Analysis of the Income Statement of Five-Star Hotels Listed on the Indonesia Stock Exchange (IDX) Using a Relative Sales Approach
DOI:
https://doi.org/10.33062/ajb.v10i02.141Keywords:
IDX; Income statement; Hotel; Profitability; Relative sales; RevPARAbstract
This study analyzes the income statements of five-star hotels listed on the Indonesia Stock Exchange (IDX) using a relative sales per room approach. The research aims to identify the factors influencing the profitability of five-star hotels, considering relative sales per room as a key performance indicator. The study employs a quantitative approach with descriptive and inferential analysis on the financial data of five-star hotel companies listed on IDX during the 2020–2024 period. The findings indicate a significant correlation between Revenue per Available Room (RevPAR) and hotel profitability, where effective pricing strategies and operational cost management impact financial performance. Segment analysis reveals that the largest revenue contribution comes from room sales (60–70%), followed by food & beverage (15–25%), and additional services (10–15%). This study provides practical implications for investors and hotel management in optimizing room pricing strategies and operational efficiency to enhance corporate financial performance.
References
Arvianto, E., & Nurasik. (2023). The Influence of ROA, NPM, EPS and EBIT on Share Price with Profitability as Moderation in Manufacturing Companies in The Consumption Goods Industrial Sector Listed on The Indonesia Stock Exchange 2019-2021. UMSIDA Preprint Server, 1. https://archive.umsida.ac.id/index.php/archive/preprint/view/2395
Dewi, R. (2020). Analisis Profitabilitas Pada Hotel Permai Luwuk Kabupaten Banggai Profitability Analysis at the Permai Luwuk Hotel Banggai Regency. Jurnal Ilmiah Produktif, 8(1), 22–26.
Gebbie, M. (Direktur I. (2025). Bali Hotel & Branded Residences Report 2025. March.
Hana’a Afifah, & Deni Ramdani. (2023). Pengaruh ROA dan ROE terhadap Kinerja Keuangan Perusahaan Sektor Hotel, Rekreasi dan Pariwisata. Manajemen Kreatif Jurnal, 1(2), 47–65. https://doi.org/10.55606/makreju.v1i2.1313
Hanjani, M., & Tinggi Ilmu Ekonomi YAI, S. (2025). Pengaruh Efisiensi Beban Operasional, Current Ratio Dan Debt To Equity Terhadap Kinerja Keuangan Pada Perusahaan Perhotelan di BEI Tahun 2019-2023. Jurnal Akademi Akuntansi Indonesia Padang, 5(1), 22–32. https://doi.org/10.31933/dambxm39
IGN Agung Wiryanata, & GAA Ista Pradnyayani. (2023). Pengaruh Tingkat Hunian Kamar dan Kegiatan MICE Terhadap Pendapatan Makanan dan Minuman di Hotel SR Bali. Journal of Accounting and Hospitality, 1(2), 59–67. https://doi.org/10.52352/jah.v1i2.1148
Ilmiah, B. B. (2015). Short And Long-Term Price Elasticity Of Room Demand-A Tool For Revenue Management : A Hotel Case Study In. 14(1), 1–12.
Indah, Y., Tyas, W., Ekonomi, F., & Panca, U. (2020). Analisis Rasio Keuangan Untuk Menilai Kinerja Keuangan Pada Elzatta Probolinggo. 8(1), 28–39.
Jacklyn Gunadi, Emelien Patricia Ivada, Gisela Olga Kurniawan, & Dyah Cahyasari. (2025). Analisis Laporan Keuangan Kinerja dan Pertumbuhan dalam Industri Perhotelan dengan Metode Analisis Vertikal dan Horizontal pada PT Hotel Sahid Jaya Internasional. AKUA: Jurnal Akuntansi Dan Keuangan, 4(1), 77–86. https://doi.org/10.54259/akua.v4i1.3697
Kurniasih, R. P., & Akhmadi, A. (2024). Profitability mediates the Influence of Operational Efficiency on Company Financial PerformanceKurniasih, R. P., & Akhmadi, A. (2024). Profitability mediates the Influence of Operational Efficiency on Company Financial Performance. International Journal o. International Journal of Social Science and Human Research, 7(07), 4634–4644.
Lee, M., Kim, J., & Defranco, A. L. (2021). Efficiency: The Next Frontier of Hotel Revenue Management Minwoo. July, 1–12. www.bu.edu/bhr Published
Lloyd-jones, A. R., & Luke, M. (2023). HVS OUTLOOK 2023 : BEYOND THE RECOVERY. January.
Mulyadi, T., & Danial, M. (2019). Analisis Pengendalian Biaya Operasional Dalam Kaitannya. April.
Nuri, S., Maulina, I., & Rikeniateni, R. (2025). Dampak Anggaran Biaya Operasional terhadap Profitabilitas Perusahaan.
Pariwisata, J. K., Insani, Y. D., Setiyariski, R., & Pelayanan, K. (2020). Meningkatkan Kualitas Pelayanan Front Office Department Melalui Tugas dan Tanggung Jawab Concierge Pada Hotel Savoy Homann. 2(1), 13–28.
Pramukty, R., & Kuntadi, C. (2020). Analisis Laporan Keuangan dan Pertumbuhan Ekonomi terhadap Pandemi Covid-19 pada Sektor Jasa di Jatimakmur.
Ramli, D., & Yusnaini, Y. (2022). Pengaruh Sales Growth, Debt To Equity Ratio, Total Assets Turnover Terhadap Return On Assets Pada Perusahaan Property Dan Real Estate Yang Terdaftar Di Bursa Efek Indonesia 2018-2020. Owner, 6(1), 722–734. https://doi.org/10.33395/owner.v6i1.647
Salamah, I., Ramadhan, Iq., Al-Hakim, J. H., Lisdawati, Damayanti, L., Nulhakim, L., & Amalia, L. (2020). Analisis Laporan Keuangan Pada Palace Hotel Cipanas (Studi pada PT Catur Situ Pratama). Akselerasi : Jurnal Ilmiah Nasional, 2(2), 36–57.
Downloads
Published
Issue
Section
License
Copyright (c) 2025 Luh Putu Kartika Dewi Dewi, Ni Nyoman Suli Asmara Yanti
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
