In the midst of calls for a moratorium on new hotel construction in Bali, PT Intiwhiz has commenced construction of a 135-room hotel on Jalan Kartika Plaza in Kuta.
The property will operate under the brand Grand Whiz.
Bisnis Bali reports that the President Director and CEO of PT Intiwhiz, Moerdjianto Soesilo Tjahjono, laid the cornerstone of the hotel on Monday. December 27, 2010. The property occupies a 2,035 square meter plot with a total investment of Rp. 65 billion (US$7.2 million).
"Kuta is the center for both international and domestic tourists visiting Bali. For this reason, we are convinced that we can succeed with a hotel in this location," explained Moerdjianto.
Moerdjianto said his company has been in he hotel business since 1990 operating as PT Intiland Development, establishing the new company PT Intiwhiz three years ago. In addition to constructing new hotels, Grand Whiz Hotels are also prepared to acquire existing properties who share their operating concept.
The company is targeting to operate 60 two and three star hotels across Indonesia in its first five years of existence.
The new hotel company is mainly targeting the domestic market segment expected to comprise 80% of its market mix. Initial business models are to achieve an average 60% occupancy with a heavy emphasis on Internet sales.
The Bali property is slated for completion in October 2011, in time for the Christmas and New Year's peak seasons.