Global hospitality tech company H2O Hospitality (hereinafter H2O) announced on the 22nd that it has signed an 'Investment Support Project' contract with the Abu Dhabi Investment Office (hereinafter ADIO) to support H2O's local entry and make necessary investments for business operations.
ADIO decided to actively support H2O's entry into the Middle East, recognizing that H2O can elevate the tourism industry of the United Arab Emirates (UAE) to the next level through digital transformation.
Accordingly, ADIO promised to support various administrative procedures necessary for establishing the Abu Dhabi branch, expand networks including business partners, and make the necessary investments for smooth business operations in Abu Dhabi.
During a harsh winter for startups with frozen domestic and international investments, H2O gained significant momentum for its Middle East expansion by securing additional investment commitments from ADIO.
H2O plans to actively contribute to the development of the UAE’s tourism industry, especially in the capital Abu Dhabi, by implementing various programs that help enhance Abu Dhabi’s economic and social influence in the global market and create local jobs.
The investment support project contract ceremony was held at the Abu Dhabi Investment Office, attended by ADIO Secretary General Badr Al-Olama and H2O CEO Lee Woong-hee.
Secretary General Badr Al-Olama stated, “Korea and the UAE are globally recognized as countries driving innovation and are excellent partners moving toward a technology-centered future together. We hope that leveraging ADIO’s support, H2O will positively impact the Middle Eastern hospitality industry and help the UAE solidify its position as a smart tourist destination.”
CEO Lee Woong-hee expressed, “Many countries in the Middle East, including the UAE, are turning their attention to tourism as a future industry to replace oil, emerging as a new blue ocean. We aim to contribute to advancing the region’s tourism industry to the next level by applying H2O’s digital transformation solutions to the ultra-luxury hotels and resorts being newly built across the area.”
H2O participated in the Middle East’s largest tourism expo held in Dubai last May and accelerated its entry into the Middle Eastern market by signing a service supply contract in September with the 5-star luxury hotel ‘Grand Millennium Al Wahda’ located in Abu Dhabi.
H2O’s solutions are praised for digitally transforming (DX) the entire hotel operation process, improving efficiency, and securing diverse customer data to enhance customer satisfaction, attracting significant interest from 5-star and above luxury hotels in the Middle East that aim for cutting-edge facilities.
H2O’s room portfolio totals 210,000 rooms across Korea, Japan, and Southeast Asia. It was the first in Asia to integrate its services with the world’s number one hotel management system (PMS), Opera, and has signed a partnership agreement with the global travel platform Agoda. Additionally, it has established DX operation system agreements with leading domestic accommodation companies such as Lotte Hotel, Alpensia Resort, and Parnas Hotel.
Founded in 2015, H2O Hospitality is a tech company leading the digital transformation of lodging and leisure facilities, providing smart check-in and check-out, 100% automated reservations, perfect data processing, and direct sales expansion services for facilities.
Rapidly growing as Asia’s largest digital transformation leader, H2O has expanded its business in 34 major cities including Korea, Japan, Thailand, Vietnam, Singapore, and the UAE. Recognized for its technological capabilities, it was selected as one of Forbes Asia’s 100 companies to watch in 2021. It was the first in Asia to integrate its system with Oracle OPERA and has partnered with the global travel platform Agoda.
H2O’s total accumulated investment amount is approximately 48 billion KRW, with major investors including Kakao Investment, KDB Industrial Bank, and Samsung Venture Investment.
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