OYO Enters Europe, Acquires Amsterdam-based @Leisure Group for $415 Mn
1 May 2019 8:41 AM GMT
Gurgaon-headquartered budget hotel startup, OYO, has made an acquisition to expand its footprint into Europe as the company has acquired one of the
- Amsterdam-based @Leisure Group (the '@' is a part of its name), through its Belvilla, DanCenter, and Danland brands, offers more than 30,000 fully managed holiday homes across 13 countries in Europe and through its Traum-Ferienwohnungen brand, offers a subscription-based home management service with over 85,000 homes across 50 countries.
- Axel Springer, which had a 51% share of @Leisure Group, would be receiving €180 million (~ US$202.35 Mn) in the deal, including the repayment of a shareholder loan of around €60 million (~ US$67.45 Mn), and a spokesperson for OYO confirmed to TechCrunch that the full price was €369.5 million i.e about US$ 415 Mn.
- Today, more than 2.8 million holidaymakers from over 118 countries book their holiday every year with @Leisure Group.
- Last month, AirBnB invested around $150-200 million to pick up stake in Oyo Roomsand valuing the Indian hospitality startup at more than $1 Billion.
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