OYO to acquire Dutch rental firm @Leisure Group for $415 million

Budget hotel company OYO Hotels and Homes said on Wednesday it is set to acquire Amsterdam-based vacation rental firm @Leisure Group for about $415 million (over Rs. 2,885 crore).

OYO will acquire @Leisure, which manages holiday homes, parks and apartments in Europe, from media and technology firm Axel Springer.

“The @Leisure Group has proven capabilities in helping develop Europe into a vacation rentals hotspot and we are keen to leverage their competencies,” said Ritesh Agarwal, founder and Group CEO, OYO, in a statement.

With its Belvilla, DanCenter and Danland brands, the @Leisure Group seeks to offer over 30,000 fully-managed holiday homes across 13 countries in Europe. Through its Traum-Ferienwohnungen brand, it offers a subscription-based home management service with over 85,000 homes across 50 countries.