Yanolja Cloud has paid $8.3 million for Innsoft, an Oregon-based provider of hotel management software.
Yanolja Cloud is the hotel technology division of South Korean booking platform Yanolja.
According to the company, the acquisition is part of an effort to expand its hospitality services in North America.
Yanolja Cloud intends to use Innsoft’s resources this year to launch a series of hospitality management solutions for the North American market, as well as a new self-check-in kiosk.
Innsoft provides hotel management software solutions to booking platforms such as Booking.com and Expedia Group.
Yanolja Cloud previously stated that it has ambitious plans for hotel software sales, which will be bolstered by Softbank’s $1.7 billion investment in its parent company in 2021.
Last year, the company’s chief strategy officer stated that it aims to overtake Oracle Hospitality as the global market leader in hotel operational software sales. At the time, the goal was for hoteliers to see Yanolja Cloud as a one-stop shop for technology to run their operations, including bookings, distribution, and revenue management.
