OYO continues to grow as one of the preferred providers of full-service vacation homes, with the completion of the acquisition of Direct Booker, a European-based company with a portfolio of over 3,200 homes and 2 million customers so far.
Direct Booker was launched in 2010 by Nikola Grubelic and Nino Dubretic, CEO and founders of the company, and has become a leading player in the holiday home management segment in Dubrovnik, a key tourist destination in Croatia.
OYO already owns and operates brands such as Belvilla (Belvilla by OYO), DanCenter, Traum Ferienwohnungen, among others in Europe. Direct Booker’s catalog will be available on Belvilla.com (Belvilla by OYO) and eventually on its other platforms. This acquisition will strengthen OYO’s presence in Europe and in particular in Croatia, where the brand already has nearly 1,800 holiday homes on its Belvilla platform and more than 7,000 properties on its Traum Ferienwohnungen platform.
Recently, OYO declared its intention to actively seek acquisitions of the type “ tuck in », in particular on the European market, as a lever for strategic growth. OYO already has a strong presence in France, the Netherlands, Denmark, Belgium, Germany, Austria, etc.
Explaining the benefits of integrating Direct Booker into OYO’s portfolio, Dr Mandar Vaidya, CEO of OYO Europe, said:
Croatia is undoubtedly one of the next most popular tourist destinations in the Mediterranean for European travelers. The country’s tourism sector has taken a big step towards recovery in 2021 and the potential for the current year is even higher. We see a huge advantage in offering more holiday homes in the Dalmatia region. We are particularly excited about Dubrovnik, the most visited tourist destination in Croatia, where with this acquisition we will significantly improve our footprint. Direct Booker is a great addition to our portfolio of hotels and homes in Croatia as well as across Europe.
Expressing his excitement to collaborate with OYO, Nino Dubretic, CEO and Co-Founder of Direct Booker, said:
We are happy to join forces with a global travel technology company like OYO. We are confident that by merging our technologies and expertise, this partnership will have a positive impact on the Croatian tourism economy, further stimulating demand through OYO’s existing platforms spread across Europe. Being part of the OYO network will also increase the visibility of the accommodations listed on our platform, in particular in the Scandinavian countries, the Benelux and surrounding countries. The next two months will be truly exciting as we work together to build our collaboration..
OYO is a next-generation technology platform, present in more than 35 countries and the third most downloaded travel application in the world. With the acquisition of Direct Booker, the Dubrovnik-based company will now become part of the OYO platform with a presence across Europe.
With a coastline of 6,278 km, Croatia is known for its islands, islets and reefs, making it one of the next most popular tourist destinations in Europe. It is one of the most visited destinations in the Mediterranean, with most tourists coming from Germany. This can be attributed to the high number of sunny days per year. In 2019, before the pandemic, Croatia welcomed nearly 19 million tourists. While COVID-19 has weakened tourism in the country, in 2021 it has seen a strong rebound. According to data published by the Croatian National Tourist Board, almost 14 million tourists visited Croatia in 2021, creating 84.1 million overnight stays. Overall, tourism contributes almost 12% to the country’s GDP.
OYO is a global platform that enables entrepreneurs and small businesses to operate hotels and homes by providing comprehensive technology that increases revenue and facilitates operations ; by providing easy-to-book, affordable and reliable accommodation to customers around the world. OYO offers more than 40 integrated products and solutions for patrons operating hotel and home storefronts in India, Europe and Southeast Asia, across 35 countries.
Oravel Stays Limited is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its equity shares (the “Equity Shares”) and has filed the Draft Red Herring Prospectus (“DRHP”) with the Securities and Exchange Board of India (“SEBI”). The DRHP is available on the website of SEBI at www.sebi.gov.in, websites of the Stock Exchanges, ie, BSE Limited and National Stock Exchange of India Limited at www.bseindia.com and www.nseindia.com, respectively, and is available on the websites of the Global Coordinators and Book Running Lead Managers, ie, Kotak Mahindra Capital Company Limited, JP Morgan India Private Limited and Citigroup Global Markets India Private Limited at www.investmentbank.kotak.com, www.jpmipl.com and www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm ; the websites of the Book Running Lead Managers, ie, ICICI Securities Limited, Nomura Financial Advisory and Securities (India) Private Limited, JM Financial Limited and Deutsche Equities India Private Limited at www.icicisecurities.com, www.nomuraholdings.com/company/ group/asia/india/index.html, www.jmfl.com and www.db.com/India, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, refer to the Red Herring Prospectus which may be filed with the Registrar of Companies in the future, including the section titled “Risk Factors”. Potential investors should not rely on the DRHP filed with SEBI for making any investment decision. The Equity Shares offered in the Fresh Issue (as defined in the DRHP) and the Offer for Sale (as defined in the DRHP) have not been and will not be registered under the US Securities Act of 1933, as amended (the “Securities Act ”) and, may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Accordingly, the Equity Shares are only being offered and sold (i) within the United States only to “qualified institutional buyers” (as defined in Rule 144A under the Securities Act) in transactions exempt from, or not subject to, the registration requirements under the Securities Act, and (ii) outside the United States in offshore transactions in reliance on Regulation S under the Securities Act and pursuant to the applicable laws of the jurisdictions where those offers and sales are made. There will be no public offering of the Equity Shares in the United States.