This collaboration will see OR expanding its reach into the travel sector, as well as strengthen their lifestyle business.
Singapore – Traveloka, a travel and lifestyle platform in Southeast Asia, announced that PTT Oil and Retail Business Public Company Limited (“OR”) will invest in Traveloka, through its subsidiary, PTTOR International Holdings (Singapore) Pte. Ltd. (“SGHoldCo”). This is a major step for OR to expand into the travel sector and strive to become a one-stop solution for all lifestyles.
Miss Jiraphon Kawswat, President and Chief Executive Officer of OR hosted a signing ceremony of the Collaboration Agreement between OR and Traveloka on 26 July 2022, where Mr. Ferry Unardi, Co-Founder and CEO of Traveloka was also present.
According to Miss Kawswat, the travel sector is an area of focus for OR, as tourism is one of the major economic contributors to the Thai economy. The tourism sector employs a large portion of the Thai population and many Thai SMEs are also reliant on this segment. The travel sector in Thailand and Southeast Asia has enjoyed high growth rates, prior to the COVID-19 pandemic and is expected to rebound quickly following the easing of travel restrictions, and the recovery in travel demand. Collaborations between OR and Traveloka will provide additional lifestyle solutions to OR customers in line with OR’s strategy to become a one-stop solution for all lifestyles. This collaboration will also provide growth opportunities to both OR and Traveloka, in domestic and international markets in accordance with OR’s strategy to focus on Outside-In Growth, as both OR and Traveloka seek new investment opportunities together with partners, to provide more solutions to address customers’ needs. In addition, this will also create new opportunities for Thai SMEs and Thai individuals in the travel sector to grow together with OR.
“OR foresees many opportunities and possibilities that we can realize from this collaboration. Not only can this partnership provide new opportunities to OR in the travel sector, it can also provide additional venues for OR’s existing partners and business alliances to grow together with OR and to deliver greater offerings and experiences to OR customers. Given Traveloka’s position as a leading online platform for travel and lifestyle services in Southeast Asia, as well as its strong technology capabilities, I believe there is a range of areas OR can explore together with Traveloka, to further enhance our tech capabilities”, said Miss Kawswat.
This collaboration is also a positive step in furthering Traveloka’s mission of fulfilling the aspirations of its users and allowing its merchant-partners to thrive. “We see immense value from the collaboration as we see the region growing at a rapid pace, leading to greater opportunities in the industry. We are excited to work with OR, with its expertise in creating great businesses with a customer-focused approach, to capture the demand and provide enhanced solutions to our customers, while also creating new opportunities for our merchant-partners in Thailand and the region”, Mr. Unardi says.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.