OYO buys Direct Booker; INR 40 crore deal to expand footprint to Europe
According to the Financial Express, Ritesh Agarwal led travel-tech firm OYO has agreed to acquire Europe-based vacation rental company ‘Direct Booker’, the company said in a statement Monday. The deal has been completed at an acquisition price of over INR 40 crore ( or USD 5.5 million), the company added. Through the acquisition, OYO will expand its footprint in Europe, and specifically in Croatia, it said.
OYO already has nearly 1,800 vacation homes on its Belvilla platform and over 7,000 homes on its Traum Ferienwohnungen platform. OYO owns and runs both the platforms to serve customers in Europe. The inventory of Direct Booker will be available on Belvilla.com (Belvilla by OYO) and over time on its other platforms, the company added. OYO said it intends to ‘actively scout’ for ‘tuck-in’ acquisitions, especially in the European market, as a strategic growth lever. The company already has a footprint in the Netherlands,Denmark, Belgium, Germany, and Austria, it added.