JAKARTA, 3 November 2021: ARTOTEL Group announces that the
company has signed a Memorandum of Understanding (MOU) with a public company on
behalf of PT Planet Properindo Jaya Tbk to operate Vue Palace Hotel – Bandung.

The MOU was signed recently by ARTOTEL Group founder Erastus
Radjimin and PT Planet Properindo Jaya Tbk, president director Antonyo Hartono
Tanujaya.

Vue Palace Hotel – Bandung is a four-star hotel located in
the city centre of Bandung city, West Java, close to the city’s train station
and central business district.

ARTOTEL Group will transform the 102-room Vue Palace Hotel
into a mid-scale boutique hotel, and in 2022, the property will change its name
to ARTOTEL Vue Palace – Bandung.

ARTOTEL hotels are best known for their in-house display of
artworks curated by the group’s art and creative division. Vue Palace will
continue to operate as usual, but under the name Vue Palace, ARTOTEL Curated
while the remake is underway and rebranding is underway.

Vue Palace, ARTOTEL Curated is the group’s second hotel in
Bandung, after De Braga by ARTOTEL.

ARTOTEL Group will operate other hotels in the PT Planet
Properindo Jaya Tbk portfolio including two hotels in Jakarta and Bali.

The Jakarta hotel will be renamed under ARTOTEL’s ROOMS INC brand
at the end of 2021, while the hotel in Bali will be rebranded in 2022.