With Europe spearheading the vacation and urban home rental trend globally, OYO is betting big on expanding in the continent. OYO Vacation Homes and its brand Belvilla, a vacation homes company today announced it has entered into a strategic alliance with German-based e-domizil, as it intends to acquire TUI’s vacation homes tour operator business.
e-domizil had recently announced to acquire the combined business TUI Wolters from TUI. The company itself operates in holiday home vacation rentals, cruise business and roundtrip services and will integrate the holiday homes online travel agency (OTA) business and roundtrip tour operator business from TUI Wolters. This acquisition is in line with OYO’s continued commitment to its vacation rentals business through strategic investments in products, services, talent and technology. The transaction is subject to customary conditions and approvals, in particular from the relevant antitrust authorities.
Globally, the vacation homes business presents OYO with a massive opportunity covering vacation rentals and urban homes. Europe is the largest market accounting for 30-40% of this total supply. OYO Vacation Homes offers international, domestic travellers and city dwellers access to around 35,000+ homes and services 90,000+ homes through its digital services business, in over 50 countries.
The acquisition will enable OYO to significantly further scale its vacation homes tour operator business in Europe by adding over 17,000 holiday homes units to a total of 50,000+ units and increase its presence from 22 countries to 26 countries.
The chain is now strengthening its footprint in Germany, France and Italy, entering into four new countries, as well as expanding its current base in Poland, Greece, UK, Portugal, Norway, and the Czech Republic.
“Adding over 17,000 units.”
Currently, it offers fully managed, beautiful private homes in great locations under multiple brands, including OYO Home, Belvilla, DanCenter, Danland, and the German-based Traum-Ferienwohnungen.
Commenting on the development, Tobias Wann, global chief executive officer of OYO Vacation Homes said: ‘’Our acquisition strategy is focused towards building on our existing capabilities and with e-domizil as a partner, we have found synergies to strengthen our presence across Europe. Through this acquisition, we are unlocking a sizable opportunity of adding over 17,000 units to our existing portfolio.”
“Following the acquisition of the entire TUI Wolters business, the sale of the holiday home tours operator business to OYO Vacation Homes rounds up a very successful transaction. While e-domizil will further strengthen and focus on an OTA approach to the holiday home business, the holiday home tour operator business fits best to our strategic partner OYO,” said Detlev Schäferjohann, CEO of e-hoi Group.