Oyo Says It Has Acquired Direct Booker for $5.5 Million

Travel and hospitality know-how platform Oyo on Monday stated it has concluded the acquisition of Europe-based firm ‘Direct Booker’ with the transaction valuing the latter at round $5.5 million (roughly Rs. 40 crore). Direct Booker has over 3,200 properties and serviced 20 lakh prospects to this point, Oyo stated in a press release.

This acquisition will strengthen Oyo’s presence in Europe broadly and Croatia particularly the place it already has practically 1,800 trip properties on its Belvilla platform and over 7,000 properties on its Traum Ferienwohnungen platform, it added. The stock of Direct Booker will probably be obtainable on Belvilla.com (Belvilla by Oyo) and over time on its different platforms, the corporate stated.

Commenting on the acquisition, Oyo Global Chief Business Officer, Ankit Tandon stated, properties proceed to be an essential strategic phase for Oyo and its innovative know-how, distribution programs and information sciences will add extra worth to Direct Booker’s present 3,200 properties and improve collective progress in Europe.

“We continue to focus on going deep in Europe and delivering the best Vacation Home experiences to our customers,” added Tandon, who led the acquisition. Oyo had within the latest previous declared its intent of actively scouting for ‘tuck-in’ acquisitions, particularly within the European market as a strategic progress lever. It already has a robust footprint within the Netherlands, Denmark, Belgium, Germany and Austria.

Direct Booker CEO & Co-Founder Nino Dubretic stated, “We strongly believe that by merging our technologies and expertise, this partnership will positively impact the Croatian tourism economy, further driving demand through Oyo’s existing platforms spread across Europe.” Being part of Oyo’s community may also enhance visibility for the properties listed on Direct Booker platform, particularly throughout Scandinavian, Benelux and surrounding nations, Dubretic added.