JAKARTA - PT Eastparc Hotel Tbk (EAST) estimates that its occupancy rate will be under 50% in March 2020, much lower than the record from the same period in 2019 (82.69%). The decline was mainly caused by the impact of the outbreak of Covid-19.
As quoted from the company's disclosure on Wednesday (18/3), Khalid bin Omar Abdat, President Director of PT Eastparc Hotel Tbk (EAST) said that the occupancy rate will continue to decline if the outbreak continues. "The company estimates that occupancy rates for April and May 2020 may be below 25%, much lower than the record from April 2019 (82.48%) and May 2019 (55.07%)," he said.
In 2019, EAST generated Rp 33.67 billion in revenue from rooms, Rp 28.28 billion from food, and Rp 2.12 billion from other sources. (LK/AR)