Funding

Booking Holdings Invests US$200M In Grab - Grab Users Can Soon Book And Pay For Hotels On The App

Singapore’s ride-hailing firm Grab has partnered travel and accommodations e-commerce provider Booking Holdings to broaden and simplify travel solutions for regional and global travelers.

Under this partnership, Booking Holdings’ brands will offer on-demand transport services through their apps, powered by Grab.

Grab customers will also be able to book accommodations across the globe, and seamlessly pay for them with GrabPay.

28 million hotel rooms and accommodations worldwide listed on Booking.com and Agoda will be integrated into the Grab app.

Booking Holdings Invests US$200M In Grab

As part of this partnership, Booking Holdings has invested US$200 million in Grab.

Prior to this, Grab has raised over US$2 billion for its current round of financing, and is on track to raise over US$3 billion by the end of this year.

“Grab has scaled impressively across Southeast Asia over the last few years, establishing itself as a recognised leader in an increasingly competitive space, and we’re excited to partner with them to build even better travel experiences through technology,” said Todd Henrich, SVP and Head of Corporate Development for Booking Holdings.

In addition, this partnership highlights Grab’s commitment to becoming Southeast Asia’s everyday super app, offering ride-hailing, food delivery, parcel delivery, and digital payments to millions in the region.

“We are delighted to work with Booking Holdings to give our users even more everyday services to choose from when they open the Grab app. The online travel market in Southeast 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,” said Ming Maa, president of Grab.

“As a global travel leader, Booking’s investment into Grab is a vote of confidence in our continued ability to execute and expand into different O2O verticals, and roll them out across the 235 cities in which we operate.”

Featured Image Credit: Rappler

 

Subscribe to Vulcan Post Newsletter

Stay updated with our weekly curated news and updates.