Indonesia-owned Northcliff, a private equity company based in Singapore, has acquired RoomToday — a tech start up company based in Washington, DC, USA. Northcliff Capital Pte Ltd, with its local partner PT Simasindo, now owns 100 percent of RoomToday. Details of the financial transaction have not been disclosed.
Erry Sulistio, Chief Executive Officer (CEO) of Northcliff, states this tech venture is a strong asset portfolio for the company. “Indonesia’s hospitality sector has been growing and remains 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,” says Erry.
Northcliff’s passion and focus remains on private equity, the company will align its strategy and values with its investments in hotels and property. The investment in a tech company is a good addition to the company’s portfolio because of its potential in the next five years.
Northcliff’s Chief Financial Officer (CFO) Fernando Castillo IV says that RoomToday will tap into Indonesia’s large middle class market and initially in 12 major cities in Indonesia.
“We expect a growing demand for last minute value deal which RoomToday offers. Currently, Indonesia has available 72,000 rooms and a projected addition of 21,960 rooms (source: Indonesia Hotel Watch 2016),” Castillo states.
RoomToday is an online hotel booking system which was formed in 2015 This hotel booking application enables customers to do last minute hotel booking at the best and guaranteed cheapest rates.
RoomToday, with its tagline Last Minute Hotel Deals will offer hassle-free booking for price-conscious travellers and customers who are tech-savvy, highly mobile, and in need of hotel rooms without having to worry of dealing with an advance reservation system. 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.
RoomToday will be launched this year as a better solution for travelers’ needs. RoomToday is a mobileapplication that provides room hotel booking services. It can be accessed via www.roomtoday.asia via mobile devices such as android and IOS. (*)
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