hotel offering high quality tourist service. The given assessment of expected results, based on relevant economic and financial parameters, justify the planned investments into the reconstruction of this object. These claims support the facts saying that the dynamic indicators of new investments as the criteria for project acceptance are satisfactory. The business operations of the Company with new investments are liquid throughout the project duration, while static indicators of business projections are more favorable than the static indicators of business operations prior to investing. All the above mentioned facts prove the investments justified, while also stressing the necessity for finding external long-term financial resources.
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article language: Serbian
document type: Original Scientific Paper
published in SCIndeks: 22/03/2013

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