Oyoon, a travel and hospitality technology business, said Monday that it has concluded the acquisition of ''Direct Booker,'' a global startup, with the transaction reporting that it valued the latter at $5.5 million (about Rs. 40 crore). Direct Booker has more than 3,200 homes and has provided services to 20 lakh customers, according to Oyoon.
This acquisition will strengthen Oyo''s presence in Europe broadly and Croatia, according to the company, where it already has 1,800 vacation homes on its Belvilla platform, and over 7,000 homes on its Traum Ferienwohnungen platform. The Direct Booker collection will be available on Belvilla.com (Belvilla by Oyo) and over time on its other platforms, according to the company.
Ankit Tandon, OyoGlobal''s chief business officer, said that homes continue to be a valuable strategic segment for Oyoand its cutting-edge technology, distribution systems, and data sciences will add more value to Direct Booker''s current 3,200 homes and strengthen collective growth in Europe.
"We continue to focus on extending beyond Europe and providing the best Vacation Home experiences to our customers," said Tandon, the lead author of the acquisition. Oyohad in the recent past stated its intention of actively scouting for "tuck-in" acquisitions, especially in the European market as a strategic growth lever. It already has a strong footprint in the Netherlands, Denmark, Belgium, Germany, and Austria.
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Nino Dubretic, the CEO and CEO of Direct Booker, said that by combining our technologies and expertise, this partnership will positively impact Croatia''s tourism economy, further driving demand through Oyo''s existing platforms across Europe." Being a member of Oyo''s network will also increase visibility for the homes listed on the Direct Booker platform, especially across Scandinavian, Benelux, and surrounding areas, according to Dubretic.