OYO Hotels & Homes has announced that it is acquiring Amsterdam-based @Leisure Group.
@Leisure is a leading vacation rental company in Europe and manages holiday homes, holiday parks, and holiday apartments. 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 more than 300k rooms. The acquisition helps OYO move a step closer in realizing its vision of becoming a global real estate brand.
Commenting on the acquisition, Ritesh Agarwal, founder & Group CEO, OYO, said: ?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 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.?
Reflecting on the acquisition and the proposed growth plans, ?We are delighted to join forces with OYO in its mission of creating quality and beautiful spaces. @Leisure Group was started with a similar mission to identify and service all forms of vacation & urban home rentals, focusing on delivering a hassle-free experience to both homeowners and guests. I am delighted to share that we?ve successfully achieved that over the past few years, and now aspire to leverage our synergies to deepen our presence in and look to expand globally.?
