Le Meridien invests US$50m<\/p>\n
JAKARTA (JP): Le Meridien Hotel has invested around US$50
\nmillion for the construction of its new tower standing adjacent
\nto the main building, $30 million of which was a loan from Hong
\nKong Bank, the hotel's owner said.<\/p>\n
Probosutedjo, president of PT Wisata Triloka Buana, which
\nmanages the hotel, said after the topping off ceremony of the new
\ntower yesterday that the construction of the tower was to meet
\nthe public demand for more hotel rooms.<\/p>\n
\"We've rejected room reservations lately,\" the tycoon said,
\nadding that the occupation rate of Le Meridien reaches 86
\npercent.<\/p>\n
The new tower will be 20 stories high with 150 rooms upon
\ncompletion, scheduled in 1997.<\/p>\n
The old hotel has 265 rooms, he said. Le Meridien Jakarta is
\nmanaged by Forte-Meridien.<\/p>\n
Probosutedjo said another company of his, the Kedaung Group,
\nwill construct a new four-star hotel in the city next year.<\/p>\n
The Kedaung Group will cooperate with The New Hong Kong, one
\nof the noted hotel chains in Hong Kong.<\/p>\n
Investment for the new hotel is estimated to reach $80
\nmillion, and the Kedaung Group, Probosutedjo said, will also
\nlikely cooperate with Hong Kong Bank in the project. (sur)<\/p>",
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