Ciputra Pours Rp 1 Trillion for Luxurious Rosewood Resorts and Villas

JAKARTA, – Considering the high demand and scarce supply luxury class accommodation facilities (five of diamonds), PT Ciputra Property Tbk (CTRP) hasten the development of Rosewood Luxurious Resorts and Villas in Tabanan, Bali.

Project occupies an area of ​​80 hectares will begin the process in the first quarter of 2014, divided into several stages of development. Phase I covering 12 acres, contains 120 units and 140 hotel rooms, 40 of which concept villa is offered to the public with strata ownership. While his suite of 60 units.

Director of Ciputra Property Artadinata Djangkar said, in contrast to hotels classes 3 and 4, the luxury class hospitality business is a niche market with specific qualifications and special service standards. Players were relatively rare, because luxury hotels require long-term investment.

“Luxury will always be needed. Though a niche market is not as big as the economy and medium-sized hotel, but the outlook is uncertain and will continue to be sought. Proven average occupancy rate of luxury hotels in Bali 55-65 percent with a longer stay (length of stay) longer that 3 to 4 days, “said Arta to Kompas.com, in Jakarta, Tuesday (30/07/2013).

In order to realize the construction of the first phase, Ciputra Property poured funds amounting to Rp 1 trillion to fund a third of the company’s internal composition, a third of bank loans, and the rest is from the sale of villas strata.

Ciputra Property operation targeting the first phase in 2016 with a projected gross operating profit of Rp 60 billion per year. There is also the phase II area of ​​24 hectares will be started before the first phase opened.

Ciputra Property is a subsidiary of PT Ciputra Development Tbk (CTRA), which posted sales (pre-sales) during the first semester of 2013 amounted to Rp 237.6 billion. This amount is only 13.5 per cent of the annual target of Rp 1.75 trillion.

While they were able to achieve revenue was Rp 844.5 billion, an increase of 174 per cent rather than the first half of 2012 amounting to Rp 308.7 billion. In total, the amount of new revenue is 43 percent of the annual revenue target of Rp 1.95 trillion.

In addition to working on Rosewood Luxurious Resorts and Villas, Ciputra Property CitraDream also develop budget hotels in Cirebon, Semarang, Bandung, Yogyakarta, Serpong, Bintaro, Bengkulu and Banjarmasin and build superblock area of ​​7.2 hectares in Puri Indah, West Jakarta.