Soeharto dedicates hotel

JAKARTA (JP): President Soeharto inaugurated the five-star Regent Hotel Jakarta yesterday, five years after the initial ground breaking in May 1988.

The 364-room hotel began its soft operation in July, nearly four years behind schedule. The hotel is 43 percent owned by a group of four businessmen -- Fahmy Idris, Soegeng Saryadi, Said Umar Husin and Maher Algadrie -- 52 percent by a syndication comprised of Bank Dagang Negara, Bank Negara Indonesia, Bank Bumi Daya and Bank Duta and five percent by the Four Seasons-Regent Hotel chain.

Fahmy said yesterday that construction was late due to technical and financial problems.

"The changing of the hotel design, for example, took about six months," he said.

The hotel, with 800 employees, is built on 2.4 hectares on Jl. Rasuna Said.

Total investment for the hotel reached $235 million, he said. (icn)