Oyo acquires Europe-based Direct Booker

Hospitality giant Oyo announced that it has acquired Europe-based vacation rental company Direct Booker for about $5.5 million. This appears to be the first acquisition by the SoftBank-backed company since the first wave of Covid-19.

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

According to Oyo, the inventory of Direct Booker will be available on Belvilla.com (Belvilla by Oyo) and over time on its other platforms.

Direct Booker's portfolio consists of vacation rental solutions, rental management, rental booking, rental Software, and rental franchise. The company claims to have over 3,200 homes and serviced 20 lakh customers so far.

In 2019. Oyo expanded in Europe with the purchase of an Amsterdam-based vacation rental firm Leisure Group. The company already has a presence in the continent including the Netherlands, Denmark, Belgium, Germany and Austria.