May 9 (SeeNews) - Global travel tech company OYO said on Monday it has acquired Croatian vacation rental platform Direct Booker for an undisclosed sum, aiming to strengthen its presence in Europe.
"As OYO continues to expand as a preferred full-stack vacation homes provider, it has concluded the acquisition of Europe based company Direct Booker which has over 3200 homes and serviced 2 million customers so far," OYO said in a statement.
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Direct Booker did not respond to an e-mail from SeeNews seeking details about the value of the deal by the time this story was published. According to BusinessLine Online, the value of the acquisition is $5.5 million (5.2 million euro).
Direct Booker was set up in 2010 by Nikola Grubelic and Nino Dubretic, CEO & Founders. It is based in Dubrovnik, a key tourist destination in Croatia.
OYO already owns and operates brands such as Belvilla (Belvilla by OYO), DanCenter, and Traum Ferienwohnungen in Europe. Direct Booker’s inventory will be available on Belvilla.com and over time on its other platforms. This acquisition will strengthen OYO’s presence in Europe broadly and in Croatia specifically, where it already has nearly 1800 vacation homes on its Belvilla platform and over 7000 homes on its Traum Ferienwohnungen platform.
“Without a doubt, Croatia is one of the most popular upcoming tourist destinations in the Mediterranean for European travelers. The country’s tourism sector has taken a big stride towards recovery in 2021 and the potential for the current year is even higher,“ Mandar Vaidya, CEO of OYO Europe said in the statement.
($ = 0.946 euro)