Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · Bali Hotels Being Hung Out to Dry
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Bali Hotels
Bali Villas
Special Deals!
Packages
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Diving
Golf
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
Home
 
Bali Update
Subscribe to our free weekly newsletter!
 
PATA header
PATA Gold Award 2007
Bali Update
PATA Gold Award Winner 2007
 
Bali Contact
Bali Discovery Tours
Komplek Pertokoan
Sanur Raya No. 27
Jl. By Pass Ngurah Rai,
Sanur, Bali, Indonesia

Tel:
++62 361 286 283

Fax:
++62 361 286 284

U.S.A. Fax:(toll free)
1-800-506-8633

U.K. Fax:
++44-20-7000-1235

Australian Fax:
++61-2-94750419

24h:
++62 812 3819724

Bali Discovery

SITE PATA ASITA
Bali News

Bali Hotels Being Hung Out to Dry

Hotel Association Chairman in Bali Suggests International Crime and Money Laundering Behind Current Building Boom in New Hotels


Bali News: Bali, Indonesia, hotel rooms, overbuilding, PHRI, Indonesian hotel and restaurant association, Tjokorda Oka Artha Ardhana Sukawati, Cok Ace, money laundering, break even
Click Image to Enlarge

(12/24/2012)

The chairman of the Bali chapter of the Indonesian Hotel and Restaurant Association (PHRI-Bali), Tjokorda Oka Artha Ardhana Sukawati (Cok Ace), has publicly stated his suspicions that some of the funding of new hotel projects is link to international crime and money laundering.

As reported by Beritabali.com, Cok Ace’s concerns are linked to the fact that the large-scale funding of new hotel projects in Bali is detached from any rational calculation of the actual need for new hotel rooms.

The PHRI leaders said that from a business standpoint, the current building boom made no sense. He explained that although the amounts being invested in these hotels is large, the actual rooms rate at which these rooms will be sold is very low.

In comments made on Tuesday, December 18, 2012, Cok Ace said: “If we look at the value of the investment in comparison with the (room) selling price it all makes no business sense. For instance, an investment of Rp. 6 billion per room (US$619,000)  that same room is sold for Rp. 300,000 (US$31) a night. This is an impossibility. How are they calculating their break even point?”

Tjokorda Sukawaiti also revealed that foreigners own many hotels being built in Bali but registered their businesses in the name of locals. He also said that while the PHRI officially estimates there are 65,000 hotel rooms on Bali, the “real” figure is probably closer to 98,000 rooms.


© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to http://www.balidiscovery.com.

       

 
Bali News by Bali Update
Subscribe to the Bali Update
Receive the latest news from Bali by email!



Our [Privacy Statement] explains how we handle the data you are providing.

 
Bali News by Bali Update
Explore the Archive of the Bali Update
Find related articles in our news archive!




or try to use Google Search :

Home · Bali Hotels · Bali Villas · Bali Excursions · Bali Sports · Bali News · Site Map · RSS

Bali News: More News
Law Enforcement is the Key
Bali Governor Tells Conference on Investment that Clear Rule of Law and Simplified Procedures Crucial to Economic Growth
(2/26/2017)
Uninspired Environmental Destruction
Police Seize Four Turtles from Taman Inspirasi Mertasai in Sanur Bali
(2/26/2017)
Seeing Stars in Bali
Four Season Bali and The Ayana Villas Wins Coveted Stars from the Forbes Travel Guide
(2/26/2017)
A Bali Adventure in Compassion
Bali Adventure Tours Comes to the Rescue in Songan Helping Landslide Victims
(2/26/2017)
Power Sharing
PLN Bali Has Sufficient Power Surplus for the Coming Few Years
(2/26/2017)
Nothing Above a Whisper, Please
Hindu Leaders Remind Public to Stay Home and Stay Quiet on Nyepi Day, Tuesday, March 28, 2017
(2/26/2017)
A Death Unexpected
65-year-old American Expatriate, John Thrasher, Found Dead in his Candidasa, East Bali Villa
(2/26/2017)
Tax as a Target
Bali Governor Wants Price Controls on Bali Hotels
(2/25/2017)
Close Every Door to Me
Sriwijaya Flight from China to Bali Returns to Guangzhou to Close a Door
(2/25/2017)
Connecting Communities Through Film
BALINALE Bali International Film Festival September 24-30, 2017
(2/26/2017)
Royals to Annoy All in Bali?
Bali Police Promise Extraordinary Security During Visit of Saudi Arabian King March 4-9. 2017
(2/25/2017)
When Your Girdle is Killing You
South African Woman Caught at Bali Airport with 1.1 kilograms of Methamphetamines Stashed in her Corset
(2/26/2017)
All [News]!