Window of Indonesia: Experiencing Unique Indonesia

Indonesia is the fourth populated country in the world with more than 1.128 tribes and 300 ethnics. Each tribe and ethnic has its own characteristic and uniqueness. With this rich diversity and supported by the nature beauty, the tourism sector is one of the biggest contributor for the nations income. Currently, Bali which is recognized worldwide is the most famous island in Indonesia. But due to this situation, Bali is often mistaken as a different part of Indonesia. The fact is Bali is just one of the thousand islands in Indonesia with potential to become tourist’s destination. Besides Bali, Indonesia is a large country that is difficult to visit aroundwithin a short trip. Due to this situation, PT Wisata Cemerlang Indonesia comes up with an idea to solve the problem which is called as Window of Indonesia (WOI). WOI offers multiple memorable events so called as experiences where visitors can actively participate in an immersive Indonesian Cultural Heritage environment. The experiences are events that engage visitors in a personal way which are wrapped in a story of Grand Mission where visitors can actively participate and absorb all of the experiences offered. The Grand Mission consists of 30 different traditional experiences for visitors to explore, meanwhile 6 premium experiences are offered as advance activity for visitors who wish to engage in the experiences deeper. As the top event WOI offers a modern cultural show powered with modern laser technology to leave indelible impressions. WOI is located in Gianyar, Bali with the size of 11 hectares. WOI target markets are children, young family with children and senior citizens either foreign or domestic tourists. The ticket price is Rp 125.000,00 for weekdays and Rp 200.000,00 for weekend. To deliver value through an unforgettable experience, WOI selects and develop employees as actors. The actors are originated from the native area in order to give a totally unique and memorable experience. The facilitators are required to have a passionate soul and always actively support visitors during experiences. WOI is funded with 100 % of equity to cover its initial investments and working capital. The capital structure of the firm itself consists of 71.25% private equity, 10.42% of founder equity and 18.33% of the local government participation. Using the assumptions such as cost of equity for private equity is 30% and for the others are 17.85%, the cost of equity sums up to 26.51%. Using these assumptions, the financial projections lead to an NPV of IDR 156.551.885.530, 33.02 % MIRR, and discounted payback period in 7 years and 9 months.