The luxury St. Regis Resort & Residence brand will open an 81 hotel suite, 41 villa and 14 private residence property within the Nusa Dua Complex in July of 2008.
Owned by the PT Rajawali Corporation, who also own the 271-room Laguna Resort & Spa, the new development is set on an 8.8 hectare lot leased from the Bali Tourism Development Corporation (BTDC).
The Resort, with an investment value of US$80 million, is owned by Indonesian businessman Peter Sondakh.
According to Edward Hotter, CEO for Hotel Operations at PT Rajawali, the new development is being built by Ground Kent Architects of Australia together with Bensley Design Studio from the Philippines.
Situated on a plot with direct access to the Bali Golf & Country Club, the published room rates will range from US$400 to US$3,000 per night.
Suites and residences will be available for sale with post-purchase rental management provided by St. Regis Resorts & Residences. Sales prices for the villas will start at US$700,000 and from US$1.2 million for the private residences. Press reports state that some of the top-end residences priced at US$2.2 million have already been sold.
Purchaser-investors have been promised a guaranteed 7% return on investment for the first three years and 40% of room rentals in the years thereafter.
St. Regis is a luxury brand of Starwood Hotels and Resorts Worldwide currently operating 12 properties world-wide, with 9 new properties - including Bali, now under development.
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