ONDA announced an acquisition that will position the South Korean hospitality technology company to become a global property management system provider for all property types, while accelerating its expansion into markets including Southeast Asia, the Middle East, North Africa and Europe.
The company’s moves included forming a subsidiary, OATech, after acquiring the hotel property management system business unit of Oasis Story, a Korean-based B2B solutions provider. That move follows ONDA’s strategic investment in Hoteliers.Guru, a Thai hospitality tech company. Terms of the deals were not disclosed.
ONDA commands around 70% of South Korea’s domestic online accommodation booking market, while striving to build international partnerships, including becoming the first Airbnb Preferred Partner and the first Google Hotel partner in Korea.
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The moves leave Onda with a property management system lineup that can cover all types of properties, from vacation and short-term rentals to international luxury resorts and smaller hotels. The systems can be integrated to provide real-time online room distribution so properties can maximize revenue.
"Most of our hotel customers can now manage their property digitally with ONDA, from property management to online room distribution and revenue management,” CEO Hyun-seok Oh said. "We will continue to invest in the development of digital transformation technologies for hotels and hoteliers."
In January, ONDA announced it had raised about $10 million as it closed its Series B funding, bringing its total investments to $25.5 million.