One of the assets of the Yogyakarta Special Region (DIY) government,\nnamely the former Mutiara 2 Hotel, Malioboro, Yogyakarta City, has\nfinally found a new operator after undergoing an auction process for 4\nmonths. The local government and the new operator have recently signed a\ncooperation agreement for the use of the property.<\/p>\n
The Regional Secretary (Sekda) of DIY, Ni Made Dwipanti Indrayanti,\nexplained that the cooperation agreement signed by both parties is valid\nfor the next 30 years.<\/p>\n
\u201cThe agreement was signed yesterday (February 24th). It\u2019s not a\nlease, but rather a cooperation agreement for the hotel,\u201d Made said when\ncontacted on Wednesday (February 25th, 2026).<\/p>\n
\u201cThe contract is for 30 years, if I\u2019m not mistaken. This type of\nagreement does have a long term, especially since this is an old\nbuilding, and it requires innovation and creativity to revitalize it,\u201d\nshe added.<\/p>\n
Made explained that this long-term contract also aims to provide\nspace for the new operator to rehabilitate the building. The building\nhas been unused for a long time and requires time to be revitalized.<\/p>\n
However, Made said that the operator will still be limited in the\nbuilding renovation process. The location of the building in the\nPhilosophical Axis area is the reason. The operator must also obtain\napproval for any actions taken on the building.<\/p>\n
\u201cIt will take about a year for the rehabilitation, because there are\nquite a few things that need to be fixed. The name will probably be\nchanged, depending on the tenant,\u201d Made said.<\/p>\n
\u201cWe will still follow the guidelines agreed upon in the management\nplan, including not making too many changes to what already exists. If\nit\u2019s about beautifying or strengthening the structure, that might be\nokay,\u201d she continued.<\/p>\n
Made is still reluctant to disclose the identity of the operator in\nthis cooperation. In this agreement, in addition to annual fees, the DIY\ngovernment is also entitled to a share of the profits.<\/p>\n
\u201cThere are annual fees, and when there are profits, around 67% or so\nwill go to the local government,\u201d Made said.<\/p>\n
\u201cThe old furniture will not be used, and it does belong to the local\ngovernment, not the tenant, so it will be adjusted to the modernization\ninside,\u201d she concluded.<\/p>\n
Previously, the DIY government announced an open auction for a third\nparty to manage the former Mutiara 2 Hotel, which was announced twice in\nnational mass media, on Monday (October 13th, 2025) and Wednesday\n(October 15th, 2025).<\/p>\n
\u201cThose who are interested, the operators, can take the documents. It\nwas an open auction, we didn\u2019t target anyone, but let them compete with\ntheir offers,\u201d said the Head of the Financial and Asset Management\nAgency (BPKA) of DIY, Wiyos Santoso, on Tuesday (October 14th,\n2025).<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/former-mutiara-2-hotel-finally-sold-after-4-month-auction-who-will-manage-it-1772042183", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }