Grab steers into travel business with Booking deal, hotel options to go on app

Grab has raised more than US$2 billion for its current round of financing and is set to meet its US$3 billion target soon. — Reuters pic
Grab has raised more than US$2 billion for its current round of financing and is set to meet its US$3 billion target soon. — Reuters pic

, Oct 30 — From early next year, Grab users will be able to make bookings across the globe using the mobile application, after the ride-hailing firm went into a partnership with American travel technology firm Booking Holdings, which owns websites such as Booking.com, Agoda.com, and OpenTable.

The tie-up also means that brands under Booking Holdings will offer on-demand transport services on their apps, powered by Grab.

In a joint statement yesterday, both companies said that 28 million hotel rooms and accommodations worldwide listed on Booking.com and Agoda will be integrated into the Grab app.

Booking Holdings has invested US$200 million (about S$276 million/RM835.9 million) in Grab, which operates in 235 cities across South-east Asia and is headquartered in Singapore.



Mr Ming Maa, president of Grab, said: “The online travel market in South-east Asia is set to nearly triple by 2025 and we see numerous synergies between travel and transportation that will allow us to capitalise on this huge opportunity.”

Grab has raised more than US$2 billion for its current round of financing and is set to meet its US$3 billion target soon.

Earlier this month, Mr Maa said that the firm hopes to raise more than US$3 billion from investors such as SoftBank, Toyota and Microsoft by the end of this year.

Just a week back, Grab, which is valued at US$11 billion, announced its foray into the logistics sector with an experimental courier service offered in parts of eastern Singapore, pitting the firm against other on-demand courier services such as the recently launched RydeSend, Lalamove, GoGoVan and CarPal. The deliveries will mostly be done by GrabFood’s motorcycle fleet.

Three days later on Oct 25, Grab announced a tie-up with Mastercard to issue pre-paid cards targeted at South-east Asian consumers.

The expansion of Grab’s services comes as Indonesian ride-hailing company Go-Jek announced yesterday that it has launched an online recruitment site for drivers in Singapore to “pre-register” their interest to join the platform.

Go-Jek is expected to fill the void left by after it sold its business to Grab in March and exited the South-east Asian market.

Besides Singapore, Go-Jek has plans to expand regionally to the Philippines and Thailand. It entered the market last month with its Go-Viet app.



Go-Jek, which recently raised US$1.5 billion in funding and is backed by Google and tech giant Tencent, first started offering ride-hailing services in Jakarta and later added financial technology services and a range of on-demand services that lets users pay bills, order food and buy movie tickets. —TODAY

Source: The Malay Mail Online





Leave a Reply

Your email address will not be published. Required fields are marked as *

Time limit is exhausted. Please reload CAPTCHA.