Detlev Schaferjohann, owner of E-Domizil, the previous owners of the homes, said:
“Following the acquisition of the entire TUI Wolters business, the sale of the holiday home tours operator business to OYO Vacation Homes rounds up a very successful transaction.”
The terms of the deal have not been made public as of this moment, nor has the amount that OYO paid.
It comes as OYO faces trouble in its core markets of India and China. Continuing its trend of layoffs, it recently let go over 350 people in the United States.
The company has come under criticism for the rapidity of its expansion, with industry insiders questioning whether the small hotel business can be conquered.
Tobias Wann, global CEO of OYO Vacation Homes said:
“At OYO, our acquisition strategy is focused towards building on our existing capabilities and with E-Domizil as a partner, we have found synergies to strengthen our presence across Europe."
Read more here