Sultan Hotel Denies Royalties Debt of IDR 7.24 Billion
- here are the relevant facts from the provided text, stopping at the HARD STOP:
- * Dispute: PT Indobuildco (manager of the Sultan Hotel) is involved in a dispute with the government regarding the use of state land in the Gelora Bung Karno...
here are the relevant facts from the provided text, stopping at the HARD STOP:
* Dispute: PT Indobuildco (manager of the Sultan Hotel) is involved in a dispute with the government regarding the use of state land in the Gelora Bung Karno (GBK) area.
* Royalty bill: The government is suing PT Indobuildco for royalties of $45 million USD (approximately IDR 742.5 billion).
* Yunus Yamanie’s Testimony: Yunus Yamanie, General Affairs of the Sultan Hotel (employee for over 30 years), testified he was unaware of the royalty bill until recently.
* Decreased Occupancy: The Sultan Hotel’s occupancy rate has drastically decreased too below 20% as March 2025, down from a usual 90%.
* Cause of Decline: Yunus attributes the decline in occupancy to the government closing hotel access without a court order, leading to cancellations and loss of customer confidence.