Until now, OYO has relied on partnerships to develop its network and opportunities. It is time for Ritesh Agarwal to invest in Europe.
The Indian brand is ready to become number one worldwide within the next 5 years and its rapid growth (x 8.7 in 2018 for its number of rooms) is keeping pace with its ambitions. After developing actively in Asia and strongly investing on its domestic market (€600 million in China & €200 million in India), OYO is clearly targeting the European market. After creating dedicated products, OYO is investing to purchase @Leisure Group €369 million.
Who is @Leisure Group ?
A "vacation rental company in Europe [that] manages holiday homes, holiday parks, and holiday apartments."
Why @Leisure Group?
Because:
- "@Leisure Group is among the very few companies in the world with an OYO like full-stack approach to vacation rentals management, having built deep data-driven capabilities in revenue management, homeowner engagement, and property management services.
- By means of the acquisition, OYO’s capabilities of asset management and technology will be combined with the presence, local know-how and category-specific expertise of @Leisure Group in the sphere of vacation rentals."
A new stage in the growth and development of the international brand is made. Wait and see for the next one.
