Handy's Surpasses ₩70 Billion in Sales and Achieves EBITDA Profit

Proptech company Handys, which operates the residence hotel brand 'Urbanstay', recorded innovative achievements last year, achieving its first EBITDA surplus since its founding. Revenue grew by 35% year-on-year to 72.5 billion won, and operating losses significantly decreased by 74% to 1.9 billion won. This signifies that Handys has begun generating cash through full-fledged business operations, demonstrating the company's solid profitability and cash flow. In addition to financial performance, the business scale has also grown exponentially. Last year, it operated 3,600 rooms across 26 branches nationwide, significantly expanding the number of rooms compared to the previous year and continuing its high double-digit growth. Building on this growth momentum, Handys plans to accelerate the expansion of new branches and the promotion of new businesses this year, aiming to surpass an annual revenue of 100 billion won. Furthermore, with the adoption of International Financial Reporting Standards (K-IFRS), it is providing transparent and clear financial information, aligning with global standards. At the heart of all this growth lies Handys' unique proptech technology, developed in-house. Through its 'TMS (total management system)', it centrally and integrally manages rooms nationwide, maximizing efficiency. Customers enjoy innovative conveniences such as direct check-in, allowing immediate access to rooms without a front desk, and experiencing optimal pricing through AI-based 'Smart Pricing'. CEO Jung Seung-ho stated Handys' ambition to leap beyond being the No. 1 residence hotel brand in Korea to become the top proptech company, emphasizing its commitment to providing customers with a higher level of living and accommodation experience.