MRA Group to open Bvlgari resort and hotel in Bali<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
Indonesian media company MRA Group is expanding its business by
\nentering the hotel industry in a venture with Italian hotelier
\nBvlgari Hotels and Resorts.<\/p>\n
Their project, Bvlgari Hotels and Resorts Bali is located in
\nUluwatu and comprises 58 five-star villas. To be equipped with
\nBvlgari amenities and Balinese antiques, it is scheduled to be
\ncompleted by the end of this year.<\/p>\n
The resort is the second luxury hotel project under the
\nBvlgari brand after the first was opened last year in Milan,
\nItaly.<\/p>\n
\"I hope this second hotel will further enhance the Bvlgari
\nbrand image,\" group chief executive Francesco Trapani said.<\/p>\n
MRA subsidiary PT Jimbaran Villas, responsible for the
\nresorts, received a US$3.5 million syndicated term loan facility
\nlast week.<\/p>\n
The five-year loan was disbursed by Singapore-based DBS Bank
\nand through Bank Bukopin, Bank NISP, Bank Permata and Bank Panin
\nlocally, while Bank DBS Indonesia was appointed as the manager.<\/p>\n
\"The total investment for this project is $28 million, in
\nwhich 60 percent came from bank loans,\" MRA group CEO Soetikno
\nSoedarjo said on Friday.<\/p>\n
PT Jimbaran Villas is a joint-venture company with a 20
\npercent share owned by MRA -- also the license-holder of Bvlgari
\nHotels in the country and the owner of the franchised Bvlgari
\njewelry stores in Indonesia. The remaining 80 percent is in the
\nhands of foreign partners.<\/p>\n
The resort complex is designed in a contemporary Balinese
\nstyle by Italian architect Antonio Citterio. It will offer a
\nlarge spa, a private beach, two restaurants, a library, meeting
\nrooms and a Bvlgari store.<\/p>\n
The resort will be run by the luxury Marriott International
\nGroup, Inc.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/mra-group-to-open-bvlgari-resort-and-hotel-in-bali-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}