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“We will simplify the process of preparing for travel more than ever. Artificial Intelligence (AI) will negotiate on behalf of people to present the optimal hotel quote through the most efficient process.”

This is the ambition expressed by Lee Byung-joo, CEO of Riyadh Corporation. Established in 2023, Riyadh Corporation is a travel tech company operating the hotel reservation platform ‘RiaTravel,’ which calculates optimal quotes based on AI. It focuses on AI transformation (AX, AI Transformation) of travel transactions by not only calculating optimal quotes but also reflecting complex requirements such as room type, view, and pet-friendliness through AI instead of humans.
AI-based Optimal Hotel Quote Presentation…Strength in Providing Customized Services by Meeting Requirements

Riyadh Corporation’s services are divided into B2B ‘Ria’ and B2C ‘RiaTravel.’ Riding on the positive response to the Ria service, RiaTravel was rebranded and launched.

CEO Lee Byung-joo stated, “The B2B market significantly impacts hotel industry revenue. It is crucial to calculate quotes that are mutually satisfactory for travel companies,” adding, “Previously, quotes were adjusted based on paperwork between hotels and travel companies, which was inconvenient as it was handled on a case-by-case basis. If a customer changed their requirements, complex paperwork had to be redone. For instance, if 100 people purchasing a travel package had different requirements, a person had to coordinate all of them,” he explained. “Observing this process, the idea arose to automate the process of receiving hotel quotes to minimize inconvenience. We developed the AI agent ‘Ria,’ which operates by receiving individual requirements and quotes from individuals, corporations, or travel agencies and coordinating quotes with hotels instead of humans.”
He continued, “If hotel quotes are lowered below the publicly available online price, brand value decreases, so negotiation is necessary to achieve a quote lower than that price. The AI agent Ria negotiates on behalf of people based on negotiation logic to calculate the optimal price. If the price is unsatisfactory, it renegotiates,” he emphasized. “As a result, out of over 1,000 quotes received using Ria, 72% were below the online lowest price. Most importantly, using the AI agent Ria allows handling up to 1,000 quote calculations, which a person would handle 2-3 per day, significantly improving work efficiency. The final calculated quote results can be conveniently received via familiar email or messenger.”

The value shared by Riyadh Corporation employees is ‘simplification of travel.’ Many people feel inconvenience due to complex and cumbersome procedures when they should feel joy at the thought of traveling.

CEO Lee Byung-joo stated, “Our mission is to simplify the overly cumbersome travel preparation process. We are dedicated to research and development to create a world where travel preparation ends by accurately communicating one’s preferences and desires to AI,” he said. “In fact, using AI Ria, quotes for approximately 300,000 hotels worldwide can be calculated through a four-step process.”
He continued, “Our focus is on making the travel preparation process simpler and more precise through service advancement. We are organizing and learning what more the AI agent needs to learn through various domestic and international partners, and we are concentrating on providing more hotel quotes,” he said. “To further expand our global market share, significant investment and additional feature development are necessary. Currently, we are striving to secure numerous domestic and international travel agencies as clients and are preparing ways to explosively expand our global business. The answer to that contemplation will be gradually solved through new services. The B2B quote processing service ‘Chloe,’ specialized for travel agencies, set to launch, is also part of that.”
Riyadh Corporation was able to quickly develop the Software as a Service (SaaS) ‘Chloe’ for the AI agent Ria thanks to being selected for the Jungle ASAP program jointly organized by SeoulTech and AWS.

SaaS refers to application services operated in a cloud environment, with all services conducted within the cloud. The reason software is not separately installed on a PC when sending and receiving emails is also due to the use of SaaS.

CEO Lee Byung-joo stated, “Through the Jungle ASAP program, we are receiving significant help from AWS in market strategy, pricing strategy, and technology strategy necessary for SaaS companies,” he said. “It was an impressive collaboration, particularly in enhancing understanding of not only the domestic market but also the U.S. market.”

Riyadh Corporation “Aims to Become the World’s Largest AI Travel Agency”

Riyadh Corporation’s ultimate goal is to become the world’s largest AI Travel Agency.

CEO Lee Byung-joo stated, “Based on Ria, which provides convenient and free hotel quotes to B2B customers, we plan to consecutively introduce travel-specialized AI agents such as the B2B quote processing service Chloe and the hotel operation automation feature David,” he said. “If each AI agent simplifies the cumbersome processes surrounding travel, I am confident that it will ultimately evolve into an AI travel agency encompassing not only hotel quotes but also flights and local transportation.”
He continued, “To achieve our goal, we will challenge the U.S. and global markets with our honed technology while simultaneously collaborating with various domestic partners to advance the AI agent. We plan to present hotel and flight services soon, so please show much interest,” he said.

IT Dong-A Reporter Kim Dong-jin (kdj@itdonga.com)

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