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Saturday, 04 May, 2019, 13 : 00 PM [IST]

OYO to acquire Amsterdam's vacation rental company @Leisure Group

OYO Hotels & Homes has announced that it has agreed to acquire Amsterdam-based leading vacation rental company in Europe, @Leisure Group. OYO will acquire @Leisure from Axel Springer, the media and technology company.

 @Leisure Group through its Belvilla, DanCenter, and Danland brands, offers more than 30,000-fully managed holiday homes across 13 countries in Europe and through its Traum-Ferienwohnungen brand, offers a subscription-based home management service with over 85,000 homes across 50 countries. This represents a total inventory of 300k+ rooms.

The acquisition helps OYO move a step closer in realizing its vision of becoming a global real estate brand while maintaining leadership in the hospitality industry.

Commenting on the acquisition, Ritesh Agarwal, Founder & Group CEO, OYO added, “We see vacation homes as a unique opportunity with 115,000 units of homes now getting added to our already growing count of beautiful homes and we are excited to continue maintaining our global industry leadership. Our focus, however, will remain to be a beloved consumer brand that has the ability to create a perfect space in every place. The @Leisure Group is a great partner and we are excited to broad base their offerings. @Leisure Group has proven capabilities in helping develop Europe into a vacation rentals hotspot and we are keen to leverage their competencies towards ensuring beautiful vacation rental and urban homes experience for millions of tourists from every part of the world. I am particularly thrilled to welcome Tobias and team into the OYO family. It is a business decision closely aligned with our overall mission that has incredible potential.”

Commenting on the acquisition, OYO’s Global Chief Strategy Officer, Maninder Gulati, said, “I would like to commend @Leisure Group’s team for the incredible work they have done to bring wonderful and memorable living experiences to travellers around the world by offering beautiful holiday homes, cottages and holiday parks, in 300+ cities across Europe stretching all the way from Kokelv, Norway to Zahara de los Atunes, Spain. With @Leisure Group, its team and capabilities, we see OYO further its mission of creating quality living experiences for everyday travellers.”
 
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