Strategic Hospitality Services Pte Ltd agreed to acquire PT Central Pesona Palace from PT Agung Podomoro Land Tbk (IDX:APLN) and PT Kencana Unggul Sukses on December 8, 2017. In related transactions, Central Pesona Palace will sell to PT SHR Pullman Indonesia, furniture, equipment and supplies related to the Jakarta Central Park Hotel Pullman. The consideration will be used by PT Agung Podomoro Land for the purposes of capital expenditures and expanding the business.