OYO Rooms, an Indian hospitality company, intends to purchase Netherlands' Leisure Group from German media and technology company Axel Springer for $415 million.
The deal will help Oyo move a step closer in realizing its vision of becoming a global real estate brand while maintaining leadership in the hospitality industry.
Through this acquisition, the size and scale of the opportunity will be immediately unlocked for Oyo's Homes business.
Additionally, for Oyo Hotels & Homes, the transaction is a perfect platform for driving forward further consolidation in its segment.