Bali's Last Major Resort

(9/28/2009)

Bisnis Indonesia reports that PT Suryainti Permata is investing Rp. 1 trillion (US$100 million) to build Bali's "last" mega-resort - The Rich Prada which will include a 5,000 square meter spa.

The President Director of PT Suryainti Permata, Henry Gunawan, said the new 5-star resort will cover a 20-hectare site near Uluwatu in South Bali. The five-story high resort is reportedly in the process of laying its structural foundations with a targeted operational date of 2010. Funding for the project remains unclear with Gunawan telling the press that financing negotiation are ongoing. He went on to explain, "what's clear, we are currently acting as the developer, while other assets are supported by our business partners and subject to discussion in a special shareholders' meeting."

He also explained that Surainti is only involved in building the hotel, while the land for the project is being supplied by PT Pecatu Graha who own the large tourist investment area at Dreamland.

Gunawan revealed that the proposed project will have 900 rooms to be internationally managed by The Rich Prada. He also admitted that the project may represent the last major hotel development in Bali, given the governments efforts to curtail new hotel development in the Island.

Surainti is one of East Java's key property development companies, with extensive investments in luxury commercial and residential projects.

The Secretary of the Bali Chapter of the Indonesian Hotel and Restaurant Association (PHRI), Perry Markus, said his group supports the development of new tourism infrastructure able to serve changing market demand. Markus said his organization had little information on the proposed project because few new projects are coordinated with the local and provincial governments. He also mentioned growing resistance among the people of Bali to new hotel developments, a sentiment supported by both Bali's former and current governor. That resistance is based on a study conducted by a research group from Bali's Udayana University calling for a moratorium on new hotel projects on the island.