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ublicly listed hotel and resort development company Bukit Uluwatu Villa has set an optimistic double-digit revenue growth target this year after observing a gloomy performance in 2015 in the face of a series of natural disasters that led to many hotel booking cancellations.

Bukit Uluwatu, which manages a number of high-end resorts, including Alila Ubud and Alila Villas Uluwatu in Bali, projects to see its revenue increase by 38.1 percent this year to Rp 275 billion (US$20.9 million), from Rp 199 billion in 2015 through multiple expansion projects.

The firm, for example, plans to expand Alila Villas Uluwatu, a popular wedding venue on the resort island, by constructing a new wedding hall that will accommodate 1,000 guests.

“We hosted 180 wedding receptions last year and expect to cater to more customers after the opening of the new wedding hall in August,” finance director Hendry Utomo said Wednesday.

Furthermore, as part of its strategy to reach the sales target, the firm is constructing seven new villas at Alila Ubud. These villas will welcome guests in December 2016.

Another new establishment in the pipeline is Alila SCBD in Jakarta. The five-star hotel, expected to start operating by the end of the year, will have 238 rooms and a number of fine dining venues. The company has invested Rp 575 to Rp 600 billion for this project.

The expansion projects are part of Bukit Uluwatu’s strategy to offset its bleak financial performance last year. According to its financial statement, the firm’s revenues declined 22.4 percent to Rp 199 billion in 2015, from Rp 256.5 billion in the previous year. As a result, the firm’s net loss increased by 29.6 percent to Rp 39 billion, from Rp 30 billion in the previous year.

BUVA attributed the revenue slump to volcanic eruptions last year at Mount Raung in Banyuwangi, East Java, and Mt. Rinjani in Lombok, West Nusa Tenggara, causing tourists to postpone their visits to Bali, the country’ most popular tourist destination.

The company has exhibited improved performance since the first quarter, as noted in its revenue increase of 69.8 percent year-on-year (yoy) to Rp 60.8 billion, from Rp 35.8 billion. It, however, still suffered a net loss of Rp 19 billion in the first quarter, up 52 percent yoy from Rp 12.5 billion in the corresponding period last year.

Hendry said the company also planned to open next year a new boutique hotel called The Cliff, located besides Alila Villas Uluwatu and currently under construction,

In addition, Alila Villas Bintan, the company’s another ongoing project in Riau Islands, is also expected to be completed by the second semester of 2017. The investment value for the project, which stands on a 14-hectare plot of land, will need Rp 400 billion.

“Each one-bedroom pool villa in the project will be offered for sale at around Rp 10 billion,” said director Winarti Indrajaya. (win)