A beach in Kuta on Indonesia's resort island of Bali on March 22, 2020. (AFP)

Balinese authorities are launching a thorough investigation into the elevator incident at the Ayuterra Resort in Ubud, which resulted in the death of five hotel workers on Friday.

The accident occurred around 1 PM and is believed to have been triggered by the failure of an inclined elevator, causing the cable supporting the lift to snap.

The elevator plummeted approximately 100 meters down a steep ravine on the hillside resort, claiming the lives of three women and two men who all served in the hotel's housekeeping department.

Two of the individuals lost their lives at the accident scene, while the remaining three succumbed to their injuries later in the hospital.

Surveillance camera footage capturing the moment of the incident, shared by local media publication Kumparan, shows the cable-operated lift hurtling down the steep track that connected the upper section of the hotel to facilities further down the cliffside.

In response to the incident, guests at the resort have been relocated to alternative accommodations while investigations are underway.

The owner of Ayuterra Resort has stepped forward to cover the funeral expenses for the victims and offer compensation to their grieving families. However, the payout of approximately $4,000 per family comes with the stipulation that legal action against the resort will not be pursued, as reported by News Corp.