JSPT Increases Ownership in PT Wynncor Bali: Strengthening Its Position in Bali’s Hospitality Industry
PT Jakarta Setiabudi Internasional Tbk. (JSPT) increased its ownership in PT Wynncor Bali to 90%, strengthening its position in Bali's hospitality industry and reinforcing its long-term growth strategy in the tourism sector.
PT Jakarta Setiabudi Internasional Tbk (JSPT) has taken a significant step in reinforcing its position in Indonesia’s hospitality industry. On Friday, 17 November 2023, JSPT officially announced the successful acquisition of an additional 30% stake in PT Wynncor Bali, increasing its ownership from 60% to 90%. The shares were acquired from JC Hotels (Hong Kong) Limited, making JSPT the majority shareholder, while Hyatt International Corporation retains the remaining 10%.
PT Wynncor Bali is a key entity within JSPT’s hospitality portfolio, managing a collection of prestigious hotels in Bali, including Grand Hyatt Bali, Hyatt Regency Bali, and Andaz Bali—three iconic properties that represent the island’s renowned hospitality.
This acquisition is more than a transaction; it is a long-term strategic move. With greater control, JSPT is well-positioned to pursue new development opportunities and accelerate growth in the tourism sector.
Amid Bali’s tourism revival, JSPT reaffirms its commitment to delivering world-class hospitality experiences, supporting local economic recovery, and strengthening Indonesia’s presence on the global tourism map.
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