This study aims to determine the effect of debt to asset ratio and debt to equity ratio on return on assets in hotel, restaurant and tourism sub-sectors listed on the Indonesia Stock Exchange for the 2014-2018 period, either partially or simultaneously. This research is a quantitative research. The sampling technique in this study was purposive sampling with a sample of 16 companies from a population of 35 sub-sector companies including hotel, restaurant and tourism listed on Indonesia Stock Exchange. The data analysis techniques used in this study included descriptive statistics, classic assumption tests, partial correlation analysis, coefficient of determination, multiple regression analysis, and hypothesis testing. Additionally, multiple regression equation in this study was ROA= 0.308 + 0.154DAR – 0.038DER. The results of this study indicated that debt to asset ratio partially had a positive and significant effect on return on assets. It was indicated by β value of 0.154 and significance level of 0.000 < 0.05. In addition, the results also found that debt to equity ratio had a negative effect on return on assets, in which β value was -0.038 and significance level of 0.000 < 0.05. Debt to asset ratio and debt to equity ratio simultaneously have a significant effect on return on assets, indicated by a significance level of 0.000 <0.05.