President will open Mustika Sheraton Hotel<\/p>\n
JAKARTA (JP): President Soeharto will open Sheraton Mustika
\nYogyakarta Hotel next week, the first hotel owned by the Mustika
\nRatu Group.<\/p>\n
Mooryati Soedibyo, president of PT Mustika Princess which owns
\nthe hotel, said Soeharto would be accompanied by several
\nministers, foreign ambassadors, Chamber of Commerce members and
\nother businesspeople during his visit to Yogyakarta.<\/p>\n
\"A grand opening ceremony will be held to officially open the
\nhotel which has been operating since April,\" Mooryati said.<\/p>\n
Sheraton Mustika is owned by PT Mustika Princess Hotel, a
\njoint venture between PT Mustika Ratu Investama, the holding
\ncompany of Mustika Ratu Group and PT Kusuma Propertindo
\nDevelopment of the diversified Drassindo Group.<\/p>\n
Under a profit sharing scheme, international hotel chain ITT
\nSheraton will manage the hotel for 10 years.<\/p>\n
Mustika Ratu manufactures traditional cosmetic and medicine
\nproducts.<\/p>\n
The company invested about US$75 million to build the hotel,
\nabout US$31.5 million of which was financed by a loan from Bank
\nDuta and US$43.5 million was from the company's equity, Mooryati
\nsaid.<\/p>\n
She said the company expected to breakeven in three years and
\nobtain the return on investment in less than 10 years.<\/p>\n
\"If things continue to go well, I'm optimistic we can reach
\nthe target,\" she said, adding that the hotel's occupancy rate
\nsince April's soft opening was well above 60 percent.<\/p>\n
The hotel, designed for conventions and conferences, will
\ntarget foreign and local tourists as well as businesspeople.<\/p>\n
The hotel's current occupancy rate was about 90 percent, 60
\npercent of whom were foreign tourists, she said.<\/p>\n
Mooryati said she was optimistic the hotel could compete with
\nother hotels in the area as it was unique and featured
\ntraditional architecture.<\/p>\n
The hotel, built on 5.6 hectares, is about two kilometers from
\nthe Adisucipto Airport and 10 kilometers from Yogyakarta.<\/p>\n
It has eight floors, 213 standard rooms, 16 deluxe and 17
\nsuites.<\/p>\n
Adopting the traditional style and design of the Yogyakarta
\npalace, the hotel offers facilities ranging from leisure to
\nbusiness.<\/p>\n
Its convention hall is able to house 3,000 people, while its
\nspa offers traditional health and beauty treatments using modern
\nequipment.<\/p>\n
Local handicraft products are sold on the hotel's ground
\nfloor. The area is called the \"ramp shop area\", resembling
\nYogyakarta's Malioboro street which is known for its street
\nvendors, said Mooryati.<\/p>\n
The hotel's outdoor swimming pool was inspired by the pool
\nused by the Yogyakarta sultan, the Taman Sari Garden, she said.<\/p>\n
The hotel lobby is uniquely located on the seventh floor
\noverlooking Mount Merapi and an aviary is located between the two
\nwings of the hotel. (das)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/president-will-open-mustika-sheraton-hotel-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}