SoftBank-backed hotel company OYO is looking to take on rivals, including Airbnb, with the €369.5m ($415m) acquisition of Amsterdam-based @Leisure Group. OYO's portfolio includes almost 500,000 rooms across eight countries, and the purchase would add more than 30,000 holiday homes in 13 countries, as well as 85,000 subscription-based properties across 50 nations. The company, based near Delhi, is growing faster than the world's top three hotel chains, and aims to become a global market leader. The acquisition is set to close in last month.
SoftBank-backed hotel company OYO is looking to take on rivals, including Airbnb, with the €369.5m ($415m) acquisition of Amsterdam-based @Leisure Group. OYO's portfolio includes almost 500,000 rooms across eight countries, and the purchase would add more than 30,000 holiday homes in 13 countries, as well as 85,000 subscription-based properties across 50 nations. The company, based near Delhi, is growing faster than the world's top three hotel chains, and aims to become a global market leader. The acquisition is set to close in June.