Perhaps, initially, not the most obvious move for the hugely ambitious OYO Rooms but the company will soon be the owner of European private accommodation service @Leisure.
The €360 million deal announced earlier this month is the first big international investment by India-based OYO and puts it feet first in the Europe market for that particular sector of the industry.
As a reminder, @Leisure Group has more than 30,000 fully managed rental properties across Europe, operating nine brands including Belvilla, DanCenter and Danland.
A subscription-based home management service under the Traum-Ferienwohnungen brand has 85,000 homes in 50 countries and was also part of the acquisition.
The deal was is in two parts, with German media and internet giant Axel Springer selling its 51% stake in the business for €180 million and the rest going to other shareholders. Axel Springer invested in @Leisure five years ago.
@Leisure's CEO Tobias Wann, who will become CEO for vacation homes at OYO Global, joined the company in 2015 after four years at HomeAway.
He agreed to speak to PhocusWire during the recent Phocuswright Europe event in Amsterdam.
In the interview he talks about how the deal came together and what it means for the vacation rental sector as a whole and OYO in particular.
PhocusWire @ Phocuswright Europe 2019 - Under The Hood With @Leisure