In its first acquisition because the first wave of Covid-19, India’s hospitality large Oyo has acquired Europe-based trip rental firm Direct Booker for USD 5.5 million.
The current purchase will strengthen the SoftBank-backed firm’s presence in Europe, particularly in Croatia the place it already has almost 1,800 trip properties on its Belvilla platform and over 7,000 properties on its Traum Ferienwohnungen platform. According to Oyo, the stock of Direct Booker can be obtainable on Belvilla.com (Belvilla by Oyo) and over time on its different platforms.
Direct Booker’s portfolio consists of trip rental options, rental administration, rental reserving, rental Software, and rental franchise. The firm claims to have over 3,200 properties and serviced 20 lakh clients thus far.
In 2019. Oyo expanded in Europe with the acquisition of an Amsterdam-based trip rental agency Leisure Group. The firm already has a presence within the continent together with the Netherlands, Denmark, Belgium, Germany and Austria.