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Reuters reveals South Korean firm Yanolja that reinvented love hotels gets Booking, GIC funding

Reuters reveals South Korean firm Yanolja that reinvented love hotels gets Booking, GIC funding

Reuters was first to report that South Korean love hotel operator Yanolja has secured $200 million from U.S. peer Booking Holdings Inc and Singapore sovereign wealth fund GIC Pte Ltd, giving it a valuation of more than $1 billion. The budget hotel and online booking platform operator has struck a chord with investors keen to capitalize on the globalization of a novel approach to short-stay accommodation, the exclusive interview with CEO Kim Jong-yoon revealed.