Oyo completes the acquisition of the European company Direct Booker

New Delhi: Technology platform for travel and hospitality Oyo Monday said it had concluded the acquisition of the European firm “Direct Booker” with the transaction valuing the latter at around $ 5.5 million (over Rs 40 crore). Direct bookings has more than 3,200 homes and has served 20 lakh customers so far, Oyo said in a statement.

This acquisition will strengthen Oyo’s presence in Europe and specifically in Croatia, where it already has nearly 1,800 vacation homes on its Belvilla platform and over 7,000 homes on its Traum Ferienwohnungen platform, he added.

Direct Booker’s inventory will be available on Belvilla.com (Belvilla by Oyo) and over time on its other platforms, the company said.

Commenting on the acquisition, Ankit Tandon, Chief Business Officer of Oyo Global, said that homes continue to be an important strategic segment for Oyo and its cutting-edge technology, distribution systems and data sciences will add more value to the current 3,200 Direct Booker houses and will enhance collective growth in Europe.

“We continue to focus on deepening Europe and delivering the best Vacation Home experiences to our customers,” added Tandon, who led the acquisition.

In the recent past, Oyo had declared its intention to actively seek “folded” acquisitions, especially in the European market as a strategic lever for growth. It already has a strong presence in the Netherlands, Denmark, Belgium, Germany and Austria.

Discover the stories of your interest

Direct Booker CEO and Co-Founder Nino Dubretic said: “We strongly believe that, by combining our technologies and expertise, this partnership will have a positive impact on the Croatian tourism economy, further driving demand through Oyo’s existing platforms spread across the country. all of Europe “.

Being part of the Oyo network will also increase visibility for homes listed on the Direct Booker platform, particularly in Scandinavian countries, the Benelux and surrounding countries, Dubretic added.

Stay on top technology Other startup news what matters. subscribe to our daily newsletter for the latest and greatest tech news, delivered straight to your inbox.