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OYO to acquire Amsterdam's vacation rental firm Leisure Group for $ 415-mn

Leisure Group manages holiday homes, holiday parks and holiday apartments in Europe

Press Trust of India  |  New Delhi 

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Through this acquisition, the size and scale of the opportunity can be immediately unlocked for OYO's Homes business

Hospitality firm has agreed to acquire Amsterdam-based company @from for an estimated $415 million (over Rs 2,885 crore).

The acquisition will help move a step closer in realising its vision of becoming a global while maintaining in the hospitality industry, said in a statement.

According to sources in know of the matter, the acquisition cost is $415 million (around Rs 2,885 crore).

@is a leading company in and manages holiday homes, holiday parks and holiday apartments, it added.

As part of the deal, @Leisure will join OYO's group as CEO, Vacation Homes, OYO Global, the statement said.

Commenting on the development, OYO founder & said, "We see 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".

@has proven capabilities in helping develop into a vacation rentals hotspot and OYO is keen to leverage their competencies towards ensuring beautiful and urban homes experience for millions of tourists from every part of the world, he added.

In similar vein, OYO's said: "Today, more than 2.8 mn holidaymakers from over 118 countries book their holiday every year with @Leisure Group. The combined strength of both brands can scale the opportunity multifold." Through this acquisition, the size and scale of the opportunity can be immediately unlocked for OYO's Homes business, he added.

On the development, Andreas Wiele, Classifieds Media SE said: "@Leisure Group has become one of the best integrated holiday home providers in just four years under the excellent of and his colleagues".

For & Homes, it is thus a perfect platform for driving forward further consolidation in this segment, he added.

@Leisure Group, through its Belvilla, DanCenter, and Danland brands, offers more than 30,000 fully managed holiday homes across 13 countries in 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 over 300 thousand rooms.

With the @Leisure Group set to join the chain, OYO will have footprints in more than 800 cities across 24 countries - UK, US, India, China, Malaysia, Nepal, the UK, UAE, Indonesia, Saudi Arabia, the and more recently

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Wed, May 01 2019. 16:30 IST