SOTS - PT. Satria Mega Kencana Tbk

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JAKARTA - PT Satria Mega Kencana Tbk (SOTS), the managing company of Sotis Hotel network, is optimistic that its year-end revenue will reach IDR 22.2 billion, or growing 15% year-on-year (yoy) from the realised revenue in 2022.

In the public expose quoted Monday (12/6), Floreta Tane, Director of Satria Mega Kencana, revealed that the revenue realisation until had reached IDR 8 billion until Q2 2023. “It has aligned with the company’s target set for Q2 2023,” she added.

In 2022, SOTS recorded revenue of IDR 19.39 billion, shifting up from IDR 12.38 billion seen in the same period in 2021. The gross profit also grew to IDR 12.77 billion from IDR 7.38 billion, resulting in current year’s loss of IDR 16.51 billion, improving from IDR 23.20 billion of loss recorded in 2021.

According to Tane, the revenue growth in 2022 resulted from the increased average room rates. Until Q2 2023, the average room rates soared 35% from 2022. “The average room occupancy in Q2 2023 was at 63.90%,” Tane added.

Furthermore, SOTS is confident that the hotel room occupancy will increase after the renovation and rehabilitation of hotel units are concluded this year. The company has allocated IDR 1.2 billion of capital expenditure to renovate the Sotis Falatehan’s Restaurant, and another IDR 1 billion to renovate Sotis Penjernihan. (LK/ZH)