Apartment blocks to become hotels<\/p>\n
JAKARTA (JP): Four money-losing apartment complexes in Jakarta
\nare to be converted into hotels in a bid to make them more
\nprofitable, according to an official of the Ministry of Tourism,
\nPost and Telecommunications.<\/p>\n
Acep Hidayat, the ministry's director of tourism and
\naccommodation development, told Antara over the weekend that the
\nconversion of the four apartment buildings into hotels would be
\ncarried out in accordance with Ministerial Decree No.94\/1987
\nconcerning hotel classification.<\/p>\n
One of the apartment complexes to be converted is Le Crystal
\nin South Jakarta, Acep said.<\/p>\n
"This conversion will affect the hotel industry, which is
\nalready suffering from an oversupply of hotel rooms. Moreover, a
\nnumber of new hotel projects are currently still being built," he
\nsaid.<\/p>\n
Data at Acep's office show that there are 69 hotels in Jakarta
\nwith a total of 12,428 rooms. Occupancy rates average between 60
\nand 70 percent.<\/p>\n
In connection with the conversion plan, Acep urged executives
\nin the banking industry to thoroughly study credit allocations
\nfor the development of new apartments, saying that a failure to
\ndo so would be detrimental to many parties, including the hotel
\nindustry, the property sector and the banks themselves. (hhr)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/apartment-blocks-to-become-hotels-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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