The deal comes around four months after OYO acquired vacation rental company based in Amsterdam for Leisure Group for Rs 2,900 crore to boost its vacation rental business in Europe.
OYO Hotels & Homes on Monday announced the acquisition of Denmark-based data science company Danamica that specializes in dynamic pricing. The acquisition would allow, which claims to be the world’s third-largest hotel chain, to boost its vacation rentals business globally following its commitment to invest €300 million (around Rs 2,368 crore) in the vacation homes business in Europe. Danamica’s dynamic pricing ability would help OYO drive top-line growth across all its brands including OYO Home, Belvilla (holiday homes platform) and DanCenter (vacation rental marketplace) in Europe. Danamica is a machine learning and business intelligence company specializing in pricing time-expiring inventory such as rental of vacation homes.
The deal comes around four months after OYO acquired vacation rental company based in Amsterdam for Leisure Group for €360 million (nearly Rs 2,900 crore) to boost its vacation rental business in Europe. Danamica’s acquisition will help OYO to be “more accurate with pricing, leading to higher efficiencies and yield for our real estate owners and value for money for our millions of global guests,” Maninder Gulati, Global Head, OYO Vacation and Urban Homes, & Chief Strategy Officer, OYO Hotels & Homes said in a statement.
With the implementation of machine learning-based pricing and revenue management from Danamica, OYO users would be able to book a vacation home at the best possible price. OYO, however, has been expanded and strengthening its global operations even as it leads the hotel market in India. The company had last month partnered with the US-based hospitality investment and management company Highgate to create its first key flagship property in Las Vegas by rebranding Highgate’s Hooters Casino Hotel to OYO Hotel & Casino Las. In March this year, OYO had acquired a Beijing-based mid-tier hotel chain Qianyu Islands. It became the second-largest hotel chain in China in May this year by expanding to 320 cities having 10,000 hotels and 450,000 rooms.
OYO, launched in 2013 has a portfolio of 23,000 hotels and 125,000 vacation homes globally present in over 800 cities in 80 countries, including the U.S., Europe, U.K., India, Malaysia, Middle East, Indonesia, Philippines, and Japan.