Global travel technology brand OYO recently announced the acquisition of Croatia’s leading vacation rental management company (VRMC), Direct Booker. The acquisition has been accomplished by OYO’s European business subsidiary, OYO Vacation Homes (OVH).
Commenced in 2010 by Nikola Grubelic and Nino Dubretic, Direct Booker claims to be a market leader in the VRMC segment in Dubrovnik, a leading tourist destination in Croatia. The platform currently manages more than 3,200 vacation homes in Croatia and has served more than 2 million holidaymakers to date.
OYO’s subsidiary OVH is stated to have already held established vacation rental platforms like Belvilla, DanCenter, and Traum Ferienwohnungen, among others. According to the firm’s sources, this acquisition will boost OVH’s presence in the strategically important Croatian tourism market, where it already has nearly 1,800 vacation homes on its Belvilla platform and more than 7,000 homes on the Traum Ferienwohnungen platform.
OVH will promote all vacation homes listed on Direct Booker via its Belvilla platform, offering its clients a broader prospect of short-term stays in the highly popular tourist destination of Dubrovnik, as well as throughout the rest of Croatia.
OYO has recently declared its intention of actively scouting for ‘tuck-in’ acquisitions, especially in the European market as a strategic growth lever. OVH already has a robust footprint in the Netherlands, France, Denmark, Belgium, Germany, Austria, Spain, and Italy.
Dr. Mandar Vaidya, CEO of OYO Europe, explained the benefits of having Direct Booker as a part of the OVH portfolio and commented: “Without doubt, Croatia is one of the most popular tourist destinations in the Mediterranean for European travelers. The country’s tourism sector has taken a big stride towards recovery in 2021 and the potential for the current year is even higher. We see a huge benefit in offering more holiday homes in the Dalmatian region. We are particularly excited about Dubrovnik, Croatia’s most visited tourist destination, where we will significantly improve our footprint with this acquisition. Direct Booker is a great addition to our portfolio of hotels and homes in Croatia and across Europe.”
Nino Dubretic, CEO & Co-Founder of Direct Booker expressed his enthusiasm for being a part of a global travel tech company stating: “We are happy to join forces with a global travel tech company like OYO. We strongly believe that by merging our technologies and expertise, this partnership will positively impact the Croatian tourism economy, further driving demand through OYO’s existing platforms across Europe. Being a part of OYO’s vast network will also increase visibility for the homes listed on our platform, especially across Scandinavia, Benelux, and surrounding countries. The next couple of months will be truly exciting as we work towards building our business together.”
OYO claims to be a global travel technology platform spread across 35 nations and the third-largest travel app globally post Booking.com and Airbnb. With OYO’s acquisition of Direct Booker, the Dubrovnik-headquartered firm will now become a part of a global entity with a vast presence across Europe. OYO is backed by a diverse group of globally renowned investors such as Softbank, Airbnb, and Microsoft, among many others.