Travel and hospitality technology platform OYO on Monday said it has closed the procurement of Europe-based organization ‘Direct Booker’ with the exchange esteeming the latter at around USD 5.5 million (over Rs 40 crore). Direct Booker has over 3,200 homes and serviced 20 lakh clients so far, OYO said in a statement. The stock of Direct Booker will be accessible on Belvilla.com (Belvilla by OYO) and over the long run on its different stages, the organization said.
Commenting on the acquisition, OYO Global Chief Business Officer, Ankit Tandon said, homes continue to be an important strategic segment for OYO and its cutting edge technology, distribution systems and data sciences will add more value to Direct Booker’s current 3,200 homes and enhance collective growth in Europe.
This acquisition will strengthen OYO’s presence in Europe broadly and Croatia specifically where it already has nearly 1,800 vacation homes on its Belvilla platform and over 7,000 homes on its Traum Ferienwohnungen platform, it added.
“We continue to focus on going deep in Europe and delivering the best Vacation Home experiences to our customers,” added Tandon, who led the acquisition.
Direct Booker CEO & Co-Founder Nino Dubretic said, “We strongly believe that by merging our technologies and expertise, this partnership will positively impact the Croatian tourism economy, further driving demand through OYO’s existing platforms spread across Europe.”
OYO had in the recent past declared its intent of actively scouting for ‘tuck-in’ acquisitions, especially in the European market as a strategic growth lever. It already has a strong footprint in the Netherlands, Denmark, Belgium, Germany and Austria.
Being a part of OYO’s network will also increase visibility for the homes listed on Direct Booker platform, especially across Scandinavian, Benelux and surrounding countries, Dubretic added.
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