Ancol gets boost from year-end holidays

The Jakarta Post,  Jakarta  |  Mon, 01/05/2009 11:05 AM  

Publicly listed PT Pembangunan Jaya Ancol (Ancol), the country's largest amusement park operator, cashed in hefty earnings during the Christmas and year-end holidays, boosting its full-year revenue by 14.7 percent. 

PJA president director Budi Karya Sumadi told The Jakarta Post recently the company's revenue last year was likely to reach Rp 875 billion (US$77.4 million) as against Rp 763 billion in 2007. 

"We have cashed in around Rp 60 billion alone from visitors during the Dec. 18 to 31 period," he said. 

"We estimate that we pulled in net profits of at least Rp 130 billion to Rp 135 billion last year," he said. 

In 2007, the company generated Rp 140.8 billion in net profit. 

The Ancol leisure complex, also known as Taman Impian Jaya Ancol, was opened in 1966, and has since remained the largest integrated tourism area in Southeast Asia 

Last year, the tourism facilities contributed more than 60 percent to the revenue of the company, which also runs a property development business. 

During the first nine months of 2008, the Ancol complex recorded 8.5 million visitors and was targeting to attract 13.5 million by the end of the year, which would have represented 10 percent growth from a year earlier. 

He forecast the number of Ancol visitors would increase by between 10 and 15 percent this year. 

According to Budi, Ancol has always benefited from the holiday season as leisure-hungry citizens flock to recreational sites. 

During the Idul Fitri holiday last October, for example, Jaya Ancol generated more than Rp 40 billion in revenue in less than a week. 

Last year, around 95 percent of Ancol visitors were locals, while only the remaining 5 percent were foreign tourists from Malaysia, Singapore and the Middle East. 

According to Budi, Ancol is now continuing to expand its business in merchandise sales and culinary outlets to boost sales growth. 

Ancol is 72 percent owned by the Jakarta administration, with the remaining 18 percent owned by PT Pembangunan Jaya and 10 percent by the public. (hwa)