TheHyuShik Raises KRW 65 Billion in Pre-IPO Funding, Bringing Cumulative Investment to KRW 107.8 Billion
TECHWORLD ·
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TheHyuShik announced on the 20th that it had secured KRW 65 billion in pre-IPO funding.
The investors were TS Investment and VIP Asset Management, and the deal included KRW 15 billion in secondary shares from existing shareholders.
Based on cumulative funding of KRW 107.8 billion, TheHyuShik plans to invest up to KRW 100 billion through 2027 and target an IPO in 2028.
TheHyuShik announced on the 20th that it had secured KRW 65 billion in pre-IPO funding. The investors were TS Investment and VIP Asset Management. The deal included KRW 15 billion in secondary shares from existing shareholders.
With this investment, TheHyuShik's cumulative funding reached KRW 107.8 billion. Based on this capital, the company plans to invest up to KRW 100 billion through 2027. The deployment method will be partnerships with institutional investors such as asset managers.
TheHyuShik plans to expand the application of its comprehensive lodging solution, which includes hotel PM(Project Management) and operations, to 3- and 4-star hotels. It is targeting an IPO in 2028.
TheHyuShik is a comprehensive lodging solution company that provides integrated services for the entire lodging business process within its group. Its scope covers data-driven business viability analysis, hotel PM, space planning and construction, contract-based operations, hotel management IT solutions, and unmanned control.
Unlike the traditional model in which multiple companies share responsibilities, TheHyuShik offers a structure that does not divide work among several vendors, helping reduce business time and costs. It also emphasizes that it reuses data accumulated in operations for business viability analysis in subsequent projects and has built a virtuous cycle system for data utilization.
TheHyuShik has carried out PM, operations, and consulting for more than 300 lodging facilities nationwide, including its own brand, 'Aneuk.' It has also introduced its proprietary hotel management IT solution to more than 1,300 lodging facilities.
The company highlights AI and IT automation technology as key strengths. It has an AI system developed by its headquarters cloud business division, and the system is based on the large volume of lodging data accumulated over time. The AI system includes functions for evaluating property value and estimating sales.
At the operations stage, it uses AI to predict occupancy by branch and applies 'smart pricing' to automatically suggest room rates. For foreign-language reviews, AI performs automatic translation, then drafts responses before retranslating them into the customer's language.
TheHyuShik has built a hotel operating model that minimizes labor by combining kiosks, QR door locks, and 24-hour central monitoring. It currently provides unmanned control services to more than 200 lodging facilities.
The investment was carried out through a project fund formed by the Co-GP joint management company established by TS Investment and VIP Asset Management. The fund size is KRW 65 billion.
The investors cited TheHyuShik's ability to put its accumulated data to practical use in hotel planning, operations, and value-add work on site as a strength. Lee Dae-yeol, a director at TS Investment, described TheHyuShik as an offline comprehensive lodging platform company with capabilities in spatial experience planning, unmanned systems, centralized integrated control, and hotel operations IT solutions.
Based on this, TheHyuShik has adopted a policy of focusing on PM and operations rather than directly owning hotel buildings. TheHyuShik's business model is Asset-light. The company plans to expand into major regions such as Seoul, the metropolitan area, and Busan, while fully accelerating its entry into the 3- and 4-star hotel market.
The company also plans to expand cooperation with global hotel brands such as Marriott International and Hilton Worldwide. Through this, it aims to push ahead with its entry into the 3- and 4-star hotel market.
Shin Hyun-wook, co-CEO of TheHyuShik, said the fundraising was the result of recognition of its business model that connects the entire lodging business process and its growth potential. He added that, based on its competitiveness in the mid-sized hotel market, the company aims to leap forward as a leading company in the 3- and 4-star hotel market through cooperation with global hotel brands.
Source: TECHWORLD · Lee Gwang-jae
Original: https://www.epnc.co.kr/news/articleView.html?idxno=408409
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Source: TECHWORLD
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