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The company said its expansion plan will allow it to become Singapore’s second-largest hotel chain. Image: RedDoorz CEO Amit Saberwal
RedDoorz will enlarge its portfolio of 18 budget hotels in Singapore to 29 by 2020’s end, reported The Business Times.
The company said its expansion plan will allow it to become Singapore’s second-largest hotel chain.
The hotel booking and management platform operates both lease and franchise models for its hotels in the country. Under this model, the company manages the daily operations of the establishments, which proves helpful for property owners not wanting to run hotels as part of their core business or preferring to be more hands-off.
“RedDoorz has built-up strong brand awareness and loyalty across all of the markets we operate in. Indonesia in particular, is our strongest market given its robust domestic travel ecosystem, whereas Singapore is generally considered a premium travel destination,” said Amit Saberwal, RedDoorz founder and CEO.
“Through our efforts in making standardised affordable accommodation more easily and readily available, we aim to encourage more travellers to visit Singapore, whether for work or for leisure.”
The hospitality start-up had its first close of $70 million (S$96 million) in 2019 as part of its larger Series C round.
It now operates a network of over 1,500 properties in Singapore, the Philippines, Indonesia and Vietnam.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg
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