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Fine stay curation platform ‘Stayfolio’ acquires AROUND FOLLIE

2023-03-22 2 min read

Fine stay curation platform ‘Stayfolio’ acquires AROUND FOLLIE

Reading Time: 2 minutes

South Korea-based fine stay curation platform Stayfolio announced today that it has acquired AROUND FOLLIE, an outdoor stay located in Nansan-ri, Seogwipo, Jeju Island. The purchase price is undisclosed. 

Through the acquisition of AROUND FOLLIE, STAYPOLIO plans to provide differentiated accommodation experiences based on hospitality services. By combining AROUND FOLLIE’s original stays with StayPolio’s premium management services, the company aims to create a global standard for fine stays.

With the acquisition of Aroundpolie, Stayfolio has established a subsidiary, StayAsset, to expand into hospitality-based operations management. StayAsset will provide operations management services for Fine Stay and smart hospitality technologies such as IoT.

AROUND FOLLIE is a new concept outdoor stay that combines the advantages of conventional pensions and camping, and won the 2018 Red Dot Design Award. It consists of four types of lodges, caravan rooms that reinterpret vintage airstreams, and cabins based on the concept of a minimalist house on a site of about 4,500 square meters, as well as camping sites and spaces for outdoor barbecues.

To maximize the outdoor genre of AROUND FOLLIE, STAYPOLIO plans to carry out a project to renew the overall facilities and introduce a mobile house “cabin” with a wheeled house motif. To create experience content for consumers, the company is collaborating with various brands and developing F&B, and aims to expand to 10 properties in Jeju this year based on AroundPoly.

“Through AROUND FOLLIE, our first StayAsset model, we plan to develop a new concept of outdoor accommodation models such as cabins, and later expand beyond Jeju to nearby metropolitan areas,” said Lee Sang-mook, CEO of Stayfolio. “We will also actively recruit talented people to revitalize our stay assets.”

StayFolio has been growing year after year by deploying various services based on fine stays that provide differentiated experiences that the MZ generation seeks. Currently, key performance indicators such as monthly active users (MAU) of 500,000 and monthly transaction value of KRW 3 billion have increased by more than 50% year-on-year.

[Startup News in Korea]

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