Jakarta (ANTARA) \u2013 PT Wijaya Karya Realty (WIKA Realty), PT Wijaya\nKarya (Persero) Tbk, PT Aviasi Pariwisata Indonesia (Persero), or\nInJourney, PT Hotel Indonesia Natour (HIN), also known as InJourney\nHospitality, PT Hotel Indonesia Property (HIPRO), and PT Senggigi\nPratama Internasional (SPI) attended and signed agreements at a ceremony\ntitled \u201cSigning of Agreements to Follow Up on the Initiative to\nConsolidate State-Owned Hotel Portfolio Management\u201d on Tuesday (27\nOctober) at InJourney\u2019s office in Jakarta.<\/p>\n
The event was attended by the boards of directors of all the entities\ninvolved. It was held as part of the companies\u2019 efforts to support the\naspirations of their shareholders, the State-Owned Enterprises\nRegulatory Agency (BP BUMN) and PT Danantara Asset Management (DAM), to\naccelerate the integration of Indonesia\u2019s hotel and tourism ecosystem\nunder InJourney Hospitality and make it globally competitive.<\/p>\n
The signing covered three main items: the second amendment to the\nconditional share sale and purchase agreement for HIPRO between WIKA\nRealty, HIN and HIPRO; a conditional share sale and purchase agreement\nfor SPI between WIKA Realty, HIN and SPI; and a conditional asset sale\nand purchase agreement covering nine KHAS hotels and the Kyriad Hotel\nbetween WIKA Realty and HIN. The transactions involve the sale of 49% of\nHIPRO\u2019s shares, 99.90% of SPI\u2019s shares and 10 hotel assets owned by WIKA\nRealty to InJourney Hospitality.<\/p>\n
The agreements mark a concrete step towards integrating entities that\nhave previously operated separately, bringing WIKA Realty\u2019s hotels into\nthe InJourney Hospitality ecosystem. The consolidation is intended to\naddress market fragmentation and improve the operational efficiency of\nstate-owned hotel networks.<\/p>\n
WIKA President Director I Ketut Pasek Senjaya Putra said the\nconditional sale and purchase agreements formed part of a strategic move\nto refocus the business and strengthen its capital structure. \u201cThis\nstrategic step supports the integration of the national tourism and\nhospitality ecosystem in line with the direction of BP BUMN and DAM. For\nWIKA and WIKA Realty, this is intended to ensure that assets and\nbusiness portfolios are managed more optimally and productively, and\ndeliver sustainable added value,\u201d he said.<\/p>\n
WIKA Realty President Director Fery Safaria said he hoped the\ncooperation and synergies developed with InJourney Hospitality would\ncontinue. \u201cWe hope this strategic partnership and strong synergy can be\nfurther strengthened, delivering a tangible positive impact and\nsustained added value for both parties,\u201d he said.<\/p>\n
Through the initiative, WIKA and WIKA Realty said they were committed\nto improving corporate performance by strengthening their financial\nfundamentals and focusing on developing a competitive core property\nbusiness. The companies said they were optimistic that the strategic\nmove would strengthen their position in delivering an excellent,\ninnovative and sustainable property portfolio, while creating optimal\nvalue for stakeholders and contributing to the development of\nIndonesia\u2019s property and tourism industries.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/wika-and-wika-realty-commit-to-consolidating-state-owned-hotel-portfolio-through-three-agreements-with-1793195598", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }