COVID-19: Bumi Serpong Damai temporarily shuts two hotels due to low occupancy rates
JAKARTA - PT Bumi Serpong Damai Tbk (BSDE) has temporarily shut two hotels it operates as the coronavirus (COVID-19) pandemic's impact on the property sector worsens.
In a stock exchange filing published on Tuesday (7/4), BSDE Director Hermawan Wijaya said that the hotels were shut by PT Sinarwisata Lestari, a subsidiary of PT Duta Pertiwi Tbk (DUTI), itself a subsidiary of BSDE.
The two hotels, Hotel Le Grandeur Mangga Dua and Hotel Le Grandeur Balikpapan are temporarily closed effective from Tuesday (7/4) due to low occupancy rates in the last two years.
In addition, said Mr Wijaya, the move aims to curb the company's financial deficit as it struggles with the pressure resulting from the COVID-19 pandemic. (ARM/MS)