Operating Villas vs Off-Plan: Comparing Two Bali Resort Investment Paths

A resort with operating units and unfinished structures should not be valued as one homogeneous asset. Santara Villas Resort offers a useful comparison: four furnished villas are already operating, while three additional villas require interior completion.

For the operating component, test actual occupancy, average daily rate, cancellations, OTA commissions, payroll, utilities and maintenance. For the unfinished component, verify construction condition, bill of quantities, completion schedule and contingency.

Owner-stated asking prices are USD 780,000 for Phase 1, USD 390,000 for Phase 2 plus about USD 100,000 finishing CAPEX, or USD 1,180,000 for the full complex. Rebuild every return scenario with your own assumptions.

Details: https://santarabali.com/

Model: https://santarabali.com/finmodel

Disclosure: figures are supplied by the owner and require independent due diligence. Not investment advice.