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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] Yeogiottae Company announced on May 18 that it has acquired a 100% stake in Loco Partners, the operator of Japan-based luxury travel booking platform Relux.
Relux specializes in premium hotels, resorts, and traditional ryokan accommodations, and is known to have approximately 3.8 million members.
Following the acquisition, Yeogiottae plans to integrate Korean travel products into Relux while supplying high-end Japanese accommodations from Relux to its own platform.
The company aims to leverage the deal to expand cross-border travel demand, targeting inbound tourism to Korea from Japan, outbound travel by Korean users to Japan, and broader East Asia travel from international markets beyond both countries.
CEO Jung Myung-hoon said the acquisition establishes a foundation for direct entry into inbound tourism and global markets, positioning the company for further international expansion.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
https://www.alphabiz.co.kr/news/view/1065618008620459
This article is based on global economic content from Alphabiz, which distributes English-language news on Korean markets and companies to international audiences.
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