Indian hospitality group OYO has bought a self-catering home rentals business in continental Europe, possibly as a nod to its recent investor, AirBnB. OYO has acquired @Leisure Group (and the "@" is part of its name) from Axel Springer for about $415 million (£326 million).
I can vouch for the quality of one of the acquired brands, Danland, having stayed with my family to the brilliant Danland family village in Karrebæksminde in Denmark.
OYO, the fast-growing budget hotel startup out of India that’s backed by Airbnb, SoftBank, Grab and Didi, has made an acquisition to expand its footprint into Europe, specifically around self-catering home rentals. The company has picked up @Leisure Group from Axel Springer for about $415 million (€369.5 million). @Leisure (the @ is a part of its name) ... operates through various sub-brands, including Belvilla, DanCenter, Danland and Traum-Ferienwohnungen, and last year it posted Ebitda of more than €24 million, Axel Springer said.