As per news reports, OYO has made the largest overseas acquisition ever by any Indian startup. The hospitality unicorn has reportedly acquired the Leisure Group, which is an Amsterdam based vacation rental company with more than 115K beautifully fully managed holiday homes, spanning from Spain to Norway.
Founder & CEO, OYO Rooms, Ritesh Agarwal said, ‘today, we move closer to our goal of creating quality living spaces everywhere. OYO Hotels & Homes has agreed to acquire the Amsterdam-based Leisure Group, a leading vacation rental company in Europe that manages holiday homes, holiday parks, and holiday apartments. Together we aim to bring fruition to our mission of perfect living spaces and delighting millions of travellers across the globe.’
Ritesh Agarwal further exclaimed, ‘we will work together to provide quality and affordable vacation rental and urban homes experience to millions of guests in every part of the world, starting with Europe.’
In fact, Europe accounts for 30-40% of the vacation rental homes market, which the Ritesh Agarwal-led company pegs as a $2 trillion opportunity. Oyo has received fresh funding of about $1 billion and is in the middle of an expansion spree with recent investments in Japan and Saudi Arabia.