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Appetite for international travel rebounds strongly in 2023: Scott Dunn

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Scott Dunn’s recent annual year-end guest survey shows that the appetite for international travel has returned among luxury and ultra-high net worth travelers in Asia, although a sizeable proportion remain somewhat reticent.

While 46% say they can’t wait to get on a plane and travel abroad, 31% prefer to take a more measured approach to travel and remain wary of potential travel disruptions in the New Year. Additionally, 19% also want to get out but not too far from home, reflecting a more measured approach.

Luxury travelers want to experience culture, food and drink, local life and people

Many travelers are also fed up with the travel restrictions imposed by the pandemic and are looking forward to their long-awaited freedom to travel. All respondents (100%) said they will take at least one trip in the next year, an 87% increase from 2022 – 71% would like to take at least two trips in the next year, while 22% would like to travel four or more times in 2023.

An emerging trend among luxury guests overseen by Scott Dunn is slow travel – the highest preference among guests would be to spend a week or two in a single destination, underscoring their penchant for fully exploring and discovering a place.

The top three things that luxury travel segment guests look for on vacation are cultural experiences, food and drink, and experiencing local life and people. This reflects a desire to truly connect with and discover the destinations they visit, rather than visiting as a more traditional and disconnected tourist.

Discovering a new travel destination ranked first as a reason to travel in 2023, followed by ticking off bucket lists at second and rediscovering favorite places at third. In contrast, last year ticking off wish-list destinations came only fifth behind rediscovering favorite places, meaning more luxury travelers are genuinely trying to step out of their comfort zone and visit new, unexplored places.

4,000 guests from Asia took part in the survey.

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Agents head back to Japan with JNTO – Travel Weekly

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To celebrate the reopening of Japan’s borders in October, JNTO has kidnapped agents to get a first-hand look at the incredible destination.

In collaboration with Linkd Tourism to create the perfect itineraries, JNTO hosted five different fam trips through Kyushu, Hokuriku, Hokkaido, Tokyo and Kansai in November.

Last week, Sally Miles, Business Development Manager at JNTO, hosted seven luxury agents for a six-day all-inclusive luxury family in Tokyo, Ise Shima, Kobe, Osaka, Sakai and Koyasan.

Sekisho-in Temple on the last night of the family

The group flew Japan Airlines to Haneda and began the itinerary with two nights at The Okura Tokyo, staying in the property’s 6-star Heritage Wing. To ensure a variety of options for each client, accommodation during the trip included a range of hotels, as well as a unique temple stay.

Showcasing the breadth of cuisine available in Japan, meals ranged from traditional Japanese “kaiseki” tasting paired with sake to exquisite Michelin-starred French cuisine, as well as a touch of Osaka soul food with a “ Okonomiyaki and Yakisoba Cooking Class.

Of course, a visit to Kobe wouldn’t be complete without seeing the famously melt-in-the-mouth Kobe beef prepared right in front of you.

Agents experience the famous Kobe beef first hand

The agents witnessed traditional crafts and customs such as Edo Kiriko glass cutting, pearl harvesting, knife sharpening and a tea ceremony.

When asked about the most memorable highlights of the trip, opinions largely split between teamLab Planets, a museum for multi-sensory digital art in Tokyo, and the temple stay in Koyasan, where agents dressed in traditional monk’s robes for their vegan dinner “Shojin Ryori” beforehand Embark on a night tour of the Okunoin Cemetery.

From ancient traditions to modern innovations, the Fam trips dazzled the agents and inspired everyone to return to Japan.


Featured Image: Group shot after the Bonito Flake Experience looking towards Ise Shima

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Is India A Perfect Destination For Digital Nomads, The Laws Explained

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Introduction

Unknown to many, but soon to become common knowledge, the propensity of being a digital nomad has recently been drawn to India—the land of colors, spicy cuisine, nomadic lifestyle, magnificent traditions, bright culture, and lively traditions. India may not come to mind when considering living abroad as a digital nomad. But living as a digital nomad in India can be one of the most exciting journeys you ever take!

India is an ideal destination for digital nomads due to its culture and natural beauty, low cost of living, lack of a language barrier, ease of travel, openness to foreign visitors, etc. For many digital nomads, India is a mythical place filled with business people and tech companies, a nomadic paradise. However, in order to get there, we need to be aware of a few aspects of the way of life in the area. So, if you’re a digital nomad or wanna be digital nomad, and curious to know the way out there to travel in India, then this extensive travel guide is for you

Also Read: https://nomadlawyer.org/digital-nomad-a-new-normal-and-a-legal-perspective/

People who are location-independent and use technology to carry out their jobs while leading itinerant lifestyles are known as digital nomads. As opposed to physically being present at a company’s headquarters or office, digital nomads telecommute and operate remotely. As they are not confined to one place, digital nomads can work from coffee shops, beaches, or hotel rooms. For the first time, some remote workers became digital nomads as a result of the 2020 economic crisis and lockdown, choosing to work in other states or nations if they could get access to them. The number of digital nomads is thought to have increased by up to 50% post pandemic. 

Why is India an Ideal Destination for Digital Nomads?

  • Vibrant Culture and Natural Beauty 

India prides itself on having one of the most vibrant economies in the world. India is home to a wide variety of landscapes, including a desert in the west, enormous mountains in the north, beaches in the south, and lush woods in the east. Like no other country, India also boasts a rich cultural heritage. India most likely has something to sate your soul, no matter what form of travel thrills you.

Additionally, there are numerous cuisines in India that you can sample, with each region having its own distinct cuisine. Although the nation is recognized for its use of spices in its cuisine, each state has its own unique cuisine that will wow your senses!

Being a digital nomad is all about having the freedom to travel whenever you choose, without being constrained by a strict work schedule. India’s extensive and very economical transportation system greatly facilitates your trip arrangements. Every area in India is connected by some type of public transportation, whether it be taking a low-cost flight or even just traveling locally in buses, trains, and shared taxis.

India is just as affordable as the majority of Southeast Asian nations. Compared to living as a digital nomad in the US, UK, Canada, or Europe, it is unquestionably less expensive. A person can easily live quite nicely on a monthly budget of $1000. In reality, one may live on much less if they are diligent. Your life would be made simple and your stay in India will be enhanced by the availability of food and essentials like electricity, water, and housekeeping at extremely affordable prices. Since most internet connections are reliable, you may work without difficulty from most locations.

Also Read: https://nomadlawyer.org/bali-is-offering-a-five-year-visa-for-digital-nomads/

Fundamentals of staying in India as a Digital Nomad

Although India is a dynamic country and you may already be in love with Indian culture, if you want to work there in a quiet environment, you should concentrate on finding a suitable hotel or coworking space rather than using any coffee shop. India is a nation that welcomes digital nomads from all over the world, despite the chaotic background. However, before you unintentionally get into difficulty, it’s critical to be aware of some cultural distinctions. 

  • When visiting a temple or a mosque as a visitor, you must act like a native by taking off your shoes and covering any parts of your body that are “too exposing.” This can entail staying away from skirts, top tanks, and other potentially irritating attire.
  • Try not to be so amorous in public if you are traveling with your special someone or if you meet one there. Although it is not strictly illegal, public opinion is not favorable when affection is displayed.
  • Don’t forget to remove your shoes when you are invited into someone’s home. Leave your shoes at the door because feet are regarded as “unclean” because they are constantly in contact with the ground.

Since most people in India understand English, conversing will not be a problem despite the fact that this is a very different culture, which is something that many digital nomads truly love about India to travel.

There is simply too much to see in India to visit for just one week, therefore we strongly advise you to extend your trip.

Also Read: https://nomadlawyer.org/best-10-caribbean-islands-for-digital-nomads/

Travel Entry Necessities 

Contrary to popular belief, traveling to India is not at all challenging. There are more than ten different sorts of Visas, and they all have simple eligibility conditions. Of course, the tourist visa is the one that is most frequently requested. You must have your visa application, a passport with at least two blank pages, and a valid passport (valid for at least six months).

You can request this application via the government’s website. Basically, you’ll need to sign in to the internet, complete the application (which is shown in the picture), and pay the appropriate visa price. Depending on the kind of visa you’re applying for, these costs can be very different. Tourists from the US, for instance, will need to spend about $160 for each visa, while British nationals will need to pay about $830. The cost is significantly lower for people of various nationalities, especially those who live close to India, ranging from $30 to $50.

Extending your stay will be possible and quite simple because a return ticket isn’t always required and the majority of visas are valid for 5 to 10 years. A straightforward health certification enables you to bring up to two pets on your trip. Remember that upon your arrival, you can be asked to undergo another health check.

The processing of your application for a visa takes a minimum of three working days, however making a payment does not ensure that you will be given a visa; rather, it just ensures that your case will be examined. However, India is a friendly nation, and tourist visas are typically granted.

You must go to the Foreign Regional Registration Office (FRRO) during the first 14 days of your arrival if you want to stay in India for longer than 100 days. This office is in charge of managing all residency permits, visa extensions, and certifications while also regulating legal immigration into the nation.

When and Where to Travel in India?

The tourism seasons in India operate similarly to those in other nations, with the exception that weather is a major factor in choosing when to visit. To avoid the monsoon, it is advised to travel to India between October and March. The good news is that because travelers are aware of this and prefer not to travel during the rainy season, hotels, Airbnbs, and hostels are less expensive than you may think during the monsoon season.

Fortunately for us digital nomads, the ideal time to visit India coincides with a number of the festivals that contribute to the country’s allure. Generally speaking, October through March are the greatest times to visit India, especially if you visit Rajasthan (regarded as the country’s most colorful city), Kolkata, Mumbai, or Goa.

If you just have time in September, though, you may either travel to Kerala, where it is warm most of the year and it rains from June to August, or you can visit the Himalayas, where you can take in the alpine foothills from February to May.

Bangalore, Goa, Rishikesh, Kufri and Fagu, Shillong and few states of North-East India is considered as the most ideal place to travel for a digital nomad. 

Indian Festivals to Experience  

India is a land of festivals where thousands of festivals are celebrated irrespective of beliefs with brotherhood. You simply cannot travel to India on a business trip and skip the festivals. Since every city is filled with colors, people, and flowers, it is also quite difficult to forget about them. To name a few most preferred and popular festivals in Indian origin:

The Holi Festival is one of the most well-liked celebrations, particularly among travelers. It is a ceremony that brings back the annihilation of Holika, an Indian demon. Lord Vishnu’s devotion causes this monster to be destroyed, and as you travel through the streets, you throw colored powder—which is similar to cornstarch—to others before using water pistols to squirt water over everyone there.

The second-largest celebration in India (Maharashtra) is called Ganesh Chaturthi, which honors the birth of Ganesha and is marked by the elephant-headed god images that are lavishly decked with flowers on every single house, hotel, and structure in the country. There will be food, music, and dancing on every street corner across India for the duration of the celebration, which lasts 11 days. This festival is celebrated everywhere in India, but we recommend you to witness it in Mumbai. 

Then comes the Diwali festival of Deep. Due to the fact that the majority of the festivities of this festival take place at night and involve hundreds of pyrotechnics, lamps, candles, and other types of light fires as well as people dancing with torches on their heads, it is also known as The Festival of Lights.

You must see for yourself how lovely the entire Indian festival scene is because words cannot do it justice. Even if you are not spiritual, the energy that the entire nation exudes is indescribable.

Technology and Internet Availability 

As a digital nomad, you must be able to work from anywhere, thus the issue of technology, WIFI-Internet connection, and accessibility is crucial. When working from home, Wi-Fi connectivity is neither quick nor optimal because the network is not quite stable and you will only have restricted access to home broadband. The amount of gigabytes locals use on their phones and hotspots is substantial, though. The market consumes a lot of mobile technology, which is the major cause; thus, our recommendation is to purchase a hotspot as soon as you arrive in any Indian city. 

Coworking spaces, coffee shops, restaurants, and malls are places where you can find connectivity if you require it outside of your hotel. Avoid utilizing public hotspots in squares or other open spaces because they are usually very slow due to the volume of users. Hotspots are really not that expensive in India. Once you get in India, we do advise you to speak with locals to find out their recommendations for the finest hotspots and where to locate them for the best prices on international SIM cards. 

Don’t stress too much about the cost of an internet connection through an Indian hotspot. Even 4G connections often cost between $1 and $3 per day depending on the service. Make careful to charge the battery daily if you decide to get one; most gadgets have a 4 to 6 hour usage time.

Cost of Living 

The low cost of living in India is the primary incentive for digital nomads to visit. India is still far less expensive than other nations, even if a lot will also depend on the city where you will be residing. In India, a hotel room may cost $2, but do not anticipate receiving many frills for that little. A quality bedroom with at least a passable internet connection often costs between $5 and $15 per night. In Delhi, you can rent a furnished flat for up to $300 per month, but if you move to Bangalore—the Silicon Valley of India—the cost doubles. 

Be aware that it may take some time to obtain medium-term housing in India because landlords prefer to rent for weekly or monthly durations and demand at least half of the rent up front.

Regarding food costs, if you dine in modest settings, you may expect to pay between $5 and $10 per day. A luxury meal or top-rated restaurant may cost between $10 and $20 for a dinner for two. A cup of coffee costs only $0.10, compared to $0.90 for a Coca-Cola. Although purchasing locally is very affordable, you can totally indulge in a fine big dinner once a month without worrying too much about your finances.

Cheap Medium of Transport 

Similar to every other metropolis on this side of the globe, some taxi drivers will attempt to take the most difficult route in order to charge more. But generally speaking, taking a taxi in India is far less expensive than in other countries. A regular ride of between 5 and 10 kilometers could run you anywhere from $3 to $15, which is actually a pretty fair bargain.

You should be able to hail a cab from anywhere on the street, but it is always advised to become good friends with one particular driver for the duration of your journey. By having the same individual available during your working and spare hours, you can lessen your chance of falling victim to fraud. Taxi drivers much like this type of arrangement since it allows them to make more money each day from the same customer rather than going after new customers all around the city. We advise you to check with the staff at your hotel and the locals to pick the best taxi driver or go for various commuting apps like Ola, Uber etc. 

In a Nutshell 

Traveling in India is a wonderful experience that requires as much preparation as you can muster, including selecting the best locations and times of year to visit as well as having all the necessary paperwork and residence permits ready. Even though this is a relatively inexpensive location, we advise you to spend a little more than you had planned on for lodging for your safety too; although clean and secure hotel rooms cost a little more, they are unquestionably preferable than a $2 hotel room. 

Be ready to meet fantastic experts on your nomadic adventure and have a blast creating your Indian business network. 

Conclusion

India is undoubtedly worth taking into account even if it may not be the first nation that comes to mind when people consider becoming digital nomads. I genuinely hope that this guide has aided you in your quest to learn what an Indian digital nomad might anticipate in terms of visa requirements and a general understanding of how life would be there.

There are so many options available within the nation that even when your stay in India is up, I’m very sure you’ll still be itching to see more of it. India is an experience that not many other nations can compare to, with a culture and history as fascinating as its own, and a diverse scenery that is guaranteed to you.

Till then, Good Luck, Take care. 

Contributed by Sanal Pillai 

Edited by Imtiaz Ullah

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Luxury Travel

SURA SEME : SSIA SAW A STRONG RECOVERY IN CONSTRUCTION AND HOSPITALITY BUSINESS SEGMENT IN 9M22, NET PROFIT INCREASED BY 126% YoY

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Press Release – 28 November 2022

SSIA SAW A STRONG RECOVERY IN CONSTRUCTION AND HOSPITALITY BUSINESS SEGMENT IN 9M22, NET PROFIT INCREASED BY 126% YoY

PT Surya Semesta Internusa Tbk (“SSIA”) 9M22 Financial Highlights

  • SSIA for the nine months of 2022 posted a consolidated revenue of Rp2,469.0 billion. The revenue increased by about 77.3% from Rp1,392.8 billion booked in 9M21. This increase was mainly due to a strong recovery in construction and hospitality revenue which were up by 72.7% (Rp743.0 billion) and 249.2% (Rp269.1 billion) respectively. SSIA property business segment revenue increased by about 33.9% (Rp92.6 billion).
  • The 9M22 gross profit increased by 124.0% YoY to Rp553.1 billion, from Rp246.9 billion in 9M21, mainly contributed from increase in hospitality gross profit by 801.4% (Rp198.8 billion)
  • 9M22 EBITDA increased by 3,211.5% YoY to Rp223.7 billion from -Rp7.2 billion in 9M21, due to increase in construction and hospitality EBITDA by 143.1% (Rp74.1 billion) and 159.2% (Rp144.0 billion) respectively.
  • SSIA consolidated net income in 9M22 stood at Rp70.8 billion, an increase by 126.3% compared to the net loss of Rp269.0 billion in 9M21. The increase was primarily due to divestment of warehouse rental business worth total of Rp562.3 billion in June 2022.
  • The Company cash position per 9M22 stood at Rp1,127.6 billion, higher by 69.5% from 9M21 cash position at Rp665.1 billion, the increase was primarily from sale of investment in warehouse rental business (PT SLP SURYA TICON INTERNUSA & PT Surya Internusa Timur).
  • The interest-bearing debt for the period 9M22 amounted Rp2,592.9 billion, which resulted debt/equity (gearing) ratio of 62.7%.
  • Supporting its expansion goals, SSIA is currently building and optimizing the SOPs and business processes effectively and efficiently for higher quality and control. The Company started an ERP Implementation project in the beginning of November 2022.

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Consolidated Financial Statements (in billion Rp)

9M22

9M21

YoY

Revenues

2,469.0

1,392.8

77.3%

Property

366.2

273.6

33.9%

Construction

1,764.6

1,021.6

72.7%

Hospitality

377.0

108.0

249.2%

Others

8.8

0.8

959.6%

Gross Profit

553.1

246.9

124.0%

EBITDA

223.7

-7.2

3,211.5%

Net Income

70.8

-269.0

126.3%

Comprehensive Income

136.0

-242.0

156.2%

EBITDA Margin

9.1%

-0.5%

9.6 ppts

Net Income Margin

2.9%

-19.3%

22.2 ppts

9M22

9M21

YoY

Cash and Cash Equivalents

1,127.6

665.1

69.5%

Total Assets

8,298.9

7,821.6

6.1%

Interest Bearing Debt

2,592.9

2,500.4

3.7%

Total Liabilities

4,160.8

3,855.4

7.9%

Non-Controlling Interest

413.1

453.4

-8.9%

Equity

3,724.9

3,512.9

6.0%

Business Segment Analysis

9M22

Business Segments

in billion Rp

Property

Construction

Hospitality

Total

Revenues

366.2

1,764.6

377.0

2,469.0

Segment percentage

15%

70%

15%

100%

Gross Profit

152.9

193.6

223.6

553.1

Segment percentage

27%

34%

39%

100%

EBITDA

97.9

125.8*

53.5

223.7

Segment percentage

35%

45%

19%

100%

Gross Profit Margin

41.8%

11.0%

59.3%

22.4%

EBITDA Margin

26.7%

7.1%

14.2%

9.1%

*Includes income from JO Rp57.5 million

9M21

Business Segments

in billion Rp

Property

Construction

Hospitality

Total

Revenues

273.6

1,021.6

108.0

1,392.8

Segment percentage

19%

73%

8%

100%

Gross Profit

112.6

113.5

24.8

246.9

Segment percentage

45%

45%

10%

100%

EBITDA

70.8

51.8*

-90.4

-7.2

Segment percentage

220%

161%

-281%

100%

Gross Profit Margin

41.2%

11.1%

23.0%

17.7%

EBITDA Margin

25.9%

5.1%

-83.7%

-0.5%

*Includes loss from JO Rp1.069 billion

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Property

  • According to Cushman & Wakefield 3Q22 report, about 102.51 hectares land sales were recorded in YTD 3Q 2022 in greater Jakarta. Data center was recorded to give the highest contribution to the demand in this quarter of 53.2% and textile sector contributed about 21.3% of the demand, whilst other sectors such as automotive, building material, medical and healthcare absorbed the balance of demand.
  • SSIA property unit which consists of industrial estate revenue, maintenance fees, commercial rental & residential booked a revenue of Rp366.2 billion in 9M22, up by 33.9% from Rp273.6 billion in 9M21.
  • PT Suryacipta Swadaya (SCS), which is the Company main business, booked revenue of Rp293.5 billion in 9M22, compared to Rp202.2 billion in 9M21, an increase of 45.2%. Mainly due to increase in land sales by about 977.3% YoY. (Rp79.6 billion in 9M22 vs Rp7.4 billion in 9M21).
  • To date, SCS successfully posted 9 hectares marketing sales with ASP of USD127.4/sqm from Suryacipta Karawang inventory land, subsequently this will bring revenue of USD11.4 million or ~Rp167.2 billion. In addition, SCS is expecting more marketing sales towards the end of the year that shall bring SCS closer to its full year target (20ha). Meanwhile, Subang Smartpolitan managed a good start for its first land sales of 2 hectares to a Japanese company in 2H22.
  • Subang Smartpolitan is the first integrated township in Indonesia built with smart and sustainable concept from the ground-up with 4 pillars as its eco- system:
    1. Business: A place for state-of-the-art industries and businesses. It offers smart and modern infrastructure for industrial and business area.
    2. Connectivity: The most strategic and interconnected township it has
      • Direct access to transportation networks (highway, railway, seaport, airport) connecting major cities
      • Smart and sustainable mobility system
      • ICT connectivity & State of The Art Infrastructure
    3. Community: A desirable place of living for the future, it offers
      • Eco-friendlyestate design
      • Technology-enabledestate governance
      • Zero black-out energy & Zero Wi-Fi blackout
      • Essential commercial and amenities
    4. Education & Innovation: An integrated platform to drive innovation and talent development
      • It provides education and innovation facilities in-line with business and market need
  • Edenhaus Simatupang, a portfolio of PT TCP Internusa, is a luxurious housing cluster consists of 41 units of boutique homes designed with a garden home resort concept and worth about Rp300 billion. TCP managed to post marketing sales of 32-unit houses (Rp231.1 billion) until 30 Sep 2022. Meanwhile TCP has booked accounting sales of 15 units (Rp104.1 billion).

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Construction

  • PT Nusa Raya Cipta Tbk (“NRCA”), SSIA’s construction unit, for the nine months of 2022 recorded a consolidated revenue of Rp1,769.3 billion. Its revenue compared to the same period in 9M21 increased by 72.7% from Rp1.024,6 billion. It also booked Rp66.5 billion of net profit from January – September 2022, increased by 311.2% from 9M21 net profit of Rp16.2 billion.
  • NRCA, for the nine months of 2022 period booked new contracts of Rp1,995.1 billion, increased by 33.5% than new contracts achieved in 9M21 of Rp1,494.9 billion. Main projects obtained in 9M22 were Pakuwon Bekasi Mixed Use Bekasi, Fair Field By Marriot Hotel Jakarta, RS Jantung Heartology Jakarta, Matera Club House Gading Serpong, Tjiwi Kimia Surabaya, Luxury Hotel Labuhan Bajo, PT Smelter Gresik, Hotel Aston Serang, Gedung 2 RS Orthopedi & Traumatologi Surabaya, JHL Office S8 Gading Serpong, Office Building H2 Karawang, Apartement B Residence Grogol, and Pabrik Ferron Cikarang.

Hospitality

  • SSIA hospitality business unit booked a revenue of Rp377.0 billion in 9M22, a 249.2% increase compared to Rp108.0 billion in 9M21.
  • Colliers 3Q22 report stated that the Q3-2022 seems to have achieved the peak of hotel performance throughout 2022. Domestic and international travel regulations have become more relaxed, businesses have started taking off, and most importantly, offline activities have resumed. This is not only pushing room occupancy upward, but it’s also driving a moderate increase in the use of meeting rooms. The fear of global inflation and recession might create uncertainties in the hospitality industry, probably within the next year, but this year, most stakeholders in the hospitality industry will push the hotel market to perform better than last year.
  • The Gran Melia Jakarta (GMJ) occupancy rate for 9M22 was at 42.8% from 17.2% in 9M21. While the average room rate (ARR) for the nine months of 2022 was around Rp1,025K from Rp854K in 9M21.
  • According to Colliers 3Q22 report, Bali remains as a main holiday destination. The chief parameters to highlight the recovery of the hotel market in Bali include the gradual increase in both domestic and foreign visitors, occupancy, and daily room rates. If the scenario of a global recession in 2023 proves to be right, pressure is set to mount on the hospitality industry, possibly in 2023; however, we still believe that Bali will explore its capacity to perform better and that travelers will still spend money on vacations, at least until the end of 2022.
  • Melia Bali Hotel (MBH) occupancy rate in 9M22 at 51.1% increased from 7.3% in 9M21. The MBH ARR was at Rp1,493K in 9M22 from Rp682K in 9M21.
  • In February 2022, SSIA signed an agreement with a leading global hospitality company, Hilton (LXR Hotels & Resorts). SSIA sets to open the first LXR- branded resort in South East Asia in late 2022, Jumana Bali will join a collection of unique, independent luxury properties around the world, which

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includes the recently opened ROKU KYOTO, LXR Hotels & Resorts in Japan. The ability to retain the resort’s unique identity while benefitting from Hilton’s rich experience in delivering exceptional hospitality and strong brand values will allow SSIA to redefine the luxury travel experience in one of Bali’s most sought-after destinations.

  • The Jumana Bali (JBUR) occupancy rate in 9M22 was at 14.5% from 9M21 occupancy rate of 5.4%. The 9M22 ARR was at Rp6,214K, from Rp4,478K in 9M21.
  • SSIA currently manages BATIQA Hotels in eight locations i.e. BATIQA Hotel & Apartments Karawang, BATIQA Hotel Cirebon, BATIQA Hotel Jababeka, BATIQA Hotel Palembang, BATIQA Hotel Pekanbaru, BATIQA Hotel Lampung, BATIQA Hotel Darmo – Surabaya, and BATIQA Hotel Jayapura. 9M22 occupancy rate of BATIQA Hotels recorded at 58.1%, while its ARR was at Rp337K. BATIQA 9M21 ARR was Rp303K with 45.1% occupancy rate.
  • SSIA’s digital platform, Travelio.com, an innovative online rental property company that offers short, medium, and long-term rental options for apartments and houses in 12 key cities around Indonesia. Supported by investment companies Temasek Holding’s Pavillion Capital in Singapore, Samsung Ventures, Gobi Partners and Vynn Capital. In 9M22, Travelio achieved 71% increase in Gross Merchandise Value (GMV) YoY and aims to grow 22% by end of the 2022. Ending September 2022, Travelio, as the largest private residences platform in Indonesia, managing around 12,500 units and is expected to reach over 14,000 units by December 2022. Travelio is also poised to achieve profitable status by 2023 through its sustainable growth.

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About PT Surya Semesta Internusa Tbk (SSIA)

SSIA, previously known as PT Multi Investments Limited, was established on 15 June 1971. The company name was later changed to PT Surya Semesta Internusa (SSIA) in 1995. SSIA’s main businesses are industrial estate & real estate development, construction and hospitality.

SSIA’s investment portfolio is diverse, including Suryacipta City of Industry, Subang Smartpolitan, SLP Karawang (divested on 6 June 2022), Edenhaus Simatupang, Graha Surya Internusa (to be rebuilt as SSI Tower), Hotel Gran Melia Jakarta, Melia Bali Hotel, Jumana Bali (formerly Banyan Tree Ungasan Resort Bali), and BATIQA Hotels.

For more than 50 years in the business, SSIA has strengthened its recognition and brand position as one of the strongest development companies in Indonesia. Cementing its status as a leading company, SSIA listed its shares on the Indonesia Stock Exchange and became a public company on 27 March 1997. For more information, visit www.suryainternusa.com.

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For more information, please contact: Erlin Budiman

VP Head of Investor Relations [email protected] Office: +62215262121

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PT Surya Semesta Internusa Tbk published this content on 28 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 November 2022 06:14:01 UTC.

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