13/12/2018 – ARTOTEL Group, an Indonesian hospitality company has today secured a strategic investment led by sole investor Intudo ventures.
ARTOTEL is set up in 2013 by siblings Erastus and Christine Radjimin. The group specializes in integrated business offerings across hotel management, food and beverage, event management, and curated merchandise.
Under the brands of ARTOTEL and CURATED COLLECTIONS, ARTOTEL Group currently operates more than 1,000 hotel rooms featuring unique art-inspired designs.
For hotel owners, ARTOTEL Group also provides technical assistance in terms of exterior and interior design, space planning, engineering, and construction of the hotel and its related facilities.
Besides, the group is also involved in the food and beverage vertical, managing restaurants, bars, as well as beach clubs.
With the freshly raised capital, ARTOTEL plans to strengthen its existing assets while also expanding its business throughout Southeast Asia.
The company says it will focus on implementing and enhancing hotel infrastructure management, restaurant, and bar, human capital management, advanced Customer Relationship Management, and a lifestyle community-based loyalty program.
Moving forward, ARTOTEL is also planning to develop new hotel brands and enhance brand differentiation, including economic hotels such as BOBOTEL, as well as high-end residences such as ARTOTEL Suite, ARTOTEL Casa, and ARTOTEL Villa.
According to ARTOTEL, it has a pipeline of over 50 properties under discussion for development.
This includes 20 properties already confirmed to be in operation by 2020 and 30 properties in conceptualization phase, including hotel, restaurant & bar, and beach club properties throughout Southeast Asia.
“The concept of ARTOTEL Group all started with our vision to combine high-quality hospitality with contemporary art, As market demand continues to grow, we plan to develop more hotel brands to fulfill diverse consumer hospitality needs to cover lodging, leisure, dining, and beyond,” said Erastus Rajimin.
This investment by Intudo marks the first external round of investment for ARTOTEL Group, which says it has already achieved profitability
Intudo Ventures is an Indonesia-focused independent venture capital firm, which acts as the Indonesia beachhead strategy for dozens of leading VC/PE/hedge funds, corporations and family offices from US, Greater China, Korea, Southeast Asia, and Europe.
Early this year, Intudo announced that it had raised US$20 million for its debut fund, which looks to take equity and a board seat in about a dozen startups in the consumer, health, financial services, and education sectors.
Last month, the firm announced that it has participated in a US$1-million pre-seed funding round for genetics testing company Nalagenetics.
This news is published on Reuters.