OYO to acquire Amsterdam-based Company

Hospitality firm OYO has agreed to acquire Amsterdam-based vacation rental company Leisure Group from Axel Springer for an estimated USD 415 million (over Rs 2,885 crore). The acquisition will help OYO move a step closer in realising its vision of becoming a global real estate brand while maintaining leadership in the hospitality industry, OYO said in a statement. Leisure Group is a leading vacation rental company in Europe and manages holiday homes, holiday parks and holiday apartments, it added.