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Hello reader,
Like a lot of Westerners who now call Southeast Asia home, my first visit to the region was on a backpacking trip in my early 20s.
When deciding where to stay as I traveled across the region back then, I always kept budget in mind. This meant opting for hostels and hotels that were, to put it kindly, lacking in a few areas.
Now that I’m in my 30s, though, you couldn’t pay me to stay in dingy accommodations. Well, it goes to show that for most of us, our tastes thankfully change with age.
Today’s featured story dives into hotel booking platform RedDoorz and its first profitable year. I’ve found one particularly interesting nugget – the firm is adapting its offerings to the changing tastes of its customers. It’s probably a smart move for growth.
Today we look at:
- RedDoorz opening the door to profit
- Nivara scoring US$28 million in funding
- Other newsy highlights such as Microsoft’s Satya Nadella planning a visit to South Korea and Zomato facing an insolvency petition over alleged unpaid dues
Premium summary
RedDoorz no longer in the red
Singapore-based RedDoorz hit a milestone in 2024: its first-ever year of positive adjusted earnings.
How did the hotel booking and management platform do it? The answer is focus, according to co-founder and CEO Amit Saberwal.
- Playing to its strengths: Last year, RedDoorz withdrew from Singapore and Vietnam. The goal was to focus on its operations in Indonesia and the Philippines, where its business model is better suited. It also divested from some of its units.
- Leveling up: The firm is also diversifying its offering by moving beyond budget accommodation and offering upscale choices via specialized brands.
- Waiting strategically: RedDoorz’s IPO plans, which were first announced in 2019, are still up in the air. Saberwal says the company is in “wait and watch mode” until it sees successful IPOs from its peers.
Read more: Focus leads to fortune for RedDoorz in 2024
Nivara in Nirvana with funding
Stop wasting time on fleeting connections
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