Wyndham Steps Up Investment in Sharing Economy With Two New European Deals

Wyndham Worldwide has increased its presence in the sharing economy with two new investments.

The company’s Danish arm Novasol has signed a deal to buy German company Wimdu. The acquisition is a surprising one given that Wimdu was only recently merged with rival 9flats.

The transaction remains subject to the approval of the German Federal Cartel Office, which is likely to take a number of weeks.

Meanwhile, in the UK, Wyndham has made an undisclosed investment in upmarket vacation rental firm Veeve.

Unique Ventures, which trades as Veeve, was founded in 2011 and manages around 1,000 homes across London. It operates a similar type of business to Accor-owned Onefinestay.

The partnership will see Wyndham support the expansion of Veeve both in London and abroad.

Geoff Cowley, Managing Director, Wyndham Vacation Rentals UK, said: “Veeve’s mission to make home rentals as effortless as possible complements our Peer-to-Peer Plus approach which goes beyond simply connecting travelers to hosts to provide both with a range of services to simplify the process.”

Both deals show just how serious Wyndham is taking the threat posed by Airbnb and follows the acquisition earlier in the year of Spain-based Friendly Rentals. In the UK Wyndham also has a stake in Love Home Swap.