The Hyoosik is a Korean startup providing comprehensive accommodation solutions. The company recently completed a Series B investment round, securing 16 billion won ($11.5 million) from TS Frontier Proptech Fund. This brings their total investment to 22.8 billion won ($16.8 million), all facilitated by TS Investment’s TS Frontier Proptech Investment Association.
The Hyoosik has established a strong presence in Korea’s small and medium-sized hotel market, managing 170 hotels with a cloud-based SaaS model serving 1,110 hotels. The company also provides an unmanned central control solution to 100 hotels.
The company operates within a 20 trillion won ($14.4 billion) market, offering a comprehensive value chain that includes hotel project management, construction, operation, and cloud solutions. Additionally, The Hyoosik has developed and managed seven tourist hotels and operates three-star hotels under global brands, targeting the broader hospitality market valued at over 30 trillion won ($21.7 billion).
One of The Hyoosik’s key innovations is its unmanned stay solution, which integrates advanced IT automation. This has opened new revenue streams through consignment operations and building management services. The company’s construction subsidiary is expanding into a general construction firm, offering data-driven hotel branding, planning, and interior construction.
The company has improved hotel value evaluation with its proprietary model and Expected Sales Analysis System (ESAS), reducing the assessment period from one month to one hour. Over five years of successful hotel operations have established The Hyoosik as a reliable operator. The company is transitioning from individual wealth markets to institutional investment markets through partnerships with asset management firms.
The Hyoosik’s business model and its hotel brand, ‘Acok’, have driven consistent financial success. Last year, the company reported consolidated sales of 55.4 billion won ($40 million) and an operating profit of 5.1 billion won ($3.6 million), maintaining growth without incurring operating losses since its inception.
Lee Dae-yeol, head fund manager of TS Proptech Fund, emphasized the strategic importance of this investment. He stated, “The TS Frontier Proptech Fund is designed to provide timely funding aligned with the growth stages of Proptech companies. By bringing together strategic investors aligned with our business strategy, we aim to optimize the growth of target companies.” Lee highlighted the importance of investor composition for creating business synergy and outlined plans for future funds to support Proptech companies’ growth phases.
This investment aims to accelerate The Hyoosik’s strategic execution and strengthen its foundation for sustainable growth. The collaboration between The Hyoosik and TS Proptech Fund marks a significant step towards the company’s long-term vision and expanding its influence in the accommodation and hospitality industry.
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By Proptechbuzz
By Ravi Kumar
