Never miss a story

Get subscribed to our newsletter


×
Representational image.

In line with its aim to become a global market leader, India’s largest hotel chain OYO will acquire Amsterdam-based @Leisure Group for $415 million.

OYO on Wednesday said it would acquire @Leisure from Axel Springer, a media and technology company.


@Leisure is a leading vacation rental company in Europe and manages holiday homes, holiday parks and holiday apartments.

“With @Leisure Group, its team and capabilities, we see OYO further its mission of creating quality living experiences for everyday travellers,” Maninder Gulati, OYO’s Global Chief Strategy Officer, said in a statement.


@Leisure Group, through its Belvilla, DanCenter, and Danland brands, 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.

OYO said the the acquisition will help it move a step closer in realising its vision of becoming a global real estate brand while maintaining leadership in the hospitality industry.

Also Read- Huawei Overtook Apple as The Second Largest Smartphone Seller

“Through this acquisition, the size and scale of the opportunity can be immediately unlocked for OYO’s Homes business. Today, more than 2.8 mn holidaymakers from over 118 countries book their holiday every year with @Leisure Group. The combined strength of both brands can scale the opportunity multifold,” Gulati said.

“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,” Gulati added. (IANS)


Popular

Photo by Tingey Injury Law Firm on Unsplash

The plea asked the Election Commission to ensure that every political party publishes each candidate's criminal records.

The Supreme Court on Tuesday agreed to examine a seeking direction to the Election Commission to de-register a political party, which fails to comply with the court's direction to disclose criminal antecedents of candidates fielded in polls. Advocate Ashwini Upadhyay requested a bench headed by Chief Justice N.V. Ramana and comprising Justices A.S. Bopanna and Hima Kohli to list the petition urgently, against the backdrop of the ongoing election process. He contended that nomination for the first phase of the Uttar Pradesh Assembly election has started, and the political parties and candidates are brazenly violating the top court judgments.

After briefly hearing Upadhyay, the bench said: "We will consider it... will give a date".

Keep Reading Show less
Unsplash

In 2018, state heads of ASEAN countries graced the occasion with their presence.

There will be no chief guest at the Republic Day parade this year also as the plan to host state heads of five Central Asian countries -- Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan -- seems to have been cancelled due to the Covid situation in India as well as in the respective nations. Though the Ministry of External Affairs is yet to confirm this officially.

Also Read : Republic Day 2021: Significance of the Day and highlights of the Parade

Keep Reading Show less
Unsplash

Infection with antibiotic-resistant bacteria and biofilm formation halt healing progress.

A team of scientists from the Banaras Hindu University (BHU) have found a cure for those suffering from chronic wounds, particularly with diabetic foot ulcers. The team led by Prof Gopal Nath of the department of Microbiology, Institute of Medical Sciences, said that wounds that took months and years to heal, could now be cured in days or months. The findings of study have been published in the National Centre for Biotechnology Information, National Institutes of Health, US.

Also Read : Researchers develop Hydrogel to treat infections in wound

Keep reading... Show less