Korean hotel app Yanolja buys stake in ZEN Rooms

Sunday, 27 Jul, 2018 0

Budget hotel platform ZEN Rooms has sold a stake to Korean hotel app Yanolja for US$15 million.

It will give Yanolja a minority stake and the option to convert to 100% ownership in the future.

Rocket Internet-backed ZEN Rooms had rapidly expanded in Southeast Asia but had reportedly been experiencing financial woes since earlier this year.

It had been actively seeking a buyer.

ZEN’s main markets are Indonesia, Thailand and Malaysia.

Singapore based ZEN’s business model is offering a consistent budget hotel product as a hotel chain and online booking platform.

Seoul based Yanolja is Korea’s largest home grown accommodation platform which lists about 40,000 properties.



 

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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.



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