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Oyo to invest USD335 million in European home rental business
Indian budget hotel giant Oyo plans to invest $335 million in its vacation homes business.
It acquired Netherlands based holiday rental company Leisure earlier this year with a focus on growing the business in Europe.
It rebranded it to Oyo Vacation Homes recently and will ‘strengthen the relationship with homeowners and enabling them with the resources required to deliver chic hospitality experiences.’
The ultimate goal is to become the largest vacation rental management business across Europe, under the OYO Home, Belvilla, Danland and Dancenter brands.
It will be targeting business travellers as well as tourists.
"We are focusing on enhancing our customer proposition to not just families but millennials and young executives," said Tobias Wann, CEO of OYO Vacation Homes.
The home rental business comprises about 115,000 homes across Europe and attracts about 2.8 customers annually.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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