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OYO to acquire Vacation Rental Firm @Leisure Group from Axel Springer

OYO Rooms

01 May 2019, India:

OYO today announced that it has agreed to acquire Amsterdam-based vacation rental firm @Leisure Group from Axel Springer.

The acquisition helps OYO move a step closer in realizing its vision of becoming a global real estate brand while maintaining leadership in the hospitality industry, the company said in a satement.

Tobias Wann, CEO, @Leisure Group, will join OYO’s leadership group as CEO, Vacation Homes, OYO Global, and will work with me to turn OYO’s home business into a global by-word for vacation and urban home rentals.

Ritesh Agarwal, Founder & Group CEO, OYO, said, “We see vacation homes as a unique opportunity with 115,000 units of homes now getting added to our already growing count of beautiful homes and we are excited to continue maintaining our global industry leadership. Our focus, however, will remain to be a beloved consumer brand that has the ability to create a perfect space in every place. The @Leisure Group is a great partner and we are excited to broad base their offerings.”

Ritesh Agarwal, added, “@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 @Leisure, said, “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.”

Tobias Wann added, “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.”

Maninder Gulati, Global Chief Strategy Officer, 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 travelers 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.”

Maninder Gulati , added, “With @Leisure Group, its team and capabilities, we see OYO further its mission of creating quality living experiences for everyday travelers.”

@Leisure Group offers more than 30,000-fully managed holiday homes across 13 countries in Europe and through its Traum- Ferienwohnungen brand, offers a subscription-based home management service with over 85,000 homes across 50 countries.

(Image – OYO Rooms)

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