OYO Vacation Homes, an Amsterdam-based vacation rentals company, has announced a major expansion throughout Europe, thanks to a partnership with Germany’s E-Domizil.
The partnership involves OYO claiming an ownership stake in TUI Ferienhaus, a vacation rentals platform recently acquired by E-Domizil for an undisclosed sum.
The acquisition will add over 17,000 properties to OYO’s portfolio, as recently reported by PhocusWire.
“Our acquisition strategy is focused towards building on our existing capabilities and with E-Domizil as a partner, we have found synergies to strengthen our presence across Europe,” said Tobias Wann, global chief executive officer of OYO Vacation Homes. “Through this acquisition, we are unlocking a sizable opportunity of adding over 17,000 units to our existing portfolio.”
OYO Vacation Homes began moving into Europe last year after purchasing rental brand @Leisure Group for 360 million Euros, giving the company 35,000 properties to manage throughout the continent.
The latest acquisition will enter the company into Germany, France and Italy, as well as expand its current operations in Poland, Greece, UK, Portugal, Norway, and the Czech Republic, as reported by Travel Daily Media.
“With Europe spearheading the vacation and urban home rental trend globally, OYO Vacation Homes is uniquely positioned to capitalize on its experience and insights aided with OYO’s proven approach towards building a large global vacation homes business,” Wann continued.
Europe is the largest vacation homes market in the world, accounting for nearly 40 percent of global supply. This being said, the sector has seen a number of strategic moves in recent years, with Airbnb, HomeAway and others moving in with their strong brands and online presence.
photo credit: oyo vacation homes