KabuK Style acquired the stake of HEROWORKS, which provides Revenue Management Solution (“RMS”) for more than 300 hotels in South Korea, and made it a group company. Both companies will collaborate upon digital transformation of lodging and accommodation market in Asia and further introduce HafH, a travel subscription service of KabuK Style, to South Korea market, making it the second biggest focus market of KabuK Style.
KabuK Style Inc.(“KabuK Style”, headquartered in Nagasaki, Nagasaki, Japan, Kenji Sunada, CEO), a Travel Fintech company that operates HafH(“Home Away from Home”), the biggest travel subscription service, since April 2019, is pleased to announce that KabuK Style has acquired the stake of South Korean company HEROWORKS.Co, Ltd. (“HEROWORKS”) to become a member of the KabuK Style Group.
HEROWORKS develops and provides DatAmenity (https://datamenity.com/daty/main), a Revenue Management System (RMS), the first and biggest RMS solution in South Korea, which are now used by more than 300 hotels in South Korea since its launch in 2021.
◼︎The background and the purpose
The primary purpose of this acquisition is to further strengthen KabuK Style’s DX capacity for hotels, from the perspective of revenue management. In addition, the acquisition is intended to contribute significantly to the KabuK Style market expansion in South Korea and to attract more HafH members in the said market.
◼︎Acceleration of DX for Accommodation Market
Revenue management is a method of selling rooms to maximize revenue by predicting future demand based on past market pricing data and setting the best prices in the operation of accommodation facilities. KabuK Style will further promote hotels’ efforts upon successful revenue management by adopting HEROWORKS state-of-art RMS solution and to further push digital transformation of the accommodation market.
◼︎Further Expanding HafH Service in South Korea
HEROWORKS already has more than 300 hotels as clients, including many of the leading hotel brands in South Korea, including Lotte Group, Park Hyatt, Ramada, Hilton Group, etc. KabuK Style will work with HEROWORKS to expedite onboarding efforts of these hotels in HafH travel platform. As a result, further accelerate user acquisition in South Korean market.
On the upcoming December 8, HEROWORKS will be hosting a conference in Seoul for over 100 hotels, with KabuK Style as one of the sponsors.
2023 Korea & Japan Hotel Insight Conference
◼︎Company Profile of HEROWORKS, Co., Ltd.
Biggest hotel revenue management company in South Korea started since 2021 December, which is already adopted by 300 hotels, including Lotte Group, Park Hyatt, Ramada, Hilton Group, etc.
Address：20F KNN Tower, 30 Centumseo-ro Haeundae-gu, Busan
Establishment：February 2020 (Incorporated in January 2022)