WIKA Divests Hotel Indonesia Stake, Here's Why

Jakarta — State-owned enterprise BUMN PT Wijaya Karya (Persero) Tbk (WIKA) has announced that its business entity PT Wijaya Karya Realty will divest its shareholding in PT Hotel Indonesia Group (HIG) to PT Hotel Indonesia Natour, comprising 1,470 shares or 49 per cent. The share sale is valued at Rp 7.8 billion.

According to disclosure information to the Indonesia Stock Exchange (BEI), both parties executed a conditional share transfer agreement on 26 February 2026.

Under POJK 42/2020 regulations, the transaction constitutes an affiliate transaction due to the existing share ownership relationship between WIKA Realty and Hotel Indonesia Natour, with the Government of the Republic of Indonesia as the indirect shareholder of both WIKA Realty and Hotel Indonesia Natour.

“Thus, there exists a share ownership relationship between WIKA Realty and Hotel Indonesia Natour,” stated the management on Monday (9 March 2026).

Management noted that the transaction series forms part of efforts to accelerate Indonesia’s tourism and hospitality industry. The Ministry of State-Owned Enterprises (BUMN) has designated Hotel Indonesia Natour as the executor for integrating and enhancing state-owned hotel businesses.

This was communicated through the State-Owned Enterprises Minister’s Letter No. S-496/MBU/10/2024 dated 11 October 2024 concerning shareholder aspirations regarding the integration and value enhancement of state-owned hotels.

The rationale for the divestment is to improve WIKA Realty’s financial performance. The corporate action is expected to drive increases in profit, liquidity, and solvency of WIKA Realty, thereby creating added value for the corporation whilst supporting the acceleration programme for Indonesia’s tourism and hospitality industry, positioning WIKA as a continually developing state-owned enterprise with a positive reputation.