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🚀 OYO Acquires Paris-Based Checkmyguest for $27.4 Million in Cash and Stock Deal OYO, a global leader in the hospitality industry, has made a significant move by acquiring Paris-based premium rental homes company Checkmyguest for INR 230 Crore ($27.4 Million). This strategic acquisition, which includes the housing renovation business HMG and luxury rental management company Studio Prestige, is a key part of OYO’s aggressive global expansion plan. Checkmyguest, founded in 2016, has built a strong presence in the Paris market, offering a range of high-end vacation rental properties. With this acquisition, OYO significantly enhances its inventory of premium homes, particularly in Paris, a city known for its thriving hospitality market. The deal was executed through a mix of cash and stock, with OYO issuing 7.92 Crore Series G CCPS. Although the exact cash payout remains undisclosed, the deal is expected to rapidly strengthen OYO’s portfolio while maintaining a focus on profitability. OYO's spokesperson highlighted the strategic importance of this acquisition, noting that it aligns with their long-term growth strategy. This acquisition comes on the heels of OYO’s recent $175 Million funding round, led by Ritesh Agarwal's Patient Capital, which despite being a down round, reinforces the company's commitment to global expansion. OYO’s hotel count has grown impressively, reaching 18,103 by the end of FY24, as the company continues to expand its footprint. As OYO continues to grow, this merger opens up new markets, opportunities for innovation, and exciting career prospects. 🔗 Aspirants Space ( https://lnkd.in/gYkc-Ni8 ) congratulates OYO on this significant milestone and encourages them to leverage our services to recruit top talent that will drive their next phase of growth! Source : https://lnkd.in/ef6VEQEe 🔍 Job seekers, analyze your resume - https://lnkd.in/ei4wgXHk to land top opportunities in leading companies! #AspirantsNews #MergersAndAcquisitions #OYO #Hospitality #GlobalExpansion #Paris #GrowthStrategy

OYO Acquires Checkmyguest for Rs 230 Crore 🎉 OYO, India's hospitality giant, has made a strategic move by acquiring Paris-based premium rental homes company Checkmyguest for Rs 230 crore. This deal will strengthen OYO's presence in the European market and expand its offerings in the premium rental homes segment. 🌟 Key Points: - OYO will acquire an inventory of premium homes in Paris through a share swap. - Checkmyguest's co-founders, Julien Madar, Joffrey Ichbia, and Kevin Cohen, will join OYO's leadership team. - This acquisition includes HMG (formerly HelpMyGuest) and Studio Prestige, providing OYO with a foothold in the housing renovation and luxury rental apartment management businesses. 🚀 OYO's Growth Trajectory: This acquisition comes on the heels of OYO's recent Series G funding round, where it raised Rs 1,457 crore. The company is poised for further growth and expansion in the global hospitality market. 🤝 Industry Collaboration: Joffrey Ichbia, co-founder of Checkmyguest, expressed his enthusiasm about the merger, stating that it opens up new opportunities for development, market expansion, and career growth. #OYO #Checkmyguest #Hospitality #PremiumRentals #Paris Share your thoughts and experiences on this exciting acquisition!

OYO has agreed to acquire G6 Hospitality LLC , the operator of Motel 6 and Studio 6, in a $525 million all-cash transaction. This deal will see OYO take over 1,650 properties across the US and Canada from Blackstone Real Estate, marking a massive expansion in North America. The acquisition follows OYO's purchase of Paris-based Checkmyguest for over $27 million and its $175 million funding round, with founder Ritesh Agarwal contributing $100 million. Despite a 1.4% decline in revenue to Rs 5,389 crore in FY24, OYO reported a Rs 239 crore profit after tax, showcasing its profitability ahead of refiling its draft IPO papers. With plans to add 250 more hotels this year, OYO aims to enhance the Motel 6 and Studio 6 brands by leveraging its technology and global distribution. Motel 6, currently generating $1.7 billion in gross room revenues, will continue to operate as a separate entity. CEO Gautam Swaroop emphasized the importance of this acquisition in driving OYO’s international growth strategy. This bold move by OYO signals strong intent to dominate the global budget hotel market. Do you think this acquisition will fuel OYO’s growth in North America? Tushar Kansal #OYO #G6Hospitality #Motel6 #Acquisition #HospitalityIndustry #BusinessGrowth #IPO #RiteshAgarwal #Blackstone #StrategicExpansion #GlobalBusiness

OYO Acquires Paris-based CheckMyGuest for $27.4M: Major Global Expansion Move 🌍💼 OYO has reportedly acquired Paris-based premium rental homes company Checkmyguest for INR 230 Cr (approximately $27.4 million) in a cash and stock deal. The acquisition includes Checkmyguest's associated businesses, such as the housing renovation firm HMG and luxury rental apartment management company Studio Prestige. This move follows OYO's recent INR 1,457 Cr ($175 million) fundraising in a down round, which lowered its valuation to $2.37 billion. The deal is part of OYO's strategy for global expansion, allowing it to acquire premium home inventory in Paris. Despite reporting its first profitable fiscal year in FY24, OYO's revenue from operations saw a slight decline, reflecting challenges in adding new hotels to its inventory. Video Link:- https://lnkd.in/giTg9Q46 #oyo #checkmyguest #traveltech #hospitality #proptech #software #travelaccommodation #riteshagrawal #oyoacquires #acquisitionnews #businessnews #globaltravel #oyoglobal #oyobusiness #oyoexpansion #oyorental #businessacquisition #startupnews #oyonews #startupera #startupera_in #paris #gurgaon OYO Checkmyguest

NU.23.09.2024 𝐎𝐲𝐨 𝐭𝐨 𝐆𝐞𝐭 𝐊𝐞𝐲𝐬 𝐭𝐨 𝐆𝟔 𝐀𝐟𝐭𝐞𝐫 $𝟓𝟐𝟓𝐦 𝐃𝐞𝐚𝐥 𝐰𝐢𝐭𝐡 𝐁𝐥𝐚𝐜𝐤𝐬𝐭𝐨𝐧𝐞 In a major milestone for the hospitality industry, Oyo Hotels & Homes has announced a significant acquisition deal. 𝐒𝐭𝐫𝐞𝐧𝐠𝐭𝐡𝐞𝐧𝐢𝐧𝐠 𝐆𝐥𝐨𝐛𝐚𝐥 𝐏𝐫𝐞𝐬𝐞𝐧𝐜𝐞 Oyo has agreed to acquire the G6 Hospitality business from Blackstone Real Estate for a whopping $525 million in an all-cash transaction. This strategic move will allow Oyo to further strengthen its global footprint by adding the iconic Motel 6 and Studio 6 brands under its umbrella. 𝐏𝐫𝐢𝐯𝐚𝐭𝐞 𝐄𝐪𝐮𝐢𝐭𝐲 𝐁𝐚𝐜𝐤𝐬 𝐭𝐡𝐞 𝐃𝐞𝐚𝐥 Private equity firm Blackstone, known for its massive real estate investments, has agreed to sell the G6 Hospitality business, which operates more than 1,400 economy lodging locations across the United States and Canada. 𝐎𝐲𝐨’𝐬 𝐀𝐦𝐛𝐢𝐭𝐢𝐨𝐮𝐬 𝐄𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧 𝐏𝐥𝐚𝐧 Oyo is set to become the official owner of the G6 Hospitality group by the end of 2024, bolstering its presence in the U.S. and North America. This acquisition is part of Oyo’s strategy to expand aggressively beyond its core markets. 𝐄𝐲𝐞𝐬 𝐨𝐧 𝐭𝐡𝐞 𝐄𝐜𝐨𝐧𝐨𝐦𝐲 𝐋𝐨𝐝𝐠𝐢𝐧𝐠 𝐒𝐞𝐠𝐦𝐞𝐧𝐭 As part of its long-term vision, Oyo’s CEO Ritesh Agarwal mentioned that this deal would place the company firmly in the economy lodging segment of the market. The acquisition is also expected to support Oyo’s international growth aspirations. 𝐂𝐨𝐧𝐜𝐥𝐮𝐬𝐢𝐨𝐧 With this acquisition, Oyo will not only diversify its portfolio but also strengthen its global brand recognition, especially in the North American market. This move is a key step toward becoming a leading player in the global hospitality industry. Rishabh Kale

Indian hospitality giant OYO has acquired Paris-based premium rental homes company CheckMyGuest for Rs 230 crore in a mix of cash and stock. The development comes after the company raised Rs 1,457 crore (approximately $175 million) at a valuation of $2.37 billion. According to the media reports, CheckMyGuest was previously valued at $110 million. The acquisition includes the housing renovation business HMG (formerly HelpMyGuest) and the luxury rental apartment management company Studio Prestige, according to The Arc's report. As of March 2024, OYO operated around 85,000 homes, mainly in Europe, and 18,000 hotels in India and Southeast Asia. The company has made several European acquisitions since 2021 to expand its presence in Croatia, Germany, Denmark, Spain, and Austria. #oyo #europe #paris #traveling #startup #news #indianstartupnews

OYO Acquires Paris-Based Checkmyguest for $27.4 Million Hospitality giant OYO has made a strategic move to bolster its presence in Europe by acquiring Paris-based premium rental homes company Checkmyguest for a reported $27.4 million. The deal, a mix of cash and stock, sees OYO snapping up a company valued at $110 million just months ago. Checkmyguest, founded in 2016, offers a range of vacation rental properties, including homestays and luxury apartments. The company boasts a strong presence in the Parisian market, a key target for OYO as it seeks to expand its global footprint. This acquisition comes on the heels of OYO's recent $175 million funding round, demonstrating the company’s aggressive expansion plans. By incorporating Checkmyguest's portfolio, OYO aims to strengthen its position in the premium segment of the vacation rental market. "This acquisition is a significant step forward in our European expansion strategy," said [OYO spokesperson]. "Checkmyguest's expertise in the premium rental space aligns perfectly with our vision of offering exceptional stays to travelers worldwide." The deal also includes Checkmyguest's subsidiaries, HMG and Studio Prestige, which specialize in home renovations and luxury apartment management respectively. As OYO continues to navigate the competitive hospitality landscape, this strategic move positions the company for growth in one of the world's most sought-after tourism destinations. #startup #startupnews #business #oyo #hotel #hospitality #acquires #checkmyguest #finance #expansion #rental #properties #travel #management #post

🏨 OYO Snaps Up Paris-Based Checkmyguest for $27.4 Million. OYO, the Indian hospitality giant, has reportedly acquired CheckMyGuest, a Paris-based short-term rental management company, for $27.4 million. This move aligns with OYO's global expansion strategy and strengthens its foothold in the European market. 🔹 Deal Details: - Acquisition Value: OYO's acquisition of CheckMyGuest is valued at $27.4 million. - Company Overview: CheckMyGuest specializes in managing short-term rental properties across France, enhancing OYO's operational capacity in Europe. 💡 Background: - OYO’s Global Presence: OYO has been actively expanding its presence outside India, particularly in key European markets. - Strategic Expansion: With this acquisition, OYO aims to improve its services in Europe by leveraging CheckMyGuest’s expertise in managing high-demand vacation rentals. 🚀 Market Impact: - Stronger European Footprint: The acquisition is expected to boost OYO's presence in Europe, enhancing its portfolio and ability to cater to more travelers. - Competitive Edge: OYO’s aggressive acquisition strategy continues to solidify its position as a global leader in the hospitality sector. 📈 Future Outlook: - Synergy Potential: The deal will likely create synergies in operational efficiency, enabling OYO to offer a seamless travel experience across more properties. - Expansion Plans: OYO is expected to continue its acquisition spree, targeting strategic markets to fuel growth. #OYO #CheckMyGuest #Hospitality #GlobalExpansion #BusinessGrowth #BusinessNews #StartupNews #MicroShots #NewsUpdates

Indian hospitality giant OYO has acquired Paris-based premium rental homes company CheckMyGuest for Rs 230 crore in a mix of cash and stock. The development comes after the company raised Rs 1,457 crore (approximately $175 million) at a valuation of $2.37 billion. According to the media reports, CheckMyGuest was previously valued at $110 million. The acquisition includes the housing renovation business HMG (formerly HelpMyGuest) and the luxury rental apartment management company Studio Prestige, according to The Arc's report. As of March 2024, OYO operated around 85,000 homes, mainly in Europe, and 18,000 hotels in India and Southeast Asia. The company has made several European acquisitions since 2021 to expand its presence in Croatia, Germany, Denmark, Spain, and Austria. Read the full story here: 👇 https://lnkd.in/dCz9hgjm #oyo #europe #paris #traveling #startup #indianstartupnews

🏨 OYO Acquires Paris-Based CheckMyGuest for Rs 230 Crore 🏨 OYO, the Indian hospitality giant, has acquired CheckMyGuest, a Paris-based premium rental homes company, for Rs 230 crore in a cash and stock deal. OYO will issue 79.2 million shares for this acquisition, with the cash component undisclosed. CheckMyGuest was previously valued at $110 million. 🌍 Strategic Expansion: • This acquisition aligns with OYO’s strategy to bolster its presence in Europe. • OYO has been actively expanding across Europe with previous acquisitions in Croatia, Germany, Denmark, Spain, and Austria. This move enhances OYO’s portfolio in the premium rental space, further strengthening its global footprint. #OYO #Acquisition #CheckMyGuest #Hospitality #RealEstate #EuropeanExpansion #BusinessNews #TravelIndustry