One of the agro-tourism areas in Indonesia is Gunung Mas Agrotourism which is located in Cisarua, Bogor with an area of 66.72 km2. Gunung Mas Agrotourism as a tourist attraction that offers a natural panorama with its various tourist attractions, 2020 became natural tourism with the largest number of visitors in Bogor. As one of the tea plantation business bases for PTPN VIII, tea plantations in the Gunung Mas Agrotourism in all production processes to their distribution are an activity that forms a value chain that can be used as an instrument for analyzing the company's strategy in improving the quality of competition in the market. This study aims: (1) assess tourist preferences for tourist attractions in Gunung Mas Agrotourism; and (2) assess the economic potential resulting from the willingness to pay (WTP) in Gunung Mas Agrotourism. The method used is a survey method with a quantitative approach with an analytical hierarchy process (AHP), conjoint analysis (CA), and conditional logit model (CLM). The result is that the increase in utility continues to occur in any increase in the level of attributes in tourist attractions and prices in Gunung Mas Agrotourism, especially the tea walk which is also an important attribute for tourists to choose. The economic potential that can be generated from tourist visits to the Gunung Mas Agrotourism tourist attraction is very large, and it is strongly related to tourist preferences.

Keywords: value chain, preference, willingness to pay, conjoint analysis, conditional logit