HomeBUSINESSOYO expands footprint in Europe, acquires Denmark's holiday home chain Bornholmske Feriehuse

OYO expands footprint in Europe, acquires Denmark’s holiday home chain Bornholmske Feriehuse


OYO has acquired Denmark-based holiday home operator Bornholmske Feriehuse, the company stated in a release on Tuesday. However, it did not reveal the amount for acquiring the hospitality chain. 

Speaking about the model, meanwhile, the company said in a release, “Based out of Bornholm island in Denmark, Bornholmske Feriehuse has 737 holiday homes spread over 30 holiday parks on its platform and expects to clock more than 2.5 lakh guest nights in 2022.”

“Bornholm exhibits great potential for tourism in the coming years,” OYO founder and Group CEO Ritesh Agarwal said.

The transaction has been carried out by the company’s subsidiary DanCenter through the ‘Invest in Denmark’ initiative by the Danish government that provides customised one-stop service to foreign firms looking to set up or expand a business in the country, it added.

Rasmus Lund, who founded the holiday home operator in 2002 along with Jacob Lund, will continue as director of Bornholmske Feriehuse and will grow operations further

He said the collaboration with OYO through DanCenter A/s therefore gives the opportunity to keep up with demand, just as homeowners also benefit from the many online portals that DanCenter collaborates with.

Going forward, holiday homes from Bornholmske Feriehuse will become available for booking through more than 130 online portals with which DanCenter works closely, OYO said.

In Europe, OYO has footprints in countries, including the Netherlands, Belgium, Germany, Austria and Croatia. In May this year, the home-grown firm had acquired Croatia-based Direct Booker, which has over 3,200 homes and serviced 20 lakh customers.

Its brands in Europe include Belvilla (Belvilla by OYO), DanCenter, Traum Ferienwohnungen.

“The acquisition in Bornholm will strengthen OYO’s presence in Europe broadly and Denmark specifically,” the statement said.

Catch all the Corporate news and Updates on Live Mint.
Download The Mint News App to get Daily Market Updates & Live Business News.


Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.


Source link


Most Popular

Recent Comments