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India’s Largest Hotel Chain OYO to Acquire Amsterdam-based @Leisure Group for $415 mn

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

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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.

Representational image.

@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.

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“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)

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OYO Launches Lighter Version of its App for Android Users

OYO today has footprint in more than 800 cities across 24 countries

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Oyo
India’s largest hotel chain OYO on Thursday announced the global launch of a lighter version of its app — “Oyo Lite” — for the Android users.
Designed to work in areas of low connectivity, the “OYO Lite” app is sized just 800KB, which is less than 7 per cent of the size of the current OYO app, the company said in a statement.
“OYO Lite has been designed as a solution to connectivity and storage constraints on phones. We feel that this product would be ideal for travellers who are remotely connected to the Internet as well as those with basic smartphones,” said Anil Goel, Chief Technology Officer, OYO Hotels and Homes.
The app also features an in-app SOS button to ensure assistance from the on-ground hotel staff as well as from 24×7 OYO Safety Response Team (SRT).
Oyo
Oyo mobile app.
The button is also capable to initiate a call with local law enforcement authorities across the country, the company added.
OYO, however, did not elaborate on plans to make the Lite app available for iOS users.
OYO today has footprint in more than 800 cities across 24 countries.
With over 18,000 buildings and 636,000 units under management and more than 45,000-holiday homes, the company is backed by leading investors, including the SoftBank Vision Fund, Sequoia Capital, Lightspeed Ventures, Hero Enterprise and China Lodging Group. (IANS)