Hospitality technology startup company, ONDA has reached a Gross Merchandise Value (GMV) of over $154 million USD ($200 billion KRW) in 2022, a 100 percent increase from 2021. Net sales increased 88 percent year-over-year to $9.2 million USD ($12 billion KRW)
ONDA reported that it sustained its explosive growth last year by focusing on the digital transformation of hotels and resorts in Korea.
Within a year of entering the hotel business in late 2021, ONDA’s share of total hotel transactions surged to 30 percent. Resort transactions more than tripled, as ONDA’s core business successfully expanded from small and medium-sized properties to larger properties such as hotels and resorts.
ONDA’s growth is also supported by strong partnerships with global sales channels such as Google, Trip.com, and Home & Villas by Marriott Bonvoy. ONDA’s core business is its integrated sales system, ‘ONDA HUB’. As the largest global sales network in Korea, it distributes hotels and accommodations through more than 40 domestic and international channels, with over 800,000 transactions processed annually.
In particular, with global OTA (over-the-air) channels like Airbnb and Agoda experiencing a 95 percent year-over-year increase in transactions last year, it is anticipated that there will be further growth in 2023 as international inbound travel resumes.
CEO of ONDA, Hyun-Seok Oh said that the company has seen more international hotels and properties turn to ONDA since it expanded into the global marketplace.
“ONDA will continue to enhance its offerings to support hotels and accommodations in operating efficiently, both in domestic and international markets,” said Oh.
ONDA is a hospitality tech and data company that commands around 70 percent of the domestic online accommodations bookings market. It has built strong partnerships with global big tech companies, including becoming the first Airbnb Preferred Partner and the first Google Hotel partner in Korea.