Indies Capital Buys 60% Stake In Swiss-Belhotel Indonesia From Ciputra Group
Main Photo: The Hotel Cipitra Cibubur, one of the 50 hotels across Indonesia, included in the deal
Date: November 2022
Name: Indies Capital; Swiss Belhotel Indonesia and PT Zest Hotels, both owned by Ciputra Group
Locations: Swiss-Belhotel International is a global group in 16 countries – Hong Kong, China, Indonesia, Malaysia, Philippines, Vietnam, Bahrain, Egypt, Kuwait, Oman, Qatar, United Arab Emirates, Australia, New Zealand, Switzerland, and Thailand, with over 125 properties. Outside Indonesia, Swiss-Belhotel International Group is owned 100% by its two original shareholders Gavin M. Faull and James K.C. Tam
Number of Keys: TBA
Seller: Ciputra Group Indonesia
Buyer: Indies Capital Partners, a leading alternative asset manager in Southeast Asia, headed up by Pandu Sjahrir, co-managing partner
Indies Capital Partners, a leading alternative asset manager in Southeast Asia, announced the acquisition of a 60% stake in PT Swiss- Belhotel International Indonesia and PT Zest Hotels International Indonesia from Ciputra Group Indonesia.
Swiss-Belhotel International Holdings Limited based in Hong Kong continues as the 40% shareholder of the companies and will continue to be part of the Swiss-Belhotel International Group – SBIG.
For Indies Capital this acquisition is a follow-up to their investment in Artotel Group, a leading boutique hospitality and lifestyle group in Indonesia. Swiss-Belhotel International will continue to operate independently and will also be a part of the fast growing Indies hospitality platform.
“Driven by the opportunity created by the pandemic, approximately 12 months ago, we launched Indies Hospitality Investments to be an aggregator of high quality hospitality platforms in the fragmented Indonesian sector. We believe that these two companies represent a leading platform of well positioned properties that will continue to flourish as tourism continues to recover post-COVID. The Swiss-Belhotel International portfolio of strong brands exude excellence in service for families and business travelers alike.” said Pandu Shahir, Managing Partner at Indies Capital.
“Indies Capital is excited to make this investment and partner with Swiss-Belhotel International Group and the existing leadership team in the next chapter of growth of the Companies – we believe in the long-term fundamentals of Indonesia’s hospitality sector and are looking to leverage our sector experience to support the Companies in further growing its leading market share and enhancing the guest experience through new technology and service offerings.” said Harold Ong, partner at Indies Capital.
“The shareholding change in Swiss-Belhotel International Indonesia is seen as a great opportunity for further expansion and growth in Indonesia. This is an exciting development and we are already working on expansion opportunities with Indies Capital.” said Chairman and President of Swiss-Belhotel International Group Gavin M. Faull.
Swiss-Belhotel International is a global group in 16 countries (Hong Kong, China, Indonesia, Malaysia, Philippines, Vietnam, Bahrain, Egypt, Kuwait, Oman, Qatar, United Arab Emirates, Australia, New Zealand, Switzerland, and Thailand) with over 125 properties. Outside Indonesia, Swiss-Belhotel International Group is owned 100% by its two original shareholders Gavin M. Faull and James K.C. Tam.
Indies Capital Partners is a Singapore headquartered alternative investment management company with a total of approximately US$800 million of assets under management focusing on private credit and growth equity. Since its inception in 2009, the firm has deployed more than US$ 1 billion into Southeast Asia investments, focusing particularly on the region’s largest economy, Indonesia. Indies holds a Capital Market Services license from the Monetary Authority of Singapore. Founded in 1987, Swiss-Belhotel International Group is headquartered in Hong Kong.
Price: Undisclosed
THPT Comment: Interesting deal…brings capital in for Messrs Faull and Tam, allowing them to still control the bigger picture. Well done!
First Seen: Hospitality Net
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