OYO adds european vacations rentals to its portfolio with the acquisition of Bornholmske Feriehuse, a vacation home management company based on the Danish island of Bornholm.
The Danish company Bornholmske Feriehuse has more than 730 homes on its platform, which will now become part of DanCenter, OYO Vacation Homes’ brand. This OYO’s brand already offers about 8,000 properties throughout Scandinavia and northern Germany.
Despite the acquisition, Rasmus Lund, Bornholmske Feriehuse’s co-founder, will continue as director of the subsidiary and focus on growing the operations. Terms of the acquisition have not been disclosed for the moment.
This acquisition is part of OYO’s commitment to the Danish government’s “Invest in Denmark” initiative that aims to attract foreign investments to the country.
I feel elated as we welcome Rasmus and integrate Bornholmske Feriehuse under the brand OYO. Bornholm exhibits great potential for tourism in the coming years. We are happy to extend cooperation to the ‘Invest in Denmark’ initiative and work for the development of tourism in Bornholm and Denmark.
Ritesh Agarwal, OYO founder and group CEO
Our guest nights have broken records in recent years, and the demand from foreign guests in holiday homes has been particularly high. The collaboration with OYO through DanCenter therefore gives us the opportunity to keep up with demand, just as our homeowners also benefit from the many online portals that DanCenter collaborates with. The agreement may help our many holiday homeowners achieve a higher rental percentage, while also contributing income and jobs to Bornholm.
Rasmus Lund, Bornholmske Feriehuse co-founder
This is OYO’s second acquisition of a Europe-based vacation rental operator in recent months. In May, it acquired Direct Booker, a Croatia-based company with more than 3,000 homes.