VENTURE capital company Indies Capital Partners has officially acquired a 60% stake in PT Swiss-Belhotel International Indonesia and PT Zest Hotels International Indonesia from the Ciputra Group. The acquisition is a follow-up step for Indies Capital Partners to develop the hotel business after last year channeling B series funding for the ARTOTEL Group.

According to Managing Partners Indies Capital Pandu Sjahrir in a statement in Jakarta, Thursday (11/17), said Indies Capital launched Indies Hospitality Investments in 2021 due to the opportunity created by the pandemic to build the largest hotel management platform in Indonesia.

Pandu admits that he is very enthusiastic about the acquisition and hopes to provide the best for customers and stakeholders. “I am very excited for this new partnership. Working together with both operators, Swiss-Belhotel International and ARTOTEL Group, we are able to build a delightful group of operators for our customers and stakeholders,” said Pandu.

Swiss-Belhotel International Group provides serviced residences and property management services in Hong Kong, China, Indonesia, Malaysia, Philippines, Vietnam, Bahrain, Egypt, Kuwait, Oman, Qatar, United Arab Emirates, Australia, New Zealand, Switzerland and Thailand . The Group currently manages 125 properties in 16 countries under 16 brands.

“We believe in the long-term fundamentals of the Indonesian hospitality sector and want to leverage our experience to support the company,” said Indies Capital Managing Director Harold Ong.

The Indonesian tourism industry sector is getting better this year and still has great prospects in the future. After suffering a major blow due to the COVID-19 pandemic, in the period from January to September this year, 2.3 million foreign tourists visited Indonesia. A very significant increase when compared to the same period last year where only 86 thousand visitors were recorded.

Founded in 2009, Indies Capital Partners was one of the first private credit-focused managers to be established in Southeast Asia. Today, Indies Capital has grown to become the leading alternative asset manager in the top quartile in the region, with strategies ranging from private credit to private equity and assets under management of around US$800 million as of June 2022. [sources/photo special]