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
Territorial Dispute
Three Online Taxi Drivers Beaten at Bali’s Ngurah Rai Airport
(4/23/2017)
Qatar Airways Three Times a Day to Bali
Qatar Airways Launching Third Daily Direct Service Between Doha and Bali
(4/23/2017)
Swinging for Charities
World Cup Charity Golf Tournament at New Kuta Golf Club Saturday, May 20, 2017
(4/23/2017)
Strong Start for Foreign Arrival Figures for 2017
Bali by the Numbers Foreign Tourist Arrivals to Bali Up 25.95% for January-February 2017. Mainland Chinese Visitors Take a Commanding Lead in Bali Tourism.
(4/23/2017)
What? Fore!
Yak Magazine Golf Community Cup – Saturday, April 29, 2017
(4/23/2017)
Statuary Reef
Underwater Monument Garden Erected at Tejakula, North Bali
(4/23/2017)
Bali: Just Too Many Rooms
GIPI Official Says Continuing Oversupply of Rooms Reduces Average Occupancy at Bali Hotels to 35%
(4/23/2017)
For Your Bali Shopping List
5 Things to Buy During a Bali Holiday
(4/23/2017)
Fugitive Criminal Seeking an Escape
Chinese Criminal Attempts Suicide While Awaiting Extradition to China
(4/23/2017)
Kartini Hangs Ten
Female Surfers in Bali Celebrate Kartini Day by Wearing Sarong Kebayas
(4/23/2017)
Telling Bali You’re the Best
TripAdvisor Travels to Bali to Bestow ‘Best Destination’ Award on the Island
(4/22/2017)
Keeping a Closer Eye of Foreign Visitors
Denpasar Cracking Down on Foreigners Not Following the Immigration and Manpower Regulations
(4/21/2017)
All [News]!