Ouch, This State-owned Hotel Lost 70 Percent During The COVID-19 Pandemic

JAKARTA - President Director of PT Hotel Indonesia Natour (Persero) or Inna Group Iswandi Said said that due to the COVID-19 pandemic, his company's revenue in the third quarter of 2020 fell sharply when compared to the same period in 2019.

Iswandi explained that the decline in revenue had occurred since the first quarter of this year. However, this condition continued until the third quarter of 2020. As a result, income fell by 70 percent.

As for the details, in the first quarter, revenue fell 37 percent compared to 2019. Meanwhile, in the second quarter, it fell 65 percent when compared to the same period last year.

"The third quarter slumped even more, 70 percent lower than the third quarter last year," he said in a virtual discussion, Thursday, September 24.

Iswandi said that the third quarter is usually the peak season for the hotel industry. However, the pandemic still not over yet made the hotel industry suffer losses.

At the beginning of the year, Iswandi admitted, the company had projected that PT HIN's performance could increase sharply in the future. However, this hope was dashed because of the outbreak of the COVID-19.

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"But unfortunately, early this year in February there was a COVID-19 disaster. So, it can be seen that the occupancy of PT HIN has dropped significantly compared to 2019," he said.

However, said Iswandi, in the third quarter of this year the occupancy of state-owned hotels has started to increase, although slightly. This is better than the second quarter of this year.

Iswadi explained, in the first quarter of this year the company's occupancy was only 38.9 percent, while last year's occupancy was 61.6 percent. Then, in the second quarter it could only reach 26.0 percent, down from last year's 66.1 percent.

"But in the third quarter there was a slight improvement. We were able to book 27.3 percent, while last year we were at 68.9 percent. This is the occupancy or occupancy rate of hotels in the first, second and third quarter periods," he explained.