Luxury hotel booking platform to be acquired by rival Yanolja

South Korean short-term accommodation booking platform, Yanolja Co., has announced plans to acquire Dailyhotel, a luxury hotel and restaurant booking platform, as part of Yanolja's business expansion measures.

According to multiple sources from the accommodation industry, Yanolja has recently decided to buy its local rival Daily Co., the operator of Dailyhotel app that offers reservation services for five-star hotels and fine-dining restaurants at home and abroad. Both parties have agreed not to disclose the deal value for now.

Dailyhotel, launched in 2013, is an online and mobile reservation site for about 400,000 hotels in 210 countries including most major hotels in Korea such as Shilla hotel, as well as 4,700 pensions and 1,000 fine-dining restaurants.

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

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