Over the past five years, Indonesia has shown annual tourism growth of around 14%, with total numbers reaching 16 million arrivals for 2018. Around two thirds of those visitors head for Bali and Jakarta, which currently boast 550 and 350 ‘classified’ hotels, respectively. The rest of the country, including secondary destinations such as Yogyakarta, Bandung, Surabaya, Lombok and Batam, is likely to see increasing visitor numbers in the coming years, and the government is taking an active role in driving tourism.
One important plan which presents outstanding potential for hotel investors is the “10 New Bali” project, through which the government intends to develop ten currently underserved destinations to become attractions on a par with Bali. Among these, four have been prioritized for immediate action: Borobodur (Central Java), Mandalika (West Nusa Tenggara), Labuan Bajo (East Nusa Tenggara), and Lake Toba (Sumatra).
Another key project which will invite significant hotel expansion is the plan to shift the nation’s capital to East Kalimantan, on Borneo. Development is expected to begin next year and will take at least ten years.
At this exciting time in Indonesia’s tourism journey, the opening of the Indonesian office will allow NOVA to better deliver its award-winning expertise to hotel owners in the region who wish to make the best decisions in offering the right product in the right location and therefore achieve the highest level of profitability.
NOVA Asset Management is a regional hospitality consulting firm with offices in Bangkok, Jakarta & Singapore.
NOVA has earned the fastest growing hospitality firm award again this year, and has been recognized as a unique player in the region, delivering a full scope of Owner Representation services, from feasibility studies, hotel operator selection, to full development management on behalf of its clients and partners. This expertise can benefit all kinds of projects from small boutique hotels to ultra-luxury mixed-use development, such as the new AMAN Nai Lert Bangkok, Hotel and Residences recently announced.
It will be possible to learn more about NOVA Asset Management and the new Indonesian office at the upcoming HICAP Conference in Hong Kong on October 23-25.
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