It’s very bad news.
As the impact of a pandemic, hundreds of hotels in Bali are going up for sale. As cited from real estate marketplace Lamudi, the lists showed 631 hotels in Bali are going up for sale.
Manuhutu, a deputy from the Maritime Affairs and Investment Ministry, said in a statement said that the rate of occupancy in Bali is only around 10 percent in 14 months, and this has significantly impacted the economy.
The low hotel occupancy rate persists across the island in the second year of the COVID-19 pandemic, makes the owner of the hotels decided to choose their properties.
A search for Bali hotels on the platform showed hundreds of hotels, 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, 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 the 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.
Bali’s economy shrank 9.31 percent in 2020, making it one of the hardest hit regions in Indonesia amid the COVID-19 pandemic.