Expedia Inc has made a $350 million investment in leading Indonesian OTA Traveloka, as it looks to make gains in the fast growing Southeast Asia market.
It is a strategic investment with the two companies working together on global hotel supply, Expedia said.
With this investment Traveloka has raised about US$500 million in the last year.
Founded in Indonesia, Traveloka has expanded across Southeast Asia recently offering flights, hotels and travel packages across Malaysia, Vietnam, Singapore, Thailand and the Philippines.
"Traveloka is the clear online travel leader in Indonesia, and is expanding aggressively throughout Southeast Asia. Our partnership will benefit from each side’s expertise and local knowledge, and accelerate our mutual growth," Dara Khosrowshahi, Expedia president and CEO, said in a release.
"We are incredibly excited to continue to expand our presence in Asia, to learn from the talented Traveloka team and to unlock a more diverse offering of travel choices.
A deeper relationship with Expedia will give Traveloka’s customer base a lot more travel options beyond Asia, says Ferry Unardi, Traveloka co-founder and CEO.
"The expanded partnership gives Traveloka travelers access to a unique and diverse set of international accommodations and we are looking forward to working with Expedia to expand our services in Asia and beyond," he said.
