Friday, July 15, 2011

Research and Markets: Indonesia Tourism Report Q3 2011

Research and Markets has announced the addition of the "Indonesia Tourism Report Q3 2011" report to their offering.

The Indonesia Tourism Report provides industry professionals and strategists, corporate analysts, tourism associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Indonesia's tourism industry.

Core Forecasts Tourist arrivals for the first four months of 2011 have shown strong growth, in line with BMI's forecasts. Total arrivals for the January-April period stand at 2,323,039, up 7.2% year-on-year (y-o-y) according to figures from the Central Statistics Agency (BPS). For 2011, therefore, BMI maintain their target of 9% growth in tourist arrival numbers, taking total tourist arrivals for the year to the 7.63mn mark. This target is in line with the government's own aims to attract between 7.3mn and 7.7mn tourists to Indonesia throughout the year. After two strong years of growth in 2010 and 2011, the core forecast is then for Indonesia to consolidate recent gains with a more measured rate of tourist arrival growth, to reach a total of 8.72mn tourists by end-2015.

Tourist arrivals for 2010 were in line with BMI's forecasts, with Indonesia welcoming just over 7mn tourists over the year, representing an increase of 9.76% y-o-y. This strength in visitor arrival numbers underlines continued bullish stance towards Indonesian tourism for 2011 and beyond. Hotel occupancy rates also rose slightly, to an average of 50.6% for the year as a whole, according to information from the country's Central Statistics Agency (BPS). Tourist expenditure for 2010 stood at an estimated US$7.6bn, which represents an annual increase of 20.7%.

Fellow low-cost carrier Air Asia Indonesia (AAI) has also said that it still plans to sell a 20% stake later in 2011. Company CEO Dharmadi says that the airline still plans to raise US$150-200mn via an IPO on the JKSE during the fourth quarter. The proceeds of the IPO will be used to buy new planes and fund growth, according to the company. AAI has a stated aim of increasing its fleet size to 30 (from 20) by 2015. Like Lion Air, AAI is arguably in better financial shape than Garuda, with the low-cost airline posting a 37% increase in revenues during 2010, to IDR2.76trn, with net profit up by 350% at IDR474bn.

Bullish Outlook For Hotel Industry For 2011-12, there are an expected 13 new hotel openings scheduled for Jakarta, according to the local hotel and restaurant industry association (PHRI), with a further six to be built in Surabaya. The PHRI has also stated that local players Santika and Sahid are to build some 40 new hotels across the archipelago over the coming two years, with the industry witnessing strong interest from foreign investors.

In this context, there is currently a great deal of construction activity in the high-end hotel sector on the island of Bali, which is due to host the 2013 APEC summit. To prepare for the arrival of high-ranking dignitaries to the island, there are several new high-end hotels scheduled for opening in 2011, including Starwood Hotels' W Retreat & Spa Bali at Seminyak and Pullman Hotels' Bali Legian Nirwana, which have both now opened. Other high-end hotel chains set to open new properties in Bali over the 2011-13 period include Banyan Tree, InterContinental Hotels Group (IHG), Ritz Carlton and Kempinski.

Rounding out the optimism surrounding the Indonesian hospitality sector at present, in May 2011 luxury hotel chain Fairmont Hotels & Resorts announced plans to open the 380-room Fairmont Jakarta in 2014.

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