The travel industry has faced serious losses during the Covid-19 pandemic.
Airlines are struggling to stay afloat, and hotels have not been spared either.
Bintan Lagoon Resort closing
Bintan Lagoon Resort, which has sustained losses over the past two years, has filed for bankruptcy in late July, according to TTG Asia.
Their financial difficulties were exacerbated due to Covid-19.
Some 500 staff will lose their jobs with the closure.
Bintan Lagoon Resort is the largest integrated resort in Bintan Regency, and spans over 300 hectares.
The resort has over 400 rooms, suites and villas, and two golf courses.
The resort was in operation for 26 years.
As of March earlier this year, Singapore’s borders were closed to short-term visitors.
The closure has affected the Indonesian economy, particularly in the Riau Islands as it depends largely on Singaporean tourists, Jakarta Post reported.
Riau Islands attracted 2.59 million international visitors in 2019 alone, with almost half (47 percent) from Singapore.
Jakarta Post also reported that Batam contributed nearly 75 per cent of Riau Islands' foreign tourist arrivals, followed by Bintan.
Bintan Island is the largest in the Riau archipelago.
Top photo via Bintan Lagoon Resorts.