IHG Announces First Hotel and Residences Development in Jakarta

IHG (InterContinental Hotels Group) [LON: IHG, NYSE:IHG (ADRs)], the world’s largest hotel group by number of rooms, has announced the signing of InterContinental Jakarta Pondok Indah Hotel & Residences, in partnership with PT Pondok Indah Hotel, a subsidiary of public listed PT Metropolitan Kentjana Tbk.

Scheduled to open in 2015, the 480-key property will be IHG’s inaugural mixed-use development in Indonesia and will join a list of prestigious hotel and residence properties that the group has across the region, including InterContinental Asiana Saigon, InterContinental Dubai Festival City, InterContinental Doha The City, and the upcoming InterContinental Osaka in 2013.[member]

Currently under construction, the InterContinental Jakarta Pondok Indah Hotel & Residences comprises approximately 300 hotel rooms and 180 serviced residences. Centrally located in the affluent Pondok Indah district of South Jakarta, which also adjoins the Pondok Indah Mall 2, the property will have convenient access to up-market shopping malls, growing commercial office towers, international schools, hospitals, a waterpark and world-class championship golf facilities. The neighbouring area will also welcome a convention and exhibition centre in the future.

Commented Husin Widjajakusuma, President Director of the PT Metropolitan Kentjana Tbk, “We are thrilled to work with IHG to introduce its maiden hotel and residences project in Indonesia.  Located in one of the most sought after addresses in the city where there is a strong pent up demand for upscale accommodation, we are positive that InterContinental Jakarta Pondok Indah Hotel & Residences will cater to this growing segment and stimulate the hospitality industry in the country.”

“The signing of InterContinental Jakarta Pondok Indah Hotel & Residences is a perfect addition to our growing portfolio and will drive forward our expansion in this key growth market.” said Jan Smits, Chief Executive Office, IHG Asia, Middle East and Africa.  “With the country’s exponential growth and infrastructure development, we see considerable potential for our hotel group and are delighted to partner with leading property developer PT Metropolitan Kentjana Tbk in bringing yet another deluxe accommodation to the region.”

The brand will also see a second InterContinental open in Bali in the same year with the InterContinental Bali Canggu Resort. [/member]

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