Danantara Officially Consolidates All State-Owned Hotels Under InJourney

Jakarta - The Daya Anagata Nusantara Investment Management Agency (BPI Danantara) has officially consolidated all state-owned enterprise (BUMN) hotels, which will now be operated under InJourney, as part of a BUMN transformation initiative. “The unification of all BUMN hotels under the InJourney umbrella is a major leap in reorganising and strengthening the value of our hospitality assets to make them more competitive,” said Head of BP BUMN and Danantara COO Dony Oskaria in a statement confirmed on Friday. A total of 45 hotels spread across several BUMNs signed a Conditional Sale and Purchase Agreement (CSPA) on Friday as part of the asset consolidation under InJourney. Dony explained that the CSPA signing by these 45 hotels is part of the BUMN transformation in the hospitality sector. He added that the CSPA scheme ensures the asset consolidation process proceeds carefully and prioritises good governance. “We will maintain this positive momentum, and we project additional signings from several other hotels early next week. This is a concrete step towards optimising asset value and building a more resilient management structure,” Dony stated. He projected that 120 BUMN hotels will be merged to be managed by InJourney. With this, Dony said InJourney will become the second-largest hotel operator in Indonesia. “With the consolidation of all BUMN hotels, a solid foundation is formed for value creation. This transformation will ultimately create a more efficient, competitive, and integrated tourism industry portfolio,” Dony said. Previously, Dony revealed plans to seek strategic investor partners in the hospitality sector after completing the consolidation of at least 100 state-owned hotels. He further stated that all these assets are being consolidated into PT Hotel Indonesia Natour, or InJourney Hospitality. Once the consolidation is complete, Dony said Danantara is ready to open strategic partnerships for investors through various cooperation schemes.