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Jakarta Post

Hotel startups raise more funds as competition among budget hotels heats up

  • Norman Harsono

    The Jakarta Post

PREMIUM
Jakarta   /   Wed, August 21, 2019   /  03:30 pm
The Jakarta Post Image
Hotel management group Archipelago International inaugurated Harper Wahid Hasyim Medan, its third hotel in Medan, North Sumatra, on July 22.(Instagram/File/harperwahidhasyim)

Following its launch in Indonesia in October of last year, India-based hotel management startup OYO has claimed it is outpacing Singapore-based rivals RedDoorz and ZEN Rooms, which have been operating for four years, en route to becoming the largest, matured foreign startup of its kind in the country. As of June, OYO said it had managed 23,000 rooms, much more than the 1,600 rooms managed by ZEN Rooms. RedDoorz declined to reveal the number of rooms it currently manages, though it did announce in late February that it had managed 17,000 rooms. Assuming there was consistent monthly growth of 414 additional rooms each month since entering Indonesia in October 2015, it is projected that RedDoorz would have managed about 18,600 rooms as of June. OYO country manager Rishabh Gupta said the startup focused this year’s first half on “reach”, which meant putting at leas...