Hotel firm seeks partners

Hotel firm seeks partners

SINGAPORE (AFP): An Indonesian conglomerate led by a son of President Soeharto has invited Asia-based hotel groups to participate in a major project in Bali worth US$1.6 billion, it was announced here yesterday.

JLW TransAct, a Singapore-based hotel and tourism property consultancy acting for the developers, said in a statement that the project comprises eight hotel sites in some of the choicest beachfront properties in Bali.

PT Bali Pecatu Graha, developer of the project, is majority- owned by Soeharto's youngest son Hutomo Mandala Putra.

The sites range in size from 49,100 to 139,500 square meters (528,316 to 1.5 million square feet). All are waterfront properties except for one located within a golf course site.

Infrastructure for the project, which will include an exclusive residential development, is now being built, the statement said.

The first phase of the project is expected to be completed by 1998.