Helen Wong, a partner with Qiming Venture Partners, said of the new investment, “We have seen the trend of budget hotel chains in China about 15 years ago, and believe that standardized accommodation at affordable prices will appeal to consumers and business travelers in SE Asia too. As online penetration of the travel industry grows, RedDoorz will be a key beneficiary with the most extensive network of hotels in the region. The company has executed well to become number 1, delivering strong value to hotel owners in user acquisition, technology and customer service. We look forward to working together with them and sharing our learnings from the China market”.
Commenting on the new strategic partnership and investment with RedDoorz, MNC Group President Director David Fernando Audy said, “MNC is delighted to have the opportunity to participate in this funding round. We believe the company’s track record in the online accommodation booking and hotel management is a brilliant solution for the independent hotel owners across Indonesia and provides great value for mass market nationwide customers. RedDoorz has a scalable business model and a practical solution for the fast-growing online travel booking Industry, especially in South East Asia. We will support RedDoorz to grow the brand in Indonesia and overseas."
Anurag Srivastava, co-founder and managing partner of Jungle Ventures, said of the series B raise: “We are proud to reiterate our support for RedDoorz, on its mission to deliver quality accommodations for Southeast Asia. RedDoorz has consistently outcompeted its rivals and over-delivered on the expectations of all stakeholders, in building this business. We look forward to RedDoorz's continued success and value-creation for the region.”
RedDoorz has also recently announced that it is on track to achieve one million occupied room nights per month by year-end. As of July 2019, RedDoorz is growing five times year-on-year and it has already reached 500,000 occupied room nights, an industry-first in Southeast Asia’s travel and hospitality category.
RedDoorz is Southeast Asia’s largest and fastest-growing, technology-driven hotel management company offering affordable accommodations for everyone. With a vision to enable people to travel more and provide an affordable reliable stay in all major cities and destinations across the region, RedDoorz is disrupting the hospitality industry by transforming the fragmented supply inventory into branded, standardised accommodations and leveraging its mobile app and digital channels to drive strong consumer demand.
The company was founded in 2015 by a team of senior executives with deep experience in the online travel and hospitality industry and has grown into a regional powerhouse with operations in Indonesia, Singapore, the Philippines and Vietnam. The firm has been growing by five times year-on-year.
As part of the RedDoorz brand network, hotel owners are able to grow their businesses and increase revenues while streamlining their operations. RedDoorz’s solutions help partners manage distribution, pricing, marketing, customer experience and technology solutions – offering an end-to-end platform powered by an advanced technology infrastructure. For more information, please visit www.reddoorz.com.