HotelQuickly Accepts $4.5m Investment from Japan’s GREE
HotelQuickly has accepted an investment of $4.5 million from Gree, a Japanese mobile game site operator who are looking to expand beyond their mobile game sector. HotelQuickly offers last minute hotel room reservations via a mobile app, and are earning a good reputation amongst users.
There has been a recent interest from part of Japanese investors to invest in companies outside of Japan, HotelQuickly is an example of this. Tomas Labouka, the chief executive of the Hong Kong based startup explains why.
“Japanese investors are sprouting out of Japan more and more. They’re looking into Southeast Asia and North Asia,” Mr. Laboutka said during an interview in Tokyo.
The reason why Gree was drawn towards HotelQuickly explains Mr. Laboutka is due to Gree’s already vast experience in developing apps and knowledge of the Japanese Smartphone market. Also HotelQuickly’s rapid growth in the past 12 months has led them to develop partnerships with over 3,000 hotels in 100 destinations in Asia-Pacific. It is only natural that these two would team up with each other to produce large benefits for both parties, including an extra 600 hotels around the whole of Japan in comparison to the 130 that are currently only available in Tokyo.
With the extra capital HotelQuickly is planning on accelerating its product development, marketing and hiring across the continent in order to secure its position as leader in the region.
Recently Mr. Labouka has said how ‘we are thrilled to have Gree and Bill Heinecke among our investors. We can benefit a great deal from both of their experience,’. That is because this past June, Gree released a very similar app to HotelQuickly called Tonight which also specializes in last minute booking. The demand for last minute hotels in Japan is doing nothing but grow, this has been aided by the Japanese government target of 30 million inbound visitors by the year 2030.
Gree, which in May had set up a new $50 million fund for Asian Internet companies has been on the look for new start-ups on different sectors due to users spending less money on Gree’s in-game purchases.