Condotel Business Increasing

Condotel Business  increasingly promising not only at the site of the tourist areas in Indonesia, but also the other major cities. Jakarta is the capital of the 34 provinces in Indonesia which is highly prospective for business condominium hotel (condotel).

Similarly, GM presented the Grand Orange Condotel Marketing New Market, Ratdi Gunawan, to Kompas.com in Jakarta, Tuesday (10/21/2014). According to him, the prospect of stronger Condotel, especially if the location is in a premium location.

"Certainly, with the premium location of the hotel occupancy rate will increase and will result in the room rate is also high. In the end also produces a return on investment or ROI is high," said Ratdi.

He said, the higher the ROI is obtained, then the sooner the payback of the hotel investment. Moreover, if the hotel investment in the form of owned condotel.

Currently, the Grand Orange Condotel New Market is a four star hotel with a land title (strata title) in the area near the State Palace, Jakarta. According to him, the location of the Condotel is a premium area surrounded the central government offices, ministries, and state.

Previously, continued Ratdi, it also offers a concept similar investment in Bali, namely Condotel Grand Orange Pandavas Beach. Condotel Condotel is one example property rights certificate.

"The increase in the price of land property in Bali is now above its 100 percent per year. Thus, not surprisingly, many Condotel marketed with use rights certificate 30 years, after 30 years of ownership over," said Ratdi.

Ratdi said, for investors, it dared to offer installment 27 million per month to have one unit of the Grand Orange Condotel New Market. For a four-star condotel certified property that it guarantees up to 80 percent profit sharing.

"In Bali of owned land is increasingly limited, so the price is high. This is what makes the condotel business potential, particularly Condotel certified property, not rent. Well, this is also true in the city center whose lands are also more expensive," said Ratdi.

Full Hotel

Until June 2014 and the Jakarta filled 29,000 hotel rooms three, four and five. Cushman and Wakefield Indonesia said that, of the total number of hotel rooms is 27 percent of whom are three-star, four-star hotel 37 percent, and 36 percent of the remaining five-star hotel.

Geographically, according to Senior Associate Director and Head of Research & Advisory at Cushman & Wakefield Indonesia, Arief Rahardjo N, about 60 percent of the total hotel room supply 3 to 5 are in the central business district (CBD) Jakarta and Central Jakarta.

"While in Jakarta, West, North, South and reached 15 percent, 11 percent, and 10 percent. The increase in the number of hotels in East Jakarta recorded simultaneously with several projects under construction along Jl DI Panjaitan and Jl MT Haryono in response to the reopening of the Halim Perdanakusuma as supporting commercial domestic airport in Jakarta, "said Arief to Kompas.com, Tuesday (10/14/2014) last week.

Boom number of new hotel room supply, said Arif, also accompanied by positive growth in average room rate (ARR) and revenue per available room (RevPAR). In foreign currency (US dollars), the ARR 3 to 5 star hotels, and luxury increased by 19 percent, 6 percent, 8 percent, and 12 percent per year to 43.1 US dollars, US dollars 63.9, 144.5 US dollars and 190.9 US dollars.

Source: kompas.com

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