Yelloo2o will establish a subsidiary under the name of ‘RoomEx’ (CEO Sung-min Lim) and display a reservation system based on real-time accommodation data.
RoomEx, shortened for “Room Exchange”, is a business platform that delivers real-time room status to online channels to help expand real-time reservations.
First, RoomEX receives the most accurate room status data from client’s room management system. Then, users can check out vacant rooms based on real-time data and book them. The reservation can occur in both domestic and foreign channels. When a reservation is made through the linked channel, the owner of the selected accommodation immediately gets notified from the system.
Currently, most accommodation services such as hotels, motels, lodges and guesthouses use room management systems only for on-site management purposes. Therefore, real-time room information are not shared on online channels which makes it impossible to secure a room on the spot without developing an interlocking room management system.
RoomEx plans to focus on securing room data for available accommodation through upgrading the on and off-line room management system operated by Yelloo2o. Currently, Yelloo2o operates 5,000 on and off-line room management systems. It captures about 40% of small and mid-sized room in the domestic management system market.
Due to revitalization of online channels, deepened competition in the industry and increased convenience for the owners, RoomEx expects real-time room transactions to grow. RoomEx hopes to strengthen its partnership with domestic and overseas online channels in order to innovate the system of the accommodation industry.
Sung-min Lim, the CEO of RoomEx said, “In order for the accommodation industry to take another big leap, we need an ecosystem where real-time data is smoothly built. “We believe that the growth of RoomEx will lead to a new paradigm,” added Lim.
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