Partnering with a specialized investment firm to build reputation as a trusted hospitality operator
ONDA Management Signs MOU with Intrust Asset Management to Develop and Invest in Small-to-Midsize Hotels
- ONDA Management partners with real estate investment specialist Intrust to co-develop small-to-midsize hotels
- The MOU establishes close collaboration across real estate development, investment, and operations
- Collaboration with a specialized investment firm strengthens ONDA's position as a trusted hospitality operator
(Press Release = March 10, 2023) ONDA Management, a hotel development and operations specialist, has joined forces with Intrust Asset Management — a global real estate investment firm — to expand its small-to-midsize hotel development and operations footprint.
On March 10, ONDA Management (CEO Yoon Myung-ki) announced it signed a memorandum of understanding (MOU) with Intrust Asset Management (CEO Kang Shin-eun) on March 9 to co-develop and invest in hotel and real estate projects, with a focus on small-to-midsize hotels in Korea.
The partnership will combine ONDA Management's hotel development and operational expertise with Intrust's deep experience in real estate investment and securitization to deliver effective hospitality development and operations. ONDA Management's existing hotels and properties will be securitized into real estate funds and REITs, while Intrust gains a platform to expand its hotel development portfolio nationwide.
Founded in 2006, Intrust Asset Management is a specialized real estate asset manager covering REITs, funds (REF), and private equity development (PEF). The firm has extensive experience in real estate investment and securitization, with strong domain knowledge in hospitality and commercial real estate.
ONDA Management is a rising force in hospitality development and operations, leveraging cutting-edge hotel tech from its parent company ONDA — including ONDA HUB (integrated sales platform) and PMS (property management system) — to maximize revenue.
The company currently operates nine hotels and extended-stay properties nationwide — including its SoTA Collection brand — in Seoul, Busan, Yeosu, and Sokcho. It's aggressively scaling toward 6,000 rooms under management by 2025.
"This partnership with Intrust, a firm with deep real estate development and investment experience, will generate strong synergy," said CEO Yoon Myung-ki of ONDA Management. "We'll do everything in our power to establish ourselves as a highly trusted hospitality operator."
ONDA Management's parent company, ONDA, is Korea's leading hospitality tech company. Recently named the 7th fastest-growing tech company in Korea by the Financial Times' 2022 Asia-Pacific High-Growth Companies ranking, ONDA also became the first Korean company to appear in Skift's Global PMS Vendors list at #34, cementing its position as a global hotel tech leader.
