Foreign companies eye state-owned hotel projects<\/p>\n
JAKARTA (JP): Twenty-five foreign firms are interested in
\njoining the program of PT Hotel Indonesia International
\nCorporation and Natour, a state-owned hotel operator, to
\nrefurbish and extend its hotels.<\/p>\n
The company's chief commissioner, Dorodjatun Kuntjoro-Jakti,
\nsaid yesterday: \"We have negotiated with 25 leading firms from
\nMalaysia, Singapore, Australia and Japan. We will select some of
\nthe firms for the projects which are estimated to cost US$500
\nmillion.\"<\/p>\n
Between $213,000 and $426,000 will pay for new facilities at
\nour hotels, including a 2,000-seat convention center at the Grand
\nBali Beach hotel, Antara news agency quoted Dorodjatun as saying
\nat a ceremony to mark the 30th anniversary of the Grand Bali
\nBeach Hotel in Sanur, Bali.<\/p>\n
Hotel Indonesia International Corporation and Natour was
\nformed in 1993 as a holding company for PT Hotel Indonesia
\nInternational and PT Natour to improve their efficiency. Hotel
\nIndonesia International Corporation and Natour now has Rp 90
\nbillion ($38.3 million) in outstanding loans.<\/p>\n
Hotel Indonesia International, established 1962, runs seven
\nhotels with 2,329 rooms. Natour, established 1953, manages 10
\nhotels with 1,065 rooms.<\/p>\n
Hotel Indonesia International, has lost more than Rp 22
\nbillion ($9.3 million) a year since 1993 and is likely to lose Rp
\n27.59 billion this year.<\/p>\n
Natour made a Rp 2.6 billion profit in 1995 after suffering a
\nRp 2.2-billion loss the previous year.<\/p>\n
Hotel Indonesia International Corporation and Natour's
\npresident, Indra Setiawan, said recently his company was planning
\nto spend millions of dollars refurbishing its old hotels.<\/p>\n
Private firms have been invited to join the refurbishment
\nprojects under a build, transfer and operate scheme or a build,
\noperate and own arrangement. They may also establish joint
\nventures with the company.<\/p>\n
\"Private firms are invited to set up joint venture companies
\nto refurbish Ambarukmo Hotel in Yogyakarta, to expand Hotel
\nWisata and Hotel Indonesia in Jakarta under a build, transfer and
\noperate scheme and to expand Dibya Puri Hotel in Semarang,
\nCentral Java, and Darma Deli Hotel in Medan, North Sumatra, under
\na joint operation scheme,\" he said.<\/p>\n
Minister of Tourism, Post and Telecommunications Joop Ave has
\nreiterated that the schemes are the best way for Hotel Indonesia
\nInternational Corporation and Natour to undertake the projects.<\/p>\n
He said the state would give no more capital to Hotel
\nIndonesia International Corporation and Natour, which is trying
\nto restructure its finances.<\/p>\n
\"The era of government-equity support in state-owned
\nenterprises has ended,\" the minister said. (icn)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/foreign-companies-eye-state-owned-hotel-projects-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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