Indonesian hospitality company ARTOTEL Group has secured an undisclosed amount of strategic investment led by sole investor Intudo Ventures, the company announced in a release.
Founded in 2013 by siblings Erastus and Christine Radjimin, ARTOTEL Group specializes in integrated business offerings across hotel management, food & beverage, event management and curated merchandise.
Under the brands of ARTOTEL and CURATED COLLECTIONS, ARTOTEL Group currently operates more than 1,000 hotel rooms featuring art-inspired designs.
For hotel owners, ARTOTEL Group provides technical assistance in exterior and interior design, space planning, engineering and construction of the hotel and its related facilities, while in the food & beverage vertical, the company currently operates restaurants, bars, as well as beach clubs.
With this round of financing, ARTOTEL plans to strengthen its existing operations while also expanding its business throughout Southeast Asia.
The company says it will focus on implementing and enhancing hotel infrastructure management, restaurant and bar, human capital management, advanced Customer Relationship Management, and a lifestyle community-based loyalty program.
In the next couple of years, the company aims to develop new hotel brands and enhance brand differentiation, including economic hotels such as BOBOTEL, as well as high-end residencies such as ARTOTEL Suite, ARTOTEL Casa, and ARTOTEL Villa.
The company says it has a pipeline of over 50 properties under discussion for development, including 20 properties already confirmed to be in operation by 2020 and 30 properties in conceptualization phase, including hotel, restaurant & bar, and beach club properties throughout Southeast Asia.
“The concept of ARTOTEL Group all started with our vision to combine high-quality hospitality with contemporary art. As market demand continues to grow, we plan to develop more hotel brands to fulfill diverse consumer hospitality needs to cover lodging, leisure, dining and beyond,” said Erastus Radjimin.
This investment by Indonesia-based Intudo marks the first external round of investment for ARTOTEL Group, which says it has already achieved profitability.
Intudo Ventures is an Indonesia-focused independent venture capital firm, which acts as the Indonesia beachhead strategy for dozens of leading VC/PE/hedge funds, corporations and family offices from US, Greater China, Korea, Southeast Asia and Europe.
Early this year, Intudo announced that it had raised $20 million for its debut fund, which looks to take equity and a board seat in about a dozen startups in the consumer, health, financial services and education sectors.
Last month, the firm announced participation in a $1-million pre-seed funding round for genetics testing company Nalagenetics.