WIKA and WIKA Realty Commit to Consolidating State-Owned Hotel Portfolio Through Three Agreements with InJourney Hospitality
Jakarta (ANTARA) – PT Wijaya Karya Realty (WIKA Realty), PT Wijaya Karya (Persero) Tbk, PT Aviasi Pariwisata Indonesia (Persero), or InJourney, PT Hotel Indonesia Natour (HIN), also known as InJourney Hospitality, PT Hotel Indonesia Property (HIPRO), and PT Senggigi Pratama Internasional (SPI) attended and signed agreements at a ceremony titled “Signing of Agreements to Follow Up on the Initiative to Consolidate State-Owned Hotel Portfolio Management” on Tuesday (27 October) at InJourney’s office in Jakarta.
The event was attended by the boards of directors of all the entities involved. It was held as part of the companies’ efforts to support the aspirations of their shareholders, the State-Owned Enterprises Regulatory Agency (BP BUMN) and PT Danantara Asset Management (DAM), to accelerate the integration of Indonesia’s hotel and tourism ecosystem under InJourney Hospitality and make it globally competitive.
The signing covered three main items: the second amendment to the conditional share sale and purchase agreement for HIPRO between WIKA Realty, HIN and HIPRO; a conditional share sale and purchase agreement for SPI between WIKA Realty, HIN and SPI; and a conditional asset sale and purchase agreement covering nine KHAS hotels and the Kyriad Hotel between WIKA Realty and HIN. The transactions involve the sale of 49% of HIPRO’s shares, 99.90% of SPI’s shares and 10 hotel assets owned by WIKA Realty to InJourney Hospitality.
The agreements mark a concrete step towards integrating entities that have previously operated separately, bringing WIKA Realty’s hotels into the InJourney Hospitality ecosystem. The consolidation is intended to address market fragmentation and improve the operational efficiency of state-owned hotel networks.
WIKA President Director I Ketut Pasek Senjaya Putra said the conditional sale and purchase agreements formed part of a strategic move to refocus the business and strengthen its capital structure. “This strategic step supports the integration of the national tourism and hospitality ecosystem in line with the direction of BP BUMN and DAM. For WIKA and WIKA Realty, this is intended to ensure that assets and business portfolios are managed more optimally and productively, and deliver sustainable added value,” he said.
WIKA Realty President Director Fery Safaria said he hoped the cooperation and synergies developed with InJourney Hospitality would continue. “We hope this strategic partnership and strong synergy can be further strengthened, delivering a tangible positive impact and sustained added value for both parties,” he said.
Through the initiative, WIKA and WIKA Realty said they were committed to improving corporate performance by strengthening their financial fundamentals and focusing on developing a competitive core property business. The companies said they were optimistic that the strategic move would strengthen their position in delivering an excellent, innovative and sustainable property portfolio, while creating optimal value for stakeholders and contributing to the development of Indonesia’s property and tourism industries.