JAKARTA - The revenue of PT Bukit Uluwatu Villa Tbk (BUVA), the manager of Alila Hotel, fell sharply in the first quarter of 2020 due to the COVID-19 pandemic. Lifestyle, recreation and entertainment segments did not contribute any revenue to the company.
According to the company's financial statements published on Friday (26/5), the company's revenue was recorded at Rp 44.51 billion, 63.39% lower than its record in Q1 2019 of Rp 121.599 billion. The company's revenue came from rooms (Rp 29.54 billion), F&B (Rp 10.22 billion), spa (Rp 2.13 billion), and others (Rp 2.60 billion).
Despite declining revenue, the company managed to reduce its losses, from Rp 44.91 billion to Rp 32.89 billion, due to better efficiency. (LK/AR)