OYO Acquires Croatia-Based Hospitality Service Provider Direct Booker
OYO Rooms has acquired Direct Booker, a Croatia-based Hospitality Service Provider, which has more than 3200 homes and has serviced 2 million customers so far.
As per an official statement from the company, the transaction valued Direct Booker at $5.5 Mn.
With the acquisition, Direct Booker will become a part of the OYO platform with a presence across Europe. Additionally, Direct Booker’s inventory will now feature on Belvilla by OYO, with plans to transition to other platforms in due time.
OYO Acquires Direct Booker
Founded by Nikola Grubelic and Nino Dubretic in 2010, Direct Booker is among the world’s top 10 vacation rental companies & technology developers. It offers vacation home management services in Dubrovnik, an important tourist destination in Croatia.
As per the Gurugram-based hospitality unicorn, the acquisition will strengthen its presence in Europe, primarily in Croatia, where it already has nearly 1800 vacation homes on its Belvilla platform and more than 7000 homes on its Traum Ferienwohnungen platform.
In Europe, OYO has a footprint in The Netherlands, Denmark, Belgium, Germany, Austria, and now Croatia, among other countries.
Speaking about the development, Nino Dubretic, CEO & co-founder of Direct Booker, said,
“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.”
Founded by Ritesh Agarwal in 2013, OYO has a presence across 35 countries. The Gurugram-based hospitality unicorn last raised $5 Mn from US tech giant Microsoft at a valuation of $9 Bn.
In July 2021, OYO closed $660 Mn in loan funding from global institutional investors. On October 1, 2021, the startup filed its draft red herring prospectus (DRHP) with the market regulator SEBI. OYO seeks to raise INR 8,430 Cr ($1.2 Bn) through its IPO.
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