Indonesian Group Does Tune Deal
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.