OYO to buy out Leisure Group from Axel Springer for $415m

Photo: Mint

OYO Hotels & Homes has agreed to acquire Amsterdam-based @Leisure Group, a vacation rental company, from media and technology firm Axel Springer, for an estimated €369 million.

The acquisition is a significant move for the five-year old hospitality start-up as it would help expand its presence in Europe. It is currently present only in the UK with 30 hotels under its flagship brands OYO hotels and OYO townhouse.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter