SEOUL -- The cloud solution wing of Yanolja, a leading travel and leisure activity reservation service platform in South Korea, will make a strategic investment in Innkey Infosystems with the conditional acquisition of the India-based service provider of cloud-based hotel management software.
Yanolja Cloud said the investment is aimed at expanding its global Software-as-a-Service (Saas) solution business by combining the technology and know-how of the two companies. Innkey provides a hotel property management system (PMS) solution to the global market.
Yanolja Cloud said it would accelerate digital transformation by establishing a close cooperation system with Innkey to develop solutions specializing in overseas markets and cross-selling strategies for global customers. The company would also introduce a premium hotel-specific solution package and build a new product lineup by combining its cloud channel management system, real-time reservation solution, and untact kiosks with Innkey's PMS.
"We hope this investment will introduce optimized SaaS solutions considering the size and regional characteristics of large global premium hotels as small and medium-sized hotels," Yanolja Cloud's global hotel solutions business head Kim Se-joon said, promising to lead digital transformation with artificial intelligence-based innovative technologies that can meet various needs of customers and operators.
Yanolja Cloud has been created to offer digital transformation by connecting entire hotel operation systems via the cloud while expanding its client base by leveraging Saas technology that enables the efficient installation and operation of hotels. The parent company has expanded its cloud-based hospitality solution business since it secured $1.7 billion from Softbank, a Tokyo-based holding group that runs Vision Fund, the world's largest technology fund, in July 2021.
Yanolja, which provides a super app service for travel including accommodation, leisure, and transportation, aims to build and operate a more advanced global travel platform by enhancing its automated solutions using artificial intelligence and personalized offerings based on big data.
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