OYO Vacation Homes and its brand Belvilla has announced that it has entered into a strategic alliance with Germany based e-domizil GmbH, to acquire TUI’s vacation homes tour operator business. e-domizil has recently announced to acquire from TUI the combined business TUI Wolters GmbH. The parties have agreed not to disclose the purchase price.
The acquisition will enable OYO to significantly further scale its vacation homes tour operator business in Europe by adding over 17,000 holiday homes units to a total of 50,000+ units, and increase its presence from 22 countries to 26 countries. OYO is strengthening its footprint in Germany, France and Italy, entering into 4 new countries, as well as expanding its current base in Poland, Greece, the United Kingdom, Portugal, Norway, and the Czech Republic. Currently, the company offers fully-managed, beautiful private homes in great locations under multiple brands, including OYO Home, Belvilla, DanCenter, Danland, and the Germany-based Traum-Ferienwohnungen.
The acquisition of TUI´s holiday homes tour operator business follows e-domizil’s recently announced purchase of 100% equity in TUI AG’s subsidiary Wolters Reisen GmbH, including its three business segments: roundtrip tours operator (TO Business), holiday homes tour operator (HH TO Business), and holiday homes online travel agency (OTA Business). With the proposed acquisition of the holiday homes tour operator business, which is expected to complete during the first half of 2020, OYO Vacation Homes and its brand Belvilla will fully take over HH TO part of the former Wolters Reisen GmbH. It will enable the OYO Vacation Homes group to drive top-line growth through sustainable and profitable investments.
Commenting on the development, Tobias Wann, Global Chief Executive Officer OYO Vacation Homes said, “At OYO, our acquisition strategy is focused towards building on our existing capabilities and with e-domizil as a partner, we have found synergies to strengthen our presence across Europe. Through this acquisition, we are unlocking a sizable opportunity of adding over 17,000 units to our existing portfolio and delivering a high-quality customer experience to thousands of guests who choose us every day. We are overwhelmed by the trust and confidence thousands of homeowners across Europe have on OYO’s execution and revenue management capabilities and are excited to extend our unique proposition to the new members joining the OYO Vacation Homes family.’’
OYO has been investing in technology and talent and recently welcomed Raj Kamal as Chief Operating Officer of OYO Vacation Homes in the UK and Europe partnering with Tobias Wann, Global Chief Executive Officer OYO Vacation Homes. The appointment comes as part of the company’s efforts to attract world-class leadership, to drive innovation and growth.
Detlev Schäferjohann, CEO of e-hoi Group, commented, “Following the acquisition of the entire TUI Wolters business, the sale of the holiday home tours operator business to OYO Vacation Homes rounds up a very successful transaction. While e-domizil will further strengthen and focus on an OTA approach to the holiday home business, the holiday home tour operator business fits best to our strategic partner OYO. In addition, e-domizil is looking forward to developing a very strong and profitable roundtrips business in combination with the e-kolumbus OTA.”
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