NewsPT Metropolitan Land Tbk. (Metland), Launched Condotel in Bali
4 August 2011
Jakarta (26/04). PT Metropolitan Land Tbk (Metland) launched the Hotel Horison Seminyak, a three-star condotel at Double Six, Seminyak, Bali on April 26, 2011. This is the first strata-title condotel by Metland. The construction began in May 2011 with an investment of Rp 88 billion, financed from the IPO (Initial Public Offering). This hotel is expected to operate in early 2013.
Hotel Horison Seminyak is built on a 2400 square meters with building area of 7100 square meters, consists of four floors with 156 units. According to Wahyu Sulistio, General Manager Corporate Communication of Metland, one of the advantages of this condotel is that it has more spacious room i.e. 27 square meters compared to other condotels in its class. This condotel is also one of the first three star condotels built in the Double Six area, a favourite spot for both local and foreign tourists.
Typical condotel is not only a profitable investment for the owners, but they could also stay at the condotel for several days in a year. Tonny Eddy as the Project Marketing Consultant explained about the investment return from Hotel Horison Seminyak, "We give 24% income guarantee for the first three years since operation and 10% every year after that period." The target segment of buyers for this condotel are the upper middle class, while target market for hotel guests are the middle-class. Therefore, the Horison Group which was appointed as the operator will publish the room rates Rp 700,000 - Rp 5 million a day. For the condotel price starts from Rp 600 millions per unit.
PT Metropolitan Golden Management as the network operator of Hotel Horison throughout Indonesia is appointed on the basis of professionalism as proven by operating seven hotels with an average occupancy rate of 70% and 10% growth in the last three years. Especially in the year 2010, Hotel Horison’s average occupancy rate reached 78%.
Following the launch of Hotel Horison Seminyak, Metland will continue developing shopping centers, three star and four star hotels, and properties with strata-title status. The development starts from 2011 and most of them would be finished in 2013. One of the projects is Metland Cibitung , a real estate for lower to middle class market. In addition, there are also Metro Grand Mall, MGold Residence, Horison Bekasi Extension, Hotel Jakarta @ HOM Hotel, and Horison Seminyak, Bali.
For further information about Horison Seminyak Project can contact
Ir. Tony Eddy, MBA., MSc.
Tony Eddy & Associates
Phone : 021 576 0633 / 0816 766 188