It aims to conduct an initial public offering (IPO) as early as next year, Kim said in an interview.
(June 11): Yanolja’s gentrification of South Korean love hotels has brought the company a valuation of more than US$1 billion ($1.4 billion) from investors keen to capitalise on the globalisation of a novel approach to short-stay accommodation, its chief executive told Reuters.
The budget hotel and online booking platform operator reached the valuation having secured US$200 million from US peer Booking Holdings Inc and Singapore sovereign wealth fund GIC Pte Ltd, CEO Kim Jong-yoon said.
