Commercial & Industrial Property News Update

Indonesia - 60 New Hotels To Open In Bali By 2014


October 5, 2012

According to a forecast by Knight Frank, 60 new hotel projects currently under construction will bring the total rooms available to more than 10,000 in two years' time.


With 60 hotel projects currently ongoing in Indonesia's tourist hotspot Bali, the total number of hotel rooms on the island will cross the 10,000 mark in two years' time.


Knight Frank said that the number of rooms in Bali is likely to hit 10,466 in 2014, as the upcoming hotels are completed and launched. The property research firm added that up till 2014, the highest number of new hotels will be built in Kuta.


Hotel room supply on Bali has continued to grow, with 3,922 new rooms added in H2 2012, said Fakky Hidayat, Senior Associate Director of Knight Frank.


He also said that five-star hotels were the most plentiful for the fist half of the year, making up 37.7% of all hotel rooms on the island. Four-star hotel rooms comprised 31.3%, while three-star hotels made up 31%, he added.

An increase in domestic and foreign tourists have caused the number of four-star hotels in Bali to grow at the fastest rate.

Four-star hotels rose 50.2% with 3,358 rooms in the first half of the year, said Fakky, adding that in comparison there were only 924 five-star hotel rooms in Nusa Dua counted during the same period.

Seminyak, Sanur and Legian are dominated by four-star hotels, with 619, 1,025 and 617 rooms respectively.

Tags: Commercial real estate, Investment properties, Shop for rent, Income units

Related News

Tags

Retail Property News
,
commercial real estate
,
investment properties
,
Shop for rent
,
Income units

Bookmarks

Quick Links
sp-img1

Guides & Resources Commercial & Industrial Property Articles and Guides

sp-img1

Popular News 2012 Year of Australian Commercial Property?

sp-img1

Commercial Property in Australia Buying property in Australia