InnKey looks beyond PMS tech following Yanolja investment

Hotel Technology Specialist InnKey received an undisclosed investment from Cloud YanoljaSouth Korean travel technology platform.

Indian company InnKey, which provides a cloud-based property management system for high-end hotels and chains, will use the funds to expand its business.

According to a statement, Yanolja Cloud, which has the rights to acquire 100% of InnKey, sees the company as a complement to its existing Software-as-a-Service business.

He adds that by using Yanolja’s experience, InnKey will become a “one-stop platform offering a full range of hotel management solutions”.

This latest deal comes after a similar recent investment in HotelOnline, a company that helps hotels with online transactions and distribution.

Viral Shah, co-founder and CEO of InnKey, said, “At InnKey, our vision has always been to disrupt the way major hotels and chains operate globally. With InnKey’s product expertise and Yanolja Cloud’s global reach and ecosystem, we will focus on improving our cloud platform and expanding globally as we seek to transform the industry. world of the hotel industry.

Andrew Kim, Director of Global Solutions Business at Yanolja Cloud, said, “We decided to invest in InnKey with an acquisition path based on their deep domain knowledge, a robust product and a passionate management team, which we considered the key formula. in expanding and accelerating the business opportunity with a range of enhanced solutions for all types of hotels.

Yanolja received a $1.7 billion investment from SoftBank just under a year ago with a plan to expand its cloud-based travel and leisure platform.