Yanolja Cloud, a Seoul, South Korea-based global provider of AI-based SaaS solutions for the hospitality and leisure industries, acquired Go Global Travel, a Bnei Brak, Israel-based B2B travel technology company, which distributes its inventory of more than 1 million hotels and other travel products from 200 countries to over 20,000 client partners.
Through this acquisition, Yanolja Cloud has expanded its travel and hospitality inventory which will further enhance its solution offerings and differentiation.
Founded in Israel in 2000, GGT is a top-tier global travel solutions company that distributes travel products including hotel and resort rooms, airline tickets, and car rentals. GGT distributes these products primarily in North America and Europethrough over 50,000 direct contracts, and over 10,000 sales channels.
The acquisition of GGT from AMI Opportunities Fund which is advised by Apax Partners, a global private equity advisory firm, will give Yanolja Cloud distribution capabilities, allowing properties of all types, sizes, and budget ranges – and in every corner of the world – to digitize property operations.
The acquisition is expected to produce multiple benefits for new and existing Yanolja Cloud and GGT customers, including global reach for businesses, and more choice and personalization for travelers. GGT partner properties and other travel-related services will be made available through Yanolja’s B2C platform businesses Yanolja and Interpark (South Korea’s leading travel and leisure super apps). Additionally, Yanolja Cloud aims to distribute its strong Asian inventory through GGT platform channels and online and offline travel agencies worldwide, including North America, Europe, and the Middle East. Together, this newly combined inventory from across Yanolja Cloud and GGT, can be packaged together and offered to new channels.
The acquisition also supports Yanolja Cloud’s mission to create technology to make it easier for hospitality and leisure properties to transform their business and delight their guests by accelerating the adoption of its integrated solutions to properties around the world. The company expects it will be able to begin expanding global sales by providing advanced hospitality solutions that can be efficiently integrated with existing customer solutions. Yanolja Cloud intends to leverage GGT’s 20 overseas branches as bases for global business expansion, strengthening the global solution sales and customer service networks of Yanolja Cloud member companies including eZee and Innsoft.
Yanolja Cloud currently provides channeling solution technology enabling travel agencies and platform businesses to sell various travel products without the need to directly secure rights for the inventory, resulting in greater distribution and decision making for hospitality providers.
FinSMEs
15/05/2023