Oyo, a subsidiary of Softbank, is acquiring the Amsterdam-based @Leisure Group of Axel Springer, a media technology company, for an undisclosed amount.
The @Leisure Group, through its brands Belvilla, DanCenter and Danland, offers over 30,000 fully managed holiday homes in 13 European countries and through its Traum-Ferienwohnungen brand offers a home management service with more than 85,000 homes in 50 countries. .
The acquisition will help Oyo take another step toward realizing its vision of becoming a global real estate brand while maintaining leadership in the hospitality industry.
Globally, Homes presents Oyo with a huge $ 2 trillion opportunity in 100 million homes, covering vacation rentals and townhomes. Europe is the largest market, accounting for 30-40% of this total supply.
"With Europe leading the trend of home and urban holiday rentals worldwide, @Leisure Group is in a unique position to capitalize on its experience and insights with Oyo's comprehensive approach to building the largest global rental business holiday of the world. If we look only to Europe, there is a growing demand for summer homes with a growing tendency to book a whole house. Through this acquisition, the size and scale of the opportunity can be immediately unlocked for Oyo's Homes businesses. Today, more than 2.8 million tourists from more than 118 countries book their holidays every year with the @Leisure Group. The combined strength of both brands can stagger the opportunity in several steps, "said Maninder Gulati, global strategy director at Oyo.
Tobias Wann, CEO of @Leisure Group, will join Oyo's leadership group as CEO of Vacation Homes, Oyo Global.
Launched in 2017, Oyo Home already has more than 15,000 housing units and apartments worldwide.
"The @Leisure Group has become one of the best integrated home-based providers in just four years under the excellent leadership of Tobias Wann and his colleagues, and last year achieved a record EBITDA of more than 24 million euros. Oyo Hotels & Homes, is therefore a perfect platform to further drive consolidation in this segment, "said Andreas Wiele, president of Classifieds Media Axel Springer SE.