RI, S'pore to build hotel

RI, S'pore to build hotel

SINGAPORE (AFP): Salim Group of Indonesia, Singapore Airlines and Straits Steamship Land Ltd. (SSL) are to jointly develop a US$40-million hotel in Manado, North Sulawesi, officials said.

The 250-room hotel project followed a recently concluded agreement between Indonesia and Singapore to develop tourism potential, they said.

SSL, a Singapore-based management and investment company under the Keppel Group, has a 50-percent stake in the project with the Indonesian group holding 30 percent and SIA the remaining 20 percent.

A joint statement by the three parties said the four-star hotel would be built on a 20-hectare (49.4-acre) site at Tateli near central Manado city.

SSL, which has pumped in investments totaling $400 million in Indonesia, is also developing two resorts in Bintan island and Bali.

SIA and SSL jointly developed a hotel in Yogyakarta, which commenced operations recently, the statement said.