International Journal of Education and Social Science (IJESS)

This paper examines the case of a regional higher education institution that sought to renovate a dormitory via exploring its options to increase the number of on-campus residence hall beds. One option was the renovation of an existing residence hall. Using a cost-benefit analysis approach, the objective of this study was to quantify the costs associated with the renovation decision weighed against the projected positive academic, social, and monetary benefits to the host institution. The outcomes showed that the monetary values of renovating the considered dormitory did not exceed the cost, with a profitability index (PI) of 0.703 and 0.867, using total net operating income and total revenue, respectively.