As novel coronavirus pandemic prompted worldwide restrictions on social and economic activities throughout 2020, many businesses were hit, including the tourism, travel, and hospitality industry. Yet, RedDoorz managed to make a difference and doubled its revenue across its markets in Southeast Asia last year.
Founded in 2015, the online hotel management and booking platform offer two things: a comfortable stay at an affordable price. Technology also plays an important role, as the company continuously updates mobile applications and digital channels to grab customers. Starting its operation in Indonesia, RedDoorz has also operated in Singapore, the Philippines, and Vietnam. Amit Saberwal, founder & chief executive officer of RedDoorz, says the ability to quickly adapt to the constantly-changing situation and cost efficiency are among factors contributing to revenue growth last year.
Everything was on the upswing, and then all of a sudden, we have to break, recalibrate, and completely change the business plan, he says. It is like survive or perish. That's the kind of story for us.
In the early days of the virus outbreak, the company decided to change its business scheme from buyouts to revenue sharing with its hotel partners. Luckily, the partners were on board with the plan, so when the pandemic reached its peak in Indonesia, RedDoorz has sorted out the new contract system. As demand was slowing down, the company has no options but to offer discount rates for its hotel rooms.
However, these discounts were only applicable to a certain length, so the company must simultaneously slash its costs. We took decisive actions very quickly, and we took our partners and employees along with those decisions, Amit recalls.
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