61 Bali hotels for sale in all across the islands
Friday, 05 February 2021 04:31
60 hotels for sale across the islands due the 5/7 % low occupancy rate and difficulties of repayment bank loans. According Rai Suryawijaya the chairman of the Association of Indonesian Hotels and Restaurants in the Badung area only 27 hotels been for sale before the Covid-19 pandemic.This has been recently increased to 60 hotels spread across the Island. He explained that the sale of these hotels was due to the very low occupancy rates of aprox 5 rooms ( 5 / 7 % ) and unable to pay obligations to the bank to repay the loan, even though the banks given relaxation for their outstanding payments. More hotels will be listed for sale if f the Covid-19 pandemic is not over soon and other will facing bankruptcy.
He also said that so that not many hotels in Bali have been sold and his party had proposed the government to provide soft loans to the hotel owners. The high losses in the tourism sector in Bali since the Covid-19 pandemic has reached aprox IDR 10 trillion per month what makes it for the hotel owners very hard to survive and are not able to finance the maintenance and operation charges
60 hotels for sale in Bali
Source : https://www.merdeka.com/