Budget hotel chain RedDoorz lands USD70 million for expansion
Singapore based budget hotel platform RedDoorz has scored US$70 million in its latest funding round, and plans to use it to expand in new markets across Asia.
Investors include Singapore PE firm Asia Partners and Japan ecommerce giant Rakuten, which has made big investments in several travel industry segments including tours and activities platform Voyagin.
RedDoorz will also use the funds to open a second tech hub in Vietnam, as well as enhance staff training.
It is the second funding round of the year following US$45 million raised in April.
RedDoorz follows a similar business model to Oyo Hotels & Homes, bringing independent budget hotels under its brand and markets them through revenue sharing.
"Six hundred million people are getting affluent, purely from an opportunity standpoint, it is reaching a scale which can far surpass many of the more better-known markets, in many ways, including India," said CEO and founder Amit Saberwal.
It is targeting 2,000 hotels by the end of this year.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025