HI books Rp 15b in profit

HI books Rp 15b in profit

JAKARTA (JP): PT Hotel Indonesia Internasional Natour said on
Thursday it booked Rp 15 billion (US$2 million) in net profit for
the year 1999, exceeding its target by 15 percent.

The State owned hotel chain's president A.M. Suseto said the
company had initially targeted Rp 13 billion for this year's
profit. Suseto did not reveal the company's profit in 1998.

He said the company booked profits from its 16 hotels and two
restaurants, located in Jakarta, Bali, East and Central Java and
Sumatra.

However, he said, during the past two years the occupancy rate
of its Natour hotel in Bali had declined by 60 percent, and 30
percent outside Bali.

Hotel Indonesia Internasional and Hotel Natour were separated
companies before the government combined them last year.

"For the year 2000 the government targets Rp 25 billion in net
profit from its hotel business," he said as quoted by Antara.

He said to achieve the target, the company would engage in
"direct selling" by participating in various international
conventions. (03)