Archipelago International Signs Letter of Intent with NWP Retail to Develop 14 New Hotels Across Indonesia

Stocks and Financial Services Press Releases Thursday April 26, 2018 10:06
JAKARTA, Indonesia--26 Apr--PRNewswire/InfoQuest

Archipelago International , a leading Indonesia-based hospitality management company today announced it has signed a letter of intent with NWP Retail to develop 14 hotel projects in prime locations across Indonesia under three of the company's signature brands: favehotel ,   Harper and Aston .

The planned developments will add over 1,800 rooms to Archipelagos hotel accommodation offerings.?After more than a decade of accelerated growth in Indonesia, Archipelago International expects to open more than 50 new hotels in the next few years and raise its inventory to more than 25,000 rooms, thanks to an increasing demand for budget and mid-market hotels. Demand is also growing for Archipelago's upscale 5-star luxury villa brand, Royal Kamuela , currently under development in Port Dickson, Malaysia.

According to John Flood , President and CEO of Archipelago International, "Domestic growth is particularly important to Archipelago International's expansion strategy due to the country's strong economic growth and expanding middle class and youthful population. With over 200 million domestic tourists in Indonesia each year, there are tremendous opportunities - not to mention further afield in Asia and beyond. Mixed use developments like NWP Retail build are really a great idea and offer customers a one stop experience with everything they need when visiting a destination. We are delighted to have been chosen by them to be part of their plans."

About Archipelago International

Archipelago International operates Indonesia's largest portfolio of over 135 hotels with a further 100 new properties under development across Indonesia, the Caribbean, the Philippines, Saudi Arabia and Malaysia. With more than 18,000 rooms and 9 brands in more than 55 cities, brands include Nomad Hostels, favehotel, Neo, Quest Hotel, Harper, Aston, Alana, Aston Heritage Collection, and Kamuela. Hotels range from ultra-luxurious villas to select-service hotels.

For more information please visit   www.archipelagointernational.com
About NWP Retail

Established in 2015, NWP Retail (PT. Nirvana Wastu Pratama) is a joint venture between PT. Nirvana Development Tbk. (NIRO) and Warburg Pincus aims to become the best-in-class retail platform in Indonesia. It focuses on developing hypermarket-anchored shopping malls across second and third-tier cities in Indonesia. NWP Retail is Indonesia's fastest growing lease retail developer. Its pioneering portfolio includes Cirebon's CSB Mall and various shopping malls under the Citimall brand.

For more information please visit   www.nwpretail.com
Photo - https://photos.prnasia.com/prnh/20180425/2114636-1
Logo - https://photos.prnasia.com/prnh/20180425/2114636-1LOGO

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