Oyo Makes European Push With $415 Million Vacation Rental Acquisition

Home Hotel & Lodging Oyo Makes European Push With $415 Million Vacation Rental Acquisition
Oyo Makes European Push With $415 Million Vacation Rental Acquisition

External Article 2 May 2019

Having raised so much money, it’s not surprising to see Oyo splashing the cash. We should expect further acquisitions as it pushes for global scale.

skift.com

Fast-growing Oyo Hotels & Homes is furthering its global expansion plans with the acquisition of Amsterdam-based vacation rental company @Leisure Group for $415 million (€369.5 million).

Media giant Axel Springer sold its 51 percent stake for $202 million (€180 million) with other shareholders also exiting. The deal is expected to close in June.

In 2018, @Leisure Group reported $150 million (€133.2 million) in revenue with a profit (EBITDA) of $27.9 million (€24.8 million). Tobias Wann, @Leisure Group’s CEO, will join OYO’s leadership group as CEO, Vacation Homes.

Read the full article at skift Inc.