– ONDA H1 2022 GMV reached $81 millionalready doubling its 2021 GMV
– Successfully diversify the revenue streams of hotels, resorts and residences
– ONDA has South Korea largest hotel and travel accommodation distribution network.
Seoul, South Korea, September 13, 2022 /PRNewswire/ — ONDA, South Korea Hospitality Tech announces breakthrough growth for the first half of 2022. ONDA manages South Korea the largest network of hotels and travel accommodations with over 42 online booking partners.
ONDA’s GMV (Gross Merchandise Value) increased by 100% year-on-year to $81 million in the first half of 2022. The number already exceeds the total GMV of last year ($76 million).
ONDA explained that its revenues have doubled compared to 2021, alongside a rapid increase in GMV. Both signs point to healthy momentum for this hospitality tech startup.
ONDA’s growth has been made possible by diversifying revenue streams and reducing reliance on small and medium-sized travel accommodations.
For example, the percentage of sales of small and medium-sized accommodations such as vacation rentals, which made up the bulk of ONDA’s GMV in the first half of 2019, fell to between 40% and 50% in the first half of 2022. During this period, ONDA was able to increase its hotel and resort sales from less than 10% of GMV in the first half of 2019 to around 30% to 35% in the first half of 2022. This recovery is accompanied by an increase in luxury hosting revenue with its high ARPU (average revenue per user), which accounted for 10% of GMV.
Another important step in 2022 for ONDA was the expansion of its online sales partners. The GDS (Global Distribution System), ONDA’s main source of income, is a B2B platform that distributes hotel and travel accommodation to 42 national and foreign channels. It recorded 107% year-on-year growth in the first half of 2022.
During the same period, ONDA’s GMV through its global channels such as Airbnb, Agoda, HotelsCombined and Trip.com increased by 124.87% year-over-year. ONDA’s D2C (Direct to Customer) business, which directly connects travelers and accommodation providers, also increased its GMV by 193% year-over-year.
ONDA Select, a service offering a curated selection of accommodations, increased GMV sevenfold in the first half of 2022. Notably, overseas user transactions increased by 20%, proving increased demand for inbound travel and signaling the reopening of the market travel korean. .
ONDA also plans to directly operate residences and hotels and generate substantial revenue this year, following successful trial operations in 2021.
ONDA will continue to focus its efforts on the digital transformation of the hospitality industry. It plans to increase its offering of customized SaaS-based PMS (Property Management System) for high-end hotels and expand its D2C business to promote the small and medium-sized accommodation industry. In fact, ONDA’s average customer transaction per registered room increased by 16% year-on-year in the first half of 2022.
“Due to the growing share of online sales in the hospitality industry and the growing trend towards digital-first management, we are seeing an explosion of national hotels and prestigious accommodations seeking to join ONDA. the basis of our customer first policy, ONDA is committed to advancing our mutually beneficial business model in the hospitality industry,” said Oh Hyun-seok, CEO of ONDA.
ONDA is a hotel technology company that analyzes online transaction data and also negotiates the sales of 70% of South Korea accommodation market. It has forged strong partnerships with global technology companies and was selected as the first official partner of Google Hotel in Korea and a preferred partner of Airbnb Software.
ONDA is recognized as a leader in the global hotel technology industry. In 2021, ONDA was selected by Airbnb (becoming its “preferred partner”) and Google Hotels as the first official Korean partners.
Recently, he was selected in “The Baby Unicorn Project” by the Ministry of SMEs and Startups. Also FinancialTimes ranked ONDA 7th among Korean technology companies in its “Asia-Pacific High-Growth Companies 2022” and recently, ONDA was ranked 34th (first among Korean companies) in the “Global PMS Vendor” list selected by Skift, a company American travel research.