A month after announcing its commitment to invest €300 million in the vacation homes business in Europe, hospitality firm OYO has acquired Danamica, a Copenhagen-based data science platform which is specialised in dynamic pricing.
Though, the company did not disclose the terms of the latest transactions.
The development is part of seizing Europe multi-billion Euro opportunity in vacation rentals space. With this acquisition, OYO will aim to drive top-line growth by leveraging dynamic pricing across all its brands.
“The acquisition will help us be more accurate with pricing, leading to higher efficiencies and yield for our real estate owners and value for money for our millions of global guests, both everyday travellers and city dwellers,
that choose an OYO Vacation Homes as their abode,” said Maninder Gulati, Global Head, OYO Vacation and Urban Homes.
Danamica’s technology innovations will benefit OYO’s global vacation homes business as well as users to book vacation home at a reasonable price.
Danamica has built a valuable IP that analyses many years of data and pricing trends and provides logical and scientific recommendations, which will help us scale our vacation and urban homes business across Europe and other parts of the world, added Maninder.
Danamica co-founders Mads Westberg & Rune Larsen are also confident that their data-driven approach will help them unlock potential in the vacation rental industry.
This is OYO’s second acquisition in Europe after holiday rental firm Leisure in May. The Gurugram-based firm rebranded it into the destination for the best holiday experience and partner of choice for homeowners.
In August, Oyo had committed to invest €300 million in the vacation homes business in Europe. It had emphasised on strengthening the relationship with homeowners and enabling them with the resources, including technology investments, required to deliver better hospitality experiences.