OYO acquires Amsterdam-based Leisure Group for $415 mn
India's online hotel room booking app OYO has acquired Amsterdam-based vacation rental company Leisure Group from Axel Springer for an estimated $ 415 million (over ₹ 2,885 crore).
The acquisition will help OYO in realising its vision of becoming a global real estate brand while maintaining leadership in the hospitality industry.
Leisure Group is a leading vacation rental company in Europe and manages holiday homes, holiday parks and holiday apartments.
As part of the deal, Leisure Group CEO Tobias Wann will join OYO’s leadership group as CEO, Vacation Homes, OYO Global, the statement said.
Commenting on the development, OYO founder & Group CEO Ritesh Agarwal said, “We see vacation homes as a unique opportunity with 115,000 units of homes now getting added to our already gr...