New Delhi, Amsterdam, and London, May 1, 2019: OYO Hotels & Homes, the world’s 6th largest chain of hotels, homes, and living spaces – today announced that it has agreed to acquire 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.
The core news facts:
- @Leisure Group is a leading vacation rental company in Europe, offering more than 30,000-fully managed holiday homes through brands like Belvilla, DanCenter and Danland and a subscription-based home management service through its Traum-Ferienwhonungen brand for over 85.000 homes across 50 countries.
- 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.
- Important strategic rationale for OYO is that globally, Homes presents OYO with a massive opportunity of USD 2 tn+ across 100 mn+ homes covering vacation rentals and urban homes. Europe is the largest market accounting for 30-40% of this total supply. In addition, @Leisure Group is among the very few companies in the world with an OYO like full-stack approach to vacation rentals management, having built deep data-driven capabilities in revenue management, homeowner engagement, and property management services.
- By means of the acquisition, OYO’s capabilities of asset management and technology will be combined with the presence, local know-how and category-specific expertise of @Leisure Group in the sphere of vacation rentals.