OYO to invest €300 mn on European vacation rental market
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OYO Hotels and Homes is set to strengthen its focus in Europe on OYO Vacation Homes and the vacation rental market. This decision follows the rapid growth of the recently acquired brands Belvilla, DanCenter, Danland, and Traum-Ferienwohnungen, combined with the many opportunities still to be capitalized within the vacation rental industry.
The company has committed to invest €300 million in the business, with a special focus on strengthening the relationship with homeowners and enabling them with the resources required to deliver chic hospitality experiences.
Tobias Wann, CEO, OYO Vacation Homes, says: “To support our vision towards becoming the largest full-service vacation rental business, we will make significant investments to expand our footprint in the market. We are focusing on enhancing our customer proposition to not just families but new age millennials and young executives, traveling for business or leisure, including consumers from newer geographies who travel to Europe from across the world including US, Asia, China and the Middle East. Consistently offering chic-looking, well-managed and organized holiday homes to our guests as well as opening doors to more vacation rentals will help unlock our next growth phase. With a goal of becoming the largest vacation rentals business in Europe, OYO Vacation Homes will continue to make significant investments in resourcing and manpower towards growing its existing footprint in the market.”