Indonesian Commercial Newsletter, May 10th, 1993
The Yogyakarta office of the Investment Coordinating Board and other concerned offices have recently made a decision to close Yogyakarta and its surrounding area for new investments in star-rated hotels. This decision has been made in a bid to prevent the competition among hotel owners from growing unsound in the future. However, certain areas in the vicinity of Yogyakarta e.g. the beach area to the south of Yogyakarta are still open to new investments in hotelry.
The investor interest in establishing hotels in Yogyakarta is still high. However, many of the hotelry projects which have been ...
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