T Arsy Buana Travelindo Tbk (HAJJ) announced the achievement of a contract to increase the management of 4-star hotel rooms by 1,143 rooms in Madinah and Makkah with a potential revenue of IDR 515 billion.
Arsy Buana Travelindo participated in the 2024 Umrah and Ziyarah Forum held in Madinah, Saudi Arabia. The forum, which was opened and inaugurated by the Government of the Kingdom of Saudi Arabia at the King Salman International Convention Center on Monday (22/4/2024) evening local time. This activity has the aim of becoming a forum for all religious travel service providers to Saudi Arabia to understand the efforts of the Kingdom of Saudi Arabia to improve services to pilgrims.
The presence of PT Arsy Buana Travelindo LLC, a subsidiary of PT Arsy Buana Travelindo Tbk, became one of the participants in the forum. The event was also attended by important delegates such as the Minister of Hajj and Umrah Affairs of the Kingdom of Saudi Arabia, Tawfiq Al Rabiah, and the Governor of Medina, Prince Salman bin Sultan.
Read : Arsy Buana (HAJJ) Secures Contract in Saudi Arabia and Attends Umrah Forum
HAJJ Finance Director Agung Prabowo stated that in addition to participation in the forum, Arsy Buana Travelindo also announced the achievement of a contract to increase the management of 4-star hotel rooms by 1,143 rooms. The additional rooms include the Golden Tulip hotel in Medina with 725 rooms and Al Ayam Hotel in Mecca with 418 rooms.
This contract has a potential revenue of IDR 515 billion with a gross profit margin of 20%. The hotel allotment contract period is valid for 1 year and can be extended up to 3 years.
With this increase in room management, we aim to improve the Company's performance and provide greater benefits for pilgrims and shareholders of the company,” said Agung Prabowo, in a press release, Monday (5/13/2024).
HAJJ President Director Saipul Bahri said that the 2024 Umrah and Ziyarah Forum activity aims to become a forum for all religious travel service providers to Saudi Arabia to understand the Kingdom of Saudi Arabia's efforts to improve services to pilgrims.
“We participate in the 2024 Umrah and Ziyarah Forum to increase collaboration with the governments of Saudi Arabia and Indonesia, as well as to strengthen Arsy Buana Travelindo's services to pilgrims,” said Saipul Bahri.
Meanwhile, in terms of performance, HAJJ recorded positive revenue, as of February 2024 it managed to reap revenue of IDR133.1 billion, an increase of 137% year on year (yoy) compared to the previous year's period. The sentiment was influenced by the momentum of Umrah departures when welcoming the month of Ramadan.
