Record-breaking international visitor numbers and hotel performance in 2024

• As of YTD November 2024, more than 2.3 million international tourists visited Jakarta, a notable increase of 30% from the same time in 2023 and in excess of pre-pandemic levels by 3.7%.
• RevPAR in Jakarta hotels continued to rise significantly in Q4 2024, leading to double-digit growth from 2023 as ADR levels remain well elevated and occupancy growth has sustained over the last three months of the year.

25hours Hotel The Oddbird opened in Q4 2024

• The 25hours Hotel The Oddbird opened in November 2024, adding a total of 345 keys to the existing Jakarta market, split between the hotel and serviced apartments. This new completion brings the total supply to more than 64,400 rooms at end-2024, including serviced apartments.
• Two hotels totalling 343 rooms are anticipated to open in 2025, in addition to five new serviced apartment properties with 1,091 rooms. The majority of the new openings are located within the CBD area of Jakarta, followed by the Central area.

No hotel transactions complete in 2024

• The hotel capital market in Indonesia and Jakarta remained muted towards end-2024, with no completed transactions recorded for the full year as owners hold onto their assets amid a significant improvement in inbound tourism and high trading performance.
• In 2025, we expect cash flow-generating hotels in Jakarta**—**and more broadly Indonesia**—**to attract attention from investors in the region and globally.

Outlook: Continued tourism momentum expected in 2025 with higher-quality tourism

• Indonesia is expecting to attract between 14.6 and 16 million international tourists, depending on the overall 2024 official statistic, maintaining momentum from the previous year.
• According to the Tourism and Creative Economy Ministry: “The year 2025 is understood as a pivotal moment to build the foundation of quality tourism, an approach that is focused on sustainability and added value.”