Indian-owned Oyo Vacation Homes is expanding again in Germany with the takeover of part of TUI’s holiday homes business.
TUI Group announced in December it would sell its holiday homes and Northern Europe holidays specialist Wolters to online portal E-Domizil, part of the E-Hoi Group, in a strategic disposal. According to experts, Wolters has estimated turnover of about €120 million, with about half coming from holiday home rentals under the TUI Ferienhaus brand and half from package holidays in the UK, Ireland and Scandinavia.
But in a surprise move, E-Domizil has now decided to split up Wolters and sell off the TUI Ferienhaus tour operator business to Oyo Vacation Homes. As a tour operator, TUI Ferienhaus contracts capacity in about 17,000 apartments and villas, and mostly markets these holidays through TUI’s travel agency distribution network.
E-Domizil will retain the remaining Wolters activities including the two separate holiday home OTAs Atraveo and TUI Villas, which market some 300,000 properties directly to consumers.
With the TUI Ferienhaus deal, Oyo Vacation Homes has increased its tour operator portfolio of fully managed vacation homes to more than 50,000 units in 26 countries, mostly in Europe. The Indian group already made a major expansion move on the German market last year with the takeover of the @LeisureGroup, which included tour operators Belvilla, Dancenter and Danland as well as the holiday accommodation marketplace Traum-Ferienwohnungen.
Moreover, the company has also sealed a strategic partnership with E-Domizil to market its overall portfolio through the E-Domizil websites.
Tobias Wann, CEO of OYO Vacation Homes, said: “At Oyo, our acquisition strategy is focused towards building on our existing capabilities and with e-domizil as a partner, we have found synergies to strengthen our presence across Europe.”
Detlev Schäferjohann, CEO of e-hoi Group, added: “Following the acquisition of the entire TUI Wolters business, the sale of the holiday home tour operator business to Oyo Vacation Homes rounds up a very successful transaction. While e-domizil will further strengthen and focus on an OTA approach to the holiday home business, the holiday home tour operator business fits best to our strategic partner Oyo.”