Expedia invests in Indonesia’s Traveloka

INDONESIAN online travel company Traveloka Holding Ltd. on Monday said it raised $500 million in investments from several companies, including US-based Expedia, Inc. within the last year.

In a statement, Traveloka said the company raised the funds from Expedia, East Ventures, Hillhouse Capital Group, JD.com and Sequoia Capital within the last two funding rounds.

The Jakarta-based Traveloka expects Expedia’s minority equity investment to deepen the partnership in hotel supply between the two firms.

“Partnering with the world’s leading online travel company will allow us to focus on our continued growth in the online travel space to meet our goal of providing travelers the best travel options and highest quality booking experience,” Ferry Unardi, Traveloka cofounder and CEO, was quoted as saying in a statement.

“The expanded partnership gives Traveloka travelers access to a unique and diverse set of international accommodations and we are looking forward to working with Expedia to expand our services in Asia and beyond,” he added.

Expedia’s investment in Traveloka is seen as a vote of confidence in the growing Asia-Pacific travel sector, which is expected to boom in the next few years.

Traveloka offers a wide-range of travel products, having established partnerships with airlines. It also boasts of the largest direct accommodation inventory in Southeast Asia, which includes hotels, guest houses and homestays.