OYO completes acquisition of Europe-based Direct Booker for $5.5 mn

Travel and hospitality platform OYO said it has concluded the acquisition of Europe-based company Direct Booker with the transaction valuing the acquired entity at $5.5 million.

A market-leading player in the vacation home management segment in Dubrovnik, Croatia, Direct Booker was started in 2010 by Nikola Grubelic and Nino Dubretic. The company has over 3,200 homes and serviced 2 million customers so far.

“Homes continue to be an important strategic segment for OYO. We have been able to add value to our over 140,000 Home Storefronts 1 globally and I am excited to welcome Nino, Nikola and the team at Direct Booker under the OYO umbrella," said Ankit Tandon, Global Chief Business Officer, OYO, adding the company continues to focus on going deep in Europe.

OYO has in the recent past declared its intent of actively scouting for ‘tuck-in’ acquisitions, especially in the European market as a strategic growth lever. OYO already has a strong footprint in The Netherlands, Denmark, Belgium, Germany, Austria etc.

OYO already owns and operates brands, such as Belvilla (Belvilla by OYO), DanCenter, Traum Ferienwohnungen, among others 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 Croatia specifically where it already has nearly 1,800 vacation homes on its Belvilla platform and over 7,000 homes on its Traum Ferienwohnungen platform.

“We are happy to join forces with a global travel tech company like OYO. We strongly believe that by merging our technologies and expertise, this partnership will positively impact the Croatian tourism economy, further driving demand through OYO’s existing platforms spread across Europe," said Dubretic, CEO & Co-Founder of Direct Booker.

"Being a part of OYO’s network will also increase visibility for the homes listed on our platform, especially across Scandinavian, Benelux and surrounding countries," he added.

OYO has a presence in over 35 countries and is the third most downloaded travel app in the world. With the acquisition of Direct Booker, the Dubrovnik-headquartered company will now become a part of the OYO platform with a presence across Europe.