Hotel Fitra (FITT) to Sell Hotel Assets and Enter the Nickel Mining Services Industry
JAKARTA. PT Hotel Fitra International Tbk (FITT) is set to undergo a business transformation through the planned sale of its hotel assets in the Majalengka area, West Java, and a shift into the nickel mining services industry.
Based on information disclosure to the Indonesia Stock Exchange (BEI), FITT plans to sell 549,999 shares (99.99%) of its ownership in PT Bumi Majalengka Permai (BMP) to PT Berkarya Bersama Servindo (BSS). BMP manages and operates a hotel under the name Fitra Hotel Majalengka, located at Jl. KH Abdul Halim No. 88 Majalengka, West Java.
Additionally, FITT will sell 502,299 shares (99.96%) of its ownership in PT Fitra Amanah Wisata (FAW) to PT Pratama Global Servindo (PGS). Both share sale plans were signed by FITT on 19 May 2026. The sale price for BMP shares was set at Rp 21,899,114,000, whilst FAW shares were sold for Rp 46,014,553,000. Consequently, the total divestment value of the two companies reaches Rp 61,913,667,000.
FITT management explained that the planned divestment of all company shares in BMP and FAW was undertaken with consideration of the need to adjust the corporate group structure to align with future business development strategies. Furthermore, the divestment will increase the company’s focus on its main business activities in accordance with the plan to change its principal business activity to a holding company.
“The divestment is also carried out to optimise the allocation of company resources, both in terms of investment and management attention, so that they can be utilised more effectively and efficiently,” stated FITT Management in the information disclosure on Friday (19/6/2026).
In this regard, funds amounting to Rp 46,500,000,000 will be used by FITT to acquire a 50% stake in a nickel mining contractor services company named PT Venturi Tambang Perkasa (VTP) from PT Sheng Yue Hengli. Meanwhile, the remaining funds of Rp 21,437,667,000 will be used by FITT to pay off company debts in order to improve the capital structure and financial position of the company.
Thus, this divestment not only leads to FITT’s exit from the hospitality business but also marks the beginning of a change in FITT’s business direction towards the nickel mining sector. FITT confirmed that this transaction is neither an affiliated transaction nor does it contain any conflict of interest, given that the share buyers have no ownership, control, or family relationship with the management or controlling shareholders of the issuer.