KUALA LUMPUR: Golfreserv announced today an investment by Tune Labs, a start-up incubator backed by AirAsia founders Tan Sri Tony Fernandes and Datuk Kamarudin Meranun.
Golfreserv offers golfers a technology-based solution to discover new courses whilst staying connected with their favourite golf clubs and tee times. Ease of use is a key tenet of the platform with no upfront registration fees.
Golf clubs are also offered a leading-edge platform to better manage inventory and optimize revenue through targeted discounts to Golfreserv’s database of golfers during periods of under-capacity.
“We are very excited to be part of the Tune Group family as it offers Golfreserv an exciting opportunity to build off our fast-growing Malaysian operations and expand regionally.
The Tune Group ecosystem offers a unique channel to drive inbound tourists into Golfreserv’s Malaysian partners and an opportunity to build ancillary income streams through tailored travel and accommodation solutions.
Building a business across ASEAN is a non-trivial challenge and a strategic partnership with Tan Sri Tony and the Tune Group elevates exposure of our platform and provides a sizable channel to golfers across the region,” said Prathib Sooria, founder and CEO of Golfreserv.
“Prathib and his team have built a dynamic business and demonstrated impressive growth and traction with Malaysian clubs and golfers. Over a short six month period, Golfreserv has on-boarded almost 80 clubs across Malaysia and built a loyal following with 1,000 golfers booking rounds monthly. We like the segment as it is a discrete, easily identifiable and addressable market with green fees alone accounting for a US$500 million p.a. market in South East Asia. We look forward to extending Golfreserv’s presence across ASEAN and integrating Tune Group’s travel and hospitality assets into the platform in order to develop mutually beneficial ancillary revenue opportunities,” stated Gareth Lim, Co-Managing Partner of Tune Labs.
“The Golfreserv platform also offers considerable value to golf clubs across the region as a leading edge course management system. Golfreserv’s technology enables asset owners the ability to maximize revenue through automated, real-time revenue management and is a quantum leap over traditional course management software and manual processes in use at many clubs. Much like AirAsia’s pricing strategy, tee times are a perishable product and through Golfreserv’s platform, golf courses can now promote activity during low periods with discounted rates and target customers and optimize pricing through robust data analytics,” added Arun Verma, Co-Managing Partner of Tune Labs.
Golfreserv is available at www.golfreserv.com and will expand operations into Thailand and Indonesia from 1Q 2017.