With this acquisition, OYO will move a step closer in realizing its vision of becoming a global real estate brand while maintaining leadership in the hospitality industry.
OYO Hotels & Homes will acquire Amsterdam-based @Leisure Group, a leading vacation rental company in Europe. OYO will buy @Leisure from Axel Springer, the media and Technology Company.
@Leisure manages holiday homes, holiday parks, and holiday apartments. With this acquisition, OYO will move a step closer in realizing its vision of becoming a global real estate brand while maintaining leadership in the hospitality industry.
Maninder Gulati, Global Chief Strategy Officer of OYO, said, “I would like to commend @Leisure Group’s team for the incredible work they have done to bring wonderful and memorable living experiences to travellers around the world by offering beautiful holiday homes, cottages and holiday parks, in 300+ cities across Europe stretching all the way from Kokelv, Norway to Zahara de los Atunes, Spain. With @Leisure Group, its team and capabilities, we see OYO further its mission of creating quality living experiences for everyday travellers.”
Ritesh Agarwal, Founder & Group CEO, OYO, added, “The @Leisure Group is a great partner and we are excited to broad base their offerings. @Leisure Group has proven capabilities in helping develop Europe into a vacation rentals hotspot and we are keen to leverage their competencies towards ensuring beautiful vacation rental and urban homes experience for millions of tourists from every part of the world. I am particularly thrilled to welcome Tobias and team into the OYO family. It is a business decision closely aligned with our overall mission that has incredible potential.”
Tobias Wann, CEO of @Leisure, stated, “We are delighted to join forces with OYO in its mission of creating quality and beautiful spaces. @Leisure Group was started with a similar mission to identify and service all forms of vacation & urban home rentals, focusing on delivering a hassle-free experience to both homeowners and guests. I am delighted to share that we’ve successfully achieved that over the past few years, and now aspire to leverage our synergies to deepen our presence in Europe and look to expand globally.”