It will bring 737 vacation houses managed by Bornholmske to the OYO’s collection.
The deal was implemented by the Danish government’s “Invest in Danemark initiative.
As part of the agreement, Bornholmske Feriehuse director Rasmus Lund will be able to continue leading the company.
Major hotel chain OYO today (August 9) announced that it had acquired Danish vacation home manufacturer Bornholmske Feriehuse. The company didn’t reveal the cost of the acquisition.
The acquisition will help OYO expand its footprint in Bornholmske, and allow the company to serve more customers who visit these holiday homes. The acquisition will also include 737 vacation properties operated by Bornholmske to OYO’s collection of.
The transaction was completed through OYO via the company’s European company subsidiary DanCentre.
The agreement was executed by the Danish government’s “Invest in Denmark initiative which is designed to offer a single-point of contact for foreign companies looking to set up or expand their presence within the country.
“I am thrilled to are delighted to welcome Rasmus and incorporate Bornholmske Feriehuse under the brand OYO. Bornholm is a great place to develop tourism over the next few years. We are delighted to join forces with the “Invest in Denmark initiative and to work to promote the growth of tourism in Bornholm as well as Denmark,” OYO group chief executive officer (CEO) Ritesh Agarwal said.
The deal Bornholmske Feriehuse director and cofounder Rasmus Lund will continue to oversee the company and develop the company’s operations.
Established in 2002 in 2002 by Rasmus And Jacob Lund, Bornholmske Feriehuse is a full-stack operator offering complete solutions for homeowners. The company lets users rent vacation homes through permitting owners to post their properties for sale and earn an income from total sales.
It will permit additional OYO properties to be listed on the platform, and allow customers to book their rooms.
“In the near future the holiday homes at Bornholmske Feriehuse will become available to book through more than 130 web portals that DanCenter is working closely. Additionally, Bornholmske Feriehuse now has more holiday houses and holiday homes, which is an excellent development for the concept that has previously included holiday homes and centers as its main focus,” OYO said in an announcement.
It comes just a few some months after OYO completed the acquisition of the Europe-based holiday rental firm Direct Booker for an undisclosed amount.
The major in hospitality is a major player in European countries like those in the Netherlands, Belgium, Germany, Austria, Croatia, in addition to. In total, OYO offered its services in more than 35 countries as of the close of March 2021.
The unicorn also provides more than 40 products and services to its customers who operate more than 1.57 Lakh hotels and home stores in countries like India, Europe, and Southeast Asia.
It was said that the hotel company’s chief marketing officer for the world Rohit Kapoor quit the startup and was set to accept a higher-level post at the foodtech giant Swiggy.
The tourism and hotel industry was expected to hit the $722 billion mark at 2022’s close. On similar lines, Indian tourism and hospitality was expected to earn as much as $50.9 Billion from foreign tourists until the end of 2028.