Customer-first strategy scales win-win business model with hotels and accommodation providers
ONDA Surpasses ₩100B in GMV for H1 2022 — Already Exceeding Full-Year 2021
- H1 GMV hits ₩107B, revenue doubles YoY
- Revenue mix shifts from pensions to hotels, resorts, and extended-stay properties
- Customer-first strategy scales win-win business model with accommodation providers
(Press Release — August 16, 2022) Hospitality tech company ONDA continued its explosive growth through the first half of 2022.
On August 16, ONDA announced H1 2022 GMV of ₩107 billion — up roughly 100% year-over-year. That figure already surpasses ONDA's full-year 2021 GMV of ₩100 billion.
Revenue nearly doubled alongside GMV growth, reflecting healthy, sustainable expansion, according to the company.
ONDA successfully diversified its revenue base beyond small and mid-sized properties.
In H1 2019, pensions and smaller properties made up the bulk of GMV. By H1 2022, that share fell to 40–50%. Over the same period, hotels and resorts — which represented less than 10% of GMV in 2019 — climbed above 30–35%. High-ARPU properties like private pool villas now account for 10% of GMV.
ONDA also expanded its distribution footprint. The company's GDS (global distribution system) — which pushes inventory to 43 online sales channels — saw 107% GMV growth in H1 2022 YoY.
GMV from global channels like Airbnb, Agoda, HotelsCombined, and Trip.com surged 124.87% YoY. D2C (direct-to-customer) GMV jumped 193%.
ONDA Select — the company's curated inventory channel — grew revenue 7× in H1 2022. Foreign guest payments now make up 20% of ONDA Select transactions, signaling early inbound travel recovery.
ONDA's own extended-stay and hotel operations, launched in pilot last year, are now generating meaningful revenue.
ONDA plans to double down on digital transformation across hospitality. The company will scale SaaS PMS distribution to premium hotels and expand D2C offerings to boost revenue for small and mid-sized properties. Average room rates for ONDA-listed properties rose 16% YoY in H1 2022.
"More top-tier hotels and marquee properties are coming to ONDA as online sales and digital-first management become the norm in hospitality," said CEO Oh Hyun-seok. "We'll keep refining a customer-first business model that works for the entire industry."
ONDA currently covers roughly 70% of Korea's online room inventory market. The company is the first Korean partner for Airbnb Preferred Partner and Google Hotel Ads, with strong ties to global tech platforms.
Recent milestones include selection for Korea's MSS Baby Unicorn program, ranking #7 among Korean tech firms in the Financial Times' 2022 Asia-Pacific High-Growth Companies list, and becoming the first Korean company named to Skift's Global PMS Vendor list (ranked #34). <end>