JAKARTA, INDONESIA— Approximately, 34 hotel projects in Greater Jakarta with a total of 11,304 rooms have been cancelled or postponed due to the economic slowdown, according to HVS International. Meanwhile, hotel occupancy rates here are expected to pick up next year with the anticipated economic recovery. However, five-star hotels will remain under pressure as tourists seek cheaper alternatives, according to a Colliers-Jardine report. SOURCE: HVS International
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