OYO acquires Australia's MadeComfy, boosts global vacation rental presence

The popular hospitality company OYO needs no introduction. Starting as a startup in India, OYO is now expanding to other countries. In line with this, it has recently taken another key decision. 

Key Decision as Part of Business Expansion:

OYO, which is making strides in the global hospitality sector, has now taken a key step towards further expanding its business scope. OYO, which has so far been limited to hotel services, is now preparing to enter the vacation homes and short-term rental housing segment.

As part of this, OYO's vacation home unit, Belvilla by OYO, has acquired MadeComfy, a leading short-term rental company in Australia. However, there is no clarity on whether these services will be available in India. This means that those who want long vacations or short-term rental rooms can easily access the services.

Approval in General Meeting:

This agreement will help OYO strengthen its presence worldwide. According to the deal details, this acquisition was made in the form of cash and shares. Approval was received at the Extraordinary General Meeting recently held by OYO's parent company, Oravel Stays.

It is understood that OYO will issue shares worth about $1.9 million as part of this agreement. The value of each share has been fixed at $0.67. Accordingly, OYO's current value is estimated to be around $5 billion (approximately Rs.42,500 crore).

What is MadeComfy?

MadeComfy was launched in 2015 by two enthusiasts, Sabrina Bethunin and Quirin Schwaighofer. The company currently manages over 1,200 properties in Australia. The company has offices in major cities like Sydney, Melbourne, Brisbane, Perth, and Adelaide.

In Australia and New Zealand

MadeComfy's services have also expanded to Auckland, Wellington, and Hamilton in New Zealand. In 2024, the company achieved a revenue of $9.6 million. Primarily focused on short-term rental property management services, the company helps property owners generate higher income. With this deal, OYO will enter key markets like Australia and New Zealand.

OYO's Global Expansion Continues

In 2019, OYO acquired the European Leisure Group. At the same time, it acquired the Belvilla brand and runs it as “Belvilla by OYO”. Through this brand, it manages over 50,000 vacation homes in 20 countries in Europe.

Also, in December 2024, OYO acquired G6 Hospitality for $525 million. This brought a network of over 1,500 hotels in the US and Canada. Now, the MadeComfy acquisition further strengthens OYO's global presence.