Indonesia Consolidates State-Owned Hotels Under InJourney, Creating Second-Largest Operator

Indonesia is consolidating its state-owned hotels under the InJourney group, a move that aims to create the second-largest hotel operator in the country. The integration is part of a broader transformation of state-owned enterprises in the hospitality sector.

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With a projection of 120 hotels, InJourney will become the second-largest hotel operator in Indonesia.

Dony Oskaria, Head of BP BUMN and COO of Danantara, announced that 45 hotels across various state-owned companies have signed a Conditional Sale and Purchase Agreement (CSPA). This agreement is a key step in consolidating hotel assets under the InJourney umbrella.

Oskaria projected that InJourney will manage 120 hotels, positioning it as a major player in Indonesia's hospitality market. He emphasized that the CSPA process ensures prudent consolidation and good governance. The transformation is expected to create a more efficient, competitive, and integrated tourism industry portfolio.

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The consolidation of all state-owned hotels under the InJourney umbrella is a big leap in rearranging and strengthening the value of our hospitality assets to be more competitive.

The consolidation is seen as a significant leap in restructuring and strengthening the value of hospitality assets, making them more competitive. Oskaria expressed confidence in maintaining positive momentum, with further hotel signings anticipated early the following week.

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The CSPA scheme ensures that the asset consolidation process runs prudently and prioritizes good governance.