The ARTOTEL group acquires Dafam Hotel Management to build a robust hotel ecosystem
These are the latest acquisitions of the ARTOTEL group that the group has made throughout the year, as part of its mission to establish the internationally renowned Indonesian hotel empire. Since the start of the year, the Group has aggressively carried out its mission, one of which is to acquire the management of Kyriad Hotel Indonesia, licensee of Kyriad Hotel Brand, one of the brands owned by the French group Louvre Hotels. The management manages 11 hotels spread across Indonesia. Thus, at the end of 2021, the ARTOTEL Group strengthened its position by managing a total of 50 hotels. The number includes 15 hotels that the Group itself has built and opened since the creation of its first hotel in 2012.
âThe ARTOTEL group took a step forward with these acquisitions during the global pandemic which had an unfavorable impact on the performance of the hotel industry around the world. We didn’t want to passively wait for the pandemic to end, so we took the initiative to acquire properties from the Dafam Hotel. Management and Kyriad Hotel Indonesia to pursue our dream of creating a unified hotel ecosystem in Indonesia that can help hotels support each other in maintaining high service standards as well as expand our market range, both national and international, âsaid Erastus Radjimin, founder and CEO of the ARTOTEL Group.
With the aim of creating a unified hotel ecosystem, as stated by Radjimin above, the feasibility of the acquisitions was achieved through the completion of an undisclosed Series B financing by Indies Capital Partners, one of the main Southeast Asian alternative asset managers. The proceeds from the financing will also be used to strengthen the group’s technological base infrastructure. This is part of the group’s long-term commitment to improving the standard of the hotel industry in Indonesia.
The Group also secured Series B funding from Benson Capital, an angel investor focused on the creative industries. Benson Capital enjoys strong support as the company aspires to the ARTOTEL group business model, from media coverage sources and lifestyle platforms. Prior to the rounding of series B, the ARTOTEL group succeeded in obtaining the injected investment of series A by Intudo Ventures, an independent venture capital firm.
To support the company’s roadmap in developing a robust hotel ecosystem, the Group has also forged a strategic alliance with Far East Hospitality (FEH), Singapore’s main hotel supplier. Under the terms of this partnership, which was established in April this year, the two sides have collaborated in operations, brand cross-exposure and training to strengthen their respective activities in all markets. As a dynamic hotel group, FEH operates a combined portfolio of more than 16,500 rooms under its leadership in 100 hotels and assisted living facilities in eight countries. This partnership allows the ARTOTEL Group to work with FEH to extend its presence at a broader regional level, not only in South-East Asia but also in Asia-Pacific.
Copyright Â© acrofan All rights reserved