OMNI Hotels Asia Pacific has signed a 10-year agreement to manage a new 380-room hotel in the Indonesian capital Jakarta.
Development of the property, named the Omni Batavia Hotel, is under way and it is expected to have a soft opening by mid-1995.
The hotel is being built by the Tamara Group, a Jakarta-based conglomerate of diversified companies whose core businesses include financial services, hospitality enterprises, property development and manufacturing.
Financing of the project will be undertaken by a syndicate of banks, with Tamara Bank as the arranger.
The property is located in the central business district of Glodok, noted for the strong Dutch influence in the architecture and decor of its colonial buildings.
The Indonesian Government has earmarked the district to be upgraded to become a key city tourist attraction.