ONDA Reports Q1 2024 Results: Growth Across Room Distribution and Hotel Tech

ONDA Reports Q1 2024 Results: Growth Across Room Distribution and Hotel Tech

- Q1 2024 GMV reaches ₩48.4B — up 36% YoY

- Revenue up 35%, operating loss down 33% over the same period

- Both online room distribution and hotel solution businesses show strong growth

- Company expects to hit monthly breakeven this summer

(Press Release — April 17, 2024) Hospitality tech company ONDA posted significant performance improvements in Q1 2024.

On the 17th, ONDA (CEO Oh Hyun-seok) announced that its Q1 2024 gross merchandise value (GMV) reached ₩48.4 billion based on internal financials — a 36% increase from ₩35.6 billion in Q1 2023. Revenue grew 35% over the same period, while operating losses shrank by 33%.

The Q1 performance was driven primarily by the growth of Pension Plus and Hotel Plus — ONDA's room distribution services that handle an average of 4,000 properties daily. Hotel Plus in particular saw roughly 200% year-over-year growth, cementing ONDA's position in the hotel market.

The core advantage of both services: accommodation providers sign a single contract and can sell across 50+ channels — domestic and international OTAs, e-commerce platforms, portals — without double-booking issues.

Beyond room distribution, ONDA's solution business also posted meaningful results. This includes DIVE, a PMS (property management system) for large hotels, and OaPMS, a PMS for small and midsize properties.

ONDA has invested aggressively in hotel and resort room distribution and solution development since 2022. The company says the payoff started showing in the second half of last year, and it expects even faster growth ahead.

"The fact that we improved profitability during Q1 — traditionally the low season for travel — is highly significant," said CEO Oh Hyun-seok. "We'll hit breakeven this summer and prove that we can grow and improve margins at the same time."

ONDA is a hospitality tech and data company covering 60–70% of Korea's online room transaction market. It's built strong partnerships with global tech giants, becoming Korea's first Airbnb Premier Partner and Google Hotel's first Korean partner.

The company was also named to Skift's Global PMS Vendor ranking at #34 — the first Korean company to make the list — positioning itself as a leader in the global hotel tech space. Last year, it was selected for Korea's Ministry of SMEs and Startups' Baby Unicorn Plus program, and it's been named to the Financial Times' High-Growth Companies Asia-Pacific list three years running (2022–2024). <End>