Hotel Occupancy Increases During Eid, Pay Attention to Analyst Recommended Stocks

Reporter: Aulia Ivanka Rahmana | Editor: Noverius Laoli

KONTAN.CO.ID – JAKARTA. The Ministry of Tourism and Creative Economy/Tourism and Creative Economy Agency (Kemenparekraf/Baparekraf) predicts that hotel occupancy levels during the Ramadan to Eid holidays could be above 70% this year.

Marketing Director of PT Eastparc Hotel Tbk (EAST) Wahyudi Eko Sutoro said that his party hopes that the room occupancy rate during the Eid holiday will be the same as the previous year, namely almost completely filled or close to 100%.

“We hope that the room occupancy rate during the Eid holiday will be like the previous year, namely close to 100%,” said Wahyudi to Kontan.co.id, Tuesday (5/3).

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To realize this target, EAST implemented a number of strategies, namely implementing operational cost efficiencies, adding various facilities for guests.

“Then determine the room price by implementing dynamic pricing and of course carrying out maximum promotion via social media,” he continued.

This year, EAST is also targeting revenue growth of IDR 110 billion to IDR 120 billion, this figure grows by 12.83% compared to realized revenue in 2023 of IDR 106.35 billion.

Meanwhile, EAST has budgeted capital expenditure (Capex) of IDR 2 billion which will be used for building maintenance and repairs, as well as supporting facilities.

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Pilarmas Investindo Sekuritas Associate Director Maximilianus Nicodemus said hotel occupancy rates during the Ramadan and Eid holidays have the potential to increase by more than 70%.

The Ministry of Transportation has also predicted that the number of homecoming travelers in 2024 will increase by up to 6% compared to last year.