Announced on Wednesday, the business agreement aims to attract tourists who want to stay at temple and shrine accommodations to experience the country’s cultural heritage. Both the firms will also develop housing facilities.
Rakuten Lifull Stay is co-owned by Rakuten Inc. (51 percent) and Lifull Co. Ltd. (49 percent). It invests in real estate development and promotes vacation rental listings. It recently unveiled plans to establish a six-story hostel (we reported on it here) and launched its guest house booking site VacationStay last month (we reported on it here). The company also operates a monthly rental property site at MonthlyHomes.
The joint venture has signed listing-sharing agreements with five vacation rental marketplaces: Austin-based HomeAway, South Korean Yanolja, Taiwanese AsiaYo.com, Beijing-based Tujia.com and Amsterdam-based Booking.com.
Founded in Apr. 2015, Osaka-headquartered WaQoo develops lodging facilities and temple shops to attract tourists. It operates temple accommodation booking site Terahaku.jp and general lodges rental site Waqoo-Shitadera.com.