TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Indonesian-owned Northcliff acquires US startup RoomToday

  • Arif Gunawan Sulistiyono
    Arif Gunawan Sulistiyono

    The Jakarta Post

Jakarta   /   Tue, September 20, 2016   /  01:13 pm
Indonesian-owned Northcliff acquires US startup RoomToday NorthCliff Capital Pte, Ltd chief executive officer Erry Sulistio (left), director Made Arie Wibawa (right) and director Gede Arie Soetedja (second right) talk to delMango and delOne CEO Seminyak Bali Ronny Tome (second left) before a press conference in Jakarta on June 1. (Antara/Audy Alwi)

Indonesian-owned Northcliff Capital Pte, Ltd and its local partner Simasindo have acquired 100 percent of shares of RoomToday, a Washington-based start-up company engaging in online 'last minute' hotel booking.

After the acquisition, the Singapore-based firm will launch the android and iOS-based application RoomToday in Indonesia this year, providing more than 4,000 hotels to middle class travelers in the first year of operation. It is set to expand to Southeast Asia in 2018.

Northcliff chief executive officer (CEO) Erry Sulistio said the tech venture is a strong asset portfolio for the company as Indonesia's hospitality sector has been growing and is attractive for investors. 

“Indonesia's economy is the largest in Southeast Asia, and we expect over 12 million foreign tourists. Local tourists are not even accounted for which is huge on its own," he said in a press statement in Jakarta on Monday, adding that the tech company has great potential in the next five years.

Meanwhile, Northcliff chief financial officer (CFO) Fernando Castillo III said RoomToday will tap into Indonesia's large middle class market and will do so in initially 12 major cities in Indonesia.

“RoomToday has been building relationships with hotels and establishing synergies for our payment systems that are easily accessible with a payment gateway other than credit cards. This is very important for our customers for a greater ease of doing business. These are two strategic aspects of our venture," he added. (ags)

Your premium period will expire in 0 day(s)

close x
Subscribe to get unlimited access Get 50% off now