PT. Mugi Rekso Abadi (MRA), the developers of operators of the ultra-luxury Bulgari Resort have reaffirmed their intention to open their 58-unit property by late 2005.
According to Bulgari franchise-holder and Managing Director of MRA, Soetikno Soedarjo, the hotel is putting quality before quantity in its marketing strategies, targeting an occupancy of only 40% in its first year of operation, increasing to no more than 65% by year five. Reflecting the same conservative approach to the new venture, Soedardjo told the Indonesian-language Bisnis Indonesia that the project is slated for financial break-even only in its sixth year of operation.
Comprised of 58 luxury villas, the Bali Bulgari Resort and Spa will feature a complete spa and two restaurants.
The Bali property will be the second luxury property to be opened under the Bulgari brand, normally associated with fine jewelry. The first Bulgari property operates in Milan, Italy.
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