- Company achieved record monthly revenue in September and October 2021, surpassing Pre-COVID peak of December 2019
- Focused on new market expansion to Thailand in 2022
Speaking on the mainstage of the industry’s largest global conference, titled ‘Travel Renaissance’ by Phocuswright held in Florida from 15 – 17 November 2021, Amit Saberwal, Founder & CEO, RedDoorz said, “We have been steadfast and going strong despite pandemic related setbacks thrown in our way, and will continue to persevere to serve our customers and partners with utmost care and consideration. We have full confidence both in the future of tourism and in the future of RedDoorz. RedDoorz is a completely different, battle-ready company today just waiting for the tailwinds of recovery to expand exponentially and we look forward to a great 2022.”
“With the positive outlook in the travel and tourism industry, RedDoorz is more than ready to continue innovating with technology and continue on the journey to build the next generation hospitality 3.0 company – where brands, asset light players and digital contactless hospitality will lead the way forward. We believe there will always be regional heroes in our segment and we are glad to end the year in pole position in Southeast Asia,” added Saberwal.
The company spent the past few months preparing for the eventual recovery of the industry while adopting a hyperlocal approach targeted at its customers. RedDoorz focused on digitising several aspects of its business even more, rolled out various COVID-related initiatives and took on a multi-brand approach to get itself ready for the return of travelers.
RedDoorz’s new multi-brand approach is aimed to cater to the different needs of travellers, be it RedDoorz Budget (economy budget), SANS Hotels (economy lifestyle), KoolKost (extended-stay community living) and Sunerra Hotels (midscale hotel segment). The company also created ancillary revenue streams to meet the changing demands of travellers. This puts the company at the forefront for recovery in 2022, as it approaches the end of 2021 on a high, thanks to its timely measures taken during the global pandemic, against the backdrop of a resilient and robust Southeast Asia domestic travel market.
Figure 1: RedDoorz’s occupancy rates exceed industry during the pandemic.
According to the recent e-Conomy SEA 2021 report by Google, Temasek, Bain & Company, international travel recovery greatly depends on global vaccination rates and cross-border travel restrictions. Amidst the dismal state of international travel, domestic tourism is the backbone of the travel industry today as locals book staycations and short trips within their own borders. Additionally, online travel is forecasted to grow by 36 per cent in 2025 with almost double the online hotel bookings in 2021. Rapid rebound will be driven by pent-up demand once travel restrictions ease as evidenced at the 700 per cent spike in search trends for Germany on the day Singapore announced the Vaccinated Travel Lane (VTL) with Germany.
Figure 2: Indonesia and RedDoorz similar upwards trend in travel demand from August to September 2021. Source: RedDoorz Internal Data, Google Travel Trends Analysis
On the back of the resurging tourism, RedDoorz has also observed domestic travel pick up in places such as Jakarta and Bandung. In August to September 2021 alone, Indonesia saw a 40 per cent year-on-year spike in demand for domestic tourism. RedDoorz intends to tap on the incredible Total Available Market (TAM) in Southeast Asia by capitalising on their proprietary technology that emphasises convenience and availability.
To further expound on its growth trajectory, RedDoorz has plans to further expand its presence in the region into Thailand in the year to come. The expansion plans are a mark of confidence that RedDoorz has towards the strong recovery of the domestic tourism sector in Southeast Asia. With over 2,900 properties in more than 200 cities across four markets, RedDoorz has barely scratched the tip of the estimated $32 billion accommodation market in Southeast Asia according to Google travel search trends.
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 affordable, reliable stays in all major cities and destinations across the region, RedDoorz is disrupting the hospitality industry by transforming the fragmented supply inventory into branded, standardized accommodations and leveraging its strong technology platform to drive consumer demand. The firm”s new multi-brand approach is aimed to cater to the different needs of travellers, be it RedDoorz Budget (economy budget), SANS Hotels (economy lifestyle), KoolKost (extended-stay community living) and Sunerra Hotels (midscale hotel segment).
Founded in 2015, the company has grown into a regional powerhouse with operations in Indonesia, Singapore, the Philippines and Vietnam. RedDoorz is transforming how people travel and live in Southeast Asia by providing an ecosystem of accommodation products backed by distinct brands, world-class technology and local operations expertise.
For more information, please visit www.reddoorz.com.
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