A couple of months ago, OYO announced the acquisition of @Leisure Group to capitalise on the vacation rental industry in Europe. Today, OYO Vacation Homes is making big waves as it rebrands and commits EUR 300 million in the business, with a focus on empowering its homeowners — enabling them with the resources to deliver chic hospitality experiences.
Here’s what CEO Tobias Wann had to say about their strategy and expansion:
TD: How big is the task of rebranding?
So far, the rebranding to OYO Vacation Homes for our corporate and employer branding is going well. OYO is one of the fastest-growing and most admired hospitality brands in the world. This appeals to talented people, and as we are hiring many new colleagues, we benefit from OYO’s hyper-growth story.
As you may have seen our website has been updated accordingly and step-by-step other communication materials are getting there as well.
What are you doing to take it to the next level?
We benefit a great deal from the OYO name but OYO Vacations Homes also needs to develop its own identity and story. This is something we are building at the moment.
How successful has the group been so far?
Today, more than 2.8 million holidaymakers from over 118 countries experience their holiday every year with OYO Vacation Homes. OYO Vacation Homes is the world’s third-largest vacation home company with our leading brands Belvilla, DanCenter and Traum-Ferienwohnungen.
“OYO Vacation Homes has more than doubled its growth rate”
Since the acquisition in May, OYO Vacation Homes has more than doubled its growth rate. Outlooks for the rest of the year are even more positive and it is expected to accelerate even further in 2020.
In addition, increasing customer preference for OYO Vacation Homes inspired OYO Hotels and Homes to strengthens its focus on European vacation rental market and to commit to investing EUR 300 million.
To support our vision towards becoming the largest full-service vacation rental business globally, we will make significant investments to expand our footprint in the market. The growth strategy for OYO Vacation Homes is tailored towards offering guests a consistent top-notch holiday experience and becoming the partner of choice for homeowners.