Robinhood launches hotel reservation service
Thana Thienachariya, chairman of Purple Ventures, left, and Srihanath Lamsam, managing director of Purple Ventures.
Robinhood Travel, a Thai online travel agent platform, has launched the first phase of its hotel booking service, aiming to become a top three player within the first year of operation.
“Around 16,000 hotels ranging from three to five star hotels have already joined the platform as we expect to list 30,000 operators this year and gain 200,000 active customers with transactions for 300,000 trips,” said Srihanath Lamsam, Director CEO of Purple Ventures.
Purple Ventures is a subsidiary of Siam Commercial Bank and the operator of Robinhood, the food delivery platform which currently has over 2.8 million users.
Robinhood Travel is also rolling out a zero gross profit policy and every booking will receive a free food delivery service.
Following the soft launch this month, the travel platform plans to introduce tour packages and activities as well as a car rental service in June, followed by domestic flights in July.
Mr. Srihanath said Robinhood Travel aims to become one of the top three online travel platforms within the first year of operation.
Thana Thienachariya, president of Purple Ventures, said existing local customers in the upper urban segment who still have spending power are the key target to boost domestic tourism this year.
According to Robinhood Customer Base 2022, 49% belonged to the segment with a monthly income of at least 30,000 baht, of which 29% were wealthy group and 20% were upper middle group.
Besides domestic tourism, the country still needs international arrivals to meet the tourism supply.
“Thailand is heavily dependent on the export and tourism sectors. While exports have picked up, tourism cannot stay afloat. Getting things back to normal is important to increase competitiveness,” said Mr. Thana.
He said the normal situation means there should be fewer travel restrictions by ditching the Thailand Pass and giving up masks when outdoors.
He said the platform will also develop services for outbound tourism to destinations like Japan, South Korea and Singapore over the next 1-2 years.
In a bid to make Robinhood a great app, the online grocery store will be in place by July.
Express delivery and ride-sharing services are expected to be ready to launch in the third and last quarters of this year, respectively.
Mr Thana said the food delivery service remains a loss leader, but this strategy can help build a customer base that will help the travel platform break even.
However, other services such as markets, parcel delivery, public transport, lending and advertising should help generate profits in the next stage.