Indian hospitality group OYO has bought a self-catering home rentals business in continental Europe, possibly as a nod to its recent investor, Airbnb. OYO has acquired @Leisure Group (and the "@" is part of its name) from Axel Springer for about $415 million (£326 million).
Alex Springer is also one of German's biggest news media publishers, the company behind the tabloid popular newspaper Bild Zeitung and the broadsheet daily Die Welt.
I can vouch for the quality of one of the acquired brands, Danland, having stayed with my family to the brilliant Danland family village in Karrebæksminde in Denmark.
OYO, the fast-growing budget hotel startup out of India that’s backed by Airbnb, SoftBank, Grab and Didi, has made an acquisition to expand its footprint into Europe, specifically around self-catering home rentals. The company has picked up @Leisure Group from Axel Springer for about $415 million (€369.5 million). @Leisure (the @ is a part of its name) ... operates through various sub-brands, including Belvilla, DanCenter, Danland and Traum-Ferienwohnungen, and last year it posted Ebitda of more than €24 million, Axel Springer said.
https://techcrunch.com/2019/05/01/airbnb-backed-oyo-moves-into-europe-acquires-leisure-from-axel-springer-for-415m/?guccounter=1&guce_referrer_us=aHR0cHM6Ly93d3cubGlua2VkaW4uY29tL2ZlZWQv&guce_referrer_cs=toCF7m3ZWu4xPsfs3DItuw
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