JAKARTA, KOMPAS.com – Director of PT Ciputra Property Tbk Artadinata Djangkar revealed, W Hotel construction delayed until next December 2019.
Statement Arta is once again confirmed the confusion in the market hospitality Jakarta, and the disappearance of the name Hotel W Jakarta on the official website of Starwood Hotels.
To note, the Hotel W is one brand that is owned and developed by the giant network from the United States.
The decision to this delay, says Arta, taken under consideration competition in an upscale hotel in the central business distric (CBD) Jakarta with conditions excess supply but demand continues to decline.
Based on research by Colliers International Indonesia too, the performance of hospitality CBD Jakarta during the third quarter of 2016 was flat tends to fall.
it is characterized with an average occupancy rate or average occupancy rate (AOR), which only reached 54.6 percent or shift slipped 1 percent from the previous quarter.
Likewise with average daily rates or average daily rate (ADR) fixed by the numbers 125.22 US dollars.
According to Arta, with the addition of two new luxury hotel operating this year the Hotel Westin and Four Seasons, making the level of occupancy Hotel Raffles developed Ciputra Property dropped five percent.
“Before the two hotels the operation, Raffles Hotel AOR still at the level of 50-52 percent. Once they open, the occupancy rate dropped to about 45 percent, “said Arta answered questions Kompas.com, Tuesday (11/29/2016).
The fall in the occupancy rate has forced the company to cut ADR CTRP password to Rp 2.5 million to Rp 2.6 million.
Of course with such ADR, revenue per available room, or revenue per available room, or RevPAR to Rp 1.4 million.
Luckily, Raffles Hotel is still able to gain revenue from the segment banquet, and meeting space for the activities of meetings, incentives, conventions and exhibitions (MICE).
Raffles Hotel is located in the area of development of Ciputra World 1 Jakarta (CW1J) integrated with Lotte Shopping Avenue, DBS Bank Tower, MyHome, and the Ascott Service Residence, and Raffles Residences.
While the W Hotel in the area developer Ciputra World 2 Jakarta (CW2J) integrated with office space of 80,000 square meters in 47 floors, the Orchard Satrio as many as 369 units have been sold 95 percent, and the Residence is selling 98 percent of the total 122 units.
“If forced built now, it will only make the situation even more is not conducive and it is not feasible. Upscale market currently being ugly really, “complete Arta.
Read: Shutter Sales of Rp 629 billion, Ciputra reports The Newton
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