Robinhood watches a slice of the travel market

Mr Thana expressed his optimism about the introduction of Robinhood Travel.

Robinhood Travel, a Thai online travel agent platform, aims to gain an 8-10% market share in its first year of operation and reach No.2 in Travel Platforms and restoration in the urban segment over the next 3-5 years.

Thana Thienachariya, president of Purple Ventures, said Robinhood Travel, slated to launch in February next year, will focus on small and medium-sized enterprises (SMEs) as they have been among the hardest hit by the pandemic. in the tourism industry.

Purple Ventures is a subsidiary of Siam Commercial Bank and the operator of the Robinhood platform, which offers food delivery with a zero gross profit (GP) policy for operators.

There are currently around 2,000 hotels nationwide that have already joined during the pre-boarding phase, and the platform aims to have 30,000 hotels by next year.

Robinhood Travel aims to help create 300,000 trips, generating baht 1 billion for the local economy, and save an estimated 200 million baht in commission fees for operators by the end of 2022.

Mr Thana said the zero commission policy will be applied to hotels in Thailand in the future, but the company will collect less than 10% GP on other types of services, such as overseas hotels, airlines, car rentals, or attractions.

In addition to domestic tourism, it plans to offer services to Hong Kong, Singapore, South Korea, Japan, the United States and the United Kingdom for Thai travelers overseas by mid- 2022.

Mr Thana said Robinhood Travel is expected to secure an 8-10% market share or become the number three player by the end of next year, while contributing 10% of all Robinhood revenue, because the global platform aims to earn 700-800 million baht by 2022.

Meanwhile, its food platform is expected to rise to second in the urban segment, along with the travel platform, within the next 3-5 years, after building a strong customer base of 2.4 million. users in Bangkok.

Technology investments next year will cost 300 million baht, with an additional 100 million baht for marketing the travel business. The company will raise Series A funds by mid-2022.

Robinhood is also researching for overseas expansion, particularly in China as it has partners on the mainland.

Mr Thana said the company would like to become a unicorn and regional super app in order to compete with other overseas platforms in the long term.

“We may not win the fight against the big players, but we are a disruptor who could balance the whole market to help SMEs and also initiate discussions between state agencies and operators on the fees. commission to deal with the problem of the sector, “he said.