South Korea’s Yanolja to acquire Dailyhotel, its local luxury hotel booking competitor

Yanolja Co., South Korea’s leading operator of accommodation booking sites, will acquire Dailyhotel, the country’s largest luxury hotel and restaurant booking platform, as part of efforts to further diversify its business portfolio to transform into a comprehensive entertainment platform provider.

According to several sources in the accommodation industry on Tuesday, Yanolja recently decided to buy local rival Daily Co., the operator of the Dailyhotel app which offers reservation services for five-star hotels and gourmet restaurants. in the country and abroad. Both parties have agreed not to disclose the value of the deal at this time.

Dailyhotel, launched in 2013, is an online and mobile booking site for around 400,000 hotels in 210 countries, including most of Korea’s major hotels like Hotel Shilla, as well as 4,700 guesthouses and 1,000 fine dining restaurants.

Cumulative downloads of the leading luxury hotel booking app topped 10 million in August last year, with annual hotel booking transactions exceeding 100 billion won ($82.2 million). in 2016. Dailyhotel’s total transactions topped 170 billion won last year after introducing reservation services for restaurants.

With the latest deal, Yanolja is expected to boost booking services for luxury accommodations such as five-star hotels and pool villas, ranging from current motels and guesthouses. It is also one of the main recent transactions that the company has entered into to expand its business portfolio from accommodation to leisure activities and restaurant reservations.

In July last year, Yanolja acquired ZEN Rooms, a leading budget hotel chain based in Southeast Asia. Two months later, he purchased the hotel brand W. Design & Hotels from W. Design Group based in Busan and South Gyeongsang Province. In June, Yanolja purchased Woori Pension, the largest operator of guesthouse and holiday hospitality booking sites in Korea, providing reservations for more than 10,000 guesthouses and pool villas.

The addition of Dailyhotel to its business portfolio is expected to enable Yanolja to quickly become a full platform provider of leisure, activity, mobility and restaurant booking services for travel and leisure customers.

By Oh Dae-seok and Lee Eun-joo

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]

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