European division of Indian hospitality brand agrees deal for Croatian management firm
OYO bolsters position in holiday rentals sector with Direct Booker acquisition
Hospitality technology and hotel brand OYO has acquired Croatian holiday rental management company Direct Booker.
The deal was signed by OYO’s European business subsidiary OYO Vacation Homes (OVH). No financial details of the acquisition were announced.
Dubrovnik-based Direct Booker manages more than 3,200 vacation homes in Croatia and has served more than two million holidaymaker.
OVH already owns established holiday rental platforms such as Belvilla, DanCenter, and Traum Ferienwohnungen, among others.
The firm said the acquisition will “strengthen OVH’s presence in the strategically important Croatian tourism market, where it already has nearly 1,800 vacation homes on its Belvilla platform and more than 7,000 homes on the Traum Ferienwohnungen platform”.
OVH will promote all homes listed on Direct Booker via its Belvilla platform, providing customers with a wider choice of short-term stays.
OYO says it is “actively scouting” for acquisitions in the European market as part of its strategic growth strategy.
Dr Mandar Vaidya, chief executive of OYO Europe, said: “Without doubt, Croatia is one of the most popular tourist destinations in the Mediterranean for European travellers.
“The country's tourism sector has taken a big stride towards recovery in 2021 and the potential for the current year is even higher.
“We see a huge benefit in offering more holiday homes in the Dalmatian region. We are particularly excited about Dubrovnik, Croatia's most visited tourist destination, where we will significantly improve our footprint with this acquisition.
“Direct Booker is a great addition to our portfolio of hotels and homes in Croatia and across Europe.”
Nino Dubretic, chief executive and co-founder of Direct Booker, added: “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 across Europe.
“Being a part of OYO’s vast network will also increase visibility for the homes listed on our platform, especially across Scandinavia, Benelux, and surrounding countries. The next couple of months will be truly exciting as we work towards building our business together.”