LOFTY is the target set by Panorama Group CEO, Budi Tirtawisata, who aims to grow the company’s asset value to Rp3 trillion (US$240 million) by 2020.
The sum is triple Panorama’s valuation in 2012, when it was worth Rp1 trillion.
Budi was addressing his 160-strong management team at the Panorama Management Conference in Bukittinggi, West Sumatra last weekend.
Of Panorama’s five pillars of business – inbound, travel and leisure, media, transport and hospitality – Budi said there was still unexplored potential in the hospitality and media fields. Media here comprises MICE, publications, e-commerce and Panorama’s live entertainment businesses.
“On the e-commerce side, we started a few years ago and now we have six online platforms,” he said. “We will continue to expand our distribution channels, online and off(line),” he added.
New initiatives and joint ventures are expected to be announced in the next few months.
Panorama’s goals may not be as ambitious as they seem, considering that socioeconomic factors are in Indonesia’s favour, including the country’s new pro-growth government and tumbling oil prices.
“The government is targeting 20 million arrivals to Indonesia, and do not forget, there were 250 million domestic travellers (last year) and this is expected to double by 2020. This is a huge target, and Panorama can play a part in achieving this target,” said Budi.
But he cautioned his team that the prevailing eurozone crisis, spread of terrorism worldwide and the implementation of the ASEAN Economic Community, which will present both a challenge and opportunity, meant it is no time to rest on past glories.
“(In this environment), being efficient and effective is no longer enough. We need to be creative, innovative and proactive,” said Budi.
