Oyo, a travel and hospitality technology platform, announced on Monday that it has completed the acquisition of Direct Booker, a firm located in Europe, for $5.5 million (over Rs 40 crore). According to Oyo, Direct Booker has over 3,200 households and has served over 20 lakh consumers.
This purchase would help Oyo expand its foothold in Europe, particularly in Croatia, where it currently has almost 1,800 holiday homes on its Belvilla platform and over 7,000 houses on its Traum Ferienwohnungen platform, according to the company.
Direct Booker’s inventory will be available on Belvilla.com (Belvilla by Oyo) and, over time, on the firm’s other platforms, according to the company.
Houses continue to be a significant strategic area for Oyo, and its cutting-edge technology, distribution systems, and data sciences will provide more value to Direct Booker’s present 3,200 homes and increase collective growth in Europe, according to Oyo Global Chief Business Officer Ankit Tandon.
“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 recently stated its intention to actively seek for ‘tuck-in’ acquisitions as a strategic development lever, particularly in the European market. In the Netherlands, Denmark, Belgium, Germany, and Austria, it already has a significant presence.
Direct Booker CEO & cofounder Nino Dubretic said, “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.”
