Online budget hotel platform RedDoorz has announced its entry into the Philippines, becoming its third market in Southeast Asia.
It plans to invest about US$5 million to fund the expansion with a target of adding 100 properties across the Philippines over the next 12 months.
It currently has about 500 budget hotels on the RedDoorz platform in 16 Indonesian cities and Singapore.
"Our expansion into the Philippines came as a natural progression for RedDoorz, like our first market in Indonesia showed many similarities and thus the potential for a vibrant domestic travel and hospitality industry," said founder and CEO, Amit Saberwal.
Suporting entry into this new market RedDoorz is also introducing a new category of hotels called RedDoorz Premium, which will target the budget conscious business traveller.
It becomes the third category after RedDoorz and RedDoorz Plus.
"This introduction of Premium properties came with our observation of how the Filipino concept of a ‘condotel’ had seen a remarkable growth in the Philippines over the past decade. We felt that by adding this new category, we could create a distinction of rooms in the market," said RedDoorz COO Rishabh Singhi.
