SoftBank - backed hotel company OYO is looking to expand on rivals , including Airbnb , with the € 369.5 m ( $ 415 m ) acquisition of Amsterdam - based @Leisure Group . OYO 's portfolio includes almost 700 rooms across eight continents , and the purchase will 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 50 hotel chains , and aims to become a global market leader . The acquisition is set to close in June .
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.