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OYO, the global hospitality company, has recently expanded its portfolio by acquiring Checkmyguest, a Paris-based premium rental homes provider. The deal, valued at INR 230 Crore (approximately $27.4 Million), involves both cash and stock components.
This strategic move follows closely on OYO's recent funding round. The company raised INR 1,457 Crore (about $175 Million) in a down round.
Acquisition Details
As part of the acquisition, OYO will issue 79.2 million shares to take ownership of CheckMyGuest. Although the cash amount involved in the deal remains undisclosed, the agreement includes a gradual share swap that will give OYO access to CheckMyGuest's portfolio of high-end properties.
This acquisition also extends to CheckMyGuest’s subsidiaries, including:
- HelpMyGuest (HMG), a home renovation business
- Studio Prestige, which manages luxury rental apartments
Checkmyguest Leadership Welcomes OYO Acquisition
“We are delighted to announce that Checkmyguest is now part of OYO, one of the largest hotel groups worldwide. This merger is a major milestone for us and opens up incredible opportunities in terms of development, new markets, and careers,” said Joffrey Ichbia, co-founder of Checkmyguest, in a LinkedIn post confirming the deal.
OYO's Strategic Acquisition of Checkmyguest
The acquisition of Checkmyguest is expected to bring several strategic benefits to OYO:
- Enhanced Premium Inventory: Significantly increases OYO's portfolio of high-end properties, especially in Paris where Checkmyguest has a strong presence.
- European Market Expansion: Aligns with OYO's goal to strengthen its foothold in the European luxury accommodation sector since there is huge demand
- Competitive Advantage: Strengthens OYO's position in the premium short-term rental market against other players.
By integrating Checkmyguest's portfolio and expertise, OYO will elevate its service offerings and capture a larger share of the travel market.
About OYO
Oyo, founded in 2012 by Ritesh Agarwal, has rapidly expanded its footprint in the global hospitality market.
As of March 2024, Oyo manages approximately 85,000 vacation homes, primarily in Europe, and 18,000 hotels in India and Southeast Asia. Since 2021, the company has acquired several businesses in Europe to strengthen its operations in countries such as Croatia, Germany, Denmark, Spain, and Austria.
Also Read: Oyo Posts First Ever Annual Profit Of Rs 229 Crore In FY 2024
Investment Opportunities in OYO’s Unlisted Shares
OYO is spread across 80 countries with 1 million rooms, and this new hotel is an addition to the list but can contribute more than a few rooms combined. The growth line of OYO is rising each year and is driving many to invest in it. TheOYO share price is currentlytrading around ₹44-₹45 per share.
If you want to invest in OYO, today is the best time. Get in touch with Stockify before theOYO rooms share priceincreases. Stockify is India’s leading unlisted stock trading platform. Helping investors like you invest in trendingunlisted sharesfrom the comfort of your zone.
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