Oyo Expands European Footprint with Acquisition of Paris-Based Checkmyguest
Skift Take
As Oyo keeps pushing forward in Europe, snapping up Checkmyguest and its affiliates drives home the company’s determination to carve out a spot in the global vacation rental market.
Looking to bolster its presence in the European short-term rental market, India-based hospitality company Oyo has acquired Paris-based rental management company Checkmyguest. The acquisition is valued at INR 2.3 billion ($27.4 million), according to reports.
This acquisition also includes two affiliated companies, Studio Prestige, a luxury apartment rental service, and Helpmyguest, a property design and renovation firm.
The acquisition comes on the heels of Oyo’s recent capital raise of INR 14.5 billion ($175 million), albeit at a reduced valuation of $2.4 billion, a significant drop from its $10 billion peak in 2019.
