Today, We are proud to announce the completion of an undisclosed Series B round of financing. The round was led by Indies Capital Partners, a leading Southeast Asian alternative asset manager, with participation from creative industry-focused Benson Capital. ARTOTEL Group will utilize the proceeds of this financing to drive expansion through an aggressive merger and acquisition strategy in Indonesia’s hospitality sector and invest in strengthening the group’s core business infrastructure, digitizing operations, and enhancing sustainability throughout the organization.

With this round of financing, ARTOTEL Group will actively seek out strategic partnerships with hotel operators throughout Indonesia and aggressively pursue mergers & acquisitions with high-quality Indonesian hospitality companies. ARTOTEL Group is targeting the development of new properties in Indonesia’s first-tier and second-tier cities, as well as new tourism destinations that are projected to open in the coming years. Currently, ARTOTEL is in the process of rolling out 29 new properties in its pipeline across Indonesia, which will bring the total number of properties to over 50 by 2023. The company has adopted a forward-thinking position, investing heavily in digitization across the entire organization through technology – enabled hotel operation to improve customer service and guest experience, and demonstrating a long-term commitment to health and business sustainability, raising the bar for Indonesia’s hospitality sector.

In tandem with the investment, ARTOTEL Group has acquired the Indonesia franchise of Kyriad, a hospitality brand created by France-based Louvre Hotels Group. The deal includes 11 managed properties throughout the archipelago, adding an additional 1,300 rooms to ARTOTEL’s hospitality portfolio. The group will continue to manage the properties under the established Kyriad brand, and develop new Kyriad-branded two- and three-star hotels in second-tier cities throughout Indonesia. The acquisition brings ARTOTEL Group’s total room count to around 3,000 rooms.

Positioning itself for the future, ARTOTEL Group has adopted an offensive strategy geared to digitize its business to capture future growth while enhancing the hotel chain’s physical footprint. The company is strengthening its hotel operations infrastructure to better manage booking, management, and guest relations with a technology-driven approach, including brand activation events, online cultural events, and food & beverage delivery. ARTOTEL has consolidated and reshaped the organization through efficient and effective business planning, which has resulted in improved business margins and greater customer satisfaction.

With the support of our investors, ARTOTEL Group will be able to gain significant momentum, tapping into their expertise in business expansion, digital upgrading, and commitment to sustainability. Prior to this round of financing, ARTOTEL Group raised a Series A investment from Intudo Ventures.