OYO announced that it has completed the acquisition of Bornholmske Feriehuse, a provider of holiday homes based in Europe, through its subsidiary DanCenter. According to the company, the move is a part of its effort to become a full-stack holiday home provider.
More than 700 residences are available on Bornholmske Feriehuse’s platform, which is headquartered on the Danish island of Bornholm. Oyo stated that it anticipates exceeding 250,000 guest nights in 2022.
The company also stated that the purchase demonstrates its dedication to Denmark’s foreign affairs ministry’s ‘Invest in Denmark’ initiative. By offering a personalized one-stop solution for foreign enterprises wishing to establish or develop a business in Denmark, the program aims to attract and retain foreign investments.
Through its subsidiaries, Oyo already has well-known brands in Europe, including Belvilla (Belvilla by Oyo), DanCenter, and Traum Ferienwohnungen. It said that the newest acquisition would increase its presence in Denmark and across the continent of Europe.
Jacob and Rasmus Lund founded Bornholmske Feriehuse in 2002. It has 737-holiday homes spread out over 30-holiday parks and offers homeowners end-to-end solutions.
Oyo recently completed the acquisition of the European company “Direct Booker,” with more than 3,200 houses and 2 million clients served to date.
Anne Hougaard Jensen, director of Invest in Denmark, said, “Investments in the tourism industry are important for the Danish economy, creating many direct and indirect jobs. Denmark offers good framework conditions for foreign investors and the opportunity to link local knowledge with international connections and expertise. We are happy that Oyo chooses to grow its vacation home business out of Denmark.”
Ritesh Agarwal, Group CEO of OYO, said, “Bornholm Feriehuse exhibits great potential for tourism in the coming years. We are happy to extend cooperation to the Invest in Denmark initiative and work for the development of tourism in Bornholm and Denmark.”
The company’s guest nights have recently broken records, according to Rasmus Lund, director of Bornholmske Feriehuse, and demand for holiday homes from international visitors has been particularly strong.
“The collaboration with Oyo through DanCenter A/s, therefore, allows us to keep up with demand, just as our homeowners also benefit from the many online portals that DanCenter collaborates with. The agreement may help our many holiday home owners achieve a higher rental percentage, while also contributing income and jobs to Bornholm,” Rasmus said.
Rasmus Lund will continue to lead Bornholmske Feriehuse, according to OYO.
Furthermore, the number of overnight stays in Bornholm Feriehuse increased by almost 15% in 2017 compared to 2016, according to VisitDenmark’s most recent destination monitoring report.