Budget accommodation service RedDoorz, owned and operated by Singapore-based technology startup Commeasure, has raised an undisclosed amount of pre-Series A funding led by Jungle Ventures.
Further, the company also announced that Philip Wolf, Founder of travel market research firm PhoCusWright and Ajay Bakaya, Executive Director at Sarovar Hotels & Resorts, have joined the company’s Strategic Advisory Board to help accelerate it’s growth and product success in its segment.
RedDoorz was founded in July 2014 by former Chief Business Officer of MakeMyTrip, Amit Saberwal and Kunwar Asheesh Saxena. It is South East Asia’s asset light budget accommodation brand and service offering for hotels, resorts, inns, service apartments, B&Bs and guesthouses. It provides budget accommodation owners access to expert advice and assistance so as to standardize their offering and directly distribute online via the company’s technology platform.
The South East Asia travel market today has a size of $60.6 billion. Its prominent tourism and business hubs include Thailand, Bali, Singapore, Jakarta, Kuala Lumpur, etc. A lot of times the demand for accommodation far exceeds supply in the region. The market is highly fragmented with low adoption of online distribution technology.
Commenting about the funding, Amit Saberwal, CEO & Founder, RedDoorz said, “The Asia Pacific region is expected to receive 27% of global tourist arrivals by 2020. Travelers are increasingly expecting a personalized stay and hotel owners have to adapt using technology, social media and other innovations to deliver a more customized experience. Today budget accommodations have fragmented and non-uniform experiences that affects the consumer satisfaction which can lead to negative reviews on social media and declining footfalls.”
Hotels which are still offline and have not yet realised the full monetary potential of the segment will be able to move-in and grow in the online segment of the hospitality industry. With the world slowly taking the tech route, it has become imperative for each and every brand to have an online presence so as to ensure a promising future.