Indonesia's Artotel Group Acquires Dafam Hotel Management

(08 Dec 2021)  Indonesia’s Artotel Group has completed its acquisition of Dafam Hotel Management.

The deal means that all 24 Dafam Hotels, which have a combined total of 2,507 rooms, are now part of the Artotel Group’s portfolio.

Earlier this year, Artotel also acquired the management of Kyriad Hotel Indonesia, a license holder of Kyriad Hotel Brand, one of the brands owned by France-based Louvre Hotels Group. The Kyriad deal comprises 11 hotels in Indonesia.

Hotel Dafam Savvoya Seminyak Bali

The acquisitions means that Artotel now has 50 hotels with over 5000 rooms in 24 cities around Indonesia.

Erastus Radjimin, Founder & CEO of Artotel Group, said, "We did not want to passively wait for the pandemic to end, so we took the initiative to acquire properties from Dafam Hotel Management and Kyriad Hotel Indonesia to further our dream of creating a unified hospitality ecosystem in Indonesia that can help hotels support one another in maintaining high standards of service as well as to broaden our market range, be it domestic and overseas."

The acquisitions have been realized through the completion of an undisclosed Series B round financing by Indies Capital Partners, a leading Southeast Asian alternative asset manager.

Proceeds of the funding will also be used to strengthen the group’s technology-based core business infrastructure.

Artotel has also obtained Series B funding by Benson Capital, an angel investor focused on creative industries.

Prior to the rounding of Series B funding, Artotel received an investment injection from Series A by Intudo Ventures, an independent venture company.

Financial details of the acquisition have not been disclosed.