With its acquisitions of Dafam Hotel Management, ARTOTEL Group continues its quest to create a strong Indonesian hospitality ecosystem that can deliver high-quality hospitality experiences for both domestic and international customers.
JAKARTA, INDONESIA, December 7, 2021 — ARTOTEL Group, the country’s leading boutique hospitality and lifestyle group, is announcing that it has acquired Dafam Hotel Management. This means that all the 24 Dafam Hotels now are part of the ARTOTEL Group’s portfolio. The acquisitions are part of ARTOTEL Group’s mission to create a robust hospitality ecosystem where both domestic and foreign customers can make the most of high-quality hospitality experiences.
This marks ARTOTEL Group’s latest acquisitions the Group has made throughout the year, as part of its mission to establish Indonesia’s internationally-recognized hospitality empire. Since the beginning of the year, the Group has aggressively realized its mission, one of which is by acquiring the management of Kyriad Hotel Indonesia, a license holder of Kyriad Hotel Brand, one of the brands owned by France-based Louvre Hotels Group. The management manages 11 hotels spanning across Indonesia. Hence, as of the end of 2021, ARTOTEL Group has strengthened its position by altogether managing 50 hotels The number includes 15 hotels the Group itself has built and opened since it established its first hotel in 2012.
“ARTOTEL Group has made a move with these acquisitions during the global pandemic that has unfavorably impacted the hospitality industry’s performance across the world. We did not want to passively wait for the pandemic to end, so we took the initiative to acquire properties from Dafam Hotel Management and Kyriad Hotel Indonesia to further our dream of creating a unified hospitality ecosystem in Indonesia that can help hotels support one another in maintaining high standards of service as well as to broaden our market range, be it domestic and overseas,” said Erastus Radjimin, founder & CEO of ARTOTEL Group.
With the goal of building a unified hospitality ecosystem, as Radjimin asserted above, the feasibility of the acquisitions has been realized through the completion of an undisclosed Series B round financing by Indies Capital Partners, a leading Southeast Asian alternative asset manager. The proceeds of the funding will also be used to strengthen the group’s technology-based core business infrastructure. It’s part of the group’s long-term commitment to enhancing the standard of the hospitality industry in Indonesia.
The Group has also obtained Series B funding by Benson Capital, an angel investor focused on creative industries. Benson Capital has strong support, as the company aspires to the business model of ARTOTEL Group, from media coverage sources and lifestyle platforms. Prior to the rounding of Series B, ARTOTEL Group managed to get the investment injected from Series A by Intudo Ventures, an independent venture company.
To support the business roadmap in developing a robust hospitality ecosystem, the Group has also built a strategic alliance with Far East Hospitality (FEH), Singapore’s leading hospitality provider. Under the terms of this partnership, which was established in April earlier this year, the two parties have collaborated across operations, cross-branding exposure, and training to strengthen their respective businesses across markets. As a dynamic hospitality group, FEH operates a combined portfolio of more than 16,500 rooms under its management across 100 hotels and serviced residences in eight countries. This partnership allows ARTOTEL Group to work with FEH to scale up its presence at a more widespread regional level, not only in Southeast Asia but also in the Asia Pacific.
