This is the first time Booking Holdings has invested directly in South Korea and the two companies have also entered a strategic partnership, through which Agoda will Yanolja accommodation, while Yanolja customers can book worldwide through Agoda and other Booking brands.

Founded in 2015, Yanolja began as an online search portal for Korea’s notorious “love hotels”. Yanolja claimed to be the first company to offer a reservation platform for mobile phones for these love hotels, which typically relied on walk-in customers.