Zhodnocení investičního projektu v golfovém resortu

Abstract

The purpose of this bachelor thesis is to evaluate the investment project in golf resort by using the net present value criterium and its sensitivity towards the change of chosen factors. In methodological and theoretical part a detailed description of the investment decision making is included as well as the classification of investment, company goals, investment strategies and other topics. Furthermore, particular dynamic criteria usually used for the assessment of investments are listed in this part too. In the next part the chosen investing organization is introduced together with its investing intentions. Additionally this part includes estimation of the fundamental parameters of investment that will be used for future analysis. Finally the chosen investment project is evaluated through dynamic criterium net present value. The result of net present value, namely -11 684 346 Kč is not very favourable for the investing organization because with this result the investment is not recommended. However, using one and two factor sensitivity analysis is used for finding possible solutions for reaching the positive results of net present value. Probably the most realistic option is to lower the offer for realization by 25 percent, which represents the highest costs and also to increase the annual fees by 25 percent. Another possibility how to make the investment work is to obtain financial support from its maternity organization, which purpose would be to ensure advertising on golf pitches during next ten years. The necessary amount would be 1 670 000Kč. It is obvious from the results that running of the golf pitch Ropice Golf Resort is very much dependant on its maternity organization. Without their financial support the golf pitch would not be able to reach such a huge revenues and its existence would be endangered.