MARKET BRIEF
Jakarta Hotel | H2 2024

​​The performance of Jakarta's hotel industry remained robust in the second half of 2024, following a strong showing in the first half of the year. The government's mid-November announcement of a 50% budget reduction for state civil servants (ASN) had minimal impact on the city's hotel sector. While hotels that rely heavily on government business were somewhat affected, those with more diverse markets felt less of a strain. Looking ahead to the first half of 2025, hotel performance is projected to continue improving gradually despite uncertain global economic conditions and the government's plan to further reduce the budget for official travel.
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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