This transaction allows OYO to expand its presence in the European region while strengthening its position in the full-service holiday home market.
OYO has just completed the acquisition of Direct Booker, a European-based company with a portfolio of over 3,200 holiday homes, ensuring the resumption of development of its European portfolio after being deeply impacted by the health crisis.
Direct Booker, launched in 2010 by Nikola Grubelic and Nino Dubretic, has over 2,400 homes in the Dubrovnik region and over 800 elsewhere in Croatia, with rapid growth in new properties. These figures make Direct Booker a major actor in the management of holiday homes in Croatia. A destination that has seen exponential growth in tourist numbers over the past few years.
OYO already owns and operates brands such as Belvilla (Belvilla by OYO), DanCenter, Traum Ferienwohnungen, among others in Europe. The Direct Booker catalogue will be available on Belvilla.com (Belvilla by OYO) and, in time, on its other platforms.
This acquisition allows OYO to strengthen its presence in Europe and in particular in Croatia, where the brand already has nearly 1,800 holiday homes on its Belvilla platform and over 7,000 properties on its Traum Ferienwohnungen platform.
This acquisition follows the group's announcement that it is actively seeking tuck-in acquisitions, particularly in the European market, as a strategic growth lever.
Croatia is undoubtedly one of the next most popular tourist destinations in the Mediterranean for European travellers. The country's tourism sector has taken a big step towards recovery in 2021 and the potential for the current year is even higher. We see a huge advantage in offering more holiday homes in the Dalmatia region. We are particularly excited about Dubrovnik, Croatia's most visited tourist destination, where, with this acquisition, we will significantly improve our footprint. Direct Booker is an excellent addition to our portfolio of hotels and homes in Croatia and throughout Europe.
Mandar Vaidya, CEO of OYO Europe
We are pleased to join forces with a global travel technology company like OYO. We believe that by merging our technologies and expertise, this partnership will have a positive impact on the Croatian tourism economy, further stimulating demand through OYO's existing platforms across Europe. Being part of the OYO network will also increase the visibility of the accommodation listed on our platform, especially in the Scandinavian countries, Benelux and surrounding countries. The next two months will be really exciting as we work together to build our collaboration.
Nino Dubretic, CEO and co-founder of Direct Booker