Yanolja Cloud Pte. Ltd., a leading South Korean travel technology unicorn backed by Softbank and Booking.com today announced their investment in HotelOnline.
Endre Opdal, HotelOnline Founder and CEO: This is a game-changing moment for HotelOnline. With our operations back in break-even after the Covid crisis, this investment puts us in a unique position to scale and expand aggressively, strengthen our position in current markets, and expand our operations into more target countries.
HotelOnline, established in 2014, is a leading e-commerce and digital marketing enabler for hotels in Africa, and a driving force in the digital transformation of the hospitality industry on the continent. The company has helped more than 5,000 hotels in 27 African countries increase their revenue through a combination of digital marketing, distribution, and simple digitization of core operations.
Tore Hofstad, HotelOnline Chairman: We are very pleased to welcome Yanolja as a key investor in HotelOnline. We greatly appreciate this vote of confidence in our business strategy, and we look forward to scaling HotelOnline into a market leader in the hospitality industry in Africa.
Håvar Bauck, HotelOnline Founder: Today is a great day, not just for Yanolja and HotelOnline, but for the entire travel and hospitality industry in Africa. As travel rebounds, we are in a strong position to help our hotel partners capitalize on the recovery, by attracting more local and international travelers, increasing occupancy, and getting more revenue.
Based on the synergies from the strategic partnership between the two companies, and the growing potential of the African hospitality market, Yanolja Cloud decided to invest in HotelOnline to accelerate its global solution business for spaces in Africa.
Jongyoon Kim, CEO of Yanolja Cloud “We decided this investment, considering the synergy of two companies proved from the previous partnership with HotelOnline, the African hospitality leading company. As an AI-based SaaS (Space as a service) company that offers the solutions for the spaces, we won’t stop cooperating for the digital transformation of African space(spatial) business including hospitality through marketing-leading AI and cloud technology.”
Yanolja Cloud develops various space-customized solutions for accommodation, F&B, and residences through industry-leading AI and cloud technology. With SaaS solutions that are easier to install and operate than on-premise software, Yanolja Cloud aims to lead the digitalization of spaces and global data distribution. As a top cloud-based global solution provider, Yanolja Cloud offers B2B solutions to more than 43,000 clients in more than 60 languages in 170 markets over the globe. Through its cloud ecosystem, Yanolja Cloud aims to expand its global digital transformation of spaces, such as residences beyond accommodations.
As an AI-based global SaaS (Space as a service) company, Yanolja Cloud leads the digitalization of the industry of various spaces such as accommodations, residences, leisure, and global data distribution. In particular, Yanolja Cloud is the global top cloud-based hospitality solution provider offering B2B operation solutions for approximately 43,000 clients in 170 markets in more than 60 different languages. With its Y FLUX, a fully automated hotel management solution, Yanolja Cloud plans to drive the digital transformation of hotels, leisure, and residential spaces while establishing a cloud solution ecosystem that satisfies the needs of partners, booking channels, and customers. Yanolja Cloud expands its client base by leveraging its powerful SaaS (Software as a service) model, enabling efficient installation and operation, and is developing optimized local solutions through partnership with global leaders.
Press release from Yanolja (in Korean)