The Regent hotel chain is set to return to Indonesia to manage and market a new luxury property to be built by Grand Pacific Properties Ltd. (GPP) on a four-hectare estate on Sanur beach, Bali, The Jakarta Post reported Tuesday (8/4/08). The investment is between $75 million and $100 million.
Carlson Hotels Asia Pacific Pty., which owns the Regent brand, signed agreements with GPP in Singapore last week covering hotel development services, hotel management and marketing trade licenses.
Victoria Tahir, GPP's managing director said GPP would also develop separate luxury villas, called the Regent Residences, near The Regent Bali complex.
"The Regent's return to Indonesia reflects a stronger investor confidence in the outlook of Bali as a favorite destination for global tourists, and we are glad to contribute to this momentum of growth," she said.
The Regent once managed a five-star hotel in the Kuningan area in Jakarta but withdrew a few years ago after the hotel was inundated by floodwater. The property is now managed by the Four Seasons hotel chain.
Find Article by Date