The cost of a hotel feasibility study in Indonesia in 2026

"How much does a hotel feasibility study cost?" is one of the first questions we hear from owners and developers considering a new hotel project in Indonesia. The honest answer: it depends — but the range is narrower and more predictable than most people assume.

In Indonesia in 2026, a properly scoped, lender-ready hotel feasibility study typically costs between IDR 150 million and IDR 450 million (roughly USD 9,000 to USD 28,000). Very small guesthouses can be scoped for less; large mixed-use resorts with multiple F&B outlets, wellness components or branded-residence layers can climb higher.

What drives the price

Four variables move the number more than anything else:

• Location and market depthA study in Bali or Jakarta relies on a deep, well-documented competitive set. A study for a secondary market — Lombok, Labuan Bajo, Sumba, Belitung — requires more primary fieldwork because the published data thins out quickly.
• Project scale and complexityA 40-key boutique property and a 250-key resort with three F&B outlets, banqueting, a spa and a beach club are not the same modelling exercise. The number of demand generators, revenue lines and cost centres directly scales the work.
• Depth of financial modellingA 10-year P&L with sensitivity tables, ROI, ROE, IRR and payback — the level lenders and equity partners expect — is a different deliverable to a two-page "gut check". Serious modelling is where the study earns its keep.
• Brand vs. independent recommendationIf the study also has to compare operators, model management-fee structures and stress-test brand-standard capex, that adds work — but it usually saves multiples of the fee once operator negotiations begin.

Indicative ranges we see

• Small boutique / guesthouse (up to 40 keys)IDR 120–180 million. Focused market read, streamlined P&L, one operator scenario.
• Mid-scale hotel (60–150 keys)IDR 200–320 million. Full 10-year P&L, competitor benchmarking, brand vs. independent comparison, lender-ready report.
• Resort / mixed-use (150+ keys, multiple outlets)IDR 320–450 million+. Primary fieldwork, multi-revenue-line modelling, operator short-list analysis, sensitivity and scenario testing.

How to judge value, not just price

The cheapest feasibility study is almost always the most expensive one — it either greenlights a project that shouldn't be built, or fails to defend a project that should. The three markers we'd look for in any provider:

• Real site timeDays on the ground in the catchment area, not desktop analysis from another country.
• Operator perspectiveAssumptions written by someone who has actually run a P&L, not just modelled one.
• Willingness to say noA study that never recommends "don't build this" isn't a study — it's marketing.

Relative to total project cost, a well-scoped feasibility study rarely exceeds 0.3–0.6% of the total build investment. Against that, the cost of an avoidable mistake — wrong positioning, wrong operator, wrong scale — usually runs into tens of billions of rupiah.