Hundreds of Bali hotels up for sale on online marketplace
Hundreds of hotels in Bali are going up for sale, listings on real estate marketplace Lamudi showed this week, as low hotel occupancy rate persists across the island in the second year of the COVID-19 pandemic.
A search for Bali hotels on the platform showed 631 results this afternoon, with properties located in popular tourist areas across the province. The listings include hotels like Kuta Paradiso Hotel on Jl. Kartika Plaza marketed at IDR875 billion, Tijili Benoa in Nusa Dua at IDR1.8 billion (for ownership of one room), and Swiss-Belhotel Rainforest on Jl. Sunset Road at IDR250 billion.
This appears to illustrate just how much the COVID-19 pandemic has impacted the local economy, which is still largely dependent on its tourism industry. With travel restricted to curb spread of the coronavirus and most international visitors barred from entering the country, many hotels have been forced to cut down or shut operations since last year.
“The rate of occupancy in Bali is only around 10 percent in 14 months, and this has significantly impacted the economy,” Manuhutu, a deputy from the Maritime Affairs and Investment Ministry, said in a statement.
Bali’s economy shrank 9.31 percent in 2020, making it one of the hardest hit regions in Indonesia amid the COVID-19 pandemic.
Read Also — Indonesia continues to promote ‘Work From Bali’ initiative to revive local economy
USD1 = IDR14,350
Editor’s Note: This article has been edited to specify that the price listed for Tijili Benoa in Nusa Dua is for the ownership of one room, not the entire hotel. We apologize for the error.
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