ZEN Rooms recently made the announcement that it had concluded a definitive agreement with Yanolja to make additional investments, acquire the stakes of early investors in the business, and establish a strategic alliance with Yanolja. SBI Korea and RedBadge Pacific remain investors, but early investor Asia Internet Holdings, a joint venture between Rocket Internet and Ooredoo Telecom, has agreed to sell its stake in ZEN to Yanolja.
Booking Holdings and GIC provide financial support to Yanola, the most successful travel group in South Korea. The business made an initial investment of $18 million in ZEN Rooms with the option to increase that amount. ,'_com-medrectangle-3','ezslot_5',191,,_('div-gpt-ad-_com-medrectangle-3-0');
Nathan Boublil, co-founder and CEO of ZEN Rooms, states, ""We started ZEN exactly four years ago to make budget lodging in Southeast Asia safer and more affordable."" Nathan Boublil, co-founder and CEO of ZEN, stated, ""We were honored to be Yanolja’s first international investment. We have proudly built ZEN into the top-rated budget hotel franchise in the region."" We are creating the first full-service budget and mid-range hospitality group in Southeast Asia, able to deploy world-class technology infrastructure in IoT R&D, automation, hardware, and software, through this strategic alliance with one of the most technologically innovative travel groups and its unique backers, Booking Holdings. Our capacity to serve our hotel guests and, ultimately, travelers throughout the region will greatly benefit from this alliance.
“We have shared the same vision of operational excellence and customer centricity to radically improve the Southeast Asian hospitality market ever since we first invested in ZEN. The ZEN team has made significant progress toward realizing this vision over the past year, experienced exponential growth, and has displayed outstanding inventory quality. Yanolja's CEO of Online Business, Jongyoon Kim, stated, ""With this exciting agreement, Yanolja plans to fully support ZEN in establishing its position as the leading full-stack hospitality company in the region.""
The leading economy and mid-range hospitality group in Southeast Asia is formed when ZEN and Yanolja join forces. With Yanolja's scale, hospitality technologies, and backing from Booking Holdings, the global leader in online travel (the company behind Booking.com, Agoda, Priceline.com, and Kayak, among others), the partnership gives ZEN Rooms a unique competitive advantage in both hotel technology and sales distribution. Utilizing automation technology, the two partners will collaborate to improve customer service, further reduce operating expenses for budget hotels, and reimagine budget hospitality throughout the region. 300,250],'_com-medrectangle-4','ezslot_6',192,,_('div-gpt-ad-_com-medrectangle-4-0');
With 13,000 rooms under its wing, ZEN Rooms is now one of the largest budget hotel chains in Southeast Asia. In the second quarter of 2019, ZEN has grown to become the largest hotel chain in the rapidly developing Philippines with 5,500 rooms under franchise since Yanolja's investment last year.
Due to the exponential domestic and regional demand of young travelers and millennials, Southeast Asia is currently the travel market that is expanding at the fastest rate in the world. The number of Chinese tourists, for instance, has quadrupled over the past ten years. However, the region's budget hotel industry has a history of poor value for money, plagued by issues like fragmentation, inadequate hygiene and safety standards, a lack of training, and low technology use.
In order to bring much-needed operational and technological efficiency to the estimated 2 million independent economy rooms in the region, ZEN was established in 2015. Since then, thousands of hotel owners have joined ZEN's franchises to boost revenue, reduce expenses, and increase the property's value over time. Travelers will ultimately benefit from these efficiency gains, as they will be able to enjoy safer and more cost-effective stays.
ZEN franchisees have had the highest average guest ratings on Booking.com for two consecutive years due to their strong focus on customer satisfaction. '_com-box-4','ezslot_7',193,,_('div-gpt-ad-_com-box-4-0');""" - https://www.affordablecebu.com/
