Oyo acquires Denmark-based holiday home operator Bornholmske Feriehuse
NEW DELHI: IPO-bound travel and hospitality platform Oyo has acquired Denmark-based holiday home operator Bornholmske Feriehuse for an undisclosed amount. Bornholmske Feriehuse has 737-holiday homes spread over 30-holiday parks on its platform and expects to clock more than 2.5 lakh guest nights in 2022, Oyo said in a statement on Tuesday.
“Bornholm exhibits great potential for tourism in the coming years,” OYO founder and Group CEO Ritesh Agarwal said. The Softbank-backed firm has a presence in other European nations such as Netherlands, Belgium, Germany, Austria and Croatia.
The transaction has been carried out by the company’s subsidiary DanCenter through the ‘Invest in Denmark’ initiative by the Danish government. Founded in 2002 by Rasmus Lund and Jacob Lund, Bornholmske Feriehuse is a full stack operator providing end-to-end solutions to homeowners.
Lund will continue as director of Bornholmske Feriehuse and will grow operations further. He said the collaboration with OYO through DanCenter gives the opportunity to keep up with demand, just as homeowners also benefit from the many online portals that DanCenter collaborates with.
Going forward, holiday homes from Bornholmske Feriehuse will become available for booking through more than 130 online portals with which DanCenter works closely, OYO said. After a prolonged delay, Oyo is expected to hit the IPO market around the Diwali festive season or early next year. The firm, which had filed papers with market regulator Sebi last year to raise Rs 8,430 crore, through an initial public offering (IPO) is now expected to reduce the offered size.