Oyo Now Expands in Europe
Oyo hotels will be buying Europen Rental firm @Leisure
Founded by Ritesh Agarwal who was only 25 years old in 2013, Oyo is the world's sixth largest hotel chain. They are one of India's fastest growing hotel chains, with hotels in China, USA and UK. They have received funding from Japanese bank SoftBank and AirBnb. Valuing the company at $5 Billion. Last month they received funding from Airbnb for $200 million, The company will be purchasing @Leisure which is a European company for $415 million .
The company has a similar business like Oyo Hotels and will be a good addition to the group.
@Leisure company has more than 30,000 holiday homes in 13 countries, and another 50,000 properties in 50 countries
Oyo hotels already has over 600,000 hotel rooms around the world they plan to grow in the home renting business in Europe with this purchase. Oyo hotels said in a statement they want to achieve the goal of “becoming a global real estate brand while maintaining leadership in the hospitality industry”.