RedDoorz is a Singapore-based hotel company and hospitality brand that operates in Southeast Asia. The company aggregates existing budget hotels, offers staff training, provides access to digital services, and rebrands the hotels as RedDoorz. It was founded in 2015 and, as of October 2019, it maintains 1,500 properties over 100 cities across Singapore, Indonesia, Vietnam, and the Philippines.

RedDoorz
TypePrivate
IndustryHospitality
Founded2015; 7 years ago (2015) in Jakarta, Indonesia
FoundersAmit Saberwal (CEO)
Asheesh Saxena
Headquarters
Number of locations
1,500[1] (2019)
Area served
Southeast Asia
Websitewww.reddoorz.com

HistoryEdit

RedDoorz was founded in July 2015[2] by Amit Saberwal and Asheesh Saxena in Jakarta, Indonesia.[3] Saberwal (who serves as CEO) and Saxena are former MakeMyTrip executives.[4] RedDoorz was launched as a part of Commeasure, a company founded by Saberwal that produced a platform designed to assist budget hotels with expanding their online presence.[5][6]

In September 2015, the company received an undisclosed amount of funding with backing from Jungle Ventures.[7] It raised further venture funding from 500 Startups in January 2016,[4] accumulating $1.4 million (USD) in what it described as a pre-series A funding round. At that time, the company had a network of 200 properties throughout Indonesia.[2]

In 2017,[3] RedDoorz moved its headquarters to Singapore. In April of that year, it raised $1 million in venture debt from InnoVen Capital.[6] In May 2017, it had over 500 properties in Indonesia and six in Singapore in its portfolio.[8] In March 2018, RedDoorz raised $11 million in funding in a "pre-series B" round led by Susquehanna International Group, the International Finance Corporation, InnoVen Capital, and Jungle Ventures (among others). The funding was designed to facilitate further regional expansion.[9] That month, the company also opened its initial fully-leased and managed hotel location in Singapore.[10] In June 2018, the company announced that it would expand into the Philippines. It also introduced a new property category with RedDoorz Premium, a higher-end version of its existing RedDoorz and RedDoorz Plus categories.[11] By the end of the year, it had 70 properties in the Philippines.[12] It also expanded into Vietnam.[13]

In July 2019, RedDoorz closed a $45 million (USD) series-B funding round led by Qiming Venture Partners with additional investment from Jungle Ventures[3] and the MNC Group.[14] This was quickly followed by a series-C funding round in August 2019 worth $70 million with investment from Rakuten Capital and the Mirae Asset-Naver Asia Growth Fund. The series-C round brought the company's total funding to around $140 million.[15]

RedDoorz opened its first hotel in Singapore in January 2017, followed by the Philippines in January 2018 and Vietnam in July 2018.[16] As of October 2019, the company manages around 1,500 properties in 100 cities in Southeast Asia.[1]

OperationEdit

RedDoorz operates a network of budget hotels under its eponymous brand name in four countries in Southeast Asia: Indonesia, Singapore, the Philippines, and Vietnam.[1] The company primarily aggregates currently existing budget hotels. RedDoorz provides the owners and staff of those hotels with training and lessons in customer service, language, cleaning techniques, and how to use RedDoorz technology.[17] Each RedDoorz hotel also offers similar amenities including free wireless internet access, the ability to book rooms online, and satellite-connected TVs.[2] In addition to its aggregated budget hotels, RedDoorz owns and operates its own collection of properties. It maintains three separate property categories (RedDoorz, RedDoorz Plus, and RedDoorz Premium) with a rising scale of amenities and price points.[10]

ReferencesEdit

  1. ^ a b c Saxena, Aparajita (15 October 2019). "Budget Hotel Company RedDoorz to Add 11 More Hotels in Singapore". Entrepreneur. Retrieved 9 March 2020.
  2. ^ a b c Russell, Jon (15 January 2016). "Budget Hotel Platform RedDoorz Bags $1.4M To Expand Across Southeast Asia". TechCrunch. Retrieved 9 March 2020.
  3. ^ a b c Pradhan, Dipen (29 July 2019). "This Hospitality Startup wants to Become a Mix of Uber & Marriott of Southeast Asia". Entrepreneur. Retrieved 9 March 2020.
  4. ^ a b Singh, Arti (20 January 2016). "500 Startups backs budget hotels platform RedDoorz". VC Circle. Retrieved 9 March 2020.
  5. ^ Russell, Ishita (20 January 2016). "500 Startups invests in budget hotel booking platform RedDoorz". e27. Retrieved 9 March 2020.
  6. ^ a b Tegos, Michael (3 April 2017). "RedDoorz raises $1m in venture debt to grow in the crowded budget hotel space". Tech in Asia. Retrieved 9 March 2020.
  7. ^ "Budget accommodation platform RedDoorz raises undisclosed amount of Series A funding". Economic Times. 30 September 2015. Retrieved 9 March 2020.
  8. ^ Chan, Samuel (9 May 2017). "Accommodation start-ups set to stay". The Straits Times. Retrieved 10 March 2020.
  9. ^ Russell, Jon (5 March 2018). "RedDoorz raises $11M to grow its budget hotel network in Southeast Asia". TechCrunch. Retrieved 10 March 2020.
  10. ^ a b Cheok, Jacquelyn (6 March 2018). "Booking website RedDoorz launches its first fully leased and run hotel". The Business Times. Retrieved 10 March 2020.
  11. ^ Lee, Jamie (20 June 2018). "Singapore budget hotel start-up RedDoorz enters the Philippines, its 3rd South-east Asian market". The Straits Times. Retrieved 10 March 2020.
  12. ^ Tayao-Juego, Annelle (9 December 2018). "RedDoorz opens for business". Philippine Daily Inquirer. Retrieved 10 March 2020.
  13. ^ Keeton-Olsen, Danielle (19 December 2018). "Singapore's RedDoorz Is Building A Standard For Business And Domestic Travel Across Southeast Asia". Forbes. Retrieved 10 March 2020.
  14. ^ Hamdi, Raini (29 July 2019). "Trump Hotels' Indonesian Partner Invests in Budget Hotel Startup RedDoorz". Skift. Retrieved 10 March 2020.
  15. ^ Singh, Manish (18 August 2019). "RedDoorz raises $70M to expand its budget hotel network in Southeast Asia". TechCrunch. Retrieved 10 March 2020.
  16. ^ "Budget hotel manager RedDoorz leverages technology for success". www.edgeprop.sg. Retrieved 2020-08-31.
  17. ^ Gilchrist, Karen (1 February 2018). "Meet the man trying to book your next cheap hotel room in Southeast Asia". CNBC. Retrieved 9 March 2020.

External linksEdit