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.