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Daily Markup 1074: RedDoorz leverages AI for growth aims to achieve target of 4,500 properties while staying on the path to profitability
2024.09.16
500 Global Team
Photo credit: Nikkei AsiaHere to stay
- 500-backed hospitality company RedDoorz has set their sights on expanding up to 4,500 properties by the end of 2024 — that’s 1.2-1.5x more than 2023!
- How does the team plan to achieve that? By leveraging AI for pricing, financial management, and guest service systems.
- “We take advantage of the AI-based dynamic pricing strategy to optimize room rates based on demand, season, and market trends, so that property owners’ income can be maximized,” shared Mohit Gandas, Country Director of RedDoorz Indonesia.
- The team also expects to secure more quality property partners for their premium brands such as SANS and URBANVIEW, which have grown 1.3-1.5x compared to the previous year.
- Founder & CEO Amit Saberwal revealed that RedDoorz has reached positive cash-flow in Q2 2024, placing them on track to achieve profitability this year.
- Read the full story here.
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