Europe: OYO Vacation Homes has completed the acquisition of TUI Holiday Homes from e-domizil GmbH, in an extension of a deal announced at the start of the year.
In February, OYO Vacation Homes purchased TUI Wolters’ vacation rental business Wolters Reisen. This latest acquisition, however, will allow the company to significantly scale up its European business and expand its offering to more than 17,000 homes, strengthening its presence strategically in France, Germany, Austria and Italy in particular.
Operating a number of European brands such as Belvilla, DanCenter, Danland and Germany-based Traum-Ferienwohnungen, OYO Vacation Homes has established itself as one of the top three leading players in four of the continent’s key holiday home markets. Its existing portfolio accounts for more than 140,000 homes in leisure destinations, and is used by 50,000+ homeowners and 2.8 million guests every year.
OYO Vacation Homes anticipates that the purchase of TUI Holiday Homes will further cement its footprint in its principal European markets, ensuring it can capitalise on pent-up demand for private and secluded holiday homes.
Umbrella company OYO Hotels & Homes sees the holiday home sector as a prime opportunity to expand its operations in Europe, a market which accounts for between 30 and 40 per cent of its total supply of accommodations.
The TUI Holiday Homes purchase will also allow OYO Vacation Homes to explore further acquisition opportunities as part of a wider company strategy to provide high-level technology and yield management to its homeowners and partners, as well as to drive innovation and recruit top talent from around the world.
OYO Vacation Homes CEO Raj Kamal reiterated his desire to make the company the leading vacation rental agency in Europe, saying: “We are pursuing a solid growth strategy aimed at expanding our presence in Europe and the UK. This acquisition is a fundamental step in strengthening our position in Germany, Austria, France and Italy.
“In addition, we are particularly proud of the confidence that thousands of homeowners place in our management and implementation capabilities. We will do everything we can to ensure that our new homeowners feel part of the OVH family from Day One and are satisfied,” he added.
Detlev Schäferjohann, CEO of e-hoi Group, said: “Following the acquisition of the TUI Wolters company from TUI AG, the sale of the holiday home tour operator to OYO Vacation Homes has been a very successful transaction. This portfolio of fully managed vacation homes and the great team who manage this business are a huge enrichment for OYO Vacation Homes.
“At the same time, e-domizil will further focus on its modern OTA approach to holiday homes and the OTA real estate portfolio will be integrated. Building on the agreed strategic partnership agreement, both OYO and e-domizil will further focus on their respective core competencies in the fast-growing holiday home sector,” he added.
OYO Hotels & Homes first moved into the rental segment in May 2019, when it acquired Amsterdam-based vacation rental company @Leisure Group in a reported €360 million deal, which was then rebranded to its current name of OYO Vacation Homes that July.
Then in July this year, Tobias Wann stepped down as CEO of OYO’s vacation rental segment, when then-COO Raj Kamal took the reins with immediate effect.