RedDoorz is Southeast Asia’s largest and fastest growing new-age hospitality company, primarily offering affordable stays to its end consumers and accommodation management solutions to its hotel owners in a revenue-sharing arrangement. The Company operates the largest network of budget hotels in Southeast Asia under a portfolio of brands, including RedDoorz, Sans, Sunerra, Urbanview, KoolKost, and RedPartners. RedDoors Headquartered in Singapore, RedDoorz’s primary markets are Indonesia and Philippines, with a presence in Vietnam and Singapore.
We saw an opportunity for a huge addressable market of unbranded hotels in SEA, at 3x the market size of that in India. We believe that RedDoorz provides a lucrative business model with great unit economics, with the ability to generate 15-25% net take rates. Additionally, it was already a pan-regional business at the time with strong growth momentum at >4x YoY NBV growth, propelled by an experienced management team, with a stellar track record of execution capability.