JAKARTA, 19 December 2018: Radisson Hotel Group and Panorama Group, Indonesia’s leading travel company, have ended their PT Carlson Panorama Hospitality joint venture established in 2013.
Radisson Hotel Group will now acquire its Panorama’s stake in PT Carlson Panorama Hospitality, giving it full control of the Indonesian venture.
With 46 years of experience and more than 100 offices, Panorama Group is one of Indonesia’s leading tourism companies.
The conglomerate first entered into a “strategic partner alliance with Radisson Hotel Group (Carlson Rezidor) in 1999 as part of a joint venture agreement to establish Carlson Wagonlit Travel (CWT) in Indonesia.
“Our partnership has seen the expansion of our footprint across the Indonesian archipelago, establishing our brands in important markets,” said Radisson Hotel Group president Asia Pacific, Katerina Giannouka. “Panorama Group is one of Indonesia’s leading tourism companies and we intend to retain a strong working relationship with the group.”
Commenting on the five-year venture partnership with Radisson, Panorama Group chief executive officer, Budi Tirtawisata said: “As we move forward as independent companies, all signs indicate accelerated growth and expansion for both parties.”
Radisson Hotel Group currently operates three hotels in Indonesia: Radisson Blu Bali Uluwatu, Radisson Golf & Convention Centre Batam and Radisson Medan. Radisson Lampung is slated to open in the second quarter of 2019.
Panorama Group runs an integrated travel and tourism businesses covering inbound, travel & leisure, media, hospitality and transportation.
It has expanded its branch network to Malaysia and Thailand, and intends to open an office in Vietnam soon.