DENPASAR, Indonesia, 13 May 2019: Bali will add 7,000 hotel rooms in the three and four-star category brushing aside any misgivings over volcano and earthquake threats according to the latest C9 Hotelworks and Horwath HTL research.
The report was released by the two research and consultancy agencies at the weekend focuses on Bali’s tourism, hotels and property developments.
Despite travel warnings most notably in China, Mount Agung’s continued explosive activities and Lombok’s earthquakes, Bali weathered the storm in 2018 although with slower growth after two years of double-digit expansion in international arrivals.
Within the next five years, Bali is expected to add approximately 7,000 rooms, with about 80% of the rooms being three and four-star, in line with the greater mass-market dynamic.
In a preview of the report, C9 Hotelworks said the hotel residence market remains flattened. With over 4,000 hotel branded residence units on the market for sale, developers have been pushed to offer a higher owner’s revenue share and the choice of high guaranteed return.
To read and download the report CLICK