Sahid Jaya Hotel (SHID) Aims to Minimize Losses as Much as Possible by 2024

April 18, 2024, 11.15 AM  | Reporter: Vina Elvira
Sahid Jaya Hotel (SHID) Aims to Minimize Losses as Much as Possible by 2024

ILUSTRASI. Hotel Sahid Jaya Solo milik PT Hotel Sahid Jaya International Tbk (SHID).

LISTED COMPANY - JAKARTA. PT Hotel Sahid Jaya International Tbk, the hotel management company of the Sahid Group (SHID), is aiming to improve its performance this year by targeting a maximum reduction in company losses. 

SHID's CEO, Hariyadi Sukamdani, revealed that the company's financial performance target for 2024 is to minimize losses as much as possible in order to achieve positive financial growth. 

One of the key growth moments for SHID's business at the beginning of 2024 is the Lebaran holiday. According to the company's internal data, the performance realization up to March 2024 is already better than that of March 2023. 

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“Compared to the 2024 budget, there is a 28% increase in revenue, while compared to last year it increased by 1%, and the occupancy level increased by 18% compared to the 2024 budget, while compared to last year it increased by 4%,” Hariyadi told on Wednesday (17/4). 

According to him, the Ramadan and Eid al-Fitr moments will certainly boost SHID's performance, but they are not the main drivers because the main target for SHID's performance growth starts from July to the end of 2024. 

However, with the arrival of the long Lebaran holiday period, they predict there will be a revenue increase of more than 28% in April 2024. The supporting factors are the sales of Bukber (Breaking Fast Together) Packages and Parcel sales. 

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To maximize performance for the remainder of 2024, Hariyadi said SHID is implementing several strategies, including regular and ongoing renovations, increasing revenue in the MICE segment, and F&B outlet sales. 

For additional information, last year, SHID recorded a business revenue of IDR 133.10 billion. This figure soared by 47.50% compared to the business revenue in 2022, which was recorded at IDR 90.23 billion. 

At the same time, SHID also recorded a loss for the year of IDR 23.52 billion, which decreased from the original IDR 31.23 billion in the same period the previous year. 

Editor: Syamsul Azhar

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