Oyo
OYO contributes to ‘Invest in Denmark’ with acquisition of Nordic based Bornholmske Feriehuse
New Delhi/Copenhagen/Bornholm: Travel and hospitality technology platform OYO said it has concluded the acquisition of Europe -based holiday homes operator Bornholmske Feriehuse through its subsidiary DanCenter, as a part of its endeavor to expand as a preferred full-stack vacation homes provider.
Bornholmske Feriehuse, which has over 700 homes on its platform, is based out of Bornholm island in Denmark and expected to clock more than 250,000 guest nights in 2022.
The acquisition underlines OYO’s commitment to ‘Invest in Denmark’ towards accelerating the growth of travel and tourism in the market, the company said in a statement.
‘Invest in Denmark’, an integral part of the Ministry of Foreign Affairs of Denmark, which aims to help attract and retain foreign investments in Denmark by providing a customized one-stop service for foreign companies, looking to set up or expand a business in Denmark.
OYO already owns brands such as Belvilla (Belvilla by OYO), DanCenter, Traum Ferienwohnungen, among others in Europe through its subsidiaries.
The acquisition in Bornholm will strengthen OYO’s presence in Europe broadly and Denmark specifically.
Anne Hougaard Jensen, Director, 'Invest in Denmark, said, “Invest in Denmark is pleased to support the continued investment from OYO. Investments in the tourism industry is important for the Danish economy, creating many direct and indirect jobs. Denmark offers good framework conditions for foreign investors and the opportunity to link local knowledge with international connections and expertise. We are happy that OYO chooses to grow its vacation home business out of Denmark.”
Talking about India-Denmark Relations, Freddy Svane, Danish Ambassador to India said, “The relationship between India and Denmark has never been stronger. Tourism and Culture plays an important role in building bridges between people and nations and I hope that this investment by OYO Rooms into the island of Bornholm will enable visitors to experience the strong focus on sustainable tourism in the region."
Speaking on the acquisition, Ritesh Agarwal, Founder and Group CEO, OYO said, “I feel elated as we welcome Rasmus and integrate Bornholmske Feriehuse under the brand OYO. Bornholm exhibits great potential for tourism in the coming years. We are happy to extend cooperation to the ‘Invest in Denmark’ initiative and work for the development of tourism in Bornholm and Denmark.”
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