Portfolio Spotlight: Cocotel
Cocotel is a one-stop solution for hotel reservation needs. The proptech company helps independent hotels and resorts with technology, property management, and digital marketing.
What problem does Cocotel solve?
Cocotel helps independent traditional hotel owners and operators in the Philippines, and soon in Asia Pacific, embrace digitalization innovation through technology and digital marketing. That made us the largest hotel collection in a getaway destination in the Philippines, and we increased 30% revenue on their online business.
What products does Cocotel offer?
We offer branding, digital marketing and technology to traditional hotel owners in the Philippines.
What countries do you currently operate in? What is your market reach?
We currently have a strong presence in the Philippines, and we have the largest collection of independent hotels and resorts, particularly in getaway destinations. We are currently expanding in Malaysia, Vietnam, and Australia. Our market reach averages 1.2 million unique travelers looking for lodging in destinations.
What is the current market for Cocotel and what is the market potential?
It’s a huge opportunity, as we all know; in the Philippines alone, the tourism industry or tourism economy is 12% of our GDP, and it's around a $45 billion market size. If we expand and tap the market in Asia Pacific, it's expected to grow to around $900 billion by 2026. As a result, there is a huge opportunity to tap into it and encourage hotels and resorts to go online.
What is Cocotel’s revenue/business model?
We charge 15% per booking in exchange for technological services—software, digital marketing, soft branding, and revenue management.
What is Cocotel’s current traction to date?
We are very happy that we were able to have a $3.5 million lifetime GMV, including the COVID pandemic years, and we are projecting to close $2.5 million in GMV this year alone.
Is Cocotel currently fundraising?
We are raising $3 million on our seed round to support our expansion into different markets and our investments in technology and automation.
Where can our audience learn more about Cocotel?
You can learn about our company and our advocacy by visiting our website, www.cocotel.com.ph.