H2O Hospitality named to Forbes Asia’s 100 to Watch

H2O Hospitality, a leader in digital transformation (DT) for the hotel industry, announced on the 10th that it had been named to Forbes Asia’s “2021 Forbes Asia 100 To Watch.”

Forbes Asia’s “100 To Watch” recognizes small and midsize businesses and startups across Asia that are poised to drive economic growth after the pandemic. The list was launched this year. More than 900 Asian companies applied for the inaugural list, and a panel of experts selected 100 companies with strong growth potential after a comprehensive review. Four South Korean companies made the list, including H2O Hospitality.

Forbes Asia selected companies with innovative businesses grounded in entrepreneurship, evaluating the stability of their business models, revenue growth records, and impact on the development of their regions and industries.

H2O Hospitality said it believes Forbes Asia selected the company for the Food & Hospitality category of “100 To Watch” in recognition of the growth potential of its hotel-industry digital transformation business, as well as the technology behind its proprietary hotel management system and the value of its operational expertise.

H2O Hospitality uses an ICT-based hotel management system to automate labor-intensive operations, improve efficiency, and cut fixed operating costs by up to 50%. As the pandemic has accelerated the hospitality industry’s shift toward contactless and unmanned operations, demand for H2O Hospitality’s system has grown. The company has expanded rapidly since the pandemic began and, as of March this year, operated approximately 7,500 rooms in South Korea, Japan, Thailand, and other markets.

“H2O Hospitality is changing the paradigm of hotel operations,” said H2O Hospitality CEO Woonghee Lee. “We plan to lead the digital transformation of the global hotel industry by expanding our business worldwide, including across Asia.”

H2O Hospitality was previously named a top global leader by the Korea Tourism Organization in 2020. CEO Woonghee Lee has also been recognized for his entrepreneurial spirit and influence, earning a place on Forbes’ “30 Under 30 Asia” list in 2019 and 2018.