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Oyo acquires TUI’s vacation rental tour operator business
Despite a massive job cull in its core hotel business in India, China and the US, Oyo’s vacation rental division is still going from strength to strength.
The shot term rental business Oyo Vacation Homes has spent an undisclosed sum to buy TUI’s vacation homes and tour operating business.
The TUI Wolters business adds 17,000 holiday home units to Oyo’s portfolio.
Oyo signed a strategic alliance with Germany-based travel aggregator e-Domizil, which itself just agreed to acquire TUI Wolters.
TUI Wolters comprises a holiday home OTA platform, and a roundtrip and vacation homes based tour operator.
The holiday home tour operator unit of the business will be integrated within Oyo’s Belvilla brand.
It significantly expands Oyo’s vacation rental footprint in Europe after acquiring the @Leisure Group in a €360 million deal last year.
"At Oyo, our acquisition strategy is focused towards building on our existing capabilities and with e-Domizil as a partner, we have found synergies to strengthen our presence across Europe," said Tobias Wann, Global CEO for Oyo Vacation Homes.
"At Oyo, our acquisition strategy is focused towards building on our existing capabilities and with e-Domizil as a partner, we have found synergies to strengthen our presence across Europe," said Tobias Wann, Global CEO for Oyo Vacation Homes.
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