The award-winning online booking platform Dutch startup, Bidroom.com, secured substantial investment from Egyptian businessman Samih Sawiris, founder of the Orascom Development Group, a conglomerate of companies operating in many different areas, like tourism and hospitality, but with a primary business focus on developing, constructing and managing whole tourist destinations.
Orascom Development Group also owns the RT / Raiffeisen Touristik Group, a group of more than 7,000 travel agencies which are affiliated to RT / Raiffeisen Touristik Group GmbH as their own, franchise or cooperation travel agencies.
This deal comes right after an investment round, which was closed in July, and included funds from a few medium sized hotel chains from the Netherlands and Switzerland, who strongly believe in the growth opportunities of Bidroom.
Based on the agreement, Bidroom.com received a substantial, though undisclosed, investment, which will help fund the continued expansion of Bidroom into new and existing markets. Up-scaling of domestic sales and marketing activities is part of that strategy. The funding will also be used to enhance the company’s customer segmentation and data analytics capabilities, as well as the development of our unique technology.
This investment recognizes the value proposition that Bidroom.com has. In the past months, Bidroom’s market share grew in a few major European countries. Since the launch at the end of 2016, Bidroom has seen exponential growth figures and is set to become one of the largest innovations, as well as the biggest threats to the current duopolistic OTA market, which we have been experiencing in the last few years.
Commenting on the investment, Samih Sawiris said: “We are proud to support the innovative and entrepreneurial founding team in their efforts of building a leading brand in Europe. The next phase of development will be an exciting time for Bidroom.”
Add to Favorites