RedDoorz Targets 4,500 End Of 2024 Property

CEO Of RedDoorz, Amit Saberwal/ Photo: IST

RedDoorz targets maximum achievement by the end of 2024 with an expansion plan of up to 4,500 properties throughout its operating area. Indonesia is the largest market and is projected to account for 85% of this growth.

RedDoorz founder and CEO Amit Saberwal said the company had reached positive cash-flow in the second quarter of 2024, placing it on track to achieve profitability throughout the year.

According to him, RedDoorz's main focus at this time is to develop business organically and inorganically, with significant expansions in Indonesia and the Philippines.

In Indonesia, RedDoorz targets Bali as a growth center, through their premium brand, The Lavana, with plans to double the number of villa partners to 100 by the end of the year.

"We are very focused on achieving profitability this year, driven by the dedication of our team and a strong strategic approach. The market potential in Indonesia and the Philippines is still very large, and we see a wide growth space with our multi-brand strategy. Bali, in particular, will be our main focus in Indonesia," said Saberwal in his statement, Sunday, August 25.

To achieve this highest target, RedDoorz relies on advanced technologies such as artificial intelligence (AI) in pricing and operational management.

Meanwhile, Mohit Gandas, Country Director of RedDoorz Indonesia, added that the increase in the number of properties in Indonesia is key.

He acknowledged that post-pandemic recovery for the budget hotel segment was slower than for three to five-star hotels, but RedDoorz took advantage of this opportunity to help property owners optimize revenue through AI-based dynamic pricing technology.

"RedDoorz provides the technology and human resources that partners need to manage their properties more efficiently and bring in revenue through various sales channels," he said. (*)