Secret Escapes, the UK-based site for discounted luxury travel, has taken the next step in its global expansion strategy with its launch into four Asian markets: Singapore, Hong Kong, Malaysia and Indonesia.
The Asian growth follows a US$60 million investment in 2015, led by Google Ventures and Octopus Ventures, and marks the company’s first foray into Asia.
In the last 12 months, Secret Escapes has started operating in the Netherlands, Belgium, Spain and Italy, and the company said it is planning more openings later in 2016, including further growth in North America.
“Asia has, for a while, been the next big frontier for us and we’re excited to be entering into Singapore, Hong Kong, Malaysia and Indonesia. Last year’s US$60m cash injection is helping us to realise our ambition to become a truly global brand, enabling us to open up opportunities in Asia, continue our expansion throughout Europe and capitalise on our good start in the US,” said Alex Saint, chief executive of Secret Escapes.
“We want to be the number one destination for customers looking to book affordable luxury holidays, and it seems pretty clear to us that there is a strong desire for our kind of product in Asia. With this launch, we’ll reach a new set of Secret Escapers, develop new relationships with hotels and expand our range of deals in Asia for our existing members. There are still a few territories in Europe that are untapped, so we’ll be strategically assessing opportunities closer to home too.”
Since launching in 2011, Secret Escapes has reported an average year-on-year growth of 230% and secured more than US$650m in total revenues. Its membership base has also expanded significantly, from four million in January 2014 to more than 28m worldwide. It has now sold in excess of 3.6m room nights across the world.
Secret Escapes members are offered exclusive deals on luxury hotels and holidays at discounts of up to 70%.