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.
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