The Central Bank of Indonesia (BI) cut the projection of Indonesia’s economic growth to the range of 4.2% to 4.6%, from previously 5.0% and 5.4% range. This is the second revision after the revision from 5.1% to 5.5%. [read more]

The COVID-19 coronavirus has hit the hotel industry hard with occupancy rates well down on the seasonal average across Indonesia. The overall occupancy rate had fallen below the regular low season average of 50% to 60% to 30% to 40% since the outbreak of the coronavirus in China in early January. Pr... [read more]

The decline in hotels and tourism resorts visits due to corona virus continues. One of the decline was recorded by PT Dafam Hotel Management, a subsidary of PT Dafam Property Tbk (DFAM) who recorded 15% decline. [read more]

FOX Hotels, part of TAUZIA Hotels, continues expansion by opening two new properties in Eastern Indonesia, comprising FOX Lite Jayapura and FOX Lite Royal Bay Makassar. Moreover, TAUZIA Hotels will also announce the launch of FOX Lite Cikarang dan FOX HARRIS Pangkalpinang Bangka. [read more]

PT Makmur Berkah Amanda Tbk. (AMAN) Revised its revenue target his year from Rp120 billion to Rp90 billion due to the sentiment from corona virus. This cut is in line with the effect of virus corona outbreak to its subsidiary, PT Makmur Berkah Amanda Hotel whose occupancy rate in the current month i... [read more]