TRENDS
MARKET BRIEF
Jakarta Hotel | H1 2024

​​At the beginning of the first half of 2024, the Jakarta hotel industry experienced slower growth compared to the latter half of the year. The slowdown was primarily due to the Ramadhan season, during which government and business activities typically quiet down. However, the market remained strong as MICE activities resumed after Eid, and numerous musical events were hosted in the city during this period. Unlike previous years, the General Election held in the first half of 2024 had minimal impact on occupancy rates in Jakarta’s hotel market. Hotel performance is projected to continue improving until mid-Q4 2024.
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