As of March 2021, no longer restricted, except for specifc travel agency services for Umrah and Special Hajj, which is now closed to FDI. Previously, foreign investment in catering and travel bureau agencies and in a few other touristic activities was limited to 67% of equity interest [up from 51% previously]. Foreign investment in travel agents and tour guiding companies was reserved for indonesian-owned SMEs [foreign-invested companies do not qualify as SMEs because of minimum capital requirements].
"APPENDIX III - REGULATION OF THE PRESIDENT OF THE REPUBLIC OF INDONESIA NUMBER 49 OF 2021 CONCERNING AMENDMENT TO PRESIDENTIAL REGULATION NUMBER 10 OF 2021 CONCERNING THE INVESTMENT BUSINESS SECTOR
LIST OF BUSINESS FIELDS WITH CERTAIN REQUIREMENTS
-  Catering, Golf court, Bowling, Organization of Meeting, Incentive, Convention, and Exhibition [see 2019 restrictions below]: Open (without condition)[no longer listed]
- Natural tourism object business outside conservation areas, Singing room / karaoke  [see 2019 restrictions below]: Open (without condition)[no longer listed]
- Tourism travel bureau [see 2019 restrictions below]: Open (with the following condition: Domestic capital 100% and Muslim for activities of the Travel Bureau for Umrah and Special Hajj [Islamic religious pilgrimage])" (Presidential Regulation (PERPRES) No. 49 of 2021 Concerning Amendments to Presidential Regulation Number 10 of 2021 concerning Investment Business Fields [google translation])
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"APPENDIX II - REGULATION OF THE PRESIDENT OF THE REPUBLIC OF INDONESIA NUMBER 44 YEAR 2016 CONCERNING LISTS OF BUSINESS FIELDS THAT ARE CLOSED TO AND BUSINESS FIELDS THAT ARE OPEN WITH CONDITION TO INVESTMENT
LIST OF BUSINESS FIELDS THAT ARE OPEN WITH CONDITIONS: RESERVED FOR OR IN PARTNERSHIP WITH MICRO, SMALL, AND MEDIUM-SCALE ENTERPRISES AND COOPERATIVES
[Hotels & restaurants]
- Tourism Travel agents, Tour guides, homestary(cottage): Reserved for SMEs. 
[...]
APPENDIX III - REGULATION OF THE PRESIDENT OF THE REPUBLIC OF INDONESIA NUMBER 44 YEAR 2016 CONCERNING LISTS OF BUSINESS FIELDS THAT ARE CLOSED TO AND BUSINESS FIELDS THAT ARE OPEN WITH CONDITION TO INVESTMENT - 
LIST OF BUSINESS FIELDS THAT ARE OPEN UNDER SPECIFIC CONDITIONS [...]
I. Tourism and Creative Economy Sector
- Catering, Golf court, Bowling, Organization of Meeting, Incentive, Convention, and Exhibition: a. Foreign capital ownership: Max.67%; b. Foreign capital ownership by ASEAN countries’ investors: Max.70% 
- Natural tourism object business outside conservation areas, Singing room / karaoke: Foreign capital ownership: Max.67%[...]
- Tourism travel bureau [agency]: a. Foreign capital ownership: Max.67%; b. Foreign capital ownership by ASEAN countries’ investors: Max.70%. [...] "(PRESIDENTIAL REGULATION OF THE REPUBLIC OF INDONESIA NUMBER 44 YEAR 2016 CONCERNING LISTS OF BUSINESS FIELDS THAT ARE CLOSED TO AND BUSINESS FIELDS THAT ARE OPEN WITH CONDITIONS TO INVESTMENT)
Presidential Regulation (PERPRES) No. 49 of 2021 Concerning Amendments to Presidential Regulation Number 10 of 2021 concerning Investment Business Fields [google translation]
PRESIDENTIAL REGULATION OF THE REPUBLIC OF INDONESIA NUMBER 44 YEAR 2016 CONCERNING LISTS OF BUSINESS FIELDS THAT ARE CLOSED TO AND BUSINESS FIELDS THAT ARE OPEN WITH CONDITIONS TO INVESTMENT
[<a href="https://peraturan.bpk.go.id/Home/Details/168534/perpres-no-49-tahun-2021">PR49</a>],[<a href="https://peraturan.bpk.go.id/Home/Details/161806/perpres-no-10-tahun-2021">PR10</a>],[<a href="https://peraturan.bpk.go.id/Home/Details/40374/perpres-no-44-tahun-2016">PR44</a>]