Mad Monkey, leader South East AsiaThe hostel operator and provider of high-octane, sustainable travel experiences, has closed its first major fundraising round with EXS Property Innovation Concepts VCC (“EPIC”), a Singapore– domiciled fund platform sponsored and managed by EXS, a private equity firm specializing in real estate businesses and platforms across Asia.
The company intends to use the funds to accelerate its ambitious expansion through Asiasignificantly expanding its portfolio in the region over the next 3 years, building on the great success of the last decade.
SINGAPORE, March 23, 2022 /PRNewswire/ — The sun is slowly setting over the Cambodian capital. So much has changed in the super-fast developing city in the past 10 years since the Mad Monkey team opened the first hostel in the heart of Phnom Penh. Skyscrapers soar above pagodas, SUVs overtake slower tuk-tuks, cell phones have become the primary means of payment. But some things remain the same – the charm and soul of the whole region, once again inviting young adventurers to explore its colorful streets, dreamy beaches and magical sights, now that the pandemic-hit world has begun to show signs of recovery.
Early evening is a time when the music begins to swell poolside at the Mad Monkey Inns and the party begins slowly. But right now, there’s a different buzz; The Mad Monkey team is working hard to prepare for the rapid reopening of its existing locations, inviting domestic and international travelers to return to its world. Over the past decade, Mad Monkey has achieved iconic status in South East Asia and has opened hostels in 6 countries, offering unforgettable, sustainable and cultural stays immersive travel experiences to an ever-growing segment of young digital nomads and other experience-driven travelers who are hungry to travel, build friendships and experience new cultures.
But reopening appears to be a small task amid a much bigger ambition now turned into an accelerated action plan. The Mad Monkey team is set to open up to 50 hostels in the next 3 years in Asia and Australiacementing their status as the region’s largest player in experiential hospitality.
To help achieve this goal, Mad Monkey has now partnered with EXS, a Singaporeventure-based private equity firm and real estate platforms, through EPIC, which focuses on “new economy real estate” through Asia including co-working, co-living, student accommodation, new hospitality and modern fitness models. EPIC has successfully completed a US$4.6 million investment in Mad Monkey to drive the company’s near-term growth and strengthen its position as South East Asia leading hostel operator.
“Mad Monkey is a major player in South East Asia and a prime example of real estate’s continued evolution toward “new economy” business models that combine real estate, hospitality and technology to deliver unique experiences. The Mad Monkey team has organically built a company rooted in strong values, with social and environmental responsibility at its heart, while remaining aggressive with expansion plans, maintaining profitability and developing a stable team at the course of the last decade. We are proud and excited to enter Mad Monkey’s next phase of growth in the region,” said Eric SolbergCEO of EXS.
EXS plans to bring its expertise in building leading Asian real estate platforms to Mad Monkey. As a specialist private equity firm with a track record of successful investments across South East Asia, EXS is a firm believer in growing trends that are driving new business models in real estate. Through EPIC, EXS plans to play a major role in helping the Mad Monkey team accelerate its growth and capitalize on the rapid return of tourism to the region, creating value for both Mad Monkey’s operations and for the underlying real estate.
Mad Monkey was founded in 2011 by a team of passionate serial entrepreneurs – and, at the time, passionate backpackers – Alex, Steve, Tom and Oliver. Driven by a desire to have a good time while doing good, Mad Monkey was designed to deliver a superior customer experience, rooted in travelers’ passions and ever-changing demands, while empowering local communities, through initiatives with a positive societal and environmental impact. thus immersing travelers in these local cultures in a responsible and sustainable way.
Mad Monkey has always had an ESG focus, delivering 10 years of impactful community projects ranging from clean water initiatives to beach cleanups and educational projects. With the EPIC investment, the team will continue to focus on building local communities while enriching Mad Monkey as a global experience-based hospitality platform.
Additionally, supported during the crisis by EPIC, the team used the Covid downtime to innovate and digitize, building a fully integrated technology platform with its own booking engine, using marketing technology to create intuitive and personalized digital interactions with his client at all stages. of their trip.
“We are excited to transform the way our customers interact with Mad Monkey at all times and provide them with effortless digital journeys, rooted in their preferences and their need to manage their journeys and experiences seamlessly with only their smartphone in their pocket, Steve Vaileexplains the president of Mad Monkey.
In line with digitization efforts, the team is preparing to launch the Mad Monkey Experience mobile app which will further enhance the holistic and culturally immersive experience for travelers and allow them to seamlessly book travel between Mad Monkey hostels, while by planning adventures, trips, and experiences, all in one app.
While providing better experiences for their customers, Mad Monkey’s digital platform will also enable the team to better understand and anticipate travelers’ needs and further improve the real-time feedback loop to ensure agile and immediate adaptations. to the strategy and experience provided.
The pandemic has affected tourism more than any other industry and only businesses that can adapt to trends survive. Mad Monkey’s successful Golden Tickets program allows travelers to book a flexible, risk-free long-term travel plan that they can use whenever they want.
New technologies and new flexible travel models, added to Mad Monkey’s signature community and culture-centric experience, are the recipe for success the team is betting on to satisfy thousands of young travelers, eager to jumping on the plane after a two-year Covid hiatus.
As the business grows, Mad Monkey is also working with EXS and advisors to raise substantial additional funds, both for the continued expansion of the business and for a dedicated real estate vehicle, with the possibility to grow through both leasehold and freehold properties. With EXS and EPIC, Mad Monkey plans to continue to establish its position as one of the leading players in experience-driven hospitality in the region.
About Mad Monkey
Mad Monkey is a leader South East Asiahostel operator, creating meaningful and sustainable travel experiences for travellers. The goal of every Mad Monkey hostel is to provide the best guest experience in the most sustainable way for the benefit of guests, team members and the communities where we are located. More than just accommodation, Mad Monkey is the home base away from home for travelers seeking immersive cultural experiences, adventure, travel, educational activities, events and meeting like-minded people. same ideas, and forming communities.
Learn more about Mad Monkey: https://madmonkeyhostels.com/
Founded in 2007, EXS is an independent investment and fund management firm with offices in hong kong & Singapore and dedicated to Asia Pacific Region. EXS and its team are authorized and registered with the Hong Kong Securities and Futures Commission, the Hong Kong Estate Agents Authority, the Monetary Authority of Singaporeas well as the Cayman Islands Monetary Authority.
EXS partners with expert management teams across Asia with the aim of building market leaders with high valuation. EXS’ highly differentiated counter-cyclical approach allows for closer long-term partnerships with management teams, longer-term multi-stage investments, and ultimately higher expected returns. Since its inception, the team has led more than 1 billion US dollars successful private investments for institutions, family offices and wealthy investors. To date, all of EXS Capital’s transactions have been highly profitable for investors and management.
For more information, please visit the EXS website at www.exs.com.
EXS-SOURCE; Mad Monkey Hostels