The travel industry is undergoing unprecedented transformation in the rapidly evolving digital age.
Yanolja, a company previously unknown to many, has grown from a Korean online travel agency (OTA) to a globally recognized travel technology group, attracting the attention of major venture capital firms and Booking Holdings.
Founded in 2005 by Sujin Lee which the name translates to "Hey, let's play" in Korean, Yanolja initially served as an online search portal and advertising platform for local accommodations, helping them attract new guests.
Thanks to Sujin's sharp market insight and understanding of user needs, Yanolja quickly gained traction with Korean travelers, establishing a solid user base.
Since then, Yanolja has made consistent technological strides.
The company has rapidly evolved from a market leader in Korea to a global travel technology company, now operating in over 200 countries and serving 1.3 million enterprise customers worldwide. As it continues to expand globally, its focus on Vertical AI and data-driven services has allowed the company to digitally connect market players across the travel value chain, optimizing operational efficiency and traveler experiences.
A key differentiator is the massive amount of proprietary data that powers Yanolja’s Vertical AI solutions, driving revenue for enterprises and improving traveler interactions across 130,000 suppliers and 18,000 sales channels. This strategic pivot toward AI has positioned the company as a leader in global travel technology, moving beyond traditional B2C services to a comprehensive B2B platform.
The expansion of business and optimization in service quality have helped Yanolja strengthen its market presence. With a Cloud (B2B) annual revenue growth rate of 60% in 2023, the company now has a large number of partners, including more than 130,000 suppliers globally.
Beyond accommodation, Yanolja has diversified its offerings to include food and beverage (F&B) services, activities and leisure tickets, as well as entertainment options such as concerts, performances, and musicals. Additionally, the platform covers transportation, aiming to create a one-stop travel platform.
In 2019, Yanolja raised nearly $242 million in a Series D funding round backed by GIC and Booking Holdings. In 2021, Softbank’s Vision Fund 2 injected an additional $1.7 billion, at the time valuing the company at more than 10 trillion Korean Won ($9 billion).
Yanolja holds an important position in the Korean travel market, becoming the largest OTA in the country’s accommodation sector. The company has also accelerated its overseas expansion through acquisitions and organic growth, including eZee Technosys (now Yanolja Cloud Solution), an Indian PMS system cloud provider, Go Global Travel (GGT), an Israeli B2B technology company specializing in transactional solutions, and InterParkTriple, the number one ticketing and leisure platform in Korea, to expand its business to international markets.
In an era of rapid development of science and technology in recent years, Yanolja focused heavily on cloud services and AI, and has achieved remarkable results.
In the second quarter of 2024, Yanolja Cloud's adjusted EBITDA reached KRW 21 billion (approximately USD 16 million) with an EBITDA margin of nearly 30%. Revenue from the cloud computing division grew 157% year-over-year.
Unlike many legacy travel companies, Yanolja's data, cloud services, and AI technologies are tightly integrated, forming a robust ecosystem.
Jong Yoon (Jeff) Kim, Chief Strategy Officer of Yanolja Group and CEO of Yanolja Cloud, recently told ChinaTravelNews, "Yanolja is not just doing simple business chain expansion, but trying to help customers improve their profitability and add value through the entire value chain and share those profits."
First, Yanolja digitally transforms suppliers like airlines and hotels, capturing high-quality data, which is then passed to sales channels and consumers. This approach helps create a secure data repository and powers the AI-driven dynamic pricing solution for travelers.
While some see potential conflicts in Yanolja’s roles as an OTA, hotel operator, and PMS provider, Kim sees no conflict:
"Yanolja's business model is very different from a traditional OTA or a hotel solution-only business because there is competition between them. They have to play a zero-sum game and sacrifice their profitability, but Yanolja provides the whole data flow from supplier, sales channel, wholesaler to consumer."
Therefore, he believes that Yanolja is playing a "win-win game" rather than a "zero-sum game."
While many label Yanolja as a super app, Kim disagrees, noting, "the super app is just a part of Yanolja's business, but any company that wants to be a super app needs to rely on Yanolja's services."
There have been rumors about Yanolja preparing a U.S. IPO in recent months. Kim did not directly address these rumors, but he was confident that "Yanolja is committed to becoming a truly global company." The company is actively expanding partnerships in China, Japan, Europe, and the U.S., with no signs of slowing down.
From a local OTA to a global travel technology pioneer, Yanolja’s journey is one of innovation, perseverance, and opportunity. As its cloud business continues to grow and its global strategy unfolds, Yanolja is poised to take on an even greater role in the global travel technology sector.
Looking ahead, the growing demand for AI-powered solutions and data-driven insights will remain central to Yanolja’s growth strategy. Its Total Transaction Volume (TTV) surged 247% year-over-year in Q2 2024, reaching $5.3 billion, reflecting its ability to scale globally while improving data quality and customer experiences. By leveraging the company’s proprietary data lake and innovative AI services, Yanolja has created a sustainable growth engine that continues to deliver value across the travel industry. As the travel market is projected to grow 9.7% annually, Yanolja’s AI-driven technology and ever-expanding data enablement platform are well-positioned to shape the future of travel.
On September 25, Jong Yoon (Jeff) Kim joined a fireside chat with TravelDaily China’s CEO Charlie Li, at the 2024 TravelDaily Conference in Shanghai, discussing the disruptive impact of AI on the travel industry.
