The Singapore-based budget hotel booking startup platform, REDDOORZ, recently announced its expansion into the Philippines, for which it has invested over US$5 million.
RedDoorz will use the money to grow its footprint to 100 properties across the Philippines over the next 12 months.
The Philippines marks RedDoorz' third market in South-east Asia, after Singapore and Indonesia.
Amit Saberwal, founder and chief of RedDoorz, said: “The Philippines ranks second as the fastest-growing Internet economy in the world, right after Indonesia – with an Internet penetration of 63 percent (67 million users) of approximately 105.7 million Filipinos. We realized that the Philippines held a strong demand for hotel rooms not only for tourists but also for business travelers. We felt that it was timely for us to make the conclusive move to start expanding here."
With its entry into the Philippines, RedDoorz will introduce a new category of properties, RedDoorz Premium. The latter comprises properties that are designed for the budget business traveler, are located close to business districts and offer more amenities than its other two existing categories, RedDoorz and RedDoorz Plus.
In March, RedDoorz announced it has raised its pre-Series B funding of US$11 million from investors including World Bank
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