Indonesia's Boom, Bust or Beyond

Monday morning in Jakarta and I'm speaking at the 2nd Annual Indonesia Real Estate Conference. The buzz on the country's property sector continues to be buoyant, though warning flags are up al over Asia on declining currency and an economic slowdown.
For those who think Thailand is being overdeveloped with new hotels, try this statistic from TopHotelProjects who have forecast that between 700 to 800 new properties are under planning or development in Indonesia. Currently per the National Bureau of Statistics there are just over 1,600 operating hotels in the country.
Glancing at the TopHotelProjects data it's interesting to note that ACCOR has the most critical mass of hotels rooms with over 10,000 followed by Archipelago (formerly Aston) who have eclipsed 6,000.
Global operators Starwood, Hyatt and IHG only come in at 5th, 8th and 9th places respectively. One surprise is that Swiss Bel-Hotels ranks forth with over double the room inventory of Hyatt and IHG.
As Asia looks forward with cautious optimism, there look to be cloudy skies on the hotel development horizon, as the current building phase would well be topping out.