JAKARTA. In an effort to diversify its business to hotel segment, PT Intikeramik Alamasri Industri Tbk (IKAI) will add 3-4 more hotels with an investment of Rp 500 billion. This was done following the acquisition of six hotels conducted in the last two years.
Head of Property Management at IKAI, I Gede Wahyu, explained that IKAI would focus on the three-star and four-star hotels. "But, that does not mean [we will not] getting on the upper segment. In Ubud Bali, IKAI plans to build Luxurios hotel, "he explained as quoted by Kontan.co.id, Wednesday (14/8).
The company is still looking for funding by looking for strategic partners.
According to Wahyu, his party might seriously pursue hotel business that can provide meeting, incentive, conference, and exhibition (MICE) facilities on a fairly large scale. Because MICE business is very potential, moreover the government will also concentrate on supporting MICE business growth.
Wahyu also explained that the hotel and ceramic business lines can complement each other.
IKAI is projecting revenues of Rp 69.5 billion this year and Rp 557.9 billion in 2023 if the new business is established successfully. Whereas without a change in main business activities, its revenue is projected to be Rp 131.5 billion in 2019 and Rp 125.8 billion in 2023. (AM/AR)