Yeogi Eottae Achieves Record High Sales of 204.9 Billion KRW Last Year

[Asia Economy Reporter Donghyun Choi] The accommodation and activity platform Yanolja announced on the 3rd that its sales last year reached 204.9 billion KRW, a 59.2% increase compared to the previous year. Operating profit during the same period rose by 34.9% to 15.5 billion KRW.

Last year's performance was driven by the hotel, resort, and pool villa pension sectors. The popularization of the "hokangseu (hotel+vacance)" trend significantly boosted related accommodation consumption. In particular, the transaction amount for 5-star level hotels, resorts, and pool villas priced over 300,000 KRW per night surged by 137.3% amid the premiumization of hokangseu. Yanolja analyzed that the influx of young people in their 20s and 30s was strong thanks to operating premium accommodation categories such as "Black" and supplying notable curated products.

Additionally, cross-selling of transportation products including airline tickets and rental cars, as well as activities and restaurants linked to accommodation reservations, enhanced the overall dynamism of the platform's categories. The transaction amount for non-accommodation product categories increased by 57.4% last year.

Expectations for growth remain high this year as well. Yanolja has announced plans to expand its business based on the know-how accumulated in domestic travel. With positive outlooks on the easing of the COVID-19 pandemic, active moves such as launching overseas travel products in the first half of the year are anticipated. The goal is to absorb the accumulated overseas travel needs of users as a travel platform with 3.5 million monthly active users (MAU). To this end, Yanolja made a large-scale investment in Onlinetour last year. Furthermore, through the recently launched "Space Rental" service, it laid the foundation to evolve into a platform that expands business areas from travel to leisure and introduces all offline spaces enjoyed outside the home.

Jung Myung-hoon, CEO of Yanolja, said, “We are focusing on the business essence of expanding customers’ experiences and spaces, breaking our own records for maximum performance every year,” and added, “This year as well, we will strengthen our position by providing the travel and leisure services that customers need most in the easiest and most convenient way.”