Yanolja Cloud has acquired Innsoft, an Oregon-based provider of hotel management software, for $8.3 million.
Yanolja Cloud is the hotel tech arm of South Korea-based booking platform Yanolja.
The acquisition is part of an effort to expand its hospitality services in North America, the company said Thursday.
Yanolja Cloud plans to leverage Innsoft’s resources to release a series of hospitality management solutions for the North American market as well as a new self check-in kiosk this year.
Innsoft offers various hotel management software solutions to booking platform companies including Booking.com and Expedia Group.
Yanolja Cloud said previously that it has big plans for hotel software sales, fueled by Softbank’s $1.7 billion investment in its parent company in 2021.
The company’s chief strategy officer last year said that it’s the company’s goal to overtake Oracle Hospitality as the global market leader in hotel operational software sales. At that time, the goal was that hoteliers would eventually be able to view Yanolja Cloud as a one-stop-shop for technology to run their operations, including bookings, distribution, and revenue management.
Tags: booking technology, hotel tech stack, hotel technology, mergers and acquisitions, travel tech, yanolja