OYO Vacation Homes acquires TUI vacation rental business
The company has completed the acquisition of the TUI Holiday Homes business earlier this monyh which was announced at the beginning of this year. The acquisition will strategically reinforce the company's footprint in Germany, Austria, France and Italy in particular.
- OYO Vacation Homes further adds around 17,000 units to its existing portfolio of more than 140,000+ vacation homes of 50.000+ homeowners in 70 countries.
- The home rental expert will scale its pan-European vacation homes business and solidify its position as one of Europe's leading vacation homes companies.
Zurich - In line with the growing popularity of holiday homes among European travellers, OYO Vacation Homes (OVH) continues to expand its pan-European business. As announced at the beginning of this year, the company has acquired the TUI Holiday Homes business from e-domizil GmbH and will continue to seek further opportunities for acquisitions as part of its effort to bring its technology and world class revenue management capabilities to many more homeowners and partners, to drive innovation, and to attract world-class talent.
The acquisition enables OYO Vacation Homes to significantly scale its vacation homes business in Europe by adding more than 17,000 homes and becoming a top 3 player in four more key vacation markets. The TUI holiday homes fit perfectly to the 140.000+ existing portfolio of the different types of homes situated in all kinds of spots close to nature, like the beach, the mountains and in the forest. This will enable the company even more to serve the fast growing demand for holiday homes, as this is considered one of the safest ways to spend a holiday, which is also noticeable in the large demand for next year. Many people seem to book early to secure their favorite holiday home which can easily be done by using the large variety of search criteria on the website.
Globally, the vacation homes business presents OYO Hotels and Homes with a massive opportunity in Europe, a market that accounts for 30-40% of the total supply in the world.
Countries presence TUI holiday homes
With this strategic purchase OYO Vacation Homes is strengthening its footprint especially in Germany, Austria, France and Italy. The company offers fully managed, beautiful private homes in great locations under multiple brands, including Belvilla, DanCenter, Danland, and the Germany-based Traum-Ferienwohnungen. With over 50.000 homeowners and 2,8 million guests annually OVH is already a large player on the European holiday home market.
"At OYO Vacation Homes we want to be the premier vacation rental business and we are following a solid growth strategy aimed at expanding our presence in Europe and the UK", says Raj Kamal, CEO OYO Vacation Homes. "This acquisition is a fundamental step towards reinforcing our footprint in Germany, Austria, France and Italy. Furthermore, we are particularly proud of the confidence that thousands of homeowners continue to have in our management and executing capabilities. We are going to do our utmost to ensure our new homeowners feel part of the OVH family and satisfied from the very first moment".
"Following the acquisition of the entire TUI Wolters business from TUI AG, the sale of the holiday home tour operator business to OYO Vacation Homes rounds up a very successful transaction. This portfolio of fully managed holiday homes and the great team managing this business will enrich OYO Vacation Homes. At the same time e-domizil will further strengthen and focus on its modern OTA approach to the holiday home business integrating the OTA property portfolio. Building on the agreed upon strategic partnership agreement both OYO and e-domizil will further concentrate and strengthen the respective key competencies in the fast growing holiday home industry", comments Detlev Schäferjohann, CEO of e-hoi Gruppe.
About OYO Hotels & Homes
About OYO: Opening its doors in 2013, OYO Hotels & Homes, a young hotel startup, today is one of the world's leading chain of hotels, homes, and spaces. The portfolio combines fully operated real estate comprising more than 43,000 hotels with over 1 million rooms. Through its vacation homes business, the company offers travellers and city dwellers access to over 130,000 homes around the world under the OYO Home, Belvilla, Danland, Dancenter and Germany-based Traum-Ferienwohnungen brands. OYO today operates in over 800 cities in 80 countries, including the U.S., Europe, U.K., India, Middle East, Southeast Asia, and Japan. For more information, visit www.oyorooms.com