Hotel Prapatan plans expansion program

Hotel Prapatan plans expansion program

JAKARTA (JP): PT Hotel Prapatan announced plans yesterday to expand its hotel and restaurant business.

The company will open a four-star hotel, Hotel Aryaduta Pekanbaru, in Riau, and will extend its Japanese ShimaPY restaurant chain to Bandung and Surabaya, Prapatan corporate secretary Dodie Hermawan said yesterday.

"We will also open our convention center, Panti Arya, near the Jakarta Stock Market building in July," Hermawan said.

The convention center, designed to seat 1,500 people, will also contain several function rooms, he said.

Prapatan's plans include a second-phase refurbishment of its flagship hotel, Aryaduta Jakarta, Hermawan said.

"The Panti Arya convention center will compete with the Jakarta Convention Center near the Hilton Hotel and the permanent exhibition hall in the Kemayoran area," he said.

Prapatan, established 1969 and listed on the Jakarta stock exchange in 1984, expects a total sales turnover of Rp 58.1 billion ($24.6 million) this year and Rp 81.4 billion next year.

Financial director Syamsul Bahar said the expansion programs would cost $31 million: 30 percent would be funded by retained earnings and 70 percent by a syndicated loan.

He said $10 million had been allocated to renovate hotel Aryaduta Jakarta, $16.5 million to build the hotel in Pekanbaru, $2.5 to three million to build the Panti Arya convention center and $1.5 to two million to extend the Shima restaurant chain. (01)