The Ritz-Carlton Hotel Company has selected Bali as the next location of a Ritz-Carlton Reserve.
The resort is set to open in Ubud in 2015, joining a Reserve collection that includes Phulay Bay, Thailand and Dorado Beach in Puerto Rico.
News of another luxury Bali development comes at a time when an oversupply of rooms on the island is holding back room rate increases.
Purwa Sidemen, executive director of the Bali chapter of the Indonesian Hotels and Restaurants Association (PHRI), said the increase in hotel rooms in Bali had far exceeded the number of tourists.
"Based on statistics we receive every month, the occupancy rate of hotels in Bali is around 62-63% on average," he told Bail Daily.
Ngurah Wijaya, chairman of Bali’s Indonesian Tourism Industry Association, said many hotels had been forced to reduce their room rates due to the imbalance between supply of hotel rooms and arriving tourists.
"The supply keeps increasing, while the growth in tourist numbers is slowing," he said
