OYO has acquired property management company MadeComfy for $50 million.
Sharing the news on LinkedIn, the Australia-based company said it had grown into “one of the largest short-term rental managers in Australia and New Zealand” since being founded in 2015. The company works with more than 1,500 property managers, helping them list and manage properties on platforms including Airbnb.
Sabrina Schwaighofer, co-founder and co-CEO of the company, described the deal as “a big milestone and a moment of deep pride, reflection and gratitude.”
“It’s the result of tireless work, an incredible team and a vision we believed in even when it felt impossible,” she said.
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MadeComfy announced funding of $10 million led by Commencer Capital in May 2023. The company said the investment would go towards expansion across Australia as well as further development of its technology and data analytics platform.
OYO acquired G6 Hospitality, the parent company of Motel 6 and Studio 6 brands, for $525 million last year. The India-based accommodation platform has made other acquisitions including Croatia-based vacation rental business Direct Booker.