JAKARTA - PT Kota Satu Properti Tbk (SATU), operator of the Allstay Hotel in Semarang, set a revenue target at Rp 70 billion for 2020, following the completion of Trans Java toll road and the government's focus to boost the tourism sector.
As quoted from the company's public expose sheet, the company expects to obtain Rp 49 billion in revenue from its property business and Rp 21 billion from its hotel business. With that kind of revenue, the company will be able to generate Rp 8 billion in net profit.
As of Q3 2019, SATU has generated Rp 26.84 billion in revenue and Rp 10.48 billion in gross profit. However, the company's high administrative and general expenses (Rp 13.28 billion) caused it to lose Rp 7.63 billion. (LK/AR)