Project Scope

Horwath HTL was engaged to provide redevelopment planning and a financial feasibility study for the conversion of an office building into a hotel on Jl Rasuna Said, a prominent commercial corridor in Central Jakarta. The project aimed to repurpose underutilised office space to meet the growing demand for hotel accommodation in the area, optimising the asset’s value and market relevance.

The engagement began with a thorough market analysis, assessing the current and projected demand for hotels in Central Jakarta. This included evaluating business travel trends, the growth of domestic and international tourism, and the potential impact of the property’s location within the city’s dynamic commercial hub. Competitor benchmarking provided insights into pricing strategies, target markets, and service offerings for the converted hotel.

In the redevelopment planning phase, Horwath HTL evaluated the building’s existing structure to determine its suitability for conversion. Recommendations were made regarding design adaptations, room configurations, and the integration of hotel facilities such as dining, meeting spaces, and wellness areas. The planning process focused on creating an efficient layout that balanced operational needs with guest comfort, ensuring the property’s competitive positioning in the market.

The financial feasibility study included detailed revenue projections, cost analysis, and return-on-investment calculations. Scenarios were developed to assess the project’s financial performance under different market conditions, accounting for factors such as renovation costs, operational expenses, and anticipated average daily rates (ADR) and occupancy levels.

Horwath HTL’s strategic guidance enabled the client to make informed decisions about the office-to-hotel conversion, providing a roadmap for repositioning the asset to meet market demand and maximise long-term profitability. The project highlighted the potential for adaptive reuse of commercial properties in Jakarta’s evolving real estate landscape, aligning with trends toward sustainable and flexible urban development.

מיקום הפרויקט

Jakarta, Indonesia