Hospitality unicorn Oyo said it has concluded the acquisition of Europe-based holiday homes operator, Bornholmske Feriehuse, through its subsidiary, DanCenter, as a part of its endeavour to expand as a preferred full-stack vacation homes provider.
Bornholmske Feriehuse, which has over 700 homes on its platform, is based out of Bornholm island in Denmark, and is expected to clock more than 250,000 guest nights in 2022.
The acquisition underlines OYO’s commitment to ‘Invest in Denmark’ for accelerating the growth of travel and tourism in the market. The initiative by the Ministry of Foreign Affairs of Denmark is intended to attract and retain foreign investments in Denmark by providing a customised one-stop service for foreign companies looking to set up or expand a business in Denmark.
Ritesh Agarwal, Founder and Group CEO, Oyo, said: “I feel elated as we welcome Rasmus and integrate Bornholmske Feriehuse under the brand OYO. Bornholm exhibits great potential for tourism in the coming years. We are happy to extend cooperation to the ‘Invest in Denmark’ initiative and work for the development of tourism in Bornholm and Denmark.”
OYO already owns brands such as Belvilla (Belvilla by OYO), DanCenter, and Traum Ferienwohnungen, among others, in Europe through its subsidiaries. The acquisition in Bornholm will strengthen OYO’s presence in Europe broadly and Denmark specifically, said the company.
Anne Hougaard Jensen, Director, ‘Invest in Denmark, said: “Invest in Denmark is pleased to support the continued investment from OYO. Investments in the tourism industry is important for the Danish economy, creating many direct and indirect jobs. We are happy that OYO chooses to grow its vacation home business out of Denmark.”