OYO Vacation Homes owned by OYO Hotels and Homes will now receive increasing focus from the parent company in its operations in Europe. OYO is investing up to €300 million in this vacation home rental business. There are multiple brands already functioning within the OYO umbrella; these include Belvilla, DanCenter, Danland, and Traum-Ferienwohnungen (Germany).
The investments being made now will be towards strengthening the infrastructure and facilities of the homes. The objective is to make the experience better for the customers. Each of the above-mentioned brands along with the parent OYO Home brand will now be aggressively promoted across Europe
OYO Vacation Home has chalked out a plan under which they will look at improving the facilities being offered by their homeowner partners. The plan will be to make these vacation rental appeal to the entire cross section of travellers, young and old. The focus will also on keeping the requirements of tourists from diverse geographies travelling to Europe. The investments being proposed will include amenities like swimming pools and sauna wherever required as well as providing appliances like air conditioners to the property owners as part of sprucing up their homes.
Alongside this, the technology angle will also be looked at with the website for making the bookings being updated.
Tobias Wann, CEO, OYO Vacation Homes, says, “To support our vision towards becoming the largest full-service vacation rental business, we will make significant investments to expand our footprint in the market. We are focusing on enhancing our customer proposition to not just families but new age millennials and young executives, traveling for business or leisure, including consumers from newer geographies who travel to Europe from across the world including US, Asia, China and the Middle East. Consistently offering chic-looking, well-managed and organized holiday homes to our guests as well as opening doors to more vacation rentals will help unlock our next growth phase. With a goal of becoming the largest vacation rentals business in Europe, OYO Vacation Homes will continue to make significant investments in resourcing and manpower towards growing its existing footprint in the market.”
OYO Vacation Homes has its headquarters in Amsterdam and offices in Switzerland, Spain, Italy, Netherlands and France. After the company acquired the @Leisure Group has over 125,000 homes, across 800+ cities, and 80+ countries across the world, including in Europe, Asia and North America.
Parent OYO Hotels & Homes, boasts of a portfolio that combines fully operated real estate comprising more than 23,000 hotels and 125,000 vacation homes, with over 1 million rooms, globally.