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Posted: 06 Jun 2014 | 6:00 am
Indonesia's PT Pusako Tarinka Tbk has acquired the company which owns and operates seven budget Tune hotels across the country.
Pusako will change their name to Red Planet Indonesia and will continue to be listed on the Jakarta Stock bourse.
The company is expected to develop more than 20 more Tunes on a franchise basis throughout South East Asia'a largest economy.
It's expected the move with the listed firm will help fund a widespread Tune expansion across the archipelago.
A column featuring environmental issues and conservation around the island. Click here for more Green Reports check out the latest story from the leading experts:
Koh Phi Phi's Zeavola resort has won a five-star award in the sustainable hotel in Thailand category.
A wide-spread public outcry over a proposed coal-fired power plant in nearby Krabi has seen the project's environmental permit denied.
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