Rainbow Hills is developing US$150m resort
Rainbow Hills is developing US$150m resort
BOGOR, West Java (JP): PT Rainbow Hills Development on
Saturday started the construction of a five-star Sheraton hotel
near its sport, leisure and residential resort currently being
built at Citeureup, about 40 kilometers south of Jakarta.
The start of the construction was marked by the laying of a
corner stone for the hotel's foundation by former vice president
Sudharmono in a ceremony attended by Coordinating Minister for
People's Welfare Azwar Anas and State Minister of Public Housing
Akbar Tandjung.
Rainbow Hills' chief commissioner, Isa Danubrata, said the
US$55 million hotel will have 320 guest rooms, including 50
mountain spa suites.
The hotel will be managed by the Boston-based ITT Sheraton
Corporation, a subsidiary of ITT Corporation, a worldwide hotel
and resort network managing more than 400 hotels in 61 countries.
Isa explained that the construction of the US$150 million
sport, leisure and residential resort on a 450-hectare plot has
been almost completed.
The resort will have a 27-hole golf course designed by J.
Michael Poellot (JMP) of California, he said, adding that the
master plan for the hotel and resort projects was designed by the
Hubert Group (THG) of Australia and the landscape by the SWA
Landscaping Group of California.
Opening
The first nine holes of the golf course will be opened later
this year, while the hotel is expected to start operating in
early 1996, Isa said.
Area Manager of ITT Sheraton Indonesia, Erhard Noreisch, said
the Sheraton Rainbow Hills Golf Resort Hotel will be its ninth
hotel in Indonesia.
ITT Sheraton currently manages hotels in Bandar Lampung
(southern Sumatra), Yogyakarta, Surabaya (East Java) and the
islands of Lombok and Bali. Other hotels that ITT Sheraton will
manage are under construction in Yogyakarta, Surabaya, Bali, Solo
(Central Java) and Jakarta.
Isa said Rainbow Hills, which is a subsidiary of the Mega Guna
Group, will also develop 700 units of town houses and Agro Theme
Park, an agricultural flora and fauna park to be equipped with
leisure, research and development facilities for public and
agricultural students.
The theme park will be built on a 25-hectare lot at the main
entrance of the Rainbow Hills resort, he added.
Meanwhile, chairman of Mega Guna Group Muljadi Senjaya said
that the group, which totally owns the Citeureup project, will
finance 50 percent of the costs for its construction with its
equity, while the remaining 50 percent will be financed with a
loan from a syndication of five banks, including the state-owned
Bank BNI, Bank Internasional Indonesia, Sake Bank, Bank Central
Dagang and Bank PDFCI.(02)